A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Correct answer: (b) 2 only
Explanation
Statement 1 is incorrect because South Africa was not an original member; BRIC originally consisted of Brazil, Russia, India, and China before South Africa joined later, followed by other nations like Egypt, Ethiopia, Iran, UAE, and Saudi Arabia. Statement 2 is correct as the iBRICS Summit focuses on linking national fast-payment systems, sovereign wealth deployment, and CBDC interoperability.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.