<h1>Memorandum of Understanding on General Cooperation establishes a non binding framework to promote BRICS development bank cooperation and trade.</h1> Approval is granted for signing a non binding Memorandum of Understanding on General Cooperation between the Export-Import Bank of India and the New Development Bank through the BRICS Interbank Cooperation Mechanism. The MoU is an umbrella agreement establishing a cooperation framework consistent with national laws, with no financial implication, intended to facilitate skills transfer, knowledge sharing and institutional collaboration to promote trade, economic relations and mutual investment projects among BRICS development financial institutions.