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The Brazilian President silences critics who cited unfinished infrastructure projects with 60 days remaining.
New Delhi says issue of data sharing is becoming very critical for the developing countries.
India is among the top global importers of weapons and military equipment.
Nine aircraft and 14 naval vessels from many nations converged on an Indian Ocean area the size of Los Angeles.
The drastic sell-off of tech and biotech stocks comes on fears that China's economic dynamo may be slowing down.
Rajan criticized an IMF report, which he claimed put forth a warning to emerging economies.
Details of BRICS Bank to be announced at the 6th BRICS Summit in Brazil this summer.
However, the nearly 12,000-strong force will not be deployed until September 2014.
The two sides are expected to ink a 30-year deal to supply pipeline gas to China during Putin's May visit.
Chinese Premier Li Keqiang has said Beijing will settle for slower but sustainable development instead.