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Abstract
This paper discusses the economic development of the BRICS countries and how their economies threat a challenge to the world. Further, it describes the purpose and functions of the New Development Bank. It also explains how NDB is converting to global financial institutions like the IMF, World Bank, etc.What is the reason for the creation of BRICS? What is the status of developing countries today? Why is the BRICS appealing to developed countries? Why are BRICS seen as so necessary in the world when there are so many international organizations?This article answers the questions.