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ಏಪ್ರಿ 19, 2008
The Role of Fiscal and Monetary Policies in Sustaining Growth with Stability in India
Rakesh Mohan* The performance of the Indian economy in recent years has attracted increasing international interest. This conference is therefore a timely one to take stock of what has happened and to also deepen our understanding of the policies and processes that have led to the current trends. This paper focuses on the role of fiscal and monetary policies in the evolution of the Indian economy over the years, with particular attention being given to the reforms und
Rakesh Mohan* The performance of the Indian economy in recent years has attracted increasing international interest. This conference is therefore a timely one to take stock of what has happened and to also deepen our understanding of the policies and processes that have led to the current trends. This paper focuses on the role of fiscal and monetary policies in the evolution of the Indian economy over the years, with particular attention being given to the reforms und
ಜೂನ್ 29, 2009
Sub-national Fiscal Reforms and Debt Management - Indian Experience
It gives me great pleasure to be here amongst you and address the World Bank Sub-national Fiscal Reform and Debt Management Forum. There is more than one reason on my part to accept this invitation, but more importantly, to share with you the turnaround story at the sub-national level in India. The relevance of fiscal reforms and creation of fiscal space even at the sub-national level can hardly be over-emphasised in the context of the on-going slowdown the world over
It gives me great pleasure to be here amongst you and address the World Bank Sub-national Fiscal Reform and Debt Management Forum. There is more than one reason on my part to accept this invitation, but more importantly, to share with you the turnaround story at the sub-national level in India. The relevance of fiscal reforms and creation of fiscal space even at the sub-national level can hardly be over-emphasised in the context of the on-going slowdown the world over
ಫೆಬ್ರವರಿ 13, 2007
Current Challenges to Monetary Policy Making in India
Dr. Kannan, members of the Actuarial Society of India and distinguished delegates.I am deeply honoured to be invited to address the 9th Global Conference of Actuaries today. Strong winds of change are sweeping across the Indian financial landscape. We therefore have to adapt ourselves appropriately to update our understanding of these changes. All stakeholders are involved in this silent transformation. As actuaries, your stake is significant since you will shape the
Dr. Kannan, members of the Actuarial Society of India and distinguished delegates.I am deeply honoured to be invited to address the 9th Global Conference of Actuaries today. Strong winds of change are sweeping across the Indian financial landscape. We therefore have to adapt ourselves appropriately to update our understanding of these changes. All stakeholders are involved in this silent transformation. As actuaries, your stake is significant since you will shape the
ಜುಲೈ 31, 2009
Global Financial Crisis Questioning the Questions
JRD Tata Thank you for inviting me to deliver this year’s JRD Tata Memorial Lecture. It is an honour to which I attach a lot of value. The man whose life this series of lectures commemorates, JRD Tata - or JRD, as he was known - left a great legacy as a visionary, as an industry leader, as a philanthropist, and above all as a humanist. 2. Two words capture JRD’s lasting contribution, nation builder. His commitment to India’s development was deep and abiding, and he wa
JRD Tata Thank you for inviting me to deliver this year’s JRD Tata Memorial Lecture. It is an honour to which I attach a lot of value. The man whose life this series of lectures commemorates, JRD Tata - or JRD, as he was known - left a great legacy as a visionary, as an industry leader, as a philanthropist, and above all as a humanist. 2. Two words capture JRD’s lasting contribution, nation builder. His commitment to India’s development was deep and abiding, and he wa
ಮಾರ್ಚ್ 02, 2007
Banking in the Hinterland
Ladies and Gentlemen,It gives me great pleasure to be here this morning to share my thoughts on banking in the hinterland. The theme of my talk today is that there is a huge business opportunity in banks going rural. Rural banking has great potential if banks adopt appropriate approach and suitable strategies - scale up their business levels, achieve capacity utilisation and devise innovative ways to cater to the typical needs of the vast rural sector.I will divide my
Ladies and Gentlemen,It gives me great pleasure to be here this morning to share my thoughts on banking in the hinterland. The theme of my talk today is that there is a huge business opportunity in banks going rural. Rural banking has great potential if banks adopt appropriate approach and suitable strategies - scale up their business levels, achieve capacity utilisation and devise innovative ways to cater to the typical needs of the vast rural sector.I will divide my
ಆಗ 10, 2009
Technology, Financial Inclusion and Role of Urban Cooperative Banks *
Hon’ble Finance Minister, Govt. of Andhra Pradesh, Shri Rosaiahji; Chairman, A.P. Mahesh Co-operative Urban Bank Shri Ramesh Kumar Bung; Sr. Vice-Chairman Purshotamdas Mandhana; Vice-Chairperson Smt Pushpa Boob, Board of Directors, Senior Executives, Staff Members, Ladies and Gentlemen, I am delighted to be here this evening amongst all of you on the occasion of the 32nd Foundation Day Celebrations of The A.P. Mahesh Cooperative Urban Bank Ltd. I would like to thank y
Hon’ble Finance Minister, Govt. of Andhra Pradesh, Shri Rosaiahji; Chairman, A.P. Mahesh Co-operative Urban Bank Shri Ramesh Kumar Bung; Sr. Vice-Chairman Purshotamdas Mandhana; Vice-Chairperson Smt Pushpa Boob, Board of Directors, Senior Executives, Staff Members, Ladies and Gentlemen, I am delighted to be here this evening amongst all of you on the occasion of the 32nd Foundation Day Celebrations of The A.P. Mahesh Cooperative Urban Bank Ltd. I would like to thank y
ಆಗ 13, 2009
Banking: Key Driver for Inclusive Growth
Ladies and Gentlemen: It gives me immense pleasure to be here this evening in front of an august audience for today’s Mint debate series on the theme ‘Banking: Key Driver for Inclusive Growth’. I would like to thank the sponsors and all of you for inviting me here to share my views and thoughts on a subject which has become of great significance today for the growth of the Indian economy. The previous Conclaves organized by the Mint brought together the eminent banker
Ladies and Gentlemen: It gives me immense pleasure to be here this evening in front of an august audience for today’s Mint debate series on the theme ‘Banking: Key Driver for Inclusive Growth’. I would like to thank the sponsors and all of you for inviting me here to share my views and thoughts on a subject which has become of great significance today for the growth of the Indian economy. The previous Conclaves organized by the Mint brought together the eminent banker
ಜುಲೈ 11, 2009
Impact of global financial crisis on Reserve Bank of India (RBI) as a National Regulator
I am delighted to be here in Seoul, participating in this 56th EXCOM Meeting and FinPower CEO Forum - my thanks to Secretary General Bayaua for inviting me to make this presentation on the ‘impact of the global financial crisis on RBI as a national regulator’. In order to understand the impact of the global crisis on India and the manner in which the Reserve Bank of India (RBI) responded, it is important to realise that the RBI is a central bank that is entrusted with
I am delighted to be here in Seoul, participating in this 56th EXCOM Meeting and FinPower CEO Forum - my thanks to Secretary General Bayaua for inviting me to make this presentation on the ‘impact of the global financial crisis on RBI as a national regulator’. In order to understand the impact of the global crisis on India and the manner in which the Reserve Bank of India (RBI) responded, it is important to realise that the RBI is a central bank that is entrusted with
ಅಕ್ಟೋ 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
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
ಆಗ 08, 2022
Edited Transcript of Reserve Bank of India’s Monetary Policy Press Conference: August 05, 2022
Participants from RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri M. K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Dr. O. P. Mall – Executive Director, Reserve Bank of India Dr. Rajiv Ranjan – Executive Director, Reserve Bank of India Moderator: Shri Yogesh Dayal –
Participants from RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri M. K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Dr. O. P. Mall – Executive Director, Reserve Bank of India Dr. Rajiv Ranjan – Executive Director, Reserve Bank of India Moderator: Shri Yogesh Dayal –
ಏಪ್ರಿ 11, 2022
Edited Transcript of Reserve Bank of India’s Monetary Policy Press Conference: April 08, 2022
Participants From RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao - Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar - Deputy Governor, Reserve Bank of India Moderator: Shri Yogesh Dayal - Chief General Manager, Reserve Bank of India Yogesh Dayal: Hello and welcome to this post policy conference. It's
Participants From RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao - Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar - Deputy Governor, Reserve Bank of India Moderator: Shri Yogesh Dayal - Chief General Manager, Reserve Bank of India Yogesh Dayal: Hello and welcome to this post policy conference. It's
ಜೂನ್ 08, 2022
Edited Transcript of Reserve Bank of India’s Monetary Policy Press Conference
Participants From RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Moderator: Shri Yogesh Dayal – Chief General Manager, Reserve Bank of IndiaYogesh Dayal: Hello and welcome to this post Policy Conference. With
Participants From RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Moderator: Shri Yogesh Dayal – Chief General Manager, Reserve Bank of IndiaYogesh Dayal: Hello and welcome to this post Policy Conference. With
ಫೆಬ್ರವರಿ 15, 2022
Edited Transcript of Reserve Bank of India’s Monetary Policy Press Conference: February 10, 2022
Participants from RBI:Shri Shaktikanta Das – Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Shri S. C. Murmu – Executive Director, Reserve Bank of India Shri Yogesh Dayal – Chief General Manager, Reserve Bank of India (moderator) Shaktikanta Das: Yogesh. We can start. I think everybody has joined the
Participants from RBI:Shri Shaktikanta Das – Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Shri S. C. Murmu – Executive Director, Reserve Bank of India Shri Yogesh Dayal – Chief General Manager, Reserve Bank of India (moderator) Shaktikanta Das: Yogesh. We can start. I think everybody has joined the
ಆಗ 25, 2022
Edited excerpts of the Governor’s interview with ET Now on August 23, 2022
The Indian economy has emerged as a strong economy post the COVID crisis. Thanks to the Jugalbandi between the Reserve Bank of India and the Government of India; the Indian economy on a relative basis and also an absolute basis now, clearly is on a pedestal positioning. But the challenges of yesterday are different, and the challenges of today are, in a sense, centred around inflation, geopolitical crisis and a high-interest rate regime. So to understand, what is the
The Indian economy has emerged as a strong economy post the COVID crisis. Thanks to the Jugalbandi between the Reserve Bank of India and the Government of India; the Indian economy on a relative basis and also an absolute basis now, clearly is on a pedestal positioning. But the challenges of yesterday are different, and the challenges of today are, in a sense, centred around inflation, geopolitical crisis and a high-interest rate regime. So to understand, what is the
ಮೇ 27, 2022
Edited Transcript of Governor’s Interview with CNBC TV18 on May 23, 2022
CNBC TV18 Central bankers have been at the centre of action, the saviours for the economy; be it from the ravages of COVID or now, to rapidly rollback inflation. The Reserve Bank of India has also been the first line of defence for the country, and it made that position very clear when on May 4th, we had that unexpected off-cycle rise in rates. Inflation, nevertheless, is at 7.8 per cent. The man on the hot seat, the RBI governor is with us. Governor, thank you very m
CNBC TV18 Central bankers have been at the centre of action, the saviours for the economy; be it from the ravages of COVID or now, to rapidly rollback inflation. The Reserve Bank of India has also been the first line of defence for the country, and it made that position very clear when on May 4th, we had that unexpected off-cycle rise in rates. Inflation, nevertheless, is at 7.8 per cent. The man on the hot seat, the RBI governor is with us. Governor, thank you very m
ಆಗ 11, 2016
Edited Transcript of Reserve Bank of India’s Post Policy Conference Call with Media
Participants from RBI: Dr. Raghuram G. Rajan – Governor Dr. Urjit R. Patel – Deputy Governor Shri R. Gandhi – Deputy Governor Shri S.S. Mundra – Deputy Governor Shri N.S. Vishwanathan –Deputy Governor Dr. Michael D. Patra – Executive Director Moderator: Ms. Alpana Killawala – Principal Adviser Lata Venkatesh: CNBC TV18 Good morning, Governor. Lata Venkatesh from CNBC TV18. Well, a very prominent word is adequate provision of liquidity and move towards system neutralit
Participants from RBI: Dr. Raghuram G. Rajan – Governor Dr. Urjit R. Patel – Deputy Governor Shri R. Gandhi – Deputy Governor Shri S.S. Mundra – Deputy Governor Shri N.S. Vishwanathan –Deputy Governor Dr. Michael D. Patra – Executive Director Moderator: Ms. Alpana Killawala – Principal Adviser Lata Venkatesh: CNBC TV18 Good morning, Governor. Lata Venkatesh from CNBC TV18. Well, a very prominent word is adequate provision of liquidity and move towards system neutralit
ಫೆಬ್ರವರಿ 01, 2008
Capital Flows to India
Rakesh Mohan* Introduction In most of the period since the mid-1990s, external sector developments in India have been marked by strong capital flows. Capital flows to India, which were earlier mainly confined to small official concessional finance, gained momentum from the 1990s after the initiation of economic reforms. Apart from increase in size, capital flows to India have undergone a compositional shift from predominantly official and private debt flows to non-deb
Rakesh Mohan* Introduction In most of the period since the mid-1990s, external sector developments in India have been marked by strong capital flows. Capital flows to India, which were earlier mainly confined to small official concessional finance, gained momentum from the 1990s after the initiation of economic reforms. Apart from increase in size, capital flows to India have undergone a compositional shift from predominantly official and private debt flows to non-deb
ಜುಲೈ 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
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
ಸೆಪ್ಟೆಂ 22, 2009
V K Sharma: Supervising in a Crisis Environment
I thank International Credit Union Regulators Network for inviting me to this Regulators Roundtable to share our experience of Supervising in Crisis Environment. I greatly appreciate the selection of the topic, the relevance of which cannot be over emphasized today. Urban Cooperative Banks (UCBs) in India are akin to Credit Unions as they are member-driven and are essentially community-based. However, unlike credit unions, UCBs are also permitted to accept deposits fr
I thank International Credit Union Regulators Network for inviting me to this Regulators Roundtable to share our experience of Supervising in Crisis Environment. I greatly appreciate the selection of the topic, the relevance of which cannot be over emphasized today. Urban Cooperative Banks (UCBs) in India are akin to Credit Unions as they are member-driven and are essentially community-based. However, unlike credit unions, UCBs are also permitted to accept deposits fr
ಸೆಪ್ಟೆಂ 04, 2009
Policy Lessons from the Global Financial Crisis
Shri Mukul Somany, Chairman, Confederation of Indian Industrty (Eastern Region), Shri S.S. Kohli, Chairman & Managing Director, India Infrastructure Finance Company Limited, Shri S.C. Gupta, Chairman & Managing Director, United Bank of India, Shri Ambarish Dasgupta, Executive Director, PwC, Shri R.K. Agrawal, Chairman, Economic Affairs, Finance & Taxation Subcommittee, CII (ER) and distinguished guests and invitees, members of the electronic and print medi
Shri Mukul Somany, Chairman, Confederation of Indian Industrty (Eastern Region), Shri S.S. Kohli, Chairman & Managing Director, India Infrastructure Finance Company Limited, Shri S.C. Gupta, Chairman & Managing Director, United Bank of India, Shri Ambarish Dasgupta, Executive Director, PwC, Shri R.K. Agrawal, Chairman, Economic Affairs, Finance & Taxation Subcommittee, CII (ER) and distinguished guests and invitees, members of the electronic and print medi
ನವೆಂ 21, 2008
V K Sharma: Genesis, Diagnosis and Prognosis of the Current Global Financial Crisis
I heartily welcome you all to the Senior Management Conference 2008. As at the time of the last Senior Management Conference, the now 14-month old, and still ongoing, global financial market convulsion, with no hint even now of its cataclysmic denouement, and its recent direct outcome, the widespread global economic slowdown, provide, again, the perfect backdrop, and contextual topicality, to this year's conference theme "Financial Sector Development in India: Agenda
I heartily welcome you all to the Senior Management Conference 2008. As at the time of the last Senior Management Conference, the now 14-month old, and still ongoing, global financial market convulsion, with no hint even now of its cataclysmic denouement, and its recent direct outcome, the widespread global economic slowdown, provide, again, the perfect backdrop, and contextual topicality, to this year's conference theme "Financial Sector Development in India: Agenda
ಅಕ್ಟೋ 12, 2011
Financial Inclusion | A road India needs to travel
India has seen historic progress and growth in the past decade. While the growth story has been impressive, there are causes for concern on other dimensions. We have a long way to go in addressing concerns of absolute poverty. Low-income Indian households in the informal or subsistence economy often have to borrow from friends, family or usurious moneylenders. They have little awareness and practically no access to insurance products that could protect their financial
India has seen historic progress and growth in the past decade. While the growth story has been impressive, there are causes for concern on other dimensions. We have a long way to go in addressing concerns of absolute poverty. Low-income Indian households in the informal or subsistence economy often have to borrow from friends, family or usurious moneylenders. They have little awareness and practically no access to insurance products that could protect their financial
ಆಗ 19, 2009
V K Sharma: The International Financial Crisis and India – the Impact, Response and Outlook
His Excellency the High Commissioner of India Mr. Bhatia, Mr. Navdeep Suri, Consul General of India, Mr. Hari Bhartia, Vice-President of CII, Dr. Guma, Dy. Governor, South African Reserve Bank, Mr. Rudolf Gouws, Chief Economist, Rand Merchant Bank, distinguished invitees and delegates, First of all I would wish to thank His Excellency the High Commissioner of India for giving me the opportunity and privilege to address this distinguished and august audience. Second, I
His Excellency the High Commissioner of India Mr. Bhatia, Mr. Navdeep Suri, Consul General of India, Mr. Hari Bhartia, Vice-President of CII, Dr. Guma, Dy. Governor, South African Reserve Bank, Mr. Rudolf Gouws, Chief Economist, Rand Merchant Bank, distinguished invitees and delegates, First of all I would wish to thank His Excellency the High Commissioner of India for giving me the opportunity and privilege to address this distinguished and august audience. Second, I
ಏಪ್ರಿ 21, 2009
V K Sharma: Issues in Capital account Convertibility and Lessons from the Current Financial Crisis
Mr. Jean Leviol, Minister Counsellor for Economic Affairs, Embassy of France, New Delhi, Mr. Gerard Beduneau, Director, IBFI, Banque de France, Mrs. Isabelle Vaillant, Deputy Director, International and Economic Relations, Banque de France, Mr. Sanjaya Panth, Senior Resident Representative, IMF, New Delhi, Mr. Sandip Ghose, Principal, College of Agricultural Banking, Dr. R. K. Pattnaik, Advisor, Reserve Bank of India and Dear Friends, I welcome you all to the RBI-BdF
Mr. Jean Leviol, Minister Counsellor for Economic Affairs, Embassy of France, New Delhi, Mr. Gerard Beduneau, Director, IBFI, Banque de France, Mrs. Isabelle Vaillant, Deputy Director, International and Economic Relations, Banque de France, Mr. Sanjaya Panth, Senior Resident Representative, IMF, New Delhi, Mr. Sandip Ghose, Principal, College of Agricultural Banking, Dr. R. K. Pattnaik, Advisor, Reserve Bank of India and Dear Friends, I welcome you all to the RBI-BdF
ಅಕ್ಟೋ 19, 2011
Inflation | Decoding the Dynamics
In India, we have multiple price gauges—six consumer price indices (CPIs) and a Wholesale Price Index (WPI). While the Reserve Bank of India (RBI) examines all the price indices, both at aggregate and disaggregated levels, changes in WPI are taken as the headline inflation for policy articulation. Within WPI, non-food manufactured products inflation is considered the core inflation—an indicator of demand condition. Going by any measure of inflation, India comes out as
In India, we have multiple price gauges—six consumer price indices (CPIs) and a Wholesale Price Index (WPI). While the Reserve Bank of India (RBI) examines all the price indices, both at aggregate and disaggregated levels, changes in WPI are taken as the headline inflation for policy articulation. Within WPI, non-food manufactured products inflation is considered the core inflation—an indicator of demand condition. Going by any measure of inflation, India comes out as
ಜುಲೈ 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.
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.
ಸೆಪ್ಟೆಂ 16, 2003
Indian Economic Scenario Yesterday – Today – Tomorrow
I am honoured to address this gathering which has been facilitating constructive interactions and garnering public debate on various issues confronting India. The theme chosen for this gathering ‘Indian Economic Scenario – Yesterday, Today and Tomorrow’ is one of the most important issues requiring wide public debate as the Indian Financial system is passing through a phase of transformation and consolidation. It is time to build strategies for the challenges that lie
I am honoured to address this gathering which has been facilitating constructive interactions and garnering public debate on various issues confronting India. The theme chosen for this gathering ‘Indian Economic Scenario – Yesterday, Today and Tomorrow’ is one of the most important issues requiring wide public debate as the Indian Financial system is passing through a phase of transformation and consolidation. It is time to build strategies for the challenges that lie
ಏಪ್ರಿ 06, 2015
Musings of a Departing Forex Market Regulator
Mr. Gupta, Chairman, FEDAI, Mr. Vohra, Mr. Banerjee, Vice- Chairmen, Mr. Patwardhan, CEO, my banker friends, colleagues from the RBI, ladies and gentlemen, 1. It gives me great pleasure to be here with you this morning. The Foreign Exchange Dealers’ Association of India has been choosing exciting overseas locations for its annual conventions these days, and this beautiful city, with its long history and increasing pre-eminence in European and international affairs is
Mr. Gupta, Chairman, FEDAI, Mr. Vohra, Mr. Banerjee, Vice- Chairmen, Mr. Patwardhan, CEO, my banker friends, colleagues from the RBI, ladies and gentlemen, 1. It gives me great pleasure to be here with you this morning. The Foreign Exchange Dealers’ Association of India has been choosing exciting overseas locations for its annual conventions these days, and this beautiful city, with its long history and increasing pre-eminence in European and international affairs is
ಮಾರ್ಚ್ 25, 2014
Strengthening and Revitalising Rural Cooperative Credit Delivery System
1. I am extremely happy to be with you today and thank Dr. Harsh Kumar Bhanwala, Chairman, NABARD and the organizers of this National Meet of State Cooperative Banks for inviting me to share the Reserve Bank's perspectives. 2. Since inception the Indian Cooperative movement was initiated by the Government to align the rural credit system with the objectives of development planning. The RBI played an important role. The RBI's concern and involvement in the sphere of ru
1. I am extremely happy to be with you today and thank Dr. Harsh Kumar Bhanwala, Chairman, NABARD and the organizers of this National Meet of State Cooperative Banks for inviting me to share the Reserve Bank's perspectives. 2. Since inception the Indian Cooperative movement was initiated by the Government to align the rural credit system with the objectives of development planning. The RBI played an important role. The RBI's concern and involvement in the sphere of ru
ಸೆಪ್ಟೆಂ 03, 2002
Managing Public Debt - Issues and Challenges
I thank the ASSOCHAM for inviting me at the Valedictory session of the Seminar on Managing Public Debt.During the course of Seminar, various aspects of Managing Public Debt have been discussed. Many suggestions have been made by the speakers. I am sure these suggestions will be sent to Government for consideration.Practically, all aspects of Debt Management have been discussed in the Seminar. I would, therefore, be supplementing to what has already been said.Role of R
I thank the ASSOCHAM for inviting me at the Valedictory session of the Seminar on Managing Public Debt.During the course of Seminar, various aspects of Managing Public Debt have been discussed. Many suggestions have been made by the speakers. I am sure these suggestions will be sent to Government for consideration.Practically, all aspects of Debt Management have been discussed in the Seminar. I would, therefore, be supplementing to what has already been said.Role of R
ಮಾರ್ಚ್ 19, 2004
Role of Central Bankers in Emerging Economy like India
Dr. Kanu Doshiwas kind enough to leave the choice of topic for today’s lecture, to be decided by me. I chose this topic as I consider it to be one which would perhaps be of interest to bright and young students and one of contemporary relevance. Although the role of central banking is extensively discussed in the literature on monetary economics, the role of central bankers has remained obscure as central bankers were traditionally meant to operate in anonymity and th
Dr. Kanu Doshiwas kind enough to leave the choice of topic for today’s lecture, to be decided by me. I chose this topic as I consider it to be one which would perhaps be of interest to bright and young students and one of contemporary relevance. Although the role of central banking is extensively discussed in the literature on monetary economics, the role of central bankers has remained obscure as central bankers were traditionally meant to operate in anonymity and th
ಮೇ 13, 2014
Credit Scoring
Shri R.K. Dubey, Chairman and Managing Director, Canara Bank of India, other distinguished guests, ladies and gentlemen. I am happy to be here for the launch of Canara Bank’s credit scoring model for MSMEs. We had recently on November 29, 2013 held a workshop on credit scoring models with experts from IFC, which was fundamentally aimed at capacity building in the banking sector by imparting practical knowhow to Bankers who are expected to use it in their day-to-day op
Shri R.K. Dubey, Chairman and Managing Director, Canara Bank of India, other distinguished guests, ladies and gentlemen. I am happy to be here for the launch of Canara Bank’s credit scoring model for MSMEs. We had recently on November 29, 2013 held a workshop on credit scoring models with experts from IFC, which was fundamentally aimed at capacity building in the banking sector by imparting practical knowhow to Bankers who are expected to use it in their day-to-day op
ಮೇ 20, 2014
Banks Must build a Structure to provide Superior and Efficient Customer Service
Respected Shri Mahajan, Smt Rama Bijapurkar, member, Governing Council, Banking Standards Codes and Standards Board of India (BCSBI), Shri N Raja, CEO, BCSBI and banker colleagues. At the very outset, I thank Shri Mahajan, Chairman, BCSBI for the kind invitation to address Principal Code Compliance Officers of the BCSBI, this afternoon. I attach a great deal of value to this interaction. The day long deliberations will provide you the opportunity to Brainstorm with PC
Respected Shri Mahajan, Smt Rama Bijapurkar, member, Governing Council, Banking Standards Codes and Standards Board of India (BCSBI), Shri N Raja, CEO, BCSBI and banker colleagues. At the very outset, I thank Shri Mahajan, Chairman, BCSBI for the kind invitation to address Principal Code Compliance Officers of the BCSBI, this afternoon. I attach a great deal of value to this interaction. The day long deliberations will provide you the opportunity to Brainstorm with PC
ಏಪ್ರಿ 23, 2014
Framework for the conduct of macroprudential policy in India: experiences and perspectives
(Reproduced with permission from Financial Stability Review, April 2014 published by Banque de France)
(Reproduced with permission from Financial Stability Review, April 2014 published by Banque de France)
ಮಾರ್ಚ್ 04, 2013
India-OECD-World Bank Regional Conference on Financial Education
Presentation RBI Partnership with OECD and World Bank 1. RBI is delighted to have this opportunity to partner with two premiere international institutions - the OECD and the World Bank - on this very important conference on financial education. 2. Hearty welcome to all the delegates from around the world and across India. RBI and Financial Literacy 3. Why is the Reserve Bank - a central bank, whose core concern is maintaining price stability and supporting growth - in
Presentation RBI Partnership with OECD and World Bank 1. RBI is delighted to have this opportunity to partner with two premiere international institutions - the OECD and the World Bank - on this very important conference on financial education. 2. Hearty welcome to all the delegates from around the world and across India. RBI and Financial Literacy 3. Why is the Reserve Bank - a central bank, whose core concern is maintaining price stability and supporting growth - in
ಮೇ 31, 2023
Governance in Banks: Driving Sustainable Growth and Stability
Governor, Deputy Governor Shri M R Rao, colleagues from the RBI and distinguished directors of banks. Good morning. It is indeed an honour to be here to discuss a topic of utmost importance: Governance in Banks – Driving Sustainable Growth and Stability. You are seasoned professionals with expertise in your domains. Today, I intend to share some insights from my experience both as a practitioner as well as supervisor. 2. We had three key objectives in mind for holding
Governor, Deputy Governor Shri M R Rao, colleagues from the RBI and distinguished directors of banks. Good morning. It is indeed an honour to be here to discuss a topic of utmost importance: Governance in Banks – Driving Sustainable Growth and Stability. You are seasoned professionals with expertise in your domains. Today, I intend to share some insights from my experience both as a practitioner as well as supervisor. 2. We had three key objectives in mind for holding
ಜುಲೈ 03, 2023
Statistics Shape the Setting of Monetary Policy
Namaskar and Good Afternoon! Our eminent chief guest Professor S R S Varadhan, Frank Jay Gould Professor of Science, New York University and recipient of the Padma Vibhushan, Professor Rajeeva L. Karandikar, Chairman, National Statistical Commission – we eagerly await his keynote address -, Professor G. Sivakumar, Professor, Computer Science, Indian Institute of Technology, Bombay, whose guidance has been illuminating the voyage of CIMS from an idea to reality, distin
Namaskar and Good Afternoon! Our eminent chief guest Professor S R S Varadhan, Frank Jay Gould Professor of Science, New York University and recipient of the Padma Vibhushan, Professor Rajeeva L. Karandikar, Chairman, National Statistical Commission – we eagerly await his keynote address -, Professor G. Sivakumar, Professor, Computer Science, Indian Institute of Technology, Bombay, whose guidance has been illuminating the voyage of CIMS from an idea to reality, distin
ಜೂನ್ 30, 2023
Inaugural Address by Shri Shaktikanta Das, Governor at the 17th Statistics Day Conference organised by the Department of Statistics and Information Management, Reserve Bank of India on June 30, 2023, Mumbai
I am happy to participate in the 17th annual ‘Statistics Day Conference’ of the Reserve Bank, and also to launch the ‘Centralised Information Management System’ or CIMS, which is our next generation data warehouse. Over two decades ago, the Reserve Bank was among the pioneer central banks to set up its data warehouse. Considering the developments during the interregnum, it is natural that we migrate to a new platform with a more enriched orientation. 2. Celebration of
I am happy to participate in the 17th annual ‘Statistics Day Conference’ of the Reserve Bank, and also to launch the ‘Centralised Information Management System’ or CIMS, which is our next generation data warehouse. Over two decades ago, the Reserve Bank was among the pioneer central banks to set up its data warehouse. Considering the developments during the interregnum, it is natural that we migrate to a new platform with a more enriched orientation. 2. Celebration of
ಜುಲೈ 11, 2023
RBI & Fintech: The Road Ahead
Good Morning to all I am delighted to be present here at the India Start-up Conclave. All of you represent the best of the Indian entrepreneurial spirit and it is my privilege to be addressing this gathering. India is one of the fastest growing large economies today, our population is young and adequately skilled, the policy environment is supportive of private enterprise, our capital markets are capable of funding good business ideas, the India stack-the envy of the
Good Morning to all I am delighted to be present here at the India Start-up Conclave. All of you represent the best of the Indian entrepreneurial spirit and it is my privilege to be addressing this gathering. India is one of the fastest growing large economies today, our population is young and adequately skilled, the policy environment is supportive of private enterprise, our capital markets are capable of funding good business ideas, the India stack-the envy of the
ಫೆಬ್ರವರಿ 10, 2023
Edited Transcript of the Reserve Bank of India’s Monetary Policy Press Conference: February 8, 2023
Participants from RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri M. K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Dr. O. P. Mall – Executive Director, Reserve Bank of India Dr. Rajiv Ranjan – Executive Director, Reserve Bank of India Moderator: Shri Yogesh Dayal –
Participants from RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri M. K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Dr. O. P. Mall – Executive Director, Reserve Bank of India Dr. Rajiv Ranjan – Executive Director, Reserve Bank of India Moderator: Shri Yogesh Dayal –
ನವೆಂ 24, 2022
The Lighter Side of Making Monetary Policy
I am honoured to be invited to this year’s Conclave. In a short span of eight years, the SBI Banking and Economics Conclave has emerged as an important platform of eminence and relevance for deliberating on issues shaping the banking system and more broadly, India’s financial sector. This year, the backdrop is a daunting one. Across the world, monetary policy authorities are engaged in the most aggressive and synchronized tightening in decades. They are resolute in th
I am honoured to be invited to this year’s Conclave. In a short span of eight years, the SBI Banking and Economics Conclave has emerged as an important platform of eminence and relevance for deliberating on issues shaping the banking system and more broadly, India’s financial sector. This year, the backdrop is a daunting one. Across the world, monetary policy authorities are engaged in the most aggressive and synchronized tightening in decades. They are resolute in th
ನವೆಂ 19, 2022
Inaugural Address by Shri Shaktikanta Das, Governor, Reserve Bank of India - November 19, 2022 - at the Annual Research Conference of the Department of Economic and Policy Research, Hyderabad
I am delighted to be here with the economists of the Reserve Bank to inaugurate the annual research conference of the Department of Economic and Policy Research (DEPR). This conference is being held after a gap of more than three years. While I have been regularly interacting with many of you individually or in groups to discuss various issues, this is the first time that I am addressing all of you at one place. 2. The economics profession today faces one of its tough
I am delighted to be here with the economists of the Reserve Bank to inaugurate the annual research conference of the Department of Economic and Policy Research (DEPR). This conference is being held after a gap of more than three years. While I have been regularly interacting with many of you individually or in groups to discuss various issues, this is the first time that I am addressing all of you at one place. 2. The economics profession today faces one of its tough
ಡಿಸೆಂ 08, 2022
Capacity Building in the Financial Sector in the face of Emerging Challenges
Chairman Governing Board, NIBSCOM as well as other Governing Board Members, NIBSCOM; Director, NIBSCOM and Faculty Members of NIBSCOM; Eminent bankers, ladies and gentlemen. Good afternoon. 1. Thank you for inviting me to the Golden Jubilee celebration of this premier institution. Over the last 50 years the National Institute for Banking Studies and Corporate Management (NIBSCOM) has provided exemplary service to the banking industry by training several generations of
Chairman Governing Board, NIBSCOM as well as other Governing Board Members, NIBSCOM; Director, NIBSCOM and Faculty Members of NIBSCOM; Eminent bankers, ladies and gentlemen. Good afternoon. 1. Thank you for inviting me to the Golden Jubilee celebration of this premier institution. Over the last 50 years the National Institute for Banking Studies and Corporate Management (NIBSCOM) has provided exemplary service to the banking industry by training several generations of
ಫೆಬ್ರವರಿ 24, 2023
Edited Transcript of All India Radio’s Exclusive Interview with Deputy Governor, Shri T. Rabi Sankar: February 22, 2023
In the Spotlight programme of All India Radio (AIR), Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India gave an exclusive interview on the cross-border linkage between India’s UPI and Singapore’s PayNow digital payment systems. AIR: Today, our cross-border linkage was launched between India’s UPI and Singapore’s PayNow digital payment systems. To discuss this milestone and global financial connectivity, we have with us, Shri T. Rabi Sankar, Deputy Governor, R
In the Spotlight programme of All India Radio (AIR), Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India gave an exclusive interview on the cross-border linkage between India’s UPI and Singapore’s PayNow digital payment systems. AIR: Today, our cross-border linkage was launched between India’s UPI and Singapore’s PayNow digital payment systems. To discuss this milestone and global financial connectivity, we have with us, Shri T. Rabi Sankar, Deputy Governor, R
ಡಿಸೆಂ 27, 2022
Fintech & Regulation
1. Year-ends are usually a time for introspection and 2022 clearly offers a lot of food for thought. On the bright side, humanity seems to be finally putting the horrors of Covid behind it. The rest of the story is not so bright. The specter of war and geopolitical tension has reared its head again. We were told in the late 1990s that business cycles were dead and inflation has been conquered. After the financial crisis in advanced economies, the focus shifted to defl
1. Year-ends are usually a time for introspection and 2022 clearly offers a lot of food for thought. On the bright side, humanity seems to be finally putting the horrors of Covid behind it. The rest of the story is not so bright. The specter of war and geopolitical tension has reared its head again. We were told in the late 1990s that business cycles were dead and inflation has been conquered. After the financial crisis in advanced economies, the focus shifted to defl
ಜನವರಿ 06, 2023
South Asia’s Current Macroeconomic Challenges and Policy Priorities
I am delighted to have been invited by the IMF to join this distinguished gathering here today to discuss pathways to resilient, sustainable and inclusive growth in South Asia. I am happy to note that the conference proceedings will be anchored by the research findings and policy recommendations of the book titled “South Asia’s Path to Resilient Growth”. In the current international setting, global trade and growth outlook appear uninspiring, and policies have to be c
I am delighted to have been invited by the IMF to join this distinguished gathering here today to discuss pathways to resilient, sustainable and inclusive growth in South Asia. I am happy to note that the conference proceedings will be anchored by the research findings and policy recommendations of the book titled “South Asia’s Path to Resilient Growth”. In the current international setting, global trade and growth outlook appear uninspiring, and policies have to be c
ಮಾರ್ಚ್ 06, 2023
Address by Governor, Shri Shaktikanta Das, Reserve Bank of India - March 06, 2023 - Digital Payments Awareness Week (March 6-12, 2023) Launch of Mission ‘Har Payment Digital’, Mumbai
1. The Launching of Mission ‘Har Payment Digital’ today during the Digital Payments Awareness Week (DPAW) 2023 reinforces RBI’s commitment to deepen digital payments in the country. 2. I am happy to note that the Department of Payment and Settlement Systems (DPSS) of the RBI is celebrating its 18th anniversary (it was formed on March 7, 2005). Congratulations to team DPSS on this milestone. Over the years our payment systems have evolved and now we have multiple syste
1. The Launching of Mission ‘Har Payment Digital’ today during the Digital Payments Awareness Week (DPAW) 2023 reinforces RBI’s commitment to deepen digital payments in the country. 2. I am happy to note that the Department of Payment and Settlement Systems (DPSS) of the RBI is celebrating its 18th anniversary (it was formed on March 7, 2005). Congratulations to team DPSS on this milestone. Over the years our payment systems have evolved and now we have multiple syste
ಸೆಪ್ಟೆಂ 14, 2007
Economic Reforms and Corporate Performance in India
Motivation 1 Corporate Performance – Trends since mid 1990s End March Sales Growth PAT Growth Working Capital /Sales Debt / Sales 1995 20.5 59.2 21.7 34.1 1996 23.7 23.9 18.3 31.7 1997 10.4 -26.6 15.7 33.7 1998 7.5 -13.7 12.0 36.6 1999 6.1 -20.9 13.8 39.8 2000 11.2 14.7 11.5 37.6 2001 9.9 8.3 11.3 35.0 2002 -1.3 -17.8 7.9 35.7 2003 8.5 76.2 5.5 31.4 2004 16.0 59.8 3.9 26.4 2005 24.1 51.2 5.2 22.5 2006 16.3 31.7 11.1 20.2 2007 26.2 45.2 .. .. Note : Working Capital is
Motivation 1 Corporate Performance – Trends since mid 1990s End March Sales Growth PAT Growth Working Capital /Sales Debt / Sales 1995 20.5 59.2 21.7 34.1 1996 23.7 23.9 18.3 31.7 1997 10.4 -26.6 15.7 33.7 1998 7.5 -13.7 12.0 36.6 1999 6.1 -20.9 13.8 39.8 2000 11.2 14.7 11.5 37.6 2001 9.9 8.3 11.3 35.0 2002 -1.3 -17.8 7.9 35.7 2003 8.5 76.2 5.5 31.4 2004 16.0 59.8 3.9 26.4 2005 24.1 51.2 5.2 22.5 2006 16.3 31.7 11.1 20.2 2007 26.2 45.2 .. .. Note : Working Capital is
ಡಿಸೆಂ 04, 2000
Development and Management of Forex Markets : A Central Banking Perspective
Mr. Venkataraman, distinguished guests and friends, I am thankful to the Forex Association of India for inviting me to this Session of the 21st Asia Pacific Forex Congress. I would like to add a special word of welcome to the delegates from Asia and the Pacific regions to Delhi to participate in this Congress. For us, this is a very special occasion as India, I believe, has a lot to learn from the experience of countries in our region in the proper development and man
Mr. Venkataraman, distinguished guests and friends, I am thankful to the Forex Association of India for inviting me to this Session of the 21st Asia Pacific Forex Congress. I would like to add a special word of welcome to the delegates from Asia and the Pacific regions to Delhi to participate in this Congress. For us, this is a very special occasion as India, I believe, has a lot to learn from the experience of countries in our region in the proper development and man
ಜೂನ್ 09, 2005
Banking with Technology – The Road Ahead
Ladies and Gentlemen, I deem it a privilege to be present at this conclave being conducted by the Indian Banks’ Association, on an appropriate topic at an appropriate time and to an appropriate audience who would be the catalysts of change as banking in India is poised for greater leaps in the near future. I am sure that bankers in India are feeling the positive impact of the technological revolution in the way banking is being transformed. Banks need to be ready to t
Ladies and Gentlemen, I deem it a privilege to be present at this conclave being conducted by the Indian Banks’ Association, on an appropriate topic at an appropriate time and to an appropriate audience who would be the catalysts of change as banking in India is poised for greater leaps in the near future. I am sure that bankers in India are feeling the positive impact of the technological revolution in the way banking is being transformed. Banks need to be ready to t
ಫೆಬ್ರವರಿ 05, 1997
Conference on Disinvestment: Strategies & Issues
Inaugural address by C. Rangarajan, Governor, Reserve Bank of India at the `Conference on Disinvestment: Strategies & Issues' Organised by disinvestment commission, Delhi at Mumbai Wednesday, February 5, 1997 Mr.Ramakrishna, Mr.Mankad and friends, I am happy to be associated with this conference on Disinvestment. I believe this is part of the effort to ascertain professional opinion on the various issues posed to the Disinvestment Commission as well as to create p
Inaugural address by C. Rangarajan, Governor, Reserve Bank of India at the `Conference on Disinvestment: Strategies & Issues' Organised by disinvestment commission, Delhi at Mumbai Wednesday, February 5, 1997 Mr.Ramakrishna, Mr.Mankad and friends, I am happy to be associated with this conference on Disinvestment. I believe this is part of the effort to ascertain professional opinion on the various issues posed to the Disinvestment Commission as well as to create p
ಆಗ 29, 1997
On the conferment of schedule status and successful completion of Mahesh Bank
1. I have great pleasure in being with you this evening and participate in the function organised to declare the A.P. Mahesh Co-operative Urban Bank Ltd. as a scheduled urban co-operative bank. It is heartening to note that the A.P. Mahesh Co-operative Urban Bank Ltd. is the first urban co-operative bank in the Southern India to acquire the scheduled status. The successive Boards of Management deserve complements for making significant strides in building up a strong
1. I have great pleasure in being with you this evening and participate in the function organised to declare the A.P. Mahesh Co-operative Urban Bank Ltd. as a scheduled urban co-operative bank. It is heartening to note that the A.P. Mahesh Co-operative Urban Bank Ltd. is the first urban co-operative bank in the Southern India to acquire the scheduled status. The successive Boards of Management deserve complements for making significant strides in building up a strong
ನವೆಂ 07, 2014
Fortifying Cooperatives – Efforts to strengthen the Short Term Cooperative Credit Structure
Ladies and gentlemen! 1. I am very happy to be here today to share with you the present status of co-operatives in general and the role of rural cooperative banks as an institution, in particular. I feel honoured to be here with you all and inaugurate this Orientation Programme on Investment in Government Securities. Let me, at the outset, convey my thanks to the Regional Director for Maharashtra and Goa for inviting me to speak on this important occasion. 2. The thre
Ladies and gentlemen! 1. I am very happy to be here today to share with you the present status of co-operatives in general and the role of rural cooperative banks as an institution, in particular. I feel honoured to be here with you all and inaugurate this Orientation Programme on Investment in Government Securities. Let me, at the outset, convey my thanks to the Regional Director for Maharashtra and Goa for inviting me to speak on this important occasion. 2. The thre
ಏಪ್ರಿ 08, 2005
A Synoptic View of the Twelfth Finance Commission’s Recommendations
I am indeed very happy to be in the midst of familiar faces and familiar surroundings. This is perhaps the first public occasion on which I am commenting on the recommendations of the Twelfth Finance Commission. As such, this meeting has some special significance at least to me. I congratulate the Reserve Bank of India in organizing this meeting of Finance Secretaries so that the full implications of the various recommendations of the Twelfth Finance Commission can be
I am indeed very happy to be in the midst of familiar faces and familiar surroundings. This is perhaps the first public occasion on which I am commenting on the recommendations of the Twelfth Finance Commission. As such, this meeting has some special significance at least to me. I congratulate the Reserve Bank of India in organizing this meeting of Finance Secretaries so that the full implications of the various recommendations of the Twelfth Finance Commission can be
ಫೆಬ್ರವರಿ 09, 2000
Agenda for Banking in the Millenium
Thank you Dr. Subrahmanyam,Mr Bhide, Chairman, Deputy Governors, Chairmen of Banking Industry, Faculty of NIBM and distinguished guests, I am very glad to be here. This is a very important occasion because, as Dr. Subrahmanyam pointed out, this kind of Conference is taking place after nearly 10 years. And it is taking place at an opportune moment when we are beginning the new Millenium. We have ended a century and your discussions would give direction to the banking i
Thank you Dr. Subrahmanyam,Mr Bhide, Chairman, Deputy Governors, Chairmen of Banking Industry, Faculty of NIBM and distinguished guests, I am very glad to be here. This is a very important occasion because, as Dr. Subrahmanyam pointed out, this kind of Conference is taking place after nearly 10 years. And it is taking place at an opportune moment when we are beginning the new Millenium. We have ended a century and your discussions would give direction to the banking i
ಅಕ್ಟೋ 03, 1997
Governor's address at the Special convocation to confer the honorary title Fellow of the Indian Institute of Management Ahmedabad
It gives me immense pleasure to be on the campus of the Indian Institute of Management. I accept in all humility the Award of the title 'Fellow of the Indian Institute of Management', Ahmedabad. What can be a greater honour than the recognition by one's own peers and family. I look back with immense satisfaction the years that I spent on the campus here. Those fourteen years marked the most productive period of my academic life. It is no mean task to have created here
It gives me immense pleasure to be on the campus of the Indian Institute of Management. I accept in all humility the Award of the title 'Fellow of the Indian Institute of Management', Ahmedabad. What can be a greater honour than the recognition by one's own peers and family. I look back with immense satisfaction the years that I spent on the campus here. Those fourteen years marked the most productive period of my academic life. It is no mean task to have created here
ಆಗ 30, 1997
Inauguration of Andhra Bank Credit Card Transaction Automation Project
1. It gives me a great pleasure to be in your midst this morning and I am delighted to participate in this function which marks another important milestone in the development of Andhra Bank. 2. I am indeed heartened to note the progress that the Andhra Bank has made in the last few years and more particularly in the year 1996-97 and as Mr.Narayanan pointed out almost all parameters of operational efficiency have improved during 1996-97. Mr. Narayanan, Mr.Ganiga and th
1. It gives me a great pleasure to be in your midst this morning and I am delighted to participate in this function which marks another important milestone in the development of Andhra Bank. 2. I am indeed heartened to note the progress that the Andhra Bank has made in the last few years and more particularly in the year 1996-97 and as Mr.Narayanan pointed out almost all parameters of operational efficiency have improved during 1996-97. Mr. Narayanan, Mr.Ganiga and th
ಸೆಪ್ಟೆಂ 29, 2009
Global Crisis: Genesis, Challenges and Opportunities Unleashed
Mr. Ajith Nivard Cabraal, Governor, Central Bank of Sri Lanka; Mr. Ajantha Madurapperuma, President, Association of Professional Bankers – Sri Lanka; Distinguished guests and members of the Association of Professional Bankers, Ladies and Gentlemen: It is a great pleasure and privilege for me to be here today for this 21st Anniversary Convention of the Association of Professional Bankers of Sri Lanka. At the outset, I would like to thank Mr. Ajantha Madurapperuma, the
Mr. Ajith Nivard Cabraal, Governor, Central Bank of Sri Lanka; Mr. Ajantha Madurapperuma, President, Association of Professional Bankers – Sri Lanka; Distinguished guests and members of the Association of Professional Bankers, Ladies and Gentlemen: It is a great pleasure and privilege for me to be here today for this 21st Anniversary Convention of the Association of Professional Bankers of Sri Lanka. At the outset, I would like to thank Mr. Ajantha Madurapperuma, the
ನವೆಂ 03, 2009
Philosophy and practice of financial sector regulation – Space for unorthodoxy
It is a privilege to be invited to share my thoughts at this conference. The contribution of FSA in setting the terms of the debate in the aftermath of the crisis has been very significant and crucial. The clarity, conviction and clinical sharpness of arguments one encounters while reading the Turner review ask of us a very fundamental question – how could the world not have expected this crisis? How could the policy regimes world over, barring a few exceptions, faile
It is a privilege to be invited to share my thoughts at this conference. The contribution of FSA in setting the terms of the debate in the aftermath of the crisis has been very significant and crucial. The clarity, conviction and clinical sharpness of arguments one encounters while reading the Turner review ask of us a very fundamental question – how could the world not have expected this crisis? How could the policy regimes world over, barring a few exceptions, faile
ಅಕ್ಟೋ 16, 2009
Learning from Crises
Ladies and Gentlemen, The late John Kenneth Galbraith, Harvard Economics Professor Emeritus, attributed the longevity of his book The Great Crash 1929 – published in 1955 and never since out of print – to the tendency of history to threaten a repeat. "Each time it has been about to pass from bookstores," he wrote in a later foreword, "another speculative episode – another bubble or the ensuing misfortune – has stirred interest in the history of this, the great modern
Ladies and Gentlemen, The late John Kenneth Galbraith, Harvard Economics Professor Emeritus, attributed the longevity of his book The Great Crash 1929 – published in 1955 and never since out of print – to the tendency of history to threaten a repeat. "Each time it has been about to pass from bookstores," he wrote in a later foreword, "another speculative episode – another bubble or the ensuing misfortune – has stirred interest in the history of this, the great modern
ನವೆಂ 12, 2009
Global Financial Crisis and Monetary Policy Response in India
I thank ICRIER and InWEnt for giving me this opportunity to speak to you this morning. In my talk, I will try to address the following set of questions: How and why was India impacted by the global financial crisis? How did monetary policy respond to the crisis? What was the impact of the policy on the Reserve Bank’s balance sheet? How did monetary transmission work? I will conclude by highlighting the challenges of exit from monetary easing. The subprime crisis that
I thank ICRIER and InWEnt for giving me this opportunity to speak to you this morning. In my talk, I will try to address the following set of questions: How and why was India impacted by the global financial crisis? How did monetary policy respond to the crisis? What was the impact of the policy on the Reserve Bank’s balance sheet? How did monetary transmission work? I will conclude by highlighting the challenges of exit from monetary easing. The subprime crisis that
ಅಕ್ಟೋ 30, 2009
Changing Dynamics of Legal Risks in Financial Sector - Shyamala Gopinath, Deputy Governor
It gives me great pleasure to be amidst you all today to inaugurate this Symposium. 1. At the outset, I may say that this Symposium on “Changing Dynamics of Legal Risks in Financial Sector” could not have been organized at a more appropriate time than now. The recent global financial crisis has brought to light various risks. It has to a great extent blurred the distinction between operational risks and legal risks. As they say, each crisis opens up opportunities for
It gives me great pleasure to be amidst you all today to inaugurate this Symposium. 1. At the outset, I may say that this Symposium on “Changing Dynamics of Legal Risks in Financial Sector” could not have been organized at a more appropriate time than now. The recent global financial crisis has brought to light various risks. It has to a great extent blurred the distinction between operational risks and legal risks. As they say, each crisis opens up opportunities for
ನವೆಂ 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
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
ನವೆಂ 10, 2009
Financial Crisis and Beyond
Let me first take this opportunity to welcome Deputy Governor Dr. Delun and all members of the Chinese delegation to India. 2. I am very pleased to be present here today to inaugurate the third India China Finance Conference, 2009. The impact of the crisis on countries like India and China has reinforced the global heterogeneity in terms of the structure of financial systems. Both India and China are actively involved in bringing this heterogeneity to the table during
Let me first take this opportunity to welcome Deputy Governor Dr. Delun and all members of the Chinese delegation to India. 2. I am very pleased to be present here today to inaugurate the third India China Finance Conference, 2009. The impact of the crisis on countries like India and China has reinforced the global heterogeneity in terms of the structure of financial systems. Both India and China are actively involved in bringing this heterogeneity to the table during
ಅಕ್ಟೋ 16, 2007
India at 60 in a Changing World: Next 20 Years
Mr. Chairman, distinguished speakers and friends On behalf of the Reserve Bank of India (RBI) and on my own behalf, I would like to express our deep appreciation to LSE and, in particular, to Mr. Howard Davies, the Director, for his initiatives in establishing the India Observatory (IO). RBI is doubly privileged to be associated with the IO, as a partner, since it is in honour of Dr. I.G. Patel, one of my distinguished predecessors, and also because the economic polic
Mr. Chairman, distinguished speakers and friends On behalf of the Reserve Bank of India (RBI) and on my own behalf, I would like to express our deep appreciation to LSE and, in particular, to Mr. Howard Davies, the Director, for his initiatives in establishing the India Observatory (IO). RBI is doubly privileged to be associated with the IO, as a partner, since it is in honour of Dr. I.G. Patel, one of my distinguished predecessors, and also because the economic polic
ಅಕ್ಟೋ 07, 2017
Edited Transcript of Reserve Bank of India’s Fourth Bi-Monthly Policy Press Conference
October 4, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. The Monetary Policy Committee reviewed currently evolving macroeconomic and financial conditions and decided to keep the policy rate unchanged at 6%, while maintaining a neutral monetary policy stance. Th
October 4, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. The Monetary Policy Committee reviewed currently evolving macroeconomic and financial conditions and decided to keep the policy rate unchanged at 6%, while maintaining a neutral monetary policy stance. Th
ಡಿಸೆಂ 08, 2016
Edited Transcript of Reserve Bank of India’s Fifth Bi-Monthly Post Policy Conference Call with Media
Participants from RBI: Dr. Urjit R. Patel – Governor, Reserve Bank of India Mr. R. Gandhi – Deputy Governor, Reserve Bank of India Mr. S. S. Mundra – Deputy Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Executive Director, Reserve Bank of India Moderator: Good Day, Ladies and Gentlemen, and Welcome to the Teleconference with Media arranged by the Reserve Bank of India after the announcement of th
Participants from RBI: Dr. Urjit R. Patel – Governor, Reserve Bank of India Mr. R. Gandhi – Deputy Governor, Reserve Bank of India Mr. S. S. Mundra – Deputy Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Executive Director, Reserve Bank of India Moderator: Good Day, Ladies and Gentlemen, and Welcome to the Teleconference with Media arranged by the Reserve Bank of India after the announcement of th
ಜೂನ್ 09, 2018
Edited Transcript of Reserve Bank of India’s Second Bi-Monthly Policy Press Conference
June 06, 2018 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. Over the last three days the Monetary Policy Committee carefully reviewed evolving global and domestic macroeconomic developments. We noted that global economic activity and trade has continued to expand, t
June 06, 2018 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. Over the last three days the Monetary Policy Committee carefully reviewed evolving global and domestic macroeconomic developments. We noted that global economic activity and trade has continued to expand, t
ಫೆಬ್ರವರಿ 10, 2017
Edited Transcript of Reserve Bank of India’s 6th Bi-Monthly Post Policy Conference Call with Media
February 08, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor, Reserve Bank of India Mr. R. Gandhi – Deputy Governor, Reserve Bank of India Mr. S. S. Mundra – Deputy Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Dr. Viral Acharya – Deputy Governor, Reserve Bank of India Dr. M. D. Patra – Executive Director, Reserve Bank of India Moderator: Good Day, Ladies and Gentlemen, and Welcome to the Teleconference with
February 08, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor, Reserve Bank of India Mr. R. Gandhi – Deputy Governor, Reserve Bank of India Mr. S. S. Mundra – Deputy Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Dr. Viral Acharya – Deputy Governor, Reserve Bank of India Dr. M. D. Patra – Executive Director, Reserve Bank of India Moderator: Good Day, Ladies and Gentlemen, and Welcome to the Teleconference with
ಏಪ್ರಿ 07, 2017
Edited Transcript of Reserve Bank of India’s First Bi-Monthly Post Policy Press Conference
April 06, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. S. S. Mundra – Deputy Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. Thank you for coming to the First Bi-Monthly of the new fiscal year. We take this opportunity to welcome Mr. B P Kanungo to his first post monetary policy press conferenc
April 06, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. S. S. Mundra – Deputy Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. Thank you for coming to the First Bi-Monthly of the new fiscal year. We take this opportunity to welcome Mr. B P Kanungo to his first post monetary policy press conferenc
ಅಕ್ಟೋ 09, 2018
Edited Transcript of Reserve Bank of India’s Fourth Bi-monthly Monetary Policy Press Conference
October 05, 2018 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Mr. M. K. Jain – Deputy Governor Dr. Michael D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. Today, after two days of deliberations, the Monetary Policy Committee, by a 4 to 2 vote, decided to keep the policy repo rate unchanged and it decided to change the
October 05, 2018 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Mr. M. K. Jain – Deputy Governor Dr. Michael D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. Today, after two days of deliberations, the Monetary Policy Committee, by a 4 to 2 vote, decided to keep the policy repo rate unchanged and it decided to change the
ಏಪ್ರಿ 09, 2018
Edited Transcript of Reserve Bank of India’s First Bi-Monthly Policy Press Conference
April 05, 2018 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone, for the First Post-Monetary Policy Press Conference of the new fiscal year. Over the past two days, the Monetary Policy Committee reviewed evolving global and domestic macroeconomic conditions and decided
April 05, 2018 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone, for the First Post-Monetary Policy Press Conference of the new fiscal year. Over the past two days, the Monetary Policy Committee reviewed evolving global and domestic macroeconomic conditions and decided
ಆಗ 03, 2017
Edited Transcript of Reserve Bank of India’s Third Bi-Monthly Policy Press Conference
August 2, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. The Monetary Policy Committee took note of an important change in the base line inflation trajectory with respect to the June 2017 statement. This trajectory now incorporates the first-round impact of the
August 2, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. The Monetary Policy Committee took note of an important change in the base line inflation trajectory with respect to the June 2017 statement. This trajectory now incorporates the first-round impact of the
ಡಿಸೆಂ 08, 2017
Edited Transcript of Reserve Bank of India’s Fifth Bi-Monthly Policy Press Conference
December 6, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone and thank you for coming to the Fifth Bi-Monthly Policy of this Fiscal Year. As you know, today, the Monetary Policy Committee decided to keep the policy repo rate under the liquidity adjustment facility
December 6, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone and thank you for coming to the Fifth Bi-Monthly Policy of this Fiscal Year. As you know, today, the Monetary Policy Committee decided to keep the policy repo rate under the liquidity adjustment facility
ಜನವರಿ 04, 2010
Financial Markets – Some Regulatory Issues and Recent Developments
1. It is my pleasure to be here today again, at the FIMMDA-PDAI annual conference as we enter into a new decade. The last decade in the Indian financial sector has been a forward continuum marked by significant developments. It was in 1999 that guidelines for interest rate swaps and forward rate agreements were first introduced. 1999 was also the year when FEMA was enacted and since then it has been a process of measured opening up of the capital account. That was als
1. It is my pleasure to be here today again, at the FIMMDA-PDAI annual conference as we enter into a new decade. The last decade in the Indian financial sector has been a forward continuum marked by significant developments. It was in 1999 that guidelines for interest rate swaps and forward rate agreements were first introduced. 1999 was also the year when FEMA was enacted and since then it has been a process of measured opening up of the capital account. That was als
ಏಪ್ರಿ 08, 2000
Credit Rating : Changing Perspectives
Respected Vice-Chancellor Dr. D.C. Reddy, Professor Kishan Rao, and, friends, I am thankful to my large circle of friends who organised this gathering, and gave me an opportunity to be at home in Osmania University today. My association with the University is forty years old, a long time indeed, and in several capacities, as a research scholar, lecturer and Visiting Professor. Dr. Nagaraj was my senior colleague and we had many things in common, including Bellary-conn
Respected Vice-Chancellor Dr. D.C. Reddy, Professor Kishan Rao, and, friends, I am thankful to my large circle of friends who organised this gathering, and gave me an opportunity to be at home in Osmania University today. My association with the University is forty years old, a long time indeed, and in several capacities, as a research scholar, lecturer and Visiting Professor. Dr. Nagaraj was my senior colleague and we had many things in common, including Bellary-conn
ಆಗ 14, 2004
Debt Markets in India - Issues and Prospects
I am very happy to be amongst you today to deliver the keynote address at the 3 rd Annual Citibank - Fitch Debt Markets Conference. I understand that the response to the previous Citibank-Fitch debt markets conferences has been very encouraging, which has motivated the organisers to convert this into an annual event. This kind of interaction among investors and issuers provides an opportunity for mutual discussions in the interest of fostering further market developme
I am very happy to be amongst you today to deliver the keynote address at the 3 rd Annual Citibank - Fitch Debt Markets Conference. I understand that the response to the previous Citibank-Fitch debt markets conferences has been very encouraging, which has motivated the organisers to convert this into an annual event. This kind of interaction among investors and issuers provides an opportunity for mutual discussions in the interest of fostering further market developme
ಫೆಬ್ರವರಿ 20, 1995
Capital Market Innovations: Challenges and Opportunities
I. Introduction II. The Process of Financial Innovation III. The Benefits of Capital Market Innovation IV. Challenges Facing Monetary Authorities V. The Relevance for India It is a great honour to be invited to deliver the third L.K. Jha Memorial Lecture – especially to follow in such distinguished footsteps as those of Robin Leigh-Pemberton, former Governor of the Bank of England, and Jacob Frenkel, Governor of the Bank of Israel. Having served under both gentlemen a
I. Introduction II. The Process of Financial Innovation III. The Benefits of Capital Market Innovation IV. Challenges Facing Monetary Authorities V. The Relevance for India It is a great honour to be invited to deliver the third L.K. Jha Memorial Lecture – especially to follow in such distinguished footsteps as those of Robin Leigh-Pemberton, former Governor of the Bank of England, and Jacob Frenkel, Governor of the Bank of Israel. Having served under both gentlemen a
ಜೂನ್ 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
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
ಜೂನ್ 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
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
ಜೂನ್ 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
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
ಜೂನ್ 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
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
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