 From September 2013 through September 2016 he was the 23rd Governor of the Reserve Bank of India; in 2015, during his tenure at the RBI, he became the Vice-Chairman of the Bank for International Settlements.At the Federal Reserve annual Jackson Hole conference in 2005, Rajan warned about the growing risks in the financial system and proposed policies that would reduce such risks.Former U.S. Treasury Secretary Lawrence Summers called the warnings "misguided" and Rajan himself a "luddite".