Banker to Banks

Good Morning Governor, Deputy Governors S.S. Mundra, N.S. Viswanathan and B. P. Kanungo, our Chief Guest, Speakers and the team! Introduction to the Annual Statistics Day Taking off from Shri Chetan Bhagat’s address in the pre-conference dinner last evening, I hope you are all ‘alive’ today, rather than just ‘existing’ or ‘fading’. Thank you for coming in large numbers for the Annual Statistics Day Conference of the Reserve Bank of India. This auditorium has a limited

Introduction The idea of “Central Bank Digital Currencies” (CBDC) is not a recent development. Some attribute the origins of CBDCs to Nobel laureate James Tobin2, an American economist, who in 1980s suggested that that Federal Reserve Banks in the United States could make available to the public a widely accessible ‘medium with the convenience of deposits and the safety of currency.’ It is only in the last decade, however, that the concept of digital currency has been

Shri A. C. Mahajan, Chairman, Banking Codes and Standards Board of India (BCSBI); Shri Anand Aras, CEO, BCSBI; colleagues from the banking industry; representatives from the media; ladies and gentlemen! At the outset, I would like to thank BCSBI for inviting me for this annual conference of the Principal Code Compliance Officers (PCCOs) in the banks. 2. During the past 12 years of its existence, BCSBI has played a pivotal role in enhancing awareness about customer ser

1. Let me start by reminding ourselves of some numbers that are a key backdrop for today’s panel discussion. Total global external liabilities have grown from 30 per cent to 190 per cent of global GDP between 1980 and 2015, far outpacing the growth in global trade (from 19 per cent to 28 per cent of GDP over the same period). The main vehicle of this new globalisation has been cross-border banking flows, which constituted a third of global capital flows in the decade

Namaskar, Chief Executive Officer and Chief Ombudsman, Australian Financial Complaints Authority, Mr. David Locke, Deputy Governor, RBI, Shri M K Jain, Executive Directors, RBI, Shri Anil Kumar Sharma and Shri S C Murmu, Managing Director & Chief Executive Officers of Banks and NBFCs, Shri Gaur Gopal Das, Prof. M. S. Sriram, Ombudsmen and colleagues from the Reserve Bank of India. 1. I am delighted to address this annual conference of the RBI Ombudsmen which is ta

1. It gives me great pleasure to be here this morning to share some observations and thoughts. The theme of this international conference: “Financial System and the Macroeconomy”, and the papers that are slated for presentation touch upon a number of issues that the Reserve Bank has been grappling with. (Needless to say, some of the conference participants who follow the Indian economy closely would already be aware of what I am about to briefly enunciate, but others

Ladies and Gentlemen, On behalf of the Reserve Bank of India, I warmly welcome you and thank you for accepting our invitation to join us today in this seminar. 1. In the recent period, farm loan waivers have engaged intense attention among the farming community, policy makers, academics, analysts and researchers. On the one hand, there is a gamut of issues that have intensified the anguish of our farmers. In this context, farm loan waivers have brought forward the urg

Dr. R. B. Barman, former Chairman, National Statistical Commission, Shri S. H. Saoji, Dr. A. K. Nag and other former colleagues who contributed richly to the Basic Statistical Return (BSR) system, senior officials from banks – I am glad to see many Chief Compliance Officers (CCOs) of banks participating today – Executive Directors and other colleagues from the Reserve Bank, Ladies and Gentlemen, 2. Today, we celebrate the 50th year of the BSR system and pause to refle

Ms. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL), Mr. Aristobulo de Juan, a veteran supervisor and an international consultant, Mr. Pierre Yves Thoraval, former Deputy Secretary General of the French Banking Commission, Mr. Chris Cardoza, Program Director at the Toronto Centre, Ms. Shyamala Gopinath, former Deputy Governor, Reserve Bank of India and all the esteemed delegates of the conference. It is my privilege to address you a

1. In recent years, emerging market economies (EMEs) are increasingly becoming a source of foreign investment for rest of the world. It is not only a sign of their increasing participation in the global economy but also of their increasing competence. More importantly, a growing impetus for change today is coming from developing countries and economies in transition, where a number of private as well as state-owned enterprises are increasingly undertaking outward expa