Raghuram Rajan in the WEF task force to study about the future of global financial system

RBI’s Raghuram Rajan has joined a WEF created task force of eight experts including Central Bankers to study about the future of global financial system.

The Task Force was launched by the WEF as per the request of central bankers including Mark Carney, Governor, Bank of England who raised concerns about the future of global financial system in the context of technological advancements and financial stability risks.

Many of the participants from the central banking folk have observed that disruptive technologies and increasing interconnectedness poses risk to the global economy.

Mr Rajan’s inclusion in the Task Force certifies his expertise and skill in matters related to the management of global economy.

According to the WEF website, “The group will focus on the inclusion of emerging market economies in the global financial system, technology-enabled innovation and the economic cost-benefit of post-crisis regulatory reforms.”

Prominent members in the group are Mark Carney who is the Governor of the BoE and Chairman of the Financial Stability Board (FSB), and Professor Klaus Schwab, Founder and Executive Chairman, World Economic Forum.

The eight senior decision-makers comes from central banks and private firms including Citigroup, BlackRock, HSBC, Bank of America, Reserve Bank of India, IMF, Bank of England, Chinese University of Hong Kong.