For the first time, the four emerging economies – India China, Brazil and Russia – would be among the 10 largest members of the International Monetary Fund.

Besides, more than 6 percent of quota shares would shift to dynamic emerging markets and developing countries. It would also mark the shift in shares from over-represented to under-represented IMF members.

The much-awaited quota reforms, pending for many years, were approved by the US Congress in 2015.

The 2010 Quota and Governance reforms were approved by the IMF's Board of Governors in December 2010.

In a statement, IMF said the conditions for implementing its 14th General Quota Review, "which delivers historic and far-reaching changes to the governance and permanent capital of the Fund, have now been satisfied".

Currently, India has voting rights of 2.34 percent at the IMF, which has 188 members. In terms of quota, India has a share of 2.44 percent.

Others in the top 10 largest members are the US, Japan, France, Germany, Italy and the UK.

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