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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.
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.
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.
Beijing will work with ASEAN nations and neighbours like India to accelerate negotiations on the China-backed RCEP.
814 million voters will be eligible to cast their ballots this year.
BRICS officials will meet on the sidelines of a IMF meet this week.
