The Cabinet has given its approval for signing of a Memorandum of Understanding (MoU) on General Cooperation with New Development Bank (NDB) through the BRICS Interbank Cooperation Mechanism. The proposal will enhance trade and economic relations among the BRICS countries and benefit the participating institutions from the BRICS nations.<br/><br/>Our correspondent reports that five banks from the BRIC nations had established the BRICS Interbank Co-operation Mechanism to enhance trade and economic relations amongst the BRIC countries, and enterprises. <br/><br/>The Cabinet also gave its nod for signing of a MoU between India and Hungary on cooperation in the field of water management. The MoUwill encourage the development of bilateral relations between public and private organizations concerning water resources of both the countries.<br/><br/>The Cabinet has given its approval for signing the Memorandum of Understanding MoU between India and the Russia on Expansion of Bilateral Trade and Economic Cooperation. The MoU would expand more bilateral trade and economic cooperation between the two countries. <br/><br/>The Cabinet was also apprised of the MoU signed on April 7, 1999 and the First Executive Programme for MOU signed with Qatar on bilateral cooperation in the field of Youth and Sports signed on 5th of June this year. The MoU will help in expanding knowledge and expertise in the areas of sports science, sports medicine and coaching techniques.