BRICS SUMMIT 7th BRICS Summit held in Ufa, Russia Theme - "BRICS Partnership – a Powerful Factor of Global Development" . i. The summit was attended by the Prime Minister Narendra Modi and Dilma Rousseff, Vladimir Putin, Xi Jinping and Jacob Zuma president of Brazil, Russia, China and South Africa respectively. ii. Major Happenings at UFA "Contingent Reserve Arrangement" The central banks of Brazil, Russia, India, China and South Africa (BRICS) on 7 July 2015 signed Mutual Assistance Agreement (MAA) aimed at operationalising the BRICS Contingent Reserve Arrangement (CRA) of 100 billion US dollars. Its purpose is to provide mutual support (monetary funds in US dollars) in the event that national financial systems encounter dollar liquidity problems. Total committed resources of the CRA are 100 billion US dollars, with individual commitments- China (41 billion), Brazil (18 billion), Russia (18 billion), India (18 billion) and South Afric...