Banker to Banks

We are gathered here to mark the Grand Finale of the Platinum Jubilee celebrations of the Reserve Bank of India. It is my pleasure and privilege to welcome: Hon’ble Prime Minister Dr. Manmohan Singh Hon’ble Finance Minister Shri Pranab Mukherjee His Excellency, Governor of Maharashtra, Shri K. Sankaranarayanan; and Hon’ble Chief Minister of Maharashtra, Shri Ashok Chavan 2. I also want to acknowledge the presence here on this happy occasion of Smt. Gursharan Kaur, who

1. Professor Michael Spence, Governor Dr. Subbarao, Deputy Governors, distinguished invitees and friends. On behalf of the Reserve Bank of India, I extend a hearty welcome to you all to our First International Research Conference in this great city of Mumbai. 2. Mumbai, a fishing hamlet was gifted in dowry by Portugal to England, and later leased to the East India Company for £10. Today you can’t get even a square inch of land in Mumbai for that price. Mumbai has move

Thank you for inviting me to address this seminar on equity, access, and inclusion. Financial inclusion is about (a) the broadening of financial services to those people and enterprises who do not have access to financial services sector ; (b) the deepening of financial services for those who have minimal financial services; and (c) greater financial literacy and consumer protection so that those who are offered financial products can make appropriate choices. The imp

Thank you very much for inviting me to give this talk. Ordinarily, in a city like Bengaluru, we would talk about startups. Today, however, I want to talk about the resolution of financial distress. I will argue that the slowdown in credit growth has been largely because of stress in the public sector banking and not because of high interest rates. As such, what is required is a clean-up of the balance sheets of public sector banks, which is what is underway and needs

1. Mr Senarath Bandara, Chairman, APRACA (Asia Pacific Rural and Agricultural Credit Association), Dr Harsh Kumar Bhanwala, Chairman National Bank for Agriculture and Rural Development (NABARD) and Vice-Chairman, APRACA, Dr Prasun Kumar Das, Secretary General, APRACA, all other dignitaries present here, ladies and gentlemen, good afternoon! 2. At the outset, I would like to thank APRACA and NABARD for inviting me to give the valedictory address to the participants vis

I am very happy to be amongst you today to address the first Annual Economics Conference being organised by the Amrut Mody School of Management, Ahmedabad University. The theme of the conference – “50 years of Bank Nationalisation: Indian Banking at Crossroads” - provides the perfect backdrop for a discussion on the evolution of Public Sector Banks(PSBs), their journey over the last 50 years and a vision for their future. The banking system has played a critical role

Shri Mohammad Mustafa, Chairman & MD, SIDBI, Dr. Charan Singh, CEO and Director, Foundation for Economic Growth and Welfare, Mr. Gavin McGillivray Head, DFID India, other dignitaries, participants, Ladies and Gentlemen. Good Morning to all! I am very happy that senior bankers, sector specialists, academicians and practitioners are coming together on a single platform to deliberate on the Vision of Microfinance in India at this National Microfinance Congress and th

1. I am happy to be here today amidst you and I must thank FIMMDA and PDAI for this privilege. The annual conference of FIMMDA and PDAI has of late been known as much for the content of the deliberations as for the choice of the venues, and the present one, its twentieth edition, is no exception. These occasions bring together the best minds in the financial market, particularly the fixed income segment, under one roof and provides excellent platform for deliberating

The international environment is clouded with very challenging conditions. Global growth is slowing down and central banks across the world are bracing up to counter it by easing monetary policy; but there is no recession as yet. Trade wars have pushed world trade into contraction and threaten to morph into tech and currency wars, with no evidence of any significant gains accruing to anyone. Meanwhile, global commodity prices have weakened, with collateral benefits to

I am indeed glad to be present here today as we conclude the deliberations on an important topical area – pertaining to cyber security and protection of critical infrastructure from cyber threats, coupled with capacity building in this crucial area of importance. I must congratulate the organisers on having chosen the theme of this summit, given the concerns emanating from cyber security related incidents. 2. We are at a critical juncture in the world of today which i