Banker to Banks

Good afternoon, ladies and gentlemen. It is my pleasure to be here in the precincts of one of the premier business schools of India. When Mr. Bhusnur Math, an ex-RBI colleague, approached me for this seminar, I must concede it was the association of MDI with the event that made me accept the invitation. The way the world is changing and becoming more complex, newer challenges are being thrown up necessitating more interaction and dialogue between academia and the poli

I am happy to be here today at the annual seminar of insurance regulators and feel fortunate to share the platform with a very distinguished international expert Dr. YRK Reddy of the Academy of Corporate Governance. Keeping in view the discussions on corporate governance scheduled at the seminar I intend to give a brief overview of the role and importance of corporate governance in the banking sector, initiatives undertaken by RBI and then a flag a few generic issues

After such an illuminating lecture by Prof. Krueger and a very lively discussion, I would with your permission, dispense with the formality of a formal address. However, as is expected of me, I will make a few comments. At the outset, I should confess the main reasons for my being here. It is out of my personal affection, great respect for scholarship and admiration for the leadership as well as diplomatic skills of Prof. Krueger, that I made it a point to be here. Of

When we last met in London in October, I had talked about medium and long-term issues related to globalisation and possible enduring imbalances in the medium- and long-term. I had talked in particular about the consequences of economic demographics and ageing. So I am delighted that this is now a specific subject for discussion in this meeting. Today, I will focus on possible short-term issues that may arise as the current economic imbalances are corrected. Recent dat

The promise of lower transaction costs, increased sales productivity, and more convenient service has lured banks into setting up new delivery channels. Earlier, vast brick and mortar branch network has been considered as an inherent advantage of established banks and new entrants were at huge disadvantage vis-à-vis the established players in terms of customer reach. However, post 1990s new players are effectively taking on the branch network advantage of the establis

I have great pleasure in welcoming you on behalf of Finance Minister, Mr. Jaswant Singh, on behalf of Reserve Bank of India and, on my own behalf. India has been playing active role in researching and debating issues relating to development, particularly in the context of developing nations. We believe that holding of the Global Development Netowrk (GDN) Annual Conference in India is a tribute to our approach to reform, and is also a recognition of the need to continu

Friends, I am delighted to be here in the Lal Bahadur Shastri National Academy of Administration, Mussoorie. You are among the few that have succeeded in perhaps one of the most competitive and fairest examinations in the world. You have the additional advantage of having spent some time in the rural and semi urban areas of our country while in the districts. I chose the subject `India and global economy’ precisely because during the next three to four decades that yo

Dear Shri Bajpaiji, Shri C. S. Rao garu, Shri Kamesam, Dr. Gulati and friends, At the outset, I am thankful to the Institute for inviting me to this function and giving the pleasure of being with you all. The programme clearly says that I have to give some concluding remarks. This makes it clear that my presence is essentially ceremonial – hand over the certificates to the bright young people and just give a few remarks, basically perhaps because the Reserve Bank of I

I deem it an honour and a privilege to speak before this august gathering on the occasion of the Nani Palkhivala Memorial Oration. While conferring on him the Honorary degree of Doctor of Laws, Shri Nani Palkhivala was described by Princeton University, USA, as a "defender of constitutional liberties, champion of human rights, teacher, author and economic developer". This description, however, does not capture the brilliance of the man’s mind, the eloquence of his spe

FICCI has been in the forefront of creating a platform for healthy debate and discussion leading to responsible actions. I would like to thank FICCI for inviting me to speak at this Forum especially as there are several high level functionaries who have travelled great distances to be with us on this occasion. It is a wonderful opportunity and I would certainly use it to explore a few issues at the frontiers of regulation and supervision. Some of these are unsettled i