Know the BRICS Full Form| IFFCO Full Form| ILFS Full Form: Part 8

Let us now know the BRICS full form, IFFCO full form, ILFS full form and also know what NPR, BRICS, ILFS is. Read on Ginfo4U for more full-forms.
Know the BRICS Full Form-IFFCO Full Form-ILFS Full Form-Ginfo4U

What is the BRICS Full Form in English?

At the time when BRICS was formed, it included only four countries, due to which it was called BRIC and its full form i.e. Full Form, Brazil, Russia, China, and India. When the country of South Africa also joined this group, it was named BRICS (BRIC).

Main Objectives of BRICS

The US dollar is a major currency in the world and the goal of BRICS countries is to strengthen those currencies globally using other currencies instead of this currency. The second biggest motive for creating BRICS is to create a special trade block for developing countries.

BRICS is a group of five countries and was formed in the year 2009. The group was formed by countries like Brazil, Russia, India, and China. At the same time, a total of 10 summits have been organized by this group so far. 

In fact, a formal summit is organized by the BRICS nation every year and the summit is attended by the head of state and government of the BRICS nation.

BRICS was for the cooperation of five major emerging national economies: (B) Brazil, (R) Russia, (I) India, (C) China, and (S) South Africa.

When did BRICS Start?

In 2006, there was a session of the Foreign Ministers of the BRIC Nation in New York and during this session, India, Brazil, Russia, and China discussed the establishment of BRIC together. Three years later, in 2009, these countries held their first conference in Russia.

When did South Africa Join the Country?

In 2010, the nation of South Africa was also associated with this group. The President of this country also participated in this summit held in China in April 2011.

What is the IFFCO Full Form in English and Meaning?

The Indian Farmers Fertilizer Cooperative (IFFCO) is one of the largest fertilizer cooperative association based in India. It is headquartered in New Delhi, India.

IFFCO is one of the leading cooperatives in India which is wholly owned by Indian cooperatives. IFFCO was founded in 1967 with only 57 cooperative societies and today it is an amalgamation of over 36,000 Indian cooperatives.

IFFCO Aims:-

The main objective of IFFCO is to provide reliable and quality agricultural investment goods and services to Indian farmers on time and to conduct timely programs to improve the standard of living of the farmers.

What is the IL&FS Full Form in English?

Infrastructure Leasing and Financial Services (ILFS) is an infrastructure development and finance company headquartered in Mumbai, Maharashtra, India.

ICRA downgraded Infrastructure and Financial Services (IL&FS) rating. The credit rating agency has given it a junk (junk) rating. This has impacted not only mutual funds investing in this company but also those listed banks that have lent it.

IL&FS is a non-banking financial company (NBFC). It raises money from the market through different instruments to give loans. Credit rating agencies give ratings to these instruments.

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