~ RBI Governor Urjit Patel has been appointed to Financial Stability Institute Advisory Board (FSAB) of Bank of International Settlement (BIS).
~ The Financial Stability Institute of BIS assists financial sector authorities worldwide in strengthening their financial systems.
~ The FSI was jointly established by BIS and the Basel Committee on Banking Supervision in 1998.
~ The Advisory Board will provide strategic advice to help FSI continue to meet its mandate.
~ Banks for International Settlements (BIS) is international financial organization owned by 60 member central banks, representing countries around the world including India.
~ It fosters International monetary and financial cooperation and serves as bank for central banks.