RBI Governor Raghuram Rajan First Indian To Be Appointed BIS Vice Chairman

The Logical Indian

November 13th, 2015 / 9:27 PM

Source: economictimes.indiatimes | Image Courtesy: aqusagtechnologi

“RBI Governor Elected Vice-chairman of Bank for International Settlements” Raghuram Rajan, the Governor of the Reserve Bank of India, was recently elected as the Vice-chairman of the Bank for International Settlements (BIS).

He is the first Indian to hold that office. “Rajan joined the BIS Board of Directors in December 2013. Jens Weidmann, Chairman of the BIS Board, welcomed Dr. Rajan in his new role and thanked him for his continued service to the Bank,” the RBI said in a press release.

The BIS is an international organization which “fosters international monetary and financial cooperation and serves as a bank for central banks”. The BIS is based in Basel, Switzerland, and meets six times a year. Mr Rajan’s new role as Vice-chairman of BIS is for a tenure of three years.

He became the Governor of RBI in 2013 for a three-year term. Economic analysts say that Mr Rajan’s new accomplishment will boost his chances of an extension as RBI Governor after his term ends in 2016. Mr Rajan has been a stern critic of the monetary practices of Western central banks in the past.

While calling for more coordination between central banks around the world, he has also condemned other central banks for not raising interest rates and following unconventional practices like quantitative easing for a long period of time. Given Mr Rajan’s economic acumen and accuracy in predictions like the 2008 economic crisis, this new accomplishment is a matter of pride for all of us.

The Logical Indian community congratulates Mr Rajan and wishes him the very best on his new endeavor.


Contributors

Edited by :

Share your thoughts..

Related Stories

Fake News Claims Raghuram Rajan Appointed Governor Of Bank Of England

Raghuram Rajan

Don’t Cut GST Rates So Frequently, Let The Economy & Tax System Stabilise First: Former RBI Chief Raghuram Rajan

After Long Suspense, Urjit Patel Announced The Next RBI Governor. Know About Him

Reserve Bank Of India

All You Need To Know About Reserve Bank Of India; Its Origin, Power & Functions

Raghuram Rajan RBI Governer

Raghuram Rajan Bids Adieu. No Country For Good Men.

Raghuram Rajan’s Deep Surgery Of Banks Reveals Further Bad Loans

Latest on The Logical Indian

News

Antigua Rejects India’s Plea to Extradite Mehul Choksi In PNB Scam case

Get Inspired

From Sweeping The Floor To Washing Utensils In A Dhaba, Kavita Thakur Now Eyes For Gold In Asian Games In 2018

Get Inspired

Kerala Floods: Mankind Puts Best Foot Forward, Help Pours In At The Time Of Crisis

News

RTI Response Proves There Was Oxygen Shortage In BRD Hospital, Dr Kafeel Khan Arranged For Cylinders

News

MHA To Honour Good Samaritans With ‘Jeevan Rakshak Padak’: Nitin Gadkari

World Affairs

Kofi Annan, Former UN Secretary General And Nobel Laureate Passes Away At 80

x

Stories that deserve attention, delivered to your inbox!

Handpicked, newsworthy stories which deserve the attention of a rational generation.