<h1>BRICS Governing Council Approves Key Rules to Enhance Financial Stability and Support Among Member Nations.</h1> The first meeting of the Governing Council of the BRICS Contingent Reserve Arrangement took place on September 4, 2015, in Ankara, Turkey. India was represented by its Finance Minister and the Governor of the Reserve Bank. The council approved procedural rules for both the Governing Council and the Standing Committee, finalizing foundational aspects of the arrangement. This initiative aims to mitigate short-term liquidity issues, provide mutual support, and enhance financial stability among member countries. It also offers a safety net, allowing India to pursue policy decisions without excessive concern over international economic fluctuations, as noted by a government official.