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जून 10, 2011
Financial Stability: Some Issues
Dear Governor Subbarao, Esteemed Mr. Jaime Caruana, Respected Governors of Central Banks of SAARC region, distinguished central bankers and friends, I am grateful to my friend and distinguished successor Governor Subbarao and RBI, for giving me this opportunity to be with this august gathering. The subject for the Symposium is very timely, and is of great significance for the central banks. I want to congratulate the scholars in RBI for outstanding concept papers. The
Dr. Y. V. Reddy, Former Governor, Reserve Bank of India
Dear Governor Subbarao, Esteemed Mr. Jaime Caruana, Respected Governors of Central Banks of SAARC region, distinguished central bankers and friends, I am grateful to my friend and distinguished successor Governor Subbarao and RBI, for giving me this opportunity to be with this august gathering. The subject for the Symposium is very timely, and is of great significance for the central banks. I want to congratulate the scholars in RBI for outstanding concept papers. The
जून 10, 2011
Wrap up and Concluding Remarks
Governor Dr. Subbarao, governors of other SAARC member countries, heads of country delegations, Dr. Reddy, Dr. Caruana, Mr. Ninan and distinguished participants from the SAARC central banks and friends, It has been a long day of exciting and thought provoking discussions on the very important issue of financial stability. The backwaters of Kumarakom and the tranquil atmosphere of Zuri has provided the perfect setting for a free flow of ideas throughout the day. The th
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
Governor Dr. Subbarao, governors of other SAARC member countries, heads of country delegations, Dr. Reddy, Dr. Caruana, Mr. Ninan and distinguished participants from the SAARC central banks and friends, It has been a long day of exciting and thought provoking discussions on the very important issue of financial stability. The backwaters of Kumarakom and the tranquil atmosphere of Zuri has provided the perfect setting for a free flow of ideas throughout the day. The th
जून 10, 2011
Financial Stability Mandate of Central Banks Issues in the International and Indian Context
Financial stability has come centre stage in the post crisis scenario. The discourse has been quite broad spectrum - ranging from first principles such as the definition of financial stability to intellectually involved issues like the implication of financial stability for growth and welfare. Although the crisis originated in the advanced economies, we, in emerging economies too have been affected by it, and indeed by much more than we had thought possible. This cont
Dr. D. Subbarao, Governor, Reserve Bank of India
Financial stability has come centre stage in the post crisis scenario. The discourse has been quite broad spectrum - ranging from first principles such as the definition of financial stability to intellectually involved issues like the implication of financial stability for growth and welfare. Although the crisis originated in the advanced economies, we, in emerging economies too have been affected by it, and indeed by much more than we had thought possible. This cont
जून 10, 2011
Monetary policy in a world with macroprudential policy
Introduction Ladies and gentlemen, it is a privilege to be able to speak today to this distinguished group of Governors. As for my subject, I will focus on how monetary policy might need to adjust to the implementation of new macroprudential frameworks. To speak on this topic in India is almost presumptuous, given that the Reserve Bank of India is among those central banks, mainly Asian ones, that have successfully combined both monetary policy and macroprudential mea
Jaime Caruana, General Manager, Bank for International Settlements
Introduction Ladies and gentlemen, it is a privilege to be able to speak today to this distinguished group of Governors. As for my subject, I will focus on how monetary policy might need to adjust to the implementation of new macroprudential frameworks. To speak on this topic in India is almost presumptuous, given that the Reserve Bank of India is among those central banks, mainly Asian ones, that have successfully combined both monetary policy and macroprudential mea
जून 10, 2011
Welcome remarks by Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India at SAARCFINANCE Governors’ Symposium on ‘Financial Stability’
1. Governor Dr. Subbarao, distinguished Governors, Dr. Reddy, Mr. Caruana, Mr. Ninan, Mrs. Thorat, Deputy Governors, our guests from SAARC central banks and friends. On behalf of the Reserve Bank of India, I extend a warm welcome to you all to the SAARCFINANCE Governor’s Symposium 2011 on the theme of Financial Stability. Just to refresh your memories, the last Governors Symposium organized by us under Dr. Reddy was in 2005 at Mumbai which dealt with the theme of ‘Com
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
1. Governor Dr. Subbarao, distinguished Governors, Dr. Reddy, Mr. Caruana, Mr. Ninan, Mrs. Thorat, Deputy Governors, our guests from SAARC central banks and friends. On behalf of the Reserve Bank of India, I extend a warm welcome to you all to the SAARCFINANCE Governor’s Symposium 2011 on the theme of Financial Stability. Just to refresh your memories, the last Governors Symposium organized by us under Dr. Reddy was in 2005 at Mumbai which dealt with the theme of ‘Com
जून 06, 2011
गैर-वित्तीय रिपोर्टिंग- क्या, क्यों और कैसे - भारतीय परिदृश्य : के.सी. चक्रवर्ती
Mr Stefan Helming, Country Director, GIZ India, Mr Rakesh Rewari, DMD, SIDBI, Prof Rajeev Gowda, Chair, Centre for Public Policy, IIM-Bangalore, Ms Karin Ireton, Director, Group Sustainability Management, Standard Bank, Dr Aditi Haldar, Director, GRI, India, Ms Richa Bajpai- co founder NextGen, distinguished guests, ladies and gentlemen. It is a pleasure to be here at this National Conference on “Non-Financial Reporting and Risk Management for Financial Institutions i
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Mr Stefan Helming, Country Director, GIZ India, Mr Rakesh Rewari, DMD, SIDBI, Prof Rajeev Gowda, Chair, Centre for Public Policy, IIM-Bangalore, Ms Karin Ireton, Director, Group Sustainability Management, Standard Bank, Dr Aditi Haldar, Director, GRI, India, Ms Richa Bajpai- co founder NextGen, distinguished guests, ladies and gentlemen. It is a pleasure to be here at this National Conference on “Non-Financial Reporting and Risk Management for Financial Institutions i
जून 01, 2011
प्रतिभा अभिप्राप्ति और प्रबंधन : डॉ. के. सी. चक्रवर्ती
Shri M. Balachandran, Director, IBPS, Shri K. Ramakrishnan, CEO, IBA, members of Governing Board of the IBPS, faculty members of IBPS, my old friends and colleagues, Mr. Saurabh Tripathi of BCG who made an excellent presentation, distinguished guests, ladies and gentlemen. It is a pleasure and privilege to be here at the Seminar on Talent Acquisition and Management organized by the IBPS. The Seminar has very interesting objectives in that it attempts to review and evo
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Shri M. Balachandran, Director, IBPS, Shri K. Ramakrishnan, CEO, IBA, members of Governing Board of the IBPS, faculty members of IBPS, my old friends and colleagues, Mr. Saurabh Tripathi of BCG who made an excellent presentation, distinguished guests, ladies and gentlemen. It is a pleasure and privilege to be here at the Seminar on Talent Acquisition and Management organized by the IBPS. The Seminar has very interesting objectives in that it attempts to review and evo
मई 31, 2011
बैंकिंग प्रौद्योगिकी: आनन्द सिन्हा
I would like to thank IDRBT for inviting me to address you on the above topic. I must appreciate IDRBT for choosing this topic for the Seminar and inviting Directors of Indian banks, as all the issues chosen for the Seminar are very relevant today for banking. 2. At the outset, I would like to quote Bill Gates who has very rightly summarized the significance of technology in today’s world and I quote “The first rule of any technology used in a business is that automat
श्री आनंद सिन्हा, उप गवर्नर, भारतीय रिज़र्व बैंक
I would like to thank IDRBT for inviting me to address you on the above topic. I must appreciate IDRBT for choosing this topic for the Seminar and inviting Directors of Indian banks, as all the issues chosen for the Seminar are very relevant today for banking. 2. At the outset, I would like to quote Bill Gates who has very rightly summarized the significance of technology in today’s world and I quote “The first rule of any technology used in a business is that automat
मई 10, 2011
अंत: सहबद्ध वैश्विक अर्थव्यवस्था में नीति अनुशासन और भारी जमाव : दुव्वुरी सुब्बाराव
The interconnected world is not new. We have been living in it for some time. For half a century, exports, international capital flows, and foreign direct investment have been growing much faster than GDP, binding economies ever more tightly together. In many ways, this process has been a tremendous force for good. My own country, India, is testament to that. Integration with the world contributed to growth, lifting hundreds of millions of people out of poverty. But i
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
The interconnected world is not new. We have been living in it for some time. For half a century, exports, international capital flows, and foreign direct investment have been growing much faster than GDP, binding economies ever more tightly together. In many ways, this process has been a tremendous force for good. My own country, India, is testament to that. Integration with the world contributed to growth, lifting hundreds of millions of people out of poverty. But i
मई 09, 2011
भारत में व्युत्पन्नी बाजारों पर विनियामक परिप्रेक्ष्य : सुबीर गोकर्ण
Introduction It is a pleasure for me to be speaking at this conference organized by the International Options Market Association. The presence and role of derivatives in India, both OTC and Exchange traded, has been increasing steadily over the years. These instruments are an important component of the overall financial sector strategy and the broad regulatory objective is to ensure that they are used to their potential in ways that are consistent with both financial
डॉ. सुबीर गोकर्ण, उप गवर्नर, भारतीय रिज़र्व बैंक
Introduction It is a pleasure for me to be speaking at this conference organized by the International Options Market Association. The presence and role of derivatives in India, both OTC and Exchange traded, has been increasing steadily over the years. These instruments are an important component of the overall financial sector strategy and the broad regulatory objective is to ensure that they are used to their potential in ways that are consistent with both financial
मई 09, 2011
केंद्रीय बैंक अभिशासन मामला-भारतीय रिज़र्व बैंक के कुछ परिप्रेक्ष्य : दुव्वुरी सुब्बाराव
Thank you for this opportunity to speak on some central bank governance issues from the perspective of the Reserve Bank of India (RBI). I will raise some specific issues. But before getting into them, I want to make two broad comments about the mandate of the Reserve Bank and our systems of autonomy and accountability. That will give you the broad context for appreciating the specific issues that I will raise later. RBI’s Mandate 2. RBI has a mandate that is wider tha
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
Thank you for this opportunity to speak on some central bank governance issues from the perspective of the Reserve Bank of India (RBI). I will raise some specific issues. But before getting into them, I want to make two broad comments about the mandate of the Reserve Bank and our systems of autonomy and accountability. That will give you the broad context for appreciating the specific issues that I will raise later. RBI’s Mandate 2. RBI has a mandate that is wider tha
अप्रैल 17, 2011
वैश्विक चुनौतियां, वैश्विक समाधान: कुछ टिप्पणियां-दुव्वुरी सुब्बाराव
Mr. Chairman 1. Recent experience suggests that globalization offers incredible opportunities but also poses immense challenges. If the years before the global financial crisis - the period of the so called ‘Great Moderation’ - demonstrated the benefits of globalization, the devastating toll of the crisis showed its costs. Just as in the case of an economy, there are price setters and price takers, in the international economy too, there are economies which shape the
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
Mr. Chairman 1. Recent experience suggests that globalization offers incredible opportunities but also poses immense challenges. If the years before the global financial crisis - the period of the so called ‘Great Moderation’ - demonstrated the benefits of globalization, the devastating toll of the crisis showed its costs. Just as in the case of an economy, there are price setters and price takers, in the international economy too, there are economies which shape the
अप्रैल 17, 2011
अंतरराष्ट्रीय मुद्रा और वित्त समिति में दिया गया वक्तव्य-दुव्वुरी सुब्बाराव
Leader of the Indian Delegation to the International Monetary and Financial Committee Washington D.C., April 16, 2011 Mr. Chairman, 1. There have been significant developments in the global economy since we met in the fall of 2010. The IMF too has moved on several fronts under its mandate which has strengthened its position in a changing world. There are several key questions confronting us today: Is the recovery assured in the face of still turbulent financial condit
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
Leader of the Indian Delegation to the International Monetary and Financial Committee Washington D.C., April 16, 2011 Mr. Chairman, 1. There have been significant developments in the global economy since we met in the fall of 2010. The IMF too has moved on several fronts under its mandate which has strengthened its position in a changing world. There are several key questions confronting us today: Is the recovery assured in the face of still turbulent financial condit
अप्रैल 16, 2011
वैश्विक अर्थव्यवस्था और ढांचा-दुव्वुरी सुब्बाराव
Chairperson, Finance Ministers and colleague Governors, 1. After its very successful efforts at a coordinated response to the challenges emerging out of the recent unprecedented global financial crisis and safeguarding the process of economic recovery, the G-20 is now turning to the more challenging task of addressing structural imbalances in the global economy. India has had the privilege of co-chairing, together with Canada, the G-20 collective effort towards drawin
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
Chairperson, Finance Ministers and colleague Governors, 1. After its very successful efforts at a coordinated response to the challenges emerging out of the recent unprecedented global financial crisis and safeguarding the process of economic recovery, the G-20 is now turning to the more challenging task of addressing structural imbalances in the global economy. India has had the privilege of co-chairing, together with Canada, the G-20 collective effort towards drawin
अप्रैल 05, 2011
उद्यमशीलता को ऋण के साथ जोड़ना -वित्तीय प्रणाली की भूमिका-के.सी. चक्रवर्ती
Shri R.M. Malla, President-EDI, Members of the Governing Council, Director Dr.Dinesh Awasthi, invited dignitaries, faculty members, passing out students and their parents, members of the print and electronic media, ladies and gentlemen. It is, indeed, a pleasure to be here amongst graduating students and I am thankful to Shri Malla and the EDI for this opportunity especially when it is an opportunity to return to my home state, Gujarat. A galaxy of speakers have addre
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Shri R.M. Malla, President-EDI, Members of the Governing Council, Director Dr.Dinesh Awasthi, invited dignitaries, faculty members, passing out students and their parents, members of the print and electronic media, ladies and gentlemen. It is, indeed, a pleasure to be here amongst graduating students and I am thankful to Shri Malla and the EDI for this opportunity especially when it is an opportunity to return to my home state, Gujarat. A galaxy of speakers have addre
अप्रैल 05, 2011
आर्थिक वृद्धि की निरंतरता और मुद्रास्फीति का नियंत्रण : भावी दिशाएं-सुबीर गोकण
It is my pleasure to speak at FICCI’s National Executive Committee Meeting this year. As many observers have been highlighting, after a relatively long phase of benign, growth-friendly macroeconomic conditions, things have begun to look somewhat hostile on the macroeconomic front. The most significant manifestation of this is the acceleration of inflation, a trend that was visible even before the impact of the financial crisis was felt in late 2008, but which very qui
डॉ. सुबीर गोकर्ण, उप गवर्नर, भारतीय रिज़र्व बैंक
It is my pleasure to speak at FICCI’s National Executive Committee Meeting this year. As many observers have been highlighting, after a relatively long phase of benign, growth-friendly macroeconomic conditions, things have begun to look somewhat hostile on the macroeconomic front. The most significant manifestation of this is the acceleration of inflation, a trend that was visible even before the impact of the financial crisis was felt in late 2008, but which very qui
अप्रैल 01, 2011
वैश्विक वित्तीय संकट से मौद्रिक नीति के सबक:उभरते बाजार का परिदृश्य-दीपक मोहंती
The global financial crisis has challenged the conventional views on the role of monetary policy. Post-crisis, the weight of arguments tilts towards acceptance of financial stability as an objective of central bank or monetary policy. However, the key challenge is to evolve a consistent framework for implementation. While interest rate can continue as the dominant instrument for implementing monetary policy, supplementing it with other quantity or macro-prudential ins
श्री दीपक मोहंती, कार्यपालक निदेशक, रिज़र्व बैंक ऑफ इंडिया
The global financial crisis has challenged the conventional views on the role of monetary policy. Post-crisis, the weight of arguments tilts towards acceptance of financial stability as an objective of central bank or monetary policy. However, the key challenge is to evolve a consistent framework for implementation. While interest rate can continue as the dominant instrument for implementing monetary policy, supplementing it with other quantity or macro-prudential ins
मार्च 29, 2011
वैश्विक एजेंडा में अग्रणी मुद्दे उभरती अर्थव्यवस्था का दृष्टिकोण-दुव्वुरी सुब्बाराव
First of all, my thanks to the Central Bank of Sri Lanka (CBSL) and to Governor Cabraal for inviting me to deliver this commemorative oration as part of CBSL’s Diamond Jubilee celebrations. I gather that a number of distinguished people have given orations as part of this anniversary series. I am indeed honoured to add my name to that very select list. My compliments to the management and staff of CBSL on this happy and historic occasion. 2. As institutions, central b
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
First of all, my thanks to the Central Bank of Sri Lanka (CBSL) and to Governor Cabraal for inviting me to deliver this commemorative oration as part of CBSL’s Diamond Jubilee celebrations. I gather that a number of distinguished people have given orations as part of this anniversary series. I am indeed honoured to add my name to that very select list. My compliments to the management and staff of CBSL on this happy and historic occasion. 2. As institutions, central b
मार्च 28, 2011
वित्तीय समावेशन: उपभोक्ता केंद्रित दृष्टिकोण-सुबीर गोकर्ण
I. Introduction It is a great pleasure for me to be delivering the VIth V. Narayanan Memorial Lecture. I never had the opportunity to meet Mr. Narayanan, but, from what I have heard and read about him, he was clearly a person dedicated to the mission of expanding the reach of and access to banking services in a way which benefitted both the customer and the service provider. As you may know, the financial inclusion agenda has assumed top priority in the Reserve Bank o
डॉ. सुबीर गोकर्ण, उप गवर्नर, भारतीय रिज़र्व बैंक
I. Introduction It is a great pleasure for me to be delivering the VIth V. Narayanan Memorial Lecture. I never had the opportunity to meet Mr. Narayanan, but, from what I have heard and read about him, he was clearly a person dedicated to the mission of expanding the reach of and access to banking services in a way which benefitted both the customer and the service provider. As you may know, the financial inclusion agenda has assumed top priority in the Reserve Bank o
मार्च 24, 2011
उत्तर-पूर्व राज्यों में आर्थिक एवं वित्तीय विकास-दीपक मोहंती
I thank Gauhati University for inviting me to address this distinguished gathering. The North-Eastern States (NES)1, also known as land of seven sisters, are very richly endowed. The North-Eastern region covers 5.5 per cent of the total geographical area of the country and accounts for 3.9 per cent of the national population and 2.7 per cent of all-India net domestic product (NDP). The lushness of its landscape, geographical and ecological diversity and range of commu
श्री दीपक मोहंती, कार्यपालक निदेशक, रिज़र्व बैंक ऑफ इंडिया
I thank Gauhati University for inviting me to address this distinguished gathering. The North-Eastern States (NES)1, also known as land of seven sisters, are very richly endowed. The North-Eastern region covers 5.5 per cent of the total geographical area of the country and accounts for 3.9 per cent of the national population and 2.7 per cent of all-India net domestic product (NDP). The lushness of its landscape, geographical and ecological diversity and range of commu
मार्च 16, 2011
बैंकिंग और उससे आगे: भारतीय वित्तीय प्रणाली के सामने नयी चुनौतियाँ-के.सी. चक्रवर्ती
Lord Stephen Green, Minister for Trade and Investment, UK, distinguished panelists, distinguished guests, ladies and gentlemen. First of all my thanks to Mint, Mumbai, and to my good friends Tamal and R Sukumar for inviting me to initiate today’s debate – “Banking & Beyond: New Challenges Before Indian Financial System” with a panel of luminaries on the stage. Over the years, Mint, through its Clarity Through Debate trail-blazer series has been flagging topical pu
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Lord Stephen Green, Minister for Trade and Investment, UK, distinguished panelists, distinguished guests, ladies and gentlemen. First of all my thanks to Mint, Mumbai, and to my good friends Tamal and R Sukumar for inviting me to initiate today’s debate – “Banking & Beyond: New Challenges Before Indian Financial System” with a panel of luminaries on the stage. Over the years, Mint, through its Clarity Through Debate trail-blazer series has been flagging topical pu
फ़रवरी 24, 2011
भारतीय रिज़र्व बैंक और आपके दैनिक जीवन में परिवर्तन-दुव्वुरी सुब्बाराव
First of all, my thanks to the Governor and Chancellor, HE Shri M.C. Bhandare, Vice Chancellor Professor Pujari, faculty and students of Sambalpur University for inviting me to be the convocation speaker this year. This is an honour to which I attach a lot of value. It feels wonderful to be in this beautiful state of Orissa and in the bustling Sambalpur area. Changes Around the World 2. All of you young graduates, passing out with degrees today, are a delightful sight
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
First of all, my thanks to the Governor and Chancellor, HE Shri M.C. Bhandare, Vice Chancellor Professor Pujari, faculty and students of Sambalpur University for inviting me to be the convocation speaker this year. This is an honour to which I attach a lot of value. It feels wonderful to be in this beautiful state of Orissa and in the bustling Sambalpur area. Changes Around the World 2. All of you young graduates, passing out with degrees today, are a delightful sight
फ़रवरी 21, 2011
पूंजी खाता प्रबंध के प्रति दृष्टिकोण -बदलता स्वरूप?-श्यामला गोपीनाथ
1. Thank you for inviting me to this forum once again and that too in these sublime environs. Only in such sublimity could the deeply spiritual concept of “Gross National Happiness” have been crystallised into a national policy mission. The theory of Gross National Happiness (GNH) established by His Majesty the King of Bhutan in 1972, defines Bhutan’s development objective as improvement in the happiness and satisfaction of the people rather than growth of Gross Natio
श्रीमती श्यामला गोपीनाथ, उप गवर्नर, भारतीय रिज़र्व बैंक
1. Thank you for inviting me to this forum once again and that too in these sublime environs. Only in such sublimity could the deeply spiritual concept of “Gross National Happiness” have been crystallised into a national policy mission. The theory of Gross National Happiness (GNH) established by His Majesty the King of Bhutan in 1972, defines Bhutan’s development objective as improvement in the happiness and satisfaction of the people rather than growth of Gross Natio
फ़रवरी 18, 2011
कोर बैंकिंग समाधान से परे तेज भागती बैंकिंग 2.0!-के. सी. चक्रवर्ती
Shri M V Nair, Chairman & Managing Director, Union Bank of India, Shri B Sambamurthy, Director, IDRBT, Shri S S Mundra, Executive Director, Union Bank of India, Shri M G Sanghvi, Executive Director, Bank of Maharashtra, senior bankers, other distinguished guest, ladies and gentlemen.  It is a pleasure to be in your midst today at this Executive Roundtable organised by IDRBT in association with Union Bank of India on the theme “Beyond Core Banking”. As you may
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Shri M V Nair, Chairman & Managing Director, Union Bank of India, Shri B Sambamurthy, Director, IDRBT, Shri S S Mundra, Executive Director, Union Bank of India, Shri M G Sanghvi, Executive Director, Bank of Maharashtra, senior bankers, other distinguished guest, ladies and gentlemen.  It is a pleasure to be in your midst today at this Executive Roundtable organised by IDRBT in association with Union Bank of India on the theme “Beyond Core Banking”. As you may
फ़रवरी 14, 2011
अंतरराष्ट्रीय वित्तीय रिपोर्टिंग मानक लागू करना -संबंधित मुद्दे और चुनौतियां- के. सी. चक्रवर्ती
Dr Naresh Chandra, Principal, Birla College, Former Pro Vice Chancellor, Mumbai University, Dr Shyam Agrawal, eminent eye surgeon, Shri M. M. Chitale, veteran CA and Chairman NACAS, Shri U. Venkataraman, CEO- Currency Derivatives Segment & Whole Time Director, MCX-SX, Principal of PDL College of Commerce and Economics and my dear student Dr N. N. Pandey, Prof D. M. Kadhi, Convenor, other distinguished guests, ladies and gentlemen. I am delighted to be present here
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Dr Naresh Chandra, Principal, Birla College, Former Pro Vice Chancellor, Mumbai University, Dr Shyam Agrawal, eminent eye surgeon, Shri M. M. Chitale, veteran CA and Chairman NACAS, Shri U. Venkataraman, CEO- Currency Derivatives Segment & Whole Time Director, MCX-SX, Principal of PDL College of Commerce and Economics and my dear student Dr N. N. Pandey, Prof D. M. Kadhi, Convenor, other distinguished guests, ladies and gentlemen. I am delighted to be present here
फ़रवरी 11, 2011
स्वागत भाषण: तृतीय पी. आर. ब्रह्मानन्द स्मारक व्याख्यान-दुव्वुरी सुब्बाराव
I have great pleasure in welcoming Governor Stanley Fischer who will shortly be delivering the P.R. Brahmananda Memorial Lecture. A hearty welcome also to the members of the family of late Prof. Brahmananda - Shri P.R. Ramaswamy, and Smt. and Shri P.R. Vishwanath. Of course, a warm welcome to all the invitees, who have made time to come for this lecture. Prof. Brahmananda 2. Professor Brahmananda was a distinguished academic, a noted researcher and a respected teacher
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
I have great pleasure in welcoming Governor Stanley Fischer who will shortly be delivering the P.R. Brahmananda Memorial Lecture. A hearty welcome also to the members of the family of late Prof. Brahmananda - Shri P.R. Ramaswamy, and Smt. and Shri P.R. Vishwanath. Of course, a warm welcome to all the invitees, who have made time to come for this lecture. Prof. Brahmananda 2. Professor Brahmananda was a distinguished academic, a noted researcher and a respected teacher
जनवरी 31, 2011
केंद्रीय बैंक के तुलन-पत्र के विस्तार का असर*-दुव्वुरी सुब्बाराव
1. At the outset, let me congratulate the BIS for bringing out a very analytical and comprehensive paper on the subject. The topic for the session has been thrown into prominence by the experience of the recent financial crisis when many central banks were forced to adopt an expansionary stance of monetary policy. The expansion of balance sheets of central banks has important monetary and financial implications. In normal times, a central bank’s balance sheet attracts
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
1. At the outset, let me congratulate the BIS for bringing out a very analytical and comprehensive paper on the subject. The topic for the session has been thrown into prominence by the experience of the recent financial crisis when many central banks were forced to adopt an expansionary stance of monetary policy. The expansion of balance sheets of central banks has important monetary and financial implications. In normal times, a central bank’s balance sheet attracts
जनवरी 19, 2011
भुगतान प्रणाली की नई प्रवृत्तियाँ और चुनौतियाँ*-के. सी. चक्रवर्ती
It is a pleasure and privilege to be here at the Banknet’s 7th Annual Conference on Payment Systems. The theme of today’s conference – ‘Moving to next generation payment systems & solutions’ - is fitting especially at a time when the banking industry is going through a transitional phase of broadening, deepening and strengthening the financial services available to the masses. I take this opportunity to congratulate Banknet for providing this platform for the bank
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
It is a pleasure and privilege to be here at the Banknet’s 7th Annual Conference on Payment Systems. The theme of today’s conference – ‘Moving to next generation payment systems & solutions’ - is fitting especially at a time when the banking industry is going through a transitional phase of broadening, deepening and strengthening the financial services available to the masses. I take this opportunity to congratulate Banknet for providing this platform for the bank
जनवरी 10, 2011
वित्तीय प्रणाली में बैंकों की प्रमुखता*-श्यामला गोपीनाथ
1. I am delighted to be present here amongst you all on the occasion of the 12th Annual Conference of FIMMDA-PDAI. These conferences have over the years assumed importance in not just bringing the participants together to tally notes and network but to take a pause and reflect over the issues arising out of fast changing times. 2. I see from the agenda for the conference that the focus is on the emerging post-crisis regulatory landscape for the financial sector – Base
श्रीमती श्यामला गोपीनाथ, उप गवर्नर, भारतीय रिज़र्व बैंक
1. I am delighted to be present here amongst you all on the occasion of the 12th Annual Conference of FIMMDA-PDAI. These conferences have over the years assumed importance in not just bringing the participants together to tally notes and network but to take a pause and reflect over the issues arising out of fast changing times. 2. I see from the agenda for the conference that the focus is on the emerging post-crisis regulatory landscape for the financial sector – Base
जनवरी 07, 2011
केंद्रीय बैंक संप्रेषण में दुविधा की स्थिति : आधारित कुछ विचार*-दुव्वुरी सुब्बाराव
First of all my thanks to Business Standard, and to my good friends T.N. Ninan and Sanjaya Baru, for inviting me to deliver this second Business Standard Annual lecture. This is an honour to which I attach a lot of value. Central Bank Communication 2. As a part of my job, I accept several speaking commitments, and often I struggle to determine the topic for my speech and the key message I should be delivering. From that perspective, deciding on a topic for this lectur
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
First of all my thanks to Business Standard, and to my good friends T.N. Ninan and Sanjaya Baru, for inviting me to deliver this second Business Standard Annual lecture. This is an honour to which I attach a lot of value. Central Bank Communication 2. As a part of my job, I accept several speaking commitments, and often I struggle to determine the topic for my speech and the key message I should be delivering. From that perspective, deciding on a topic for this lectur
दिसंबर 16, 2010
एएसइएम सम्मेलन में स्वागत भाषण*-दीपक मोहंती
1. Mr. Peter Bekx, Director, European Commission. Mr. Subir Gokarn, Deputy Governor. Mr. Moreno Bertoldi, Head of Unit, European Commission. Ms. Valerie Rouxel-Laxton, Head of Sector, European Commission. Distinguished representatives from the ASEM member countries. Esteemed colleagues of central banks, representatives from multilateral organisations, think-tanks and academia, distinguished experts and friends. I am really privileged to have this pleasant opportunity
श्री दीपक मोहंती, कार्यपालक निदेशक, रिज़र्व बैंक ऑफ इंडिया
1. Mr. Peter Bekx, Director, European Commission. Mr. Subir Gokarn, Deputy Governor. Mr. Moreno Bertoldi, Head of Unit, European Commission. Ms. Valerie Rouxel-Laxton, Head of Sector, European Commission. Distinguished representatives from the ASEM member countries. Esteemed colleagues of central banks, representatives from multilateral organisations, think-tanks and academia, distinguished experts and friends. I am really privileged to have this pleasant opportunity
दिसंबर 10, 2010
भारत के लिए आर्थिक वृद्धि की संभावनाएँ और नीति अनिवार्यताएँ*-के. सी. चक्रवर्ती
Mr Harshvardhan Neotia, Chairman, CII- Suresh Neotia Centre of Excellence for Leadership, distinguished guests, ladies and gentlemen, let me begin by thanking the organisers for inviting me to deliver this address on a theme which is both topical and of considerable relevance. My objective is to give a realistic assessment of the prospects of India’s economic growth, and the policy imperatives to achieve what is within our reach, while also ensuring that we do not fal
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Mr Harshvardhan Neotia, Chairman, CII- Suresh Neotia Centre of Excellence for Leadership, distinguished guests, ladies and gentlemen, let me begin by thanking the organisers for inviting me to deliver this address on a theme which is both topical and of considerable relevance. My objective is to give a realistic assessment of the prospects of India’s economic growth, and the policy imperatives to achieve what is within our reach, while also ensuring that we do not fal
दिसंबर 09, 2010
संकट के बाद मौद्रिक नीति पर विचार:व्यवहारकर्ताओं का दृष्टिकोण*-सुबीर गोकर्ण
Introduction I would like to thank the Ministry of Finance and the National Institute of Public Finance and Policy for inviting me to speak at this International Conference on Economic Policies for Inclusive Development. We tend to associate the process of inclusive growth and development with structural factors and the roles that they play in accelerating growth, enhancing labour productivity, creating human capital, providing access to safety nets and essential publ
डॉ. सुबीर गोकर्ण, उप गवर्नर, भारतीय रिज़र्व बैंक
Introduction I would like to thank the Ministry of Finance and the National Institute of Public Finance and Policy for inviting me to speak at this International Conference on Economic Policies for Inclusive Development. We tend to associate the process of inclusive growth and development with structural factors and the roles that they play in accelerating growth, enhancing labour productivity, creating human capital, providing access to safety nets and essential publ
दिसंबर 08, 2010
मिंट रोड माइलस्टोन*- दुव्वुरी सुब्बाराव
1. I am delighted to inaugurate this Newsibition of the Reserve Bank in this City of Joy. 2. Last year, the Reserve Bank celebrated our Platinum Jubilee. As part of the celebrations, we documented the 75 years of the Reserve Bank's history in the form of a book - Mint Road Milestones. Milestones is rich treasure trove of archival material including, photographs, news clippings, documents along with a commentary which weaves them all together in an interesting narrativ
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
1. I am delighted to inaugurate this Newsibition of the Reserve Bank in this City of Joy. 2. Last year, the Reserve Bank celebrated our Platinum Jubilee. As part of the celebrations, we documented the 75 years of the Reserve Bank's history in the form of a book - Mint Road Milestones. Milestones is rich treasure trove of archival material including, photographs, news clippings, documents along with a commentary which weaves them all together in an interesting narrativ
दिसंबर 03, 2010
भारतीय बैंकिंग में पाँच सीमांत मुद्दे*- दुव्वुरी सुब्बाराव
First of all, many thanks to the organizers of BANCON 2010 for inviting me to inaugurate this conference. I understand this is a premier banking conference on the annual calendar where the top managements of banks and their economists brainstorm on current issues. The theme for this year’s conference ‘Ideate, Innovate and Inspire’ is thoughtful, imaginative, and most importantly, inspirational. 2. In the aftermath of the crisis, banks, banking and bankers are very muc
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
First of all, many thanks to the organizers of BANCON 2010 for inviting me to inaugurate this conference. I understand this is a premier banking conference on the annual calendar where the top managements of banks and their economists brainstorm on current issues. The theme for this year’s conference ‘Ideate, Innovate and Inspire’ is thoughtful, imaginative, and most importantly, inspirational. 2. In the aftermath of the crisis, banks, banking and bankers are very muc
नवंबर 29, 2010
Inclusive Growth – Role of Financial Sector
Prof Ashok Kolaskar, Vice Chancellor, KIIT University, Dr Achyuta Samanta, Founder, KIIT University & KISS, Dr Karmarkar, MD, NABARD, distinguished guests, ladies and gentlemen. It is a pleasure and privilege to be here at the National Finance Conclave – 2010 being organized by School of Management, KIIT University, Bhubaneswar. KIIT University under the leadership of Dr Samanta is a living example to the society of the way of practicing social inclusion through s
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Prof Ashok Kolaskar, Vice Chancellor, KIIT University, Dr Achyuta Samanta, Founder, KIIT University & KISS, Dr Karmarkar, MD, NABARD, distinguished guests, ladies and gentlemen. It is a pleasure and privilege to be here at the National Finance Conclave – 2010 being organized by School of Management, KIIT University, Bhubaneswar. KIIT University under the leadership of Dr Samanta is a living example to the society of the way of practicing social inclusion through s
नवंबर 23, 2010
Remarks by Smt Shyamala Gopinath, DG, RBI at the inauguration of Inter-Bank Mobile Payment Service of the National Payment Corporation of India at Mumbai on November 22, 2010
1. Mr Hota, Mr Balachandran, my colleague Mr Padmanabhan, other executives of NPCI, fellow bankers, other dignitaries and my media friends present here. I am honoured to be here and I thank the NPCI for inviting me to inaugurate the Interbank Mobile Payment Services (IMPS), which has the potential to change the retail payment landscape in India provided all the stakeholders get it right. 2. The success of mobile penetration in India is now widely recognized. This huge
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
1. Mr Hota, Mr Balachandran, my colleague Mr Padmanabhan, other executives of NPCI, fellow bankers, other dignitaries and my media friends present here. I am honoured to be here and I thank the NPCI for inviting me to inaugurate the Interbank Mobile Payment Services (IMPS), which has the potential to change the retail payment landscape in India provided all the stakeholders get it right. 2. The success of mobile penetration in India is now widely recognized. This huge
नवंबर 15, 2010
Developing the Humanware to Improve Customer Service
Mrs Udeshi, Chairperson, Banking Codes and Standards Board of India (BCSBI), Shri O. P. Bhatt, President, Indian Institute of Banking and Finance (IIBF) and Chairman, IBA, Shri B. M. Mittal, CEO, BCSBI, Shri Bhaskaran, CEO, IIBF, distinguished guests, ladies and gentlemen. It gives me great pleasure to be here to launch the Certificate Course on "Customer Service and Banking Codes and Standards" that has been designed by IIBF in association with BCSBI. IIBF has played
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mrs Udeshi, Chairperson, Banking Codes and Standards Board of India (BCSBI), Shri O. P. Bhatt, President, Indian Institute of Banking and Finance (IIBF) and Chairman, IBA, Shri B. M. Mittal, CEO, BCSBI, Shri Bhaskaran, CEO, IIBF, distinguished guests, ladies and gentlemen. It gives me great pleasure to be here to launch the Certificate Course on "Customer Service and Banking Codes and Standards" that has been designed by IIBF in association with BCSBI. IIBF has played
नवंबर 01, 2010
G-20 After the Crisis: An Indian Perspective
Introduction I would like to thank the organizers of this event for inviting me to deliver this keynote address. While the title of the session is "What India expects from the G-20", I think it would be extremely presumptuous of me to speak on behalf of the country as a whole. I have, of course, been involved with the G-20 process as the Central Bank deputy and, in that capacity have had the opportunity to contribute to the shaping of the Indian position on various is
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction I would like to thank the organizers of this event for inviting me to deliver this keynote address. While the title of the session is "What India expects from the G-20", I think it would be extremely presumptuous of me to speak on behalf of the country as a whole. I have, of course, been involved with the G-20 process as the Central Bank deputy and, in that capacity have had the opportunity to contribute to the shaping of the Indian position on various is
अक्‍तूबर 27, 2010
Frontier Issues on the Global Agenda Need for Global Cooperation
First of all, my thanks to the organizers of this conference - ICRIER, the German Development Institute (DIE) and InWent - for inviting me to inaugurate this conference on: “Policies for Growth and Financial Stability Beyond the Crisis - the Scope for Global Cooperation”. Having just returned from a meeting of G-20 Finance Ministers and Central Bank Governors in Korea over this weekend, I am deeply sensitive to the value of generating a wider debate on issues that the
Dr. D. Subbarao, Governor, Reserve Bank of India
First of all, my thanks to the organizers of this conference - ICRIER, the German Development Institute (DIE) and InWent - for inviting me to inaugurate this conference on: “Policies for Growth and Financial Stability Beyond the Crisis - the Scope for Global Cooperation”. Having just returned from a meeting of G-20 Finance Ministers and Central Bank Governors in Korea over this weekend, I am deeply sensitive to the value of generating a wider debate on issues that the
अक्‍तूबर 26, 2010
The Price of Protein
Introduction It is a great pleasure for me to be speaking at this seminar to celebrate the 75th birthday of Prof. Kirit Parikh. During the time that I spent at IGIDR under his leadership, I had the opportunity to work on a number of issues, on all of which I received enormous support and encouragement from him, which has continued even after first I and then he moved on to other institutions. My years at IGIDR provided me firm foundations in individual and collective
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction It is a great pleasure for me to be speaking at this seminar to celebrate the 75th birthday of Prof. Kirit Parikh. During the time that I spent at IGIDR under his leadership, I had the opportunity to work on a number of issues, on all of which I received enormous support and encouragement from him, which has continued even after first I and then he moved on to other institutions. My years at IGIDR provided me firm foundations in individual and collective
अक्‍तूबर 10, 2010
Emerging Market Economies Leading Global Growth
The three issues laid out in today’s agenda are particularly relevant at this juncture and how we answer them in the months ahead will determine how the world regains and then sustains economic growth and financial stability. Let me begin with the first issue : How can emerging market economies (EMEs) best contribute towards securing global economic prosperity? The most important way in which EMEs can contribute to global economic prosperity is by doing more of what t
Dr. D. Subbarao, Governor, Reserve Bank of India
The three issues laid out in today’s agenda are particularly relevant at this juncture and how we answer them in the months ahead will determine how the world regains and then sustains economic growth and financial stability. Let me begin with the first issue : How can emerging market economies (EMEs) best contribute towards securing global economic prosperity? The most important way in which EMEs can contribute to global economic prosperity is by doing more of what t
अक्‍तूबर 05, 2010
Managing the Growth-Inflation Balance in India : Current Considerations and Long-term Perspectives
Introduction I would like to thank the Private Equity International India Forum for inviting me to deliver this Keynote Address. I believe that channels of finance like venture capital will play an increasingly significant role in India. Sustaining the current growth momentum over a long period of time will clearly depend heavily on the ability of new business ideas to first, find start-up funding and then, grow to scales at which traditional funding sources can be ac
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction I would like to thank the Private Equity International India Forum for inviting me to deliver this Keynote Address. I believe that channels of finance like venture capital will play an increasingly significant role in India. Sustaining the current growth momentum over a long period of time will clearly depend heavily on the ability of new business ideas to first, find start-up funding and then, grow to scales at which traditional funding sources can be ac
अक्‍तूबर 01, 2010
भारत में मुद्रास्फीति संबंधी परिप्रेक्ष्य * दीपक मोहंती
I thank the Bankers Club, Chennai and Shri T.M.Bhasin, Chairman & Managing Director, Indian Bank for providing me this opportunity to speak before you. As you know, the Reserve Bank released its first Mid-Quarter Review of Monetary Policy for 2010-11 on September 16, 2010 raising policy interest rates for the fifth time since March 2010. The Reserve Bank is concerned over the unacceptably high inflation rate. In the meanwhile, the Government has also released the
श्री दीपक मोहंती, कार्यपालक निदेशक, रिज़र्व बैंक ऑफ इंडिया
I thank the Bankers Club, Chennai and Shri T.M.Bhasin, Chairman & Managing Director, Indian Bank for providing me this opportunity to speak before you. As you know, the Reserve Bank released its first Mid-Quarter Review of Monetary Policy for 2010-11 on September 16, 2010 raising policy interest rates for the fifth time since March 2010. The Reserve Bank is concerned over the unacceptably high inflation rate. In the meanwhile, the Government has also released the
सितंबर 20, 2010
वित्तीय क्षेत्र की रणनीति के परिप्रेक्ष्य * सुबीर गोकर्ण
I welcome this initiative by the Asia-Europe Business Forum to organize a discussion on opportunities and challenges for financial services in our respective regions. Virtually all significant debate that is taking place today on financial sector regulation and development, whether in advanced or emerging economies, is placed in the context of the crisis and the role that the financial sector played in it. However, there is a significant asymmetry in that debate, as i
डॉ. सुबीर गोकर्ण, उप गवर्नर, भारतीय रिज़र्व बैंक
I welcome this initiative by the Asia-Europe Business Forum to organize a discussion on opportunities and challenges for financial services in our respective regions. Virtually all significant debate that is taking place today on financial sector regulation and development, whether in advanced or emerging economies, is placed in the context of the crisis and the role that the financial sector played in it. However, there is a significant asymmetry in that debate, as i
सितंबर 15, 2010
विनियमन का समष्टि विवेकपूर्ण दुष्टिकोण- संभावनाए तथा मुद्दे * श्यामला गोपीनाथ
1. Explicit pursuit of macroeconomic and financial stability can be said to be the single most significant take away from the recent crisis. More than the specifics, the importance of this mandate lies in decisively effecting a course correction with regard to the approach and philosophy for regulation of the financial system. It is being acknowledged that a macro prudential perspective is critical in designing and pursuing micro prudential regulation of institutions
श्रीमती श्यामला गोपीनाथ, उप गवर्नर, भारतीय रिज़र्व बैंक
1. Explicit pursuit of macroeconomic and financial stability can be said to be the single most significant take away from the recent crisis. More than the specifics, the importance of this mandate lies in decisively effecting a course correction with regard to the approach and philosophy for regulation of the financial system. It is being acknowledged that a macro prudential perspective is critical in designing and pursuing micro prudential regulation of institutions
सितंबर 09, 2010
अगले दशक में बैंकिंग लेन-देन: तीव्रतर , और अधिक सस्ते तथा आसान * के. सी. चक्रवर्ती
Distinguished guests, ladies and gentlemen. It is a pleasure and privilege to be here today at this ninth Annual Conference on “Global Banking: Paradigm shift” jointly organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian Banks’ Association (IBA). The theme of this year’s Conference is “Banking 2020: Making the Decade’s Promise Come True”. Let me begin by asking to whom are we making this promise. We are making this promise to the cust
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Distinguished guests, ladies and gentlemen. It is a pleasure and privilege to be here today at this ninth Annual Conference on “Global Banking: Paradigm shift” jointly organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian Banks’ Association (IBA). The theme of this year’s Conference is “Banking 2020: Making the Decade’s Promise Come True”. Let me begin by asking to whom are we making this promise. We are making this promise to the cust
सितंबर 09, 2010
वैश्विक प्रतिस्पधर्I के लिये भारतीय बैंकों की तैयारी: रणनीतीक और नीतिगत परिप्रेक्ष्य * सुबीर गोकर्ण
Introduction It would be no exaggeration to say that the financial world is a vastly different place after the crisis. Many propositions that might have been taken for granted until it precipitated are being questioned in its wake. One set of these surely has to be about the things that go into making banks globally competitive. The increasing visibility and dominance of multinational financial corporations in the years before the crisis contributed to the perception
डॉ. सुबीर गोकर्ण, उप गवर्नर, भारतीय रिज़र्व बैंक
Introduction It would be no exaggeration to say that the financial world is a vastly different place after the crisis. Many propositions that might have been taken for granted until it precipitated are being questioned in its wake. One set of these surely has to be about the things that go into making banks globally competitive. The increasing visibility and dominance of multinational financial corporations in the years before the crisis contributed to the perception
सितंबर 08, 2010
विनियमन में नये प्रतिमान बनाना * उषा थोरात
The global financial crisis was predominantly a first world phenomenon. The fall out in the emerging market economies (EMEs) was mostly through contagion. The level of financial sector development, complexity of financial markets, extent of deregulation and global integration, the degree of leverage of households and financial intermediaries, the nature of business model and quality of supervision determined the impact of the crisis on any institution or jurisdiction.
श्रीमती उषा थोराट, उप गवर्नर, भारतीय रिज़र्व बैंक
The global financial crisis was predominantly a first world phenomenon. The fall out in the emerging market economies (EMEs) was mostly through contagion. The level of financial sector development, complexity of financial markets, extent of deregulation and global integration, the degree of leverage of households and financial intermediaries, the nature of business model and quality of supervision determined the impact of the crisis on any institution or jurisdiction.
सितंबर 07, 2010
संकट के बाद बैंकिंग विनियमन और पर्यवेक्षण में सुधार- वैश्विक स्तर पर सोचें, स्थानीय जरुरतों के अनुसार कार्य करें * दुव्वुरी सुब्बाराव
Thank you very much for inviting me to inaugurate this FICCI-IBA Conference on “Global Banking: Paradigm Shift”. This Conference is a flagship event in the annual banking calendar, and I attach a lot of value to this opportunity of speaking to and interacting with the banking community. 2. When I spoke at this forum last year, I had touched on some of the early lessons of the global crisis and how they were shaping the debate on reforms to banking regulation and super
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
Thank you very much for inviting me to inaugurate this FICCI-IBA Conference on “Global Banking: Paradigm Shift”. This Conference is a flagship event in the annual banking calendar, and I attach a lot of value to this opportunity of speaking to and interacting with the banking community. 2. When I spoke at this forum last year, I had touched on some of the early lessons of the global crisis and how they were shaping the debate on reforms to banking regulation and super
सितंबर 03, 2010
बैंकिंग में प्रौद्योगिकी: आर्थिक वृद्धि का एक साधन * के. सी. चक्रवर्ती
Mr Bodhisatva Ganguly, Resident Editor, Economic Times, distinguished guests, ladies and gentlemen. At the very outset, I want to say that it is a pleasure and a privilege to be amidst this august gathering and to be a part of the Banking Technology Conclave 2010. I congratulate the Economic Times for organizing this Technology Conclave, the fourth in the series, on the theme “Leveraging technology for fuelling growth and development”. The contribution of technology t
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Mr Bodhisatva Ganguly, Resident Editor, Economic Times, distinguished guests, ladies and gentlemen. At the very outset, I want to say that it is a pleasure and a privilege to be amidst this august gathering and to be a part of the Banking Technology Conclave 2010. I congratulate the Economic Times for organizing this Technology Conclave, the fourth in the series, on the theme “Leveraging technology for fuelling growth and development”. The contribution of technology t
अगस्त 27, 2010
आर्थिक संकट और अर्थव्यवस्था में संकट-कुछ झलकियाँ *-दुव्वुरी सुब्बाराव
M. Ct. M. Chidambaram Thank you for this kind invitation. It is a pleasure and privilege to deliver the M. Ct. M. Chidambaram Chettyar Memorial Lecture honouring one of the most eminent entrepreneurs and financiers of the early twentieth century. 2. The Chettyar community of Tamil Nadu has made impressive contributions to our national life. The stereotype view is that the Chettyar community is conservative. But Shri M. Ct. M. Chidambaram broke that stereotype. His is
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
M. Ct. M. Chidambaram Thank you for this kind invitation. It is a pleasure and privilege to deliver the M. Ct. M. Chidambaram Chettyar Memorial Lecture honouring one of the most eminent entrepreneurs and financiers of the early twentieth century. 2. The Chettyar community of Tamil Nadu has made impressive contributions to our national life. The stereotype view is that the Chettyar community is conservative. But Shri M. Ct. M. Chidambaram broke that stereotype. His is
अगस्त 12, 2010
Managing Inflation in the Post-Crisis Environment
The Indian economy weathered the global crisis of 2008-09 quite well. Even as much of the developed world is still quite some distance from its pre-crisis growth rate, several emerging market economies (EMEs) have made up the lost ground relatively quickly. As indicated in Chart 1, India saw its growth rate decline from 9.2 per cent in 2007-08 to a trough of 6.7 per cent in 2008-09. There was a modest recovery in 2009-10 to 7.4 per cent, with the second half of the ye
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
The Indian economy weathered the global crisis of 2008-09 quite well. Even as much of the developed world is still quite some distance from its pre-crisis growth rate, several emerging market economies (EMEs) have made up the lost ground relatively quickly. As indicated in Chart 1, India saw its growth rate decline from 9.2 per cent in 2007-08 to a trough of 6.7 per cent in 2008-09. There was a modest recovery in 2009-10 to 7.4 per cent, with the second half of the ye
अगस्त 10, 2010
भारत में प्रतिभूतिकरण बाजार- संकटोत्तर परिप्रेक्ष्य*-श्यामला गोपीनाथ
1. It is my pleasure to be delivering the inaugural address at this Securitisation Summit. I am thankful to the NSIM, particularly Mr. Sethu whose persistent efforts brought me here today. The development of a robust securitisation market in India, along with a broader corporate bond market, though universally acknowledged as a desired objective is proving a challenge in reality. In my address today I wish to touch upon some of the issues engaging the policy deliberat
श्रीमती श्यामला गोपीनाथ, उप गवर्नर, भारतीय रिज़र्व बैंक
1. It is my pleasure to be delivering the inaugural address at this Securitisation Summit. I am thankful to the NSIM, particularly Mr. Sethu whose persistent efforts brought me here today. The development of a robust securitisation market in India, along with a broader corporate bond market, though universally acknowledged as a desired objective is proving a challenge in reality. In my address today I wish to touch upon some of the issues engaging the policy deliberat
अगस्त 05, 2010
वित्तीय संकट - कुछ पुराने प्रश्न और संभवत: कुछ नए जवाब* - दुव्वुरी सुब्बाराव
It would be a privilege for anyone to deliver this lecture to honour the memory of Sir Chintaman D. Deshmukh. The privilege is particularly special for a serving Governor of the Reserve Bank of India. Everyday, as I go to work, I bask in the glory of serving a public institution that is held in such high esteem. 2. I am deeply conscious that this high esteem owes a lot to the competence and professionalism of the Reserve Bank’s staff, its institutional values and cult
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
It would be a privilege for anyone to deliver this lecture to honour the memory of Sir Chintaman D. Deshmukh. The privilege is particularly special for a serving Governor of the Reserve Bank of India. Everyday, as I go to work, I bask in the glory of serving a public institution that is held in such high esteem. 2. I am deeply conscious that this high esteem owes a lot to the competence and professionalism of the Reserve Bank’s staff, its institutional values and cult
जुलाई 28, 2010
Over-the-counter derivative markets in India issues and perspectives - Article by Smt Shyamala Gopinath, Deputy Governor, RBI, Published in July 2010 Issue of Financial Stability Review, Banque de France.
The present article tries to put in perspective the boundary conditions, imposed by the macroeconomic constraints, which have guided the evolution of over-the-counter (OTC) markets in India and underlines the point that the process of transiting from a predominantly OTC based model to an exchange-traded model needs to follow a calibrated path. Through this transition period, the overall regulatory approach towards OTC derivative markets is as important as addressing t
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
The present article tries to put in perspective the boundary conditions, imposed by the macroeconomic constraints, which have guided the evolution of over-the-counter (OTC) markets in India and underlines the point that the process of transiting from a predominantly OTC based model to an exchange-traded model needs to follow a calibrated path. Through this transition period, the overall regulatory approach towards OTC derivative markets is as important as addressing t
जुलाई 02, 2010
सीबीएस के बाद बैंकिंग प्रौद्योगिकी मुद्दे और अगला रास्ता - के. सी. चक्रवर्ती
Mr Sambamurthy, Director IDRBT, Shri J P Dua, CMD, Allahabad Bank, Mr Bhaskar Sen, CMD , United Bank of India, and other distinguished guests, ladies and gentlemen. I am indeed very happy to be in your midst today for the IT Conclave being organised by IDRBT and share my thoughts with you on banking technology beyond Core Banking Solution (CBS). 2. Let me begin by asking, what is the purpose of technology? All of us would agree that technology has no longer remained j
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Mr Sambamurthy, Director IDRBT, Shri J P Dua, CMD, Allahabad Bank, Mr Bhaskar Sen, CMD , United Bank of India, and other distinguished guests, ladies and gentlemen. I am indeed very happy to be in your midst today for the IT Conclave being organised by IDRBT and share my thoughts with you on banking technology beyond Core Banking Solution (CBS). 2. Let me begin by asking, what is the purpose of technology? All of us would agree that technology has no longer remained j
जुलाई 02, 2010
Central Banks must distill Lessons from the Global Crisis and make Concrete Reforms
Central banks have been at the heart of the global financial crisis. They have been blamed for policies and actions that got the world into the crisis; they have been praised for leading the world out of it. Both are fair assessments. Central banks have been a part of the problem and a part of the solution. As the crisis unwinds and recovery takes hold, central banks face a number of issues, of which I will address five. To view the entire Interview please click here.
Dr. D. Subbarao, Governor, Reserve Bank of India
Central banks have been at the heart of the global financial crisis. They have been blamed for policies and actions that got the world into the crisis; they have been praised for leading the world out of it. Both are fair assessments. Central banks have been a part of the problem and a part of the solution. As the crisis unwinds and recovery takes hold, central banks face a number of issues, of which I will address five. To view the entire Interview please click here.
जून 18, 2010
वित्तीय समावेशन संबंधी अभियान को मिशन बनाकर वित्तीय गहराई लाना* के. सी. चक्रवर्ती
Dr C Rangarajan, Hon’ble Chairman, Economic Advisory Council to the Prime Minister, Mr Hari Sankaran, Managing Director and CEO, IL& FS, Shri S. S. Tarapore, Distinguished Fellow, Skoch Development Foundation, Shri J Sriram, CEO- Mobile Commerce Venture, Bharti Airtel Ltd, and of course the main organiser of this function Mr Sameer Kochhar, distinguished guests, ladies and gentlemen. I have come here to say a few words about financial inclusion which is closely re
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Dr C Rangarajan, Hon’ble Chairman, Economic Advisory Council to the Prime Minister, Mr Hari Sankaran, Managing Director and CEO, IL& FS, Shri S. S. Tarapore, Distinguished Fellow, Skoch Development Foundation, Shri J Sriram, CEO- Mobile Commerce Venture, Bharti Airtel Ltd, and of course the main organiser of this function Mr Sameer Kochhar, distinguished guests, ladies and gentlemen. I have come here to say a few words about financial inclusion which is closely re
जून 18, 2010
बैंक सुविधा-रहित क्षेत्रों में बैंकिंग सुविधा प्रदान करने के लिए प्रौद्योगिकी का उपयोग* दुव्वुरी सुब्बाराव
It is always a delight to be here in this wonderful city of Hyderabad. The location of IDRBT in Hyderabad is not an accident; it is a reflection of the growing reputation of Hyderabad as a premiere location for IT industry. Hailing as I do from this state, I know that we came from behind; twenty five years ago, there were several other cities ahead of Hyderabad on the technology scene; today, we are among the front runners. This remarkable reinvention of Hyderabad as
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
It is always a delight to be here in this wonderful city of Hyderabad. The location of IDRBT in Hyderabad is not an accident; it is a reflection of the growing reputation of Hyderabad as a premiere location for IT industry. Hailing as I do from this state, I know that we came from behind; twenty five years ago, there were several other cities ahead of Hyderabad on the technology scene; today, we are among the front runners. This remarkable reinvention of Hyderabad as
जून 14, 2010
भारत में उदार दरासें का परिदृश्य* दीपक मोहंती
Shri Dua, Shri Sen and friends. I thank the Bankers’ Club, Kolkata and Shri J.P. Dua, Chairman, Allahabad Bank for providing me the opportunity to speak to you this evening. As you know, banks will be switching over to a ‘base rate’ system of loan pricing from 1st July 2010. Besides the announcement of base rate, what is of greater significance is that it brings to fruition complete deregulation of rupee lending rates of banks, a process that began two decades ago. Th
श्री दीपक मोहंती, कार्यपालक निदेशक, रिज़र्व बैंक ऑफ इंडिया
Shri Dua, Shri Sen and friends. I thank the Bankers’ Club, Kolkata and Shri J.P. Dua, Chairman, Allahabad Bank for providing me the opportunity to speak to you this evening. As you know, banks will be switching over to a ‘base rate’ system of loan pricing from 1st July 2010. Besides the announcement of base rate, what is of greater significance is that it brings to fruition complete deregulation of rupee lending rates of banks, a process that began two decades ago. Th
जून 07, 2010
वित्तीय विनियमन तथा वित्तीय समावेशन-साथ में अथवा प्रति-प्रयोजनों के लिए कार्य करना* उषा थोरात
The case for financial inclusion is not based on the principle of equity alone – access to affordable banking services is required for inclusive growth with stability. Achieving financial inclusion in a country like India with a large and diverse population with significant segments in rural and unorganised sectors requires a high level of penetration by the formal financial system. Even in areas that are well covered by banks, there are sections of society excluded f
श्रीमती उषा थोराट, उप गवर्नर, भारतीय रिज़र्व बैंक
The case for financial inclusion is not based on the principle of equity alone – access to affordable banking services is required for inclusive growth with stability. Achieving financial inclusion in a country like India with a large and diverse population with significant segments in rural and unorganised sectors requires a high level of penetration by the formal financial system. Even in areas that are well covered by banks, there are sections of society excluded f
जून 01, 2010
रिज़र्व बैंक अभिलेखागार-भावी दिशा दुव्वुरी सुब्बाराव
Photograph I am delighted to be here today for the inauguration of the RBI Archives Museum. You will all recall that we have just concluded the Platinum Jubilee celebrations of the Reserve Bank. The events and initiatives that we had taken up as part of the celebrations centred around introspection on the evolution of the Reserve Bank, reflection on its current and future challenges, and on how the Reserve Bank can fulfill its objectives even better so that it continu
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
Photograph I am delighted to be here today for the inauguration of the RBI Archives Museum. You will all recall that we have just concluded the Platinum Jubilee celebrations of the Reserve Bank. The events and initiatives that we had taken up as part of the celebrations centred around introspection on the evolution of the Reserve Bank, reflection on its current and future challenges, and on how the Reserve Bank can fulfill its objectives even better so that it continu
मई 21, 2010
सूक्ष्म, लघु और मध्यम उद्यमों को बैंक ऋण: वर्तमान स्थिति तथा भावी दिशा के. सी. चक्रवर्ती
Dr P M Mathew, Director, ISED, Dr K N Kabra, Chairman, ISED, Shri T O Sooraj, Director, Industries and Commerce, Government of Kerala, Dr Yerram Raju, senior fellow, ISED, senior bankers, MSME entrepreneurs, other distinguished guests, ladies and gentlemen. I am indeed very happy to be in your midst today for the release of the 13th issue of the India, Micro Small and Medium Enterprises Report Series of your Institute. The MSMEs, given their limitations and constraint
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Dr P M Mathew, Director, ISED, Dr K N Kabra, Chairman, ISED, Shri T O Sooraj, Director, Industries and Commerce, Government of Kerala, Dr Yerram Raju, senior fellow, ISED, senior bankers, MSME entrepreneurs, other distinguished guests, ladies and gentlemen. I am indeed very happy to be in your midst today for the release of the 13th issue of the India, Micro Small and Medium Enterprises Report Series of your Institute. The MSMEs, given their limitations and constraint
मई 12, 2010
पूँजी प्रवाहों में अस्थिरता:कुछ परिप्रेक्ष्य - दुव्वुरी सुब्बाराव
As the crisis is ebbing, capital inflows into emerging market economies (EMEs) have resumed - a consequence of a global system awash with liquidity, the assurance of low interest rates ruling in advanced economies over ‘an extended period’ and the prospects of robust growth in EMEs. According to the IMF, net private financial flows to emerging and developing economies increased from US$ 254 billion in 2006 to US$ 689 billion in 2007 and then declined, at the height of
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
As the crisis is ebbing, capital inflows into emerging market economies (EMEs) have resumed - a consequence of a global system awash with liquidity, the assurance of low interest rates ruling in advanced economies over ‘an extended period’ and the prospects of robust growth in EMEs. According to the IMF, net private financial flows to emerging and developing economies increased from US$ 254 billion in 2006 to US$ 689 billion in 2007 and then declined, at the height of
अप्रैल 30, 2010
मुख्य व्याख्यान* के. सी. चक्रवती
Shri P. K. Basu, Union Agriculture and Cooperation Secretary, Dr. Chandrapal Singh Yadav, President, NCUI & Chairman, KRIBHCO, Dr Bijender Singh, Chairman, NAFSCOB, Shri B. Subrahmanyam, MD, NAFSCOB, Smt Roshan R. Warjri, Vice-Chairperson, NAFSCOB, distinguished speakers and panelists, distinguished guests, ladies and gentlemen. Introduction 1.  At the outset, I congratulate the National Federation of State Co-operative Banks for organizing this review meet o
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Shri P. K. Basu, Union Agriculture and Cooperation Secretary, Dr. Chandrapal Singh Yadav, President, NCUI & Chairman, KRIBHCO, Dr Bijender Singh, Chairman, NAFSCOB, Shri B. Subrahmanyam, MD, NAFSCOB, Smt Roshan R. Warjri, Vice-Chairperson, NAFSCOB, distinguished speakers and panelists, distinguished guests, ladies and gentlemen. Introduction 1.  At the outset, I congratulate the National Federation of State Co-operative Banks for organizing this review meet o
अप्रैल 27, 2010
भारत और वैश्विक वित्तीय संकट : पुन : उबरने से विकास की ओर* दुव्वुरी सुब्बाराव
India clocked average growth of 9 per cent per annum in the five years to 2007/08. That growth momentum was interrupted by the financial crisis which impacted India too, more than we had originally thought but less than it did most other countries. Despite falling below 6 per cent for one quarter, the growth for the full year 2008/09 was a resilient 6.7 per cent. Current estimates are that the economy had grown between 7.2 and 7.5 per cent for the just ended fiscal ye
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
India clocked average growth of 9 per cent per annum in the five years to 2007/08. That growth momentum was interrupted by the financial crisis which impacted India too, more than we had originally thought but less than it did most other countries. Despite falling below 6 per cent for one quarter, the growth for the full year 2008/09 was a resilient 6.7 per cent. Current estimates are that the economy had grown between 7.2 and 7.5 per cent for the just ended fiscal ye
अप्रैल 26, 2010
भारतीय बैको मे आईंटी सुरक्षा के नये प्रतिमान* के. सी. चक्रवती
Shri M. V. Nair, Chairman, IBA and CMD, Union Bank of India, Shri B. Sambamurthy, Director, IDRBT, Shri Shyamal Ghosh, Chairman, DSCI, Dr. K. Ramakrishnan, CEO, IBA, distinguished speakers and panelists, IT and IT Security professionals, distinguished guests, ladies and gentlemen. 2. Information is at the heart of today’s business, and the all-pervasive impact of Information Technology in harnessing, collating and processing huge volumes of information is definitive.
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Shri M. V. Nair, Chairman, IBA and CMD, Union Bank of India, Shri B. Sambamurthy, Director, IDRBT, Shri Shyamal Ghosh, Chairman, DSCI, Dr. K. Ramakrishnan, CEO, IBA, distinguished speakers and panelists, IT and IT Security professionals, distinguished guests, ladies and gentlemen. 2. Information is at the heart of today’s business, and the all-pervasive impact of Information Technology in harnessing, collating and processing huge volumes of information is definitive.
अप्रैल 25, 2010
अंतरराष्ट्रिय मौद्रिक और वित्तीय समिति (आईंएमएफसी) में वक्तव्य* दुव्वुरी सुब्बाराव
Statement by Mr. Duvvuri Subbarao, Governor, Reserve Bank of India at IMFC Leader of the Indian Delegation to the International Monetary and Financial Committee Washington D.C, April 24, 2010 Mr. Chairman: Confounding our worst fears, the turn around in the global economy has been much faster than we had anticipated as recently as only a few months ago when we met in Istanbul. The global economy has experienced three quarters of positive growth following the sharp dec
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
Statement by Mr. Duvvuri Subbarao, Governor, Reserve Bank of India at IMFC Leader of the Indian Delegation to the International Monetary and Financial Committee Washington D.C, April 24, 2010 Mr. Chairman: Confounding our worst fears, the turn around in the global economy has been much faster than we had anticipated as recently as only a few months ago when we met in Istanbul. The global economy has experienced three quarters of positive growth following the sharp dec
अप्रैल 15, 2010
परिवेश - पद्धतियों और जैव - वैविध्य (टीईंईंवी) के अर्थंशास्त्र पर कार्यंशाला* उषा थोरात
Ladies and Gentleman, Herman Daly, a leading ecological economist, who received the 1996 Right Livelihood Award for ‘defining a path of ecological economics that integrates the key elements of ethics, quality of life, environment and community’, said: “There is something fundamentally wrong with treating the earth as if it were a business in liquidation." 2. I am extremely happy to inaugurate this workshop on The Economics of Ecosystems and Biodiversity (TEEB) organis
श्रीमती उषा थोराट, उप गवर्नर, भारतीय रिज़र्व बैंक
Ladies and Gentleman, Herman Daly, a leading ecological economist, who received the 1996 Right Livelihood Award for ‘defining a path of ecological economics that integrates the key elements of ethics, quality of life, environment and community’, said: “There is something fundamentally wrong with treating the earth as if it were a business in liquidation." 2. I am extremely happy to inaugurate this workshop on The Economics of Ecosystems and Biodiversity (TEEB) organis
अप्रैल 06, 2010
V K Sharma: Launch of the Financial Literacy Project in Karnataka
1. On this momentous occasion of the launching of the project on Financial Literacy in Karnataka, it is my honour and privilege to extend a very warm and hearty welcome to Respected Dr Subbarao, Governor, Reserve Bank of India. I also extend a hearty welcome to Shri S. V. Ranganath, Chief Secretary, Govt. of Karnataka, Smt. Shyamala Gopinath, Smt. Usha Thorat, Dr. K. C. Chakrabarty and Dr. Subir Gokarn, Deputy Governors, RBI, Principal Secretaries of the Govt. of Karn
Shri V.K. Sharma, Executive Director, Reserve Bank of India
1. On this momentous occasion of the launching of the project on Financial Literacy in Karnataka, it is my honour and privilege to extend a very warm and hearty welcome to Respected Dr Subbarao, Governor, Reserve Bank of India. I also extend a hearty welcome to Shri S. V. Ranganath, Chief Secretary, Govt. of Karnataka, Smt. Shyamala Gopinath, Smt. Usha Thorat, Dr. K. C. Chakrabarty and Dr. Subir Gokarn, Deputy Governors, RBI, Principal Secretaries of the Govt. of Karn
अप्रैल 02, 2010
इंस्टीट्यूट आँफ बैकिग पर्संनल सेलेक्शन (आइबीपीएस) का रजत जयंती समारोह* के. सी. चक्रवती
Shri M. Balachandran, Director, IBPS, Shri Alok K. Mishra, CMD, Bank of India, Shri D. P. Sharda and Shri R. K. Chaudhury, ex-Directors , IBPS, Executive Directors of banks, distinguished guests, ladies and gentlemen; I am indeed very happy to be in your midst today for the Silver Jubilee function of IBPS. April 1 has special significance for both RBI and IBPS. It is the day RBI was established 75 years ago and it is also the foundation day for IBPS. Yesterday, we cel
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Shri M. Balachandran, Director, IBPS, Shri Alok K. Mishra, CMD, Bank of India, Shri D. P. Sharda and Shri R. K. Chaudhury, ex-Directors , IBPS, Executive Directors of banks, distinguished guests, ladies and gentlemen; I am indeed very happy to be in your midst today for the Silver Jubilee function of IBPS. April 1 has special significance for both RBI and IBPS. It is the day RBI was established 75 years ago and it is also the foundation day for IBPS. Yesterday, we cel
अप्रैल 01, 2010
भारतीय रिजर्वं बैक की प्लैटिनम जुबली का भव्य समारोह मे माननीय वित्तमंत्री के विचार*
Hon’ble Prime Minister Governor, Maharashtra Chief Minister, Maharashtra Governor, Reserve Bank of India Officials of Reserve Bank of India Distinguished guests Ladies and Gentlemen I am happy to be present here today and join in celebrating the 75th anniversary of one of India’s most renowned and respectable institutions. The Reserve Bank of India today enjoys an enviable position and is well respected in the comity of Central Banks across the globe. The credit for t
श्री प्रणब मुखर्जी, माननीय वित्त मंत्री
Hon’ble Prime Minister Governor, Maharashtra Chief Minister, Maharashtra Governor, Reserve Bank of India Officials of Reserve Bank of India Distinguished guests Ladies and Gentlemen I am happy to be present here today and join in celebrating the 75th anniversary of one of India’s most renowned and respectable institutions. The Reserve Bank of India today enjoys an enviable position and is well respected in the comity of Central Banks across the globe. The credit for t
अप्रैल 01, 2010
लोग, नौकरीयां और उत्पादकता : समावेशी वृद्धि की“सरल” डायनामिक्स* - सुबीर गोकर्ण
Introduction Let me begin by thanking the Confederation of Indian Industry (CII) for inviting me to speak at its Annual Regional Meeting and National Conference on “Achieving Double-digit Growth”. The theme of the conference is, unquestionably, an issue of the utmost urgency for Indian policymakers. Although, in my current role, I am more focused on issues of macroeconomic stability and short-term growth and inflation prospects, today's theme is one on which I wrote a
डॉ. सुबीर गोकर्ण, उप गवर्नर, भारतीय रिज़र्व बैंक
Introduction Let me begin by thanking the Confederation of Indian Industry (CII) for inviting me to speak at its Annual Regional Meeting and National Conference on “Achieving Double-digit Growth”. The theme of the conference is, unquestionably, an issue of the utmost urgency for Indian policymakers. Although, in my current role, I am more focused on issues of macroeconomic stability and short-term growth and inflation prospects, today's theme is one on which I wrote a
अप्रैल 01, 2010
आगे-पीछे की सुध लेना* दुव्वुरी सुब्बाराव
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
डॉ. सुबीर गोकर्ण, उप गवर्नर, भारतीय रिज़र्व बैंक
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
अप्रैल 01, 2010
भारतीय रिजर्वं बैक की प्लैटिनम जुबली का भव्य समारोह मे माननीय प्रधानमंत्री डाँ.मनमोहनसिंह का संबोधन*
“It is indeed a great pleasure to be here in Mumbai for the Platinum Jubilee celebrations of the Reserve Bank of India. For me, this is also a very special moment of nostalgia. I spent some very memorable years in this institution as its Governor. My wife and I cherish the memories of many new enduring friendships that we made during those memorable days. I also recall with deep appreciation the role played by the Reserve Bank in helping the Government of India in the
डॉ. मनमोहन सिंह, माननीय प्रधान मंत्री
“It is indeed a great pleasure to be here in Mumbai for the Platinum Jubilee celebrations of the Reserve Bank of India. For me, this is also a very special moment of nostalgia. I spent some very memorable years in this institution as its Governor. My wife and I cherish the memories of many new enduring friendships that we made during those memorable days. I also recall with deep appreciation the role played by the Reserve Bank in helping the Government of India in the
मार्च 22, 2010
दुव्वुरी सुब्बाराव द्वारा उद्घाटन भाषण : वित्तीय साक्षरता प्रदान करने पर आरबीआइ-ओइसीडी कार्यशाला
Respected Chief Secretary, Government of Karnataka Shri S.V. Ranganath and friends, I am delighted to be present here at this function organized jointly by the Government of Karnataka and the Reserve Bank of India. Over the last one year we have done a number of functions across the country as part of RBIs platinum jubilee celebrations. This function this afternoon here in Bangalore is easily one of the most exhilarating functions. It was particularly heart warming to
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
Respected Chief Secretary, Government of Karnataka Shri S.V. Ranganath and friends, I am delighted to be present here at this function organized jointly by the Government of Karnataka and the Reserve Bank of India. Over the last one year we have done a number of functions across the country as part of RBIs platinum jubilee celebrations. This function this afternoon here in Bangalore is easily one of the most exhilarating functions. It was particularly heart warming to
मार्च 22, 2010
दुव्वुरी सुब्बाराव द्वारा मुद्रा प्रबंध में कुछ मुद्दे
It is my pleasure and privilege to participate in this function for laying the foundation stone for the Bank Note Paper Mill. A special and hearty welcome to the Hon’ble Finance Minister, Shri Pranab Mukherjee, but for whose active support, the launch of this vital and prestigious project would not have been possible. 2. I want to use this opportunity to speak on this occasion to highlight the significance of paper currency, touch on the history of production of curre
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
It is my pleasure and privilege to participate in this function for laying the foundation stone for the Bank Note Paper Mill. A special and hearty welcome to the Hon’ble Finance Minister, Shri Pranab Mukherjee, but for whose active support, the launch of this vital and prestigious project would not have been possible. 2. I want to use this opportunity to speak on this occasion to highlight the significance of paper currency, touch on the history of production of curre
मार्च 22, 2010
माननीय वित्त मंत्री द्वारा भाषण : मैसूर में सिक्यूरिटी पेपर मिल का स्थापना समारोह
Dr. Subbarao, Governor, RBI; Mrs Thorat, Deputy Governor, RBI; Members of the Board of Bharatiya Reserve Bank Note Mudran Pvt. Ltd. (BRBNMPL) and the Security Printing and Minting Corporation of India Ltd. (SPMCIL); Friends, ladies and gentlemen 2. It gives me immense pleasure to be here today, in this historic city of Mysore, on the occasion of laying the foundation stone for the project for establishing a state-of-the art currency notepaper production facility. I co
श्री प्रणब मुखर्जी, माननीय वित्त मंत्री
Dr. Subbarao, Governor, RBI; Mrs Thorat, Deputy Governor, RBI; Members of the Board of Bharatiya Reserve Bank Note Mudran Pvt. Ltd. (BRBNMPL) and the Security Printing and Minting Corporation of India Ltd. (SPMCIL); Friends, ladies and gentlemen 2. It gives me immense pleasure to be here today, in this historic city of Mysore, on the occasion of laying the foundation stone for the project for establishing a state-of-the art currency notepaper production facility. I co
मार्च 22, 2010
के.सी.चक्रवर्ती द्वारा स्वागत भाषण : वित्तीय साक्षरता प्रदान करने पर आरबीआइ-ओइसीडी कार्यशाला
Mr. Pranab Mukherjee, Hon'ble Finance Minister, Government of India, Dr. D Subba Rao, Governor, Reserve Bank of India, Mr. Richard A. Boucher, OECD Deputy Secretary General, Mr. Andre Laboul, Head, OECD Financial Affairs Division and Chair, International Network on Financial Education (INFE), Ms. Flore-Anne Messy, Principal Administrator, OECD, Distinguished Guests and Workshop Participants from all over the globe, Ladies and Gentlemen 2. A very warm welcome to you al
डॉ. के.सी. चक्रवर्ती, उप गवर्नर, भारतीय रिज़र्व बैंक
Mr. Pranab Mukherjee, Hon'ble Finance Minister, Government of India, Dr. D Subba Rao, Governor, Reserve Bank of India, Mr. Richard A. Boucher, OECD Deputy Secretary General, Mr. Andre Laboul, Head, OECD Financial Affairs Division and Chair, International Network on Financial Education (INFE), Ms. Flore-Anne Messy, Principal Administrator, OECD, Distinguished Guests and Workshop Participants from all over the globe, Ladies and Gentlemen 2. A very warm welcome to you al
मार्च 22, 2010
दुव्वुरी सुबाराव द्वारा वित्तीय शिक्षण आवश्यक और लाभकर
Mr. Pranab Mukherjee, Hon’ble Finance Minister of India, Ambassador Richard Boucher, Deputy Secretary General, OECD, Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India, Mr. V.K. Sharma, Executive Director, Reserve Bank of India, Distinguished Guests and my colleagues from the Reserve Bank First of all, I want to say that the Reserve Bank of India attaches immense value to this workshop on "Financial Literacy". The year 2009/10 marks the Platinum Jubilee of t
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
Mr. Pranab Mukherjee, Hon’ble Finance Minister of India, Ambassador Richard Boucher, Deputy Secretary General, OECD, Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India, Mr. V.K. Sharma, Executive Director, Reserve Bank of India, Distinguished Guests and my colleagues from the Reserve Bank First of all, I want to say that the Reserve Bank of India attaches immense value to this workshop on "Financial Literacy". The year 2009/10 marks the Platinum Jubilee of t
मार्च 22, 2010
Welcome address of Shri V.K.Sharma, Executive Director, RBI for the events held on March 22, 2010
On this momentous occasion of the launching of the project on Financial Literacy in Karnataka, it is my honour and privilege to extend a very warm and hearty welcome to Respected Dr Subbarao, Governor, Reserve Bank of India. I also extend a hearty welcome to Shri S. V. Ranganath, Chief Secretary, Govt. of Karnataka, Smt. Shyamala Gopinath, Smt.Usha Thorat, Dr.K.C.Chakrabarty and Dr. Subir Gokarn, Deputy Governors, RBI, Principal Secretaries of the Govt. of Karnataka.
Shri V.K. Sharma, Executive Director, Reserve Bank of India
On this momentous occasion of the launching of the project on Financial Literacy in Karnataka, it is my honour and privilege to extend a very warm and hearty welcome to Respected Dr Subbarao, Governor, Reserve Bank of India. I also extend a hearty welcome to Shri S. V. Ranganath, Chief Secretary, Govt. of Karnataka, Smt. Shyamala Gopinath, Smt.Usha Thorat, Dr.K.C.Chakrabarty and Dr. Subir Gokarn, Deputy Governors, RBI, Principal Secretaries of the Govt. of Karnataka.
मार्च 22, 2010
उषा थोरात द्वारा स्वागत भाषण : मैसूर में सिक्यूरिटी पेपर मिल का स्थापना समारोह
Hon’ble Finance Minister, Shri Pranab Mukherjee, Governor. RBI, Dr. Subba Rao, Members of Parliament, Shri A. H. Viswanath and Shri Dhruv Narayana, Members of Karnataka Legislative Assembly, Mayor of Mysore Shri Purushotham, Directors on the Boards of BRBNMPL and SPMCIL, distinguished guests and staff of the BRBNMPL - a very warm welcome to all of you to this traditional city of Mysore. 2. It is my proud privilege to welcome this distinguished gathering on this occasi
श्रीमती उषा थोराट, उप गवर्नर, भारतीय रिज़र्व बैंक
Hon’ble Finance Minister, Shri Pranab Mukherjee, Governor. RBI, Dr. Subba Rao, Members of Parliament, Shri A. H. Viswanath and Shri Dhruv Narayana, Members of Karnataka Legislative Assembly, Mayor of Mysore Shri Purushotham, Directors on the Boards of BRBNMPL and SPMCIL, distinguished guests and staff of the BRBNMPL - a very warm welcome to all of you to this traditional city of Mysore. 2. It is my proud privilege to welcome this distinguished gathering on this occasi
मार्च 22, 2010
माननीय वित्त मंत्री द्वारा मुख्य भाषण : वित्तीय साक्षरता प्रदान करने पर आरबीआइ-ओइसीडी कार्यशाला
Dr. D. Subbarao, Governor, Reserve Bank of India, Ambassador Richard A. Boucher, Deputy Secretary General of the Organization for Economic Co-operation and Development, ladies and gentlemen 2. It gives me great pleasure to be here to inaugurate this Workshop on Delivering Financial Literacy being co-hosted by the RBI and the OECD. I must compliment the Reserve Bank of India for thinking of hosting such a learning event as a key component of its ongoing Platinum Jubile
श्री प्रणब मुखर्जी, माननीय वित्त मंत्री
Dr. D. Subbarao, Governor, Reserve Bank of India, Ambassador Richard A. Boucher, Deputy Secretary General of the Organization for Economic Co-operation and Development, ladies and gentlemen 2. It gives me great pleasure to be here to inaugurate this Workshop on Delivering Financial Literacy being co-hosted by the RBI and the OECD. I must compliment the Reserve Bank of India for thinking of hosting such a learning event as a key component of its ongoing Platinum Jubile
मार्च 22, 2010
वी.के.शर्मा द्वारा धन्यवाद ज्ञापन : वित्तीय साक्षरता प्रदान करने पर आरबीआइ-ओइसीडी कार्यशाला
Respected Mr. Pranab Mukherjee, Hon’ble Finance Minister of India, Dr. Subbarao, Governor, Reserve Bank of India, Ambassador Richard Boucher, Deputy Secretary General, OECD, Mrs. Shyamala Gopinath, Mrs. Usha Thorat, Dr. K.C.Chakrabarty and Dr. Subir Gokarn, Deputy Governors, Reserve Bank of India, Mr. S.V. Ranganath, Chief Secretary to the Govt. Of Karnataka, Mr. Hans-Helmut Kotz, Member of Deutsche Bundesbank Executive Board and Chair of OECD Committee on Financial M
श्री वी.के. शर्मा, कार्यपालक निदेशक, रिज़र्व बैंक ऑफ इंडिया
Respected Mr. Pranab Mukherjee, Hon’ble Finance Minister of India, Dr. Subbarao, Governor, Reserve Bank of India, Ambassador Richard Boucher, Deputy Secretary General, OECD, Mrs. Shyamala Gopinath, Mrs. Usha Thorat, Dr. K.C.Chakrabarty and Dr. Subir Gokarn, Deputy Governors, Reserve Bank of India, Mr. S.V. Ranganath, Chief Secretary to the Govt. Of Karnataka, Mr. Hans-Helmut Kotz, Member of Deutsche Bundesbank Executive Board and Chair of OECD Committee on Financial M
मार्च 15, 2010
भारत में मौद्रिक नीति का कार्यान्वयन* - दीपक मोहंती
I thank the Bankers Club, Bhubaneswar for providing me this opportunity to speak to you this evening. How does the Reserve Bank of India implement monetary policy? This is the question I would like to address. But before doing that I will briefly touch upon the objectives and framework of monetary policy, as they have evolved, to set the context for discussion on operational aspects of monetary policy. I will conclude with a discussion on the process of monetary polic
श्री दीपक मोहंती, कार्यपालक निदेशक, रिज़र्व बैंक ऑफ इंडिया
I thank the Bankers Club, Bhubaneswar for providing me this opportunity to speak to you this evening. How does the Reserve Bank of India implement monetary policy? This is the question I would like to address. But before doing that I will briefly touch upon the objectives and framework of monetary policy, as they have evolved, to set the context for discussion on operational aspects of monetary policy. I will conclude with a discussion on the process of monetary polic
मार्च 04, 2010
उषा थोरात द्वारा बैंकिंग विनियमन पर भारतीय परिप्रेक्ष्य
1. I am delighted to participate in this Conference on ‘Financial Sector Regulation and Reform in Asian Emerging Markets’ jointly organised by the Asian Development Bank Institute, the International Center for Financial Regulation, the UK Foreign and Commonwealth Office and the Brookings Institution. In the session that just concluded, we heard about financial sector developments in emerging markets. In this session, I will like to present the Indian perspective on ba
श्रीमती उषा थोराट, उप गवर्नर, भारतीय रिज़र्व बैंक
1. I am delighted to participate in this Conference on ‘Financial Sector Regulation and Reform in Asian Emerging Markets’ jointly organised by the Asian Development Bank Institute, the International Center for Financial Regulation, the UK Foreign and Commonwealth Office and the Brookings Institution. In the session that just concluded, we heard about financial sector developments in emerging markets. In this session, I will like to present the Indian perspective on ba
मार्च 04, 2010
भारत में मुद्रास्फीति का गतिशीस्त्र : मुद्दे और चिंताएं* - दीपक मोहंती
I thank the Bombay Chamber of Commerce and Industry for giving me this opportunity to speak on inflation which is of immediate concern for our economy. I will begin with the trends in inflation, then briefly touch upon the costs of inflation, followed by an analysis of current inflation dynamics. I will conclude by flagging the areas of policy concern. Trends in Inflation There are expectations that the high levels of slack in resource utilisation and stable inflation
श्री दीपक मोहंती, कार्यपालक निदेशक, रिज़र्व बैंक ऑफ इंडिया
I thank the Bombay Chamber of Commerce and Industry for giving me this opportunity to speak on inflation which is of immediate concern for our economy. I will begin with the trends in inflation, then briefly touch upon the costs of inflation, followed by an analysis of current inflation dynamics. I will conclude by flagging the areas of policy concern. Trends in Inflation There are expectations that the high levels of slack in resource utilisation and stable inflation
मार्च 02, 2010
संपूर्ण बाज़ारों की तलाश-नजर से परे के संदर्भ श्यामला गोपीनाथ
It is my pleasure to be delivering the keynote address at the FEDAI conference being hosted in this beautiful country. India and Kenya share a historical relationship and I am delighted to have got an opportunity to visit this country. I have been following some of the recent interesting initiatives by the Central Bank of Kenya and was really impressed by the developments in the areas such as payment systems, credit information sharing, currency management, financial
श्रीमती श्यामला गोपीनाथ, उप गवर्नर, भारतीय रिज़र्व बैंक
It is my pleasure to be delivering the keynote address at the FEDAI conference being hosted in this beautiful country. India and Kenya share a historical relationship and I am delighted to have got an opportunity to visit this country. I have been following some of the recent interesting initiatives by the Central Bank of Kenya and was really impressed by the developments in the areas such as payment systems, credit information sharing, currency management, financial
मार्च 02, 2010
भारत में मौद्रिक नीति की संरचना : बहुसंकेतक दृष्टिकोण के अनुभव दीपक मोहंती
I am honoured to deliver the 2nd Professor Baidyanath Mishra Lecture. Prof. Mishra is a multi-faceted personality: an economist, an educationist and an institution-builder. Above all, he is a great teacher who inspired generations of students. I thank the Orissa Economic Association for giving me this opportunity. 2. I will set out how the framework of monetary policy has evolved over the last two and half decades. First, I will touch upon the objectives of monetary p
श्री दीपक मोहंती, कार्यपालक निदेशक, रिज़र्व बैंक ऑफ इंडिया
I am honoured to deliver the 2nd Professor Baidyanath Mishra Lecture. Prof. Mishra is a multi-faceted personality: an economist, an educationist and an institution-builder. Above all, he is a great teacher who inspired generations of students. I thank the Orissa Economic Association for giving me this opportunity. 2. I will set out how the framework of monetary policy has evolved over the last two and half decades. First, I will touch upon the objectives of monetary p
फ़रवरी 24, 2010
स्वागत भाषण : ग्यारहवां एल.के.झा स्मारक व्याख्यान दुव्वुरी सुब्बाराव
On behalf of the Reserve Bank of India, I have great pleasure in welcoming Prof. John Brian Taylor who will shortly be delivering the L. K. Jha Memorial Lecture. We are very happy to welcome also Ms. Raye Allyn Taylor who has accompanied Prof. Taylor. I also want to acknowledge the family members of late Dr. L.K. Jha - Smt. Dipika Maharaj Singh, Smt. and Shri. Aditya Maharaj Singh, Trisha Maharaj Singh. Many thanks to all of you for rejoining the RBI family. And of co
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
On behalf of the Reserve Bank of India, I have great pleasure in welcoming Prof. John Brian Taylor who will shortly be delivering the L. K. Jha Memorial Lecture. We are very happy to welcome also Ms. Raye Allyn Taylor who has accompanied Prof. Taylor. I also want to acknowledge the family members of late Dr. L.K. Jha - Smt. Dipika Maharaj Singh, Smt. and Shri. Aditya Maharaj Singh, Trisha Maharaj Singh. Many thanks to all of you for rejoining the RBI family. And of co
फ़रवरी 24, 2010
उभरते बाज़ार में मौद्रिक नीति निर्धांरन के लिए वित्तीय संकट से सीख जॉन ब्रायान टेलर
I am honored to give this lecture in memory of L.K. Jha. It is a particular privilege to deliver it at this Platinum Jubilee celebration of the Reserve Bank of India. L. K. Jha was a truly outstanding economist and public servant, with experience at all levels of government. He rose up through the Indian Civil Service to become the Principal Secretary to the Prime Minister, after which he became Governor of the Reserve Bank of India, and then Ambassador to the United
प्रो जॉन ब्रायन टेलर, गेस्ट स्पीकर
I am honored to give this lecture in memory of L.K. Jha. It is a particular privilege to deliver it at this Platinum Jubilee celebration of the Reserve Bank of India. L. K. Jha was a truly outstanding economist and public servant, with experience at all levels of government. He rose up through the Indian Civil Service to become the Principal Secretary to the Prime Minister, after which he became Governor of the Reserve Bank of India, and then Ambassador to the United
फ़रवरी 15, 2010
स्वागत भाषण : चौदहवां सी.डी.देशमुख स्मारक व्याख्यान डी. सुब्बाराव
On behalf of Reserve Bank of India, I have great pleasure in welcoming Lord Turner, Chairman of the Financial Services Authority of the UK, who will shortly be delivering the C.D. Deshmukh Memorial Lecture. I also want to specially acknowledge the family members of late Sir C.D. Deshmukh – Smt. and Shri Atul Deshmukh, Shri Ashish Deshmukh and Smt. and Shri Chitnis - who are here with us today. Thank you very much to all of you for rejoining the RBI family today. And,
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
On behalf of Reserve Bank of India, I have great pleasure in welcoming Lord Turner, Chairman of the Financial Services Authority of the UK, who will shortly be delivering the C.D. Deshmukh Memorial Lecture. I also want to specially acknowledge the family members of late Sir C.D. Deshmukh – Smt. and Shri Atul Deshmukh, Shri Ashish Deshmukh and Smt. and Shri Chitnis - who are here with us today. Thank you very much to all of you for rejoining the RBI family today. And,
फ़रवरी 15, 2010
संकट के बाद : वित्तीय उदारीकरण की लागत और लाभ का मुल्यांकन अडायर टर्नर
Mr Governor, ladies and gentlemen, it is a great honour to have been invited to give the 14th Chintaman Deshmukh memorial lecture, and a great pleasure to be with you here in Mumbai. The Reserve Bank of India has a high reputation as a centre of thoughtful analysis of the important issues of financial stability and optimal policy which concern policy makers throughout the world, and a high reputation for having helped steer India through the recent financial turmoil.
लॉर्ड अडायर टर्नर, अध्यक्ष, वित्तीय सेवा प्राधिकरण, यूनाइटेड किंगडम
Mr Governor, ladies and gentlemen, it is a great honour to have been invited to give the 14th Chintaman Deshmukh memorial lecture, and a great pleasure to be with you here in Mumbai. The Reserve Bank of India has a high reputation as a centre of thoughtful analysis of the important issues of financial stability and optimal policy which concern policy makers throughout the world, and a high reputation for having helped steer India through the recent financial turmoil.
फ़रवरी 12, 2010
उद्घाटन भाषण : पहला अंतर्राष्ट्रीय अनुसंधान सम्मेलन : वित्तीय संकट के संदर्भ में केंद्रीय बैंकिंग के लिए चुनौतियाँ - दुव्वुरी सुब्बाराव
Central banks and central bankers have been at the heart of the global financial crisis. We have been blamed for policies and actions that got the world into the crisis; we are also being praised for leading from the front in getting the world out of the crisis. I believe this is fair critique - central banks have been a part of the problem and a part of the solution. 2. As we emerge out of the crisis, central banks have their task cut out for them: to distil the less
डॉ. डी. सुब्बाराव, गवर्नर, भारतीय रिज़र्व बैंक
Central banks and central bankers have been at the heart of the global financial crisis. We have been blamed for policies and actions that got the world into the crisis; we are also being praised for leading from the front in getting the world out of the crisis. I believe this is fair critique - central banks have been a part of the problem and a part of the solution. 2. As we emerge out of the crisis, central banks have their task cut out for them: to distil the less

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पृष्ठ अंतिम बार अपडेट किया गया: जून 04, 2025

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पृष्ठ अंतिम बार अपडेट किया गया: नवंबर 23, 2022