Finance Minister Arun Jaitley has been appointed on the Board of Governors of Philippines-based Asian Development Bank (ADB).
Takao replaced Haruhiko Kuroda, who had, in March, quit ADB to take charge as Japan's central bank governor.
Haruhiko Kuroda, Japan's former vice-minister of finance for international affairs, has been unanimously elected president of the Asian Development Bank by its Board of Governors.
Kv Kamath has big plans as BRICS Bank chief.
North Block is concerned that when India is trying to attract more investment, putting up restrictions on audit firms could create an avoidable bad advertisement.
Kamath also said that the new bank, set up by India and four other members of the BRICS grouping, will strive to approve its first loan before end of the current fiscal.