By Cherian Thomas, Bloomberg
New Delhi: India’s central bank governor Yaga Venugopal Reddy has been appointed as the chairman, Asian Consultative Council of the Bank for International Settlements (BIS), an e-mailed statement from the BIS said.
Reddy, 66, will have a two-year term starting this month and succeeds Zhou Xiaochuan, governor of the People’s Bank of China, the statement from the Basel, Switzerland-based BIS said.
The BIS’s Asian Consultative Council comprises the central banks of Australia, China, Hong Kong, India, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore and Thailand.
The council “was established in 2001 to provide a vehicle for communication between these central banks and the BIS Board and management on matters of interest and concern to the Asian central banking community,” the statement said.