Takao replaced Haruhiko Kuroda, who had, in March, quit ADB to take charge as Japan's central bank governor.
The grouping of Brazil, Russia, India, China and South Africa had in March decided to establish a new development bank -- BRICS Bank -- to finance infrastructure projects and to create a $100 billion contingency fund to tackle any financial crisis in emerging economies.
ADB's sovereign lending to India was $1.95 billion in 2012, beside $0.33 billion to the private sector and another $0.07 million in grants.
ADB was urged to take up the Railways sector.
ADB pegs India's GDP growth at 7.8 per cent in FY 2015-16
RBI recently cut repo by 0.25 percentage point, taking the rate to 7.25 per cent in three reductions since January.
The venture is seen as a rival to the World Bank.
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