April 17, 2024
  • 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.
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