The Reserve Bank of India (RBI) Governor Raghuram G Rajan has been appointed as vice-chairman of the Bank for International Settlements (BIS).
This is for the first time that a central banker from India appointed vice-chairman of the board at BIS. Earlier, ex-RBI Governor Y V Reddy was appointed in 2007 as chairman of BIS Asian Consultative Council.
Rajan was appointed for a three-year term at BIS, RBI said. He first joined the BIS board of directors in December 2013. He will work with BIS Chairman Jens Weidmann, who is also president of Germany’s Bundesbank.
Rajan’s current tenure at India’s central bank runs till September 2016.