The Bank for International Settlements (BIS) is an international organization that serves as a bank for central banks. It was established in 1930 and is headquartered in Basel, Switzerland. The BIS's main purpose is to promote international monetary and financial cooperation, and to act as a forum for central banks to consult and exchange information with each other. The organization also provides a range of services to central banks, including the conduct of research on topics of interest to central banks, the provision of training, and the clearance and settlement of transactions between central banks.
The BIS plays a central role in the international financial system, and it is considered to be one of the most important and influential institutions in the world of central banking. It is owned by central banks from 60 member countries, representing the vast majority of the world's population and economic activity.
The BIS also acts as a lender of last resort to its member central banks and provides other financial services as well as serving as an important think tank on monetary policy and international financial issues. The organization also plays a role in the development and promotion of international standards for banking and financial regulation.
The Bank for International Settlements (BIS) is an international organization that serves as a bank for central banks. The BIS's main purpose is to promote international monetary and financial cooperation, and to act as a forum for central banks to consult and exchange information with each other.The BIS conducts research on topics of interest to central banks, provides training and other services to central banks, and acts as a clearinghouse for the settlement of transactions between central banks. The BIS also acts as an agent or trustee in connection with various international financial operations, and holds and manages assets for these purposes.
It also conducts research on global macro economy and it is considered as an important think tank for central banks.
A BIS (Bureau of Indian Standards) approved laboratory is a laboratory that has been recognized and authorized by the Bureau of Indian Standards (BIS) to perform testing and certification of products to ensure that they comply with Indian standards. These laboratories are audited regularly by the BIS to ensure that they maintain high standards of accuracy, reliability, and impartiality in their testing and certification processes.
The BIS is the national standard body of India, responsible for the development and promotion of standards in various fields, including products, systems, and services.
And more information : Click Here
