Current Affairs - Banking - Discussion

The RBI has been praised by the Bank for International Settlements (BIS), for its effective communications strategy. The RBI has been applauded by the BIS, which calls itself 'a bank for central banks', for effectively using a targeted communication strategy for reaching out to the right audience in "short and simplified" language. In its latest annual economic report, Basel-based BIS, which is owned by 60 central banks from across the world including the Reserve Bank of India, has said that effective communication is critical for success, as in many other policymaking areas.