Bank for International Settlements

• Reserve Bank of India and BIS have launched G20 TechSprint, a global technology competition.

About Bank for International Settlements

• BIS was created in 1930 at Hague Conference.
• HQ: Basel, Switzerland.
• Aim- Support central banks’ pursuit of monetary and financial stability through international cooperation, and to act as a bank for central banks.
• BIS Governance is exercised at three levels –
  • Board of Directors,
  • General Meetings of member central banks and
  • BIS Management – as determined by its Statutes.
• BIS is owned by 63 central banks including Indian Central Bank(RBI), representing countries from around world that together account for about 95% of world GDP.
• It has two representative offices- in Hong Kong SAR and in Mexico City.