BRICS gets its act together by forming BRICS Bank

Leaders of the five BRICS countries – Brazil, Russia, India, China and South Africa – on Tuesday launched the long-promised development bank and a reserve currency pool, marking their foray in global finance independent from the West-developed IMF and World Bank system.

ET takes a look at the BRICS summit in Fortaleza, Brazil, where the group reached their most significant decisions since they got together in 2009.