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

Jobs Niti Aayog Vice Chairman

“70 Lakh Jobs Created In FY 2017-18,” Claims Niti Aayog Vice Chairman Rajiv Kumar

CIC Slams PMO And RBI

CIC Slams PMO And RBI, Asks To Disclose Wilful Defaulters List And Raghuram Rajan’s Letter On Bad Loans

Viral Acharya

Govt Plays T20 While RBI Plays Test Match: RBI Deputy Governor’s Speech Raises Questions On Autonomy

Niti Aayog Rupee

Let Rupee Find Its Own Value, Says Niti Aayog Vice Chairman After The Currency Hits Lifetime Low

Satya Pal Malik

Satya Pal Malik: First Career Politician In 51 Yrs To Be Appointed As J&K Governor

Fake News Claims Raghuram Rajan Appointed Governor Of Bank Of England

Latest on The Logical Indian

News

Maharashtra Govt Publishes Job Recruitment Ad Under Maratha Quota, Bombay HC Asks Why

News

17 Months On, Kerala Govt Fails To Implement SC Order On Piravom Church Amidst Protest

Awareness

Why Air Pollution Debate Needs To Shift From Delhi To Other Cities?

News

Election Results: MP, Rajasthan, Chattisgarh, Telengana & Mizoram; Who Won Where?

News

Govt Rejects Army’s Demand For Implementation Of 7th Pay Commission

News

Rupee Opens 114 Paise Lower After Urjit Patel’s “Unfortunate” Resignation

x

Stories that deserve attention, delivered to your inbox!

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