With reference to a grouping of countries known as BRICS, consider the following statements : 1. The First Summit of BRICS was held in Rio de Janeiro in 2009. 2. South Africa was the last to join the BRICS grouping. Which of the statements given above is/are correct?

1. Statement 1 is incorrect. The First Summit of BRIC (Brazil, Russia, India, China) was held in Yekaterinburg, Russia, in June 2009. Rio de Janeiro hosted the 4th Summit (BRIC) in 2010. 2. Statement 2 is correct. South Africa was formally invited to join BRIC in December 2010 and attended its first summit as a full member in Sanya, China, in 2011, thus forming the BRICS grouping. It was the fifth member to join.