Raghuram Rajan Current Affairs - 2019
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Reserve Bank of India (RBI) Governor Raghuram Rajan has been conferred with the Central Banker of the Year Award (Global and Asia Pacific) for year 2016.
The award has been bestowed upon him by the The Banker, a monthly publication of Financial Times Group. This award celebrates the officials and bankers who have best managed to stimulate growth and stabilise their country’s economy.
About Raghuram Rajan
- Raghuram Rajan is incumbent and 23 Governor of RBI and had taken charge in September 2013.
- Prior to becoming RBI Governor, he was chief economic adviser (CEA) to Union Ministry of Finance in 2013.
- He was chief economist at the International Monetary Fund (IMF) from 2003 to 2007. He also was professor of finance at the graduate business school at the University of Chicago.
- He is also a celebrity economist known across the globe for predicting the 2008 global meltdown. He has authored many books on economics.
- Awards and Honours: Fischer Black Prize (2003), Deutsche Bank Prize (2013) and Best Central Bank Governor award (2014).
Reserve Bank of India (RBI) Governor Raghuram Rajan has been appointed as vice chairman of the board of directors of the Bank for International Settlements (BIS).
With this, he became the first Indian to be appointed to this position in the BIS and shall have tenure of three years starting from 10 November 2015.
In his new role Dr. Rajan will assist BIS Chairman Jens Weidmann, who is also president of Germany’s Bundesbank. He had joined the BIS board of directors for first time in December 2013.
About Bank for International Settlements
- BIS was established in 1930 and is world’s oldest international financial organisation.
- Head office is located in Basel, Switzerland. BIS also has two representative offices in Hong Kong and Mexico City.
- BIS serves central banks of countries in their pursuit of financial and monetary stability in order to foster international cooperation. It also acts as a bank for central banks.
- Presently, BIS has 60 central banks as its members which are representing countries from around the world accounting about 95 percent of world GDP.