Consider the following statements:1.New Development Bank has been set up by APEC.2.The headquarters of New Development Bank is in Shanghai.Which of the statements given above is/are correct?

1. A

   1 only

   Statement 1 says the New Development Bank was set up by APEC. NDB is the BRICS bank (Brazil, Russia, India, China, South Africa), created at the 2014 Fortaleza summit, not an APEC institution. 1 only is therefore wrong.

2. B

   2 only

   The headquarters of the New Development Bank is in Shanghai. Statement 2 is correct and statement 1 is not, so 2 only is the official key.

3. C

   Both 1 and 2

   Both would require an APEC origin. NDB is BRICS, so both is not the key.

4. D

   Neither 1 nor 2

   Neither would deny the Shanghai headquarters, which is correct. This option is therefore wrong.

Summary. Official key is (b) 2 only. The New Development Bank is a BRICS multilateral lender headquartered in Shanghai, with a later regional office in Johannesburg and an Indian regional office in Gujarat. APEC is a Pacific economic forum and did not found NDB. Confusing NDB with AIIB (Beijing) or with APEC is a common trap. Only the headquarters statement stands.