IMF chief said that it'll promotes diversity, reduces economic inequality around the world and helps companies earn more
Inequality remains high in many countries, says IMF chief
Lagarde said the current global recovery was still fragile following the Great Recession of 2008-2009
IMF chief said that the global economy risked prolonged low growth and advanced economies faced painful inequality
Lagarde will face trial for her role in a euro 400-mn ($440 mn) payout as French finance minister in 2008 to businessman Bernard Tapie
She will be tried for negligence by the Court of Justice of the Republic
Lagarde is accused of failing to block an arbitration process in 2008 that ended dispute between Credit Lyonnais and Tapie, a businessman and supporter of Nicolas Sarkozy
France's highest appeals court dismissed Lagarde's appeal against the decision to try her for negligence in her handling of the affair
Her comments came amid the continuing fallout from the 'Panama Papers' leak
India has reduced spending on costly energy subsidies so it can invest more in growth-enhancing social infrastructure
IMF chief's comments, which came at the Advancing Asia Conference, came on the completion of a round of quota reforms
This will be the first centre that fully integrates training and technical assistance and is a model for our future capacity development work: Lagarde
As for India, she put the focus on "enhancing the efficiency of product markets, encouraging private investment and improving infrastructure"
Lagarde, the only candidate nominated for the post, was elected "by consensus," the IMF said in a statement