As a continuation of this process, and as a part of its capacity building and knowledge management initiatives, the Reserve Bank has recently signed a Memorandum of Understanding with the London School of Economics and Political Science (LSE), as one of the sponsors, for creating a LSE India Observatory and IG Patel Chair. Currently, an eminent economist, Lord Nick Stern, holds the Chair.
The LSE India Observatory co-ordinates India related research, policy development and teaching at the LSE and is expected to emerge as  2  BIS Review 144/2007  a hub for academic collaboration with academic institutions in India, government agencies and corporate bodies.