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ಸೆಪ್ಟೆಂ 09, 2010
Banking Transactions in the Next Decade: Faster, Cheaper and Easier
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
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
ಮಾರ್ಚ್ 30, 2012
The Challenge of Globalization Some Reflections from the Reserve Bank Perspective
Thank you for inviting me to address the convocation of IIM, Bangalore. It is an honour to which I attach a lot of value. 2. First of all, heartiest congratulations to all the graduating students. Today marks a milestone in your lives. You will be leaving college with a degree in management, and not just any degree, but a degree from one of the most elite management schools in the country. You should be proud of what you have accomplished. Managing Change 3. As I see
Thank you for inviting me to address the convocation of IIM, Bangalore. It is an honour to which I attach a lot of value. 2. First of all, heartiest congratulations to all the graduating students. Today marks a milestone in your lives. You will be leaving college with a degree in management, and not just any degree, but a degree from one of the most elite management schools in the country. You should be proud of what you have accomplished. Managing Change 3. As I see
ಜುಲೈ 01, 2006
Banks and Service to the Common Person
Chairperson of the Board Smt. Udeshi, Chairman of the IBA Shri Shetty, Deputy Governor Smt. Usha Thorat, distinguished bankers and friends, It gives me immense pleasure and satisfaction to be here to release the 'Code of Bank’s Commitment to Customers'. The Code signifies the first formal collaborative effort by the Reserve Bank of India, the banks and the newly set up Banking Codes and Standards Board of India (BCSBI) to provide a framework for a minimum standard of
Chairperson of the Board Smt. Udeshi, Chairman of the IBA Shri Shetty, Deputy Governor Smt. Usha Thorat, distinguished bankers and friends, It gives me immense pleasure and satisfaction to be here to release the 'Code of Bank’s Commitment to Customers'. The Code signifies the first formal collaborative effort by the Reserve Bank of India, the banks and the newly set up Banking Codes and Standards Board of India (BCSBI) to provide a framework for a minimum standard of
ಸೆಪ್ಟೆಂ 07, 2006
Credit Counselling : An Indian Perspective
Mr. Chairman, distinguished guests and friends, I am thankful to Mr. Balachandran for providing this opportunity to be with this eminent gathering assembled for a noble cause. Bank of India has been among the banks known to be a pioneer in several areas of commercial banking. In this context, the initiative by the bank to establish credit counselling centers on a pilot basis highlights the pro-active role being played by our banks. In fact, a major reason for my agree
Mr. Chairman, distinguished guests and friends, I am thankful to Mr. Balachandran for providing this opportunity to be with this eminent gathering assembled for a noble cause. Bank of India has been among the banks known to be a pioneer in several areas of commercial banking. In this context, the initiative by the bank to establish credit counselling centers on a pilot basis highlights the pro-active role being played by our banks. In fact, a major reason for my agree
ಸೆಪ್ಟೆಂ 09, 2010
Preparing Indian Banks for Global Competitiveness : Strategic and Policy Perspectives
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
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
ಸೆಪ್ಟೆಂ 18, 2006
Asian Perspective on Growth: Outlook for India
Distinguished friends, I am delighted to be here at the G30's International Banking Seminar hosted by the Monetary Authority of Singapore. Indeed, it is an honour and privilege to be amidst the global Gurus of financial world. I divide my humble presentation into five parts: namely the contours of Indian economy; the major challenges facing the Indian economy; the impact of global imbalances on India; some not easily quantifiable strengths of India and; India's growin
Distinguished friends, I am delighted to be here at the G30's International Banking Seminar hosted by the Monetary Authority of Singapore. Indeed, it is an honour and privilege to be amidst the global Gurus of financial world. I divide my humble presentation into five parts: namely the contours of Indian economy; the major challenges facing the Indian economy; the impact of global imbalances on India; some not easily quantifiable strengths of India and; India's growin
ಫೆಬ್ರವರಿ 01, 2013
Edited Transcript of Governor's Post-Policy Press Conference Call with Media
“RBI Post-Policy Conference Call for the Media” January 29, 2013 Participants from Reserve Bank of India: Dr. D. Subbarao – Governor, RBI Dr. K.C. Chakrabarty – Deputy Governor, RBI Mr. Anand Sinha – Deputy Governor, RBI Mr. H R Khan - Deputy Governor, RBI Dr. Urjit Patel - Deputy Governor, RBI Mr. Deepak Mohanty – Executive Director, RBI MODERATOR : MS. ALPANA KILLAWALA – CHIEF GENERAL MANAGER, DEPARTMENT OF COMMUNICATION , RBI Moderator Ladies and gentlemen, good da
“RBI Post-Policy Conference Call for the Media” January 29, 2013 Participants from Reserve Bank of India: Dr. D. Subbarao – Governor, RBI Dr. K.C. Chakrabarty – Deputy Governor, RBI Mr. Anand Sinha – Deputy Governor, RBI Mr. H R Khan - Deputy Governor, RBI Dr. Urjit Patel - Deputy Governor, RBI Mr. Deepak Mohanty – Executive Director, RBI MODERATOR : MS. ALPANA KILLAWALA – CHIEF GENERAL MANAGER, DEPARTMENT OF COMMUNICATION , RBI Moderator Ladies and gentlemen, good da
ಅಕ್ಟೋ 30, 2013
Edited Transcript of Reserve Bank of India's Post Policy Conference Call with Media
Speakers Dr. Raghuram Rajan – Governor Dr. K.C. Chakrabarty – Deputy governor Shri Anand Sinha – Deputy Governor Shri H.R. Khan – Deputy Governor Dr. Urjit Patel – Deputy Governor Moderator: Ms. Alpana Killawala – Principal Chief General Manager, Department of Communication Moderator: Ladies and Gentlemen, Good Day and Welcome to the Reserve Bank of India Post Policy Conference Call for Media. As a reminder, all participants’ lines will be in the listen-only mode, and
Speakers Dr. Raghuram Rajan – Governor Dr. K.C. Chakrabarty – Deputy governor Shri Anand Sinha – Deputy Governor Shri H.R. Khan – Deputy Governor Dr. Urjit Patel – Deputy Governor Moderator: Ms. Alpana Killawala – Principal Chief General Manager, Department of Communication Moderator: Ladies and Gentlemen, Good Day and Welcome to the Reserve Bank of India Post Policy Conference Call for Media. As a reminder, all participants’ lines will be in the listen-only mode, and
ಸೆಪ್ಟೆಂ 16, 2019
Interview with CNBC TV 18 on September 16, 2019 – Shri Shaktikanta Das, Governor, Reserve Bank of India
Edited excerpts from the interview. We are meeting at a time when suddenly the global environment is charged up with the explosion at the Aramco oil refinery. Does this disturb your view of the space that monetary policy has? Before commenting specifically on monetary policy, I would like to take a little longer to analyze various consequences and how the situation is playing out in the next few days because this incident happened just a day or two ago. So we should a
Edited excerpts from the interview. We are meeting at a time when suddenly the global environment is charged up with the explosion at the Aramco oil refinery. Does this disturb your view of the space that monetary policy has? Before commenting specifically on monetary policy, I would like to take a little longer to analyze various consequences and how the situation is playing out in the next few days because this incident happened just a day or two ago. So we should a
ಸೆಪ್ಟೆಂ 17, 2019
Interview with ET Now on September 17, 2019 – Shri Shaktikanta Das, Governor, Reserve Bank of India
Interviewer: Mythili Bhusnurmath In the last monetary policy review, the MPC and the RBI reduced the GDP estimate marginally to 6.9%. Since then, we have seen that the numbers for the last quarter came in much lower. In hindsight, how would you look at GDP now? The first quarter number came as a surprise. In fact, almost everybody had projected more than that. We had projected 5.8% for Q1 and all others had projected around 5.5%. So, the Q1 GDP number came as a big su
Interviewer: Mythili Bhusnurmath In the last monetary policy review, the MPC and the RBI reduced the GDP estimate marginally to 6.9%. Since then, we have seen that the numbers for the last quarter came in much lower. In hindsight, how would you look at GDP now? The first quarter number came as a surprise. In fact, almost everybody had projected more than that. We had projected 5.8% for Q1 and all others had projected around 5.5%. So, the Q1 GDP number came as a big su
ಡಿಸೆಂ 03, 2014
Edited Transcript of Reserve Bank of India's Post Policy Conference Call with Media
Participants from RBI: Dr. Raghuram G. Rajan – Governor, Shri H. R. Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri S. S. Mundra – Deputy Governor Dr. Michael D. Patra – Executive Director Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Participants, thank you for standing by. I now hand the conference over to Ms. Alpana Killawala. Thank you and over to you Ma’am. Alpana Killawala: Thank you, Shyma and welcome once again t
Participants from RBI: Dr. Raghuram G. Rajan – Governor, Shri H. R. Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri S. S. Mundra – Deputy Governor Dr. Michael D. Patra – Executive Director Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Participants, thank you for standing by. I now hand the conference over to Ms. Alpana Killawala. Thank you and over to you Ma’am. Alpana Killawala: Thank you, Shyma and welcome once again t
ಡಿಸೆಂ 03, 2015
Edited Transcript of Reserve Bank of India’s Post Policy Conference Call with Researchers and Analysts
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H.R.Khan – Deputy GovernorDr. Urjit R. Patel – Deputy Governor Dr. Michael D. Patra – Executive Director Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Good Day, Ladies and Gentlemen and Welcome to the Fifth Bi-Monthly Monetary Policy Governor’s Teleconference with Research and Analyst. As a reminder, all participant lines will be in the listen-only mode. There will be an opport
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H.R.Khan – Deputy GovernorDr. Urjit R. Patel – Deputy Governor Dr. Michael D. Patra – Executive Director Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Good Day, Ladies and Gentlemen and Welcome to the Fifth Bi-Monthly Monetary Policy Governor’s Teleconference with Research and Analyst. As a reminder, all participant lines will be in the listen-only mode. There will be an opport
ಜುಲೈ 25, 2022
Governor’s Fire side Chat Session at the Banking Beyond Tomorrow: The Annual Banking Conclave of Bank of Baroda in Mumbai on July 22, 2022 (Edited excerpts)
Sanjiv Chadha, Managing Director, Bank of Baroda Thank you very much, Governor once again for that tour de force. We are really reassured about the fact that in terms of the external sector, despite what is happening in the neighbouring countries, India is in a different and very strong place. Also, I think the areas you covered in terms of what banks need to focus on, I am sure that will define the agenda for not only this conference but also for the next few years.
Sanjiv Chadha, Managing Director, Bank of Baroda Thank you very much, Governor once again for that tour de force. We are really reassured about the fact that in terms of the external sector, despite what is happening in the neighbouring countries, India is in a different and very strong place. Also, I think the areas you covered in terms of what banks need to focus on, I am sure that will define the agenda for not only this conference but also for the next few years.
ಮಾರ್ಚ್ 05, 2020
Interview with Bloomberg Quint – Shri Shaktikanta Das, Governor, Reserve Bank of India on March 5, 2020
Sir I will start with the big picture question. You are back in the day before the RBI became a flexible inflation targeting central bank. Governors would often lay down their priorities in the annual statement which would give us a sense of the current context. Let me go back to that practice and ask you what your current priorities at the institution are given the economic situation: See for the central bank, especially a central bank like the RBI and its multifario
Sir I will start with the big picture question. You are back in the day before the RBI became a flexible inflation targeting central bank. Governors would often lay down their priorities in the annual statement which would give us a sense of the current context. Let me go back to that practice and ask you what your current priorities at the institution are given the economic situation: See for the central bank, especially a central bank like the RBI and its multifario
ಮೇ 04, 2020
Full transcript of RBI Governor’s interview to Cogencis, Tuesday, April 28, 2020
In his first media interaction since the nationwide lockdown took effect to contain the spread of COVID-19, Reserve Bank of India Governor Shaktikanta Das told Cogencis that the central bank is yet to take a view on budget deficit monetisation or private placement of bonds. Below is the full transcript of the Governor's interview to Cogencis: (Note – Some elements of the transcript may be used with an attribution to Cogencis) Q. RBI has emerged as the first line of de
In his first media interaction since the nationwide lockdown took effect to contain the spread of COVID-19, Reserve Bank of India Governor Shaktikanta Das told Cogencis that the central bank is yet to take a view on budget deficit monetisation or private placement of bonds. Below is the full transcript of the Governor's interview to Cogencis: (Note – Some elements of the transcript may be used with an attribution to Cogencis) Q. RBI has emerged as the first line of de
ಫೆಬ್ರವರಿ 01, 2013
Regulation of Shadow Banking – Issues and Challenges
Mr. Hiranandani, President, Indian Merchants’ Chamber (IMC), Mr. Thakkar, Co-Chairman, Finance and Banking Committee, IMC, Mr. TT Srinivasaraghavan, Managing Director, Sundaram Finance Ltd., Mr. K V Srinivasan, CEO, Reliance Commercial Finance, Ms. Usha Thorat, my erstwhile colleague in the Reserve Bank, currently the Director, CAFRAL and the Chairperson of the Working Group that examined the issues and concerns in the Non Banking Financial Companies (NBFC) sector, an
Mr. Hiranandani, President, Indian Merchants’ Chamber (IMC), Mr. Thakkar, Co-Chairman, Finance and Banking Committee, IMC, Mr. TT Srinivasaraghavan, Managing Director, Sundaram Finance Ltd., Mr. K V Srinivasan, CEO, Reliance Commercial Finance, Ms. Usha Thorat, my erstwhile colleague in the Reserve Bank, currently the Director, CAFRAL and the Chairperson of the Working Group that examined the issues and concerns in the Non Banking Financial Companies (NBFC) sector, an
ಫೆಬ್ರವರಿ 17, 2012
Indian Banking Sector: Towards the Next Orbit
Dr. Pritam Singh, Director General, International Management Institute, Dr. Ahindra Chakrabarti, Programme Director, participants from Reserve Bank of India and the commercial banks. It gives me great pleasure to be before you today as you embark on this journey of learning here at IMI and later across Paris, Berlin and Milan to imbibe the culture of these countries and the best practices. The Advanced Management Programme is the ninth in the series and includes study
Dr. Pritam Singh, Director General, International Management Institute, Dr. Ahindra Chakrabarti, Programme Director, participants from Reserve Bank of India and the commercial banks. It gives me great pleasure to be before you today as you embark on this journey of learning here at IMI and later across Paris, Berlin and Milan to imbibe the culture of these countries and the best practices. The Advanced Management Programme is the ninth in the series and includes study
ಸೆಪ್ಟೆಂ 27, 2011
Monetary Policy Dilemmas: Some RBI Perspectives
I value this opportunity of speaking at the Stern School to an academic community interested in central bank issues. Over the last decade, the profile of central banks has gone up. First, we had the Great Moderation - a period of extraordinary benign macroeconomic environment globally, characterized by steady growth in advanced economies and accelerated growth in emerging economies, and low and stable inflation all around. Central banks took credit for this, believed
I value this opportunity of speaking at the Stern School to an academic community interested in central bank issues. Over the last decade, the profile of central banks has gone up. First, we had the Great Moderation - a period of extraordinary benign macroeconomic environment globally, characterized by steady growth in advanced economies and accelerated growth in emerging economies, and low and stable inflation all around. Central banks took credit for this, believed
ಸೆಪ್ಟೆಂ 05, 2012
Revised Guidelines on Priority Sector Lending: Rationale and Logic
Shri Alok K. Misra, Chairman, IBA and CMD, Bank of India; Shri Pratip Chaudhuri, Chairman, State Bank of India; CMDs/ CEOs of other banks; other senior members of the banking fraternity, delegates to the conference, members of the print and electronic media, other distinguished guests, ladies and gentlemen. It is, indeed, a matter of great pleasure for me to deliver this special address at the annual FICCI – IBA Global Banking Conference - FIBAC 2012. FIBAC has become
Shri Alok K. Misra, Chairman, IBA and CMD, Bank of India; Shri Pratip Chaudhuri, Chairman, State Bank of India; CMDs/ CEOs of other banks; other senior members of the banking fraternity, delegates to the conference, members of the print and electronic media, other distinguished guests, ladies and gentlemen. It is, indeed, a matter of great pleasure for me to deliver this special address at the annual FICCI – IBA Global Banking Conference - FIBAC 2012. FIBAC has become
ಫೆಬ್ರವರಿ 11, 2013
Banking as a Fundamental Right of People!
Com. Rajen Nagar, President and Com. C H Venkatachalam, General Secretary of All India Bank Employees Association (AIBEA), Shri P. Sainath, Rural Affairs Editor, The Hindu, Prof. Victor Louis Anthuvan, other office bearers of the AIBEA, Office bearers and delegates from other trade union bodies, guest delegates from abroad and dear friends. I am extremely happy to be here today in Kochi in the “God’s Own Country” to address this gathering of fellow bankers at this Nat
Com. Rajen Nagar, President and Com. C H Venkatachalam, General Secretary of All India Bank Employees Association (AIBEA), Shri P. Sainath, Rural Affairs Editor, The Hindu, Prof. Victor Louis Anthuvan, other office bearers of the AIBEA, Office bearers and delegates from other trade union bodies, guest delegates from abroad and dear friends. I am extremely happy to be here today in Kochi in the “God’s Own Country” to address this gathering of fellow bankers at this Nat
ಸೆಪ್ಟೆಂ 28, 2011
Indian Economy: Progress and Prospects
It is an honour and privilege for me to be speaking at Harvard to such a distinguished audience. I thank Professor Benjamin Friedman and Professor Tarun Khanna for this opportunity. I will be speaking on the Indian Economy. India is home to 1.21 billion people, which is about 17.4 per cent of the global population. However, it accounts for only 2.4 per cent of world GDP in US dollar terms and 5.5 per cent in purchasing power parity (ppp) terms. Hence, there exists a h
It is an honour and privilege for me to be speaking at Harvard to such a distinguished audience. I thank Professor Benjamin Friedman and Professor Tarun Khanna for this opportunity. I will be speaking on the Indian Economy. India is home to 1.21 billion people, which is about 17.4 per cent of the global population. However, it accounts for only 2.4 per cent of world GDP in US dollar terms and 5.5 per cent in purchasing power parity (ppp) terms. Hence, there exists a h
ಫೆಬ್ರವರಿ 17, 2012
Governance deficit and financial crisis
1. It is always a pleasure to return to one's home state, that too if the state is God's own country. Thank you for inviting me to address this august gathering of the cream of professionals and management experts of the state under the common banner of Kerala Management Association. I was however slightly apprehensive of what I should talk at a gathering like this. This apprehension started bordering worry when I saw the list of illustrious speakers who have addresse
1. It is always a pleasure to return to one's home state, that too if the state is God's own country. Thank you for inviting me to address this august gathering of the cream of professionals and management experts of the state under the common banner of Kerala Management Association. I was however slightly apprehensive of what I should talk at a gathering like this. This apprehension started bordering worry when I saw the list of illustrious speakers who have addresse
ಸೆಪ್ಟೆಂ 22, 2011
Impact of Global Financial Crisis on Financial Consumers – Global and Indian Perspective on Need for Consumer Protection – Role of Ombudsmen
Introduction Mr. Douglas Melville, Chairman INFO 2011, all the delegates attending the annual conference of INFO, Ladies and Gentlemen, It gives me immense pleasure to be here in British Columbia and particularly, Vancouver, the beautiful city and share my thoughts on a subject that has occupied centre stage ever since the global financial system has been hit by crisis leading to concerns being raised about the efficacy of laws, regulations and their implementation wi
Introduction Mr. Douglas Melville, Chairman INFO 2011, all the delegates attending the annual conference of INFO, Ladies and Gentlemen, It gives me immense pleasure to be here in British Columbia and particularly, Vancouver, the beautiful city and share my thoughts on a subject that has occupied centre stage ever since the global financial system has been hit by crisis leading to concerns being raised about the efficacy of laws, regulations and their implementation wi
ಫೆಬ್ರವರಿ 17, 2012
Moving towards technology led excellence in banking
Shri Sambamurthy, Director IDRBT, Executive Directors of banks, members of faculty from IDRBT, ladies and gentlemen. It gives me immense pleasure to be delivering the keynote address in today’s workshop ‘Beyond Core Banking’ and I thank IDRBT for giving me the opportunity. 2. In today’s technologically advanced environment, Core Banking Solution (CBS), does not remain an edge anymore, but has become the basic prerequisite for any bank. Building on this, banks need to
Shri Sambamurthy, Director IDRBT, Executive Directors of banks, members of faculty from IDRBT, ladies and gentlemen. It gives me immense pleasure to be delivering the keynote address in today’s workshop ‘Beyond Core Banking’ and I thank IDRBT for giving me the opportunity. 2. In today’s technologically advanced environment, Core Banking Solution (CBS), does not remain an edge anymore, but has become the basic prerequisite for any bank. Building on this, banks need to
ಸೆಪ್ಟೆಂ 12, 2012
Alternate Payment Channels- Prepaid cards-Issues and Challenges
Distinguished ladies and gentlemen, 1. I am happy to be in your midst today and share some thoughts with you on the future roadmap of the Indian payments system. I have had the pleasure of interacting with the industry participants in similar conferences organised by IAMAI twice in the past. Since then, several developments have taken place which I firmly believe will result in a greater role to the assembled stakeholders in the Indian payments industry. 2. The enactm
Distinguished ladies and gentlemen, 1. I am happy to be in your midst today and share some thoughts with you on the future roadmap of the Indian payments system. I have had the pleasure of interacting with the industry participants in similar conferences organised by IAMAI twice in the past. Since then, several developments have taken place which I firmly believe will result in a greater role to the assembled stakeholders in the Indian payments industry. 2. The enactm
ಏಪ್ರಿ 02, 2007
Monetary Policy Transmission in India
Key to the efficient conduct of monetary policy is the condition that it must exert a systematic influence on the economy in a forward-looking sense. A priori economic theory backed by some empirical evidence has identified the main channels through which monetary policy impacts its final targets, viz., output, employment and inflation. Broadly, the vehicles of monetary transmission can be classified into financial market prices (e.g., interest rates, exchange rates,
Key to the efficient conduct of monetary policy is the condition that it must exert a systematic influence on the economy in a forward-looking sense. A priori economic theory backed by some empirical evidence has identified the main channels through which monetary policy impacts its final targets, viz., output, employment and inflation. Broadly, the vehicles of monetary transmission can be classified into financial market prices (e.g., interest rates, exchange rates,
ಜೂನ್ 10, 2009
Emerging Contours of Financial Regulation : Challenges and Dynamics
The world is currently in the midst of the most severe financial and economic crisis since the Great Depression. Although the crisis originated in the sub-prime mortgage market in the United States, it then spread to Europe and later to the rest of the world. The speed of the contagion that spread across the world is perhaps unprecedented. What started off as a relatively limited crisis in the US housing mortgage sector turned successively into a widespread banking cr
The world is currently in the midst of the most severe financial and economic crisis since the Great Depression. Although the crisis originated in the sub-prime mortgage market in the United States, it then spread to Europe and later to the rest of the world. The speed of the contagion that spread across the world is perhaps unprecedented. What started off as a relatively limited crisis in the US housing mortgage sector turned successively into a widespread banking cr
ಏಪ್ರಿ 09, 2007
Special features of Financial Sector Reforms in India
Ms. Nitaya Pibulratanagit, Asst. Governor Bank of Thailand, Mr. Appiah Chairman Forex Association of India, Mr. Lamba Secretary Forex Association of India, delegates from India and Asia/Middle East, ladies and gentlemen. It is a pleasure to inaugurate the 18th annual conference of the Forex Association of India which is affiliated to ACI in this historical city of Bangkok. I understand FIMMDA had held a similar conference in Bangkok in 2003 which was inaugurated by my
Ms. Nitaya Pibulratanagit, Asst. Governor Bank of Thailand, Mr. Appiah Chairman Forex Association of India, Mr. Lamba Secretary Forex Association of India, delegates from India and Asia/Middle East, ladies and gentlemen. It is a pleasure to inaugurate the 18th annual conference of the Forex Association of India which is affiliated to ACI in this historical city of Bangkok. I understand FIMMDA had held a similar conference in Bangkok in 2003 which was inaugurated by my
ಏಪ್ರಿ 02, 2007
Role of Monetary Policy in Attaining Growth with Stability: The Indian Experience
Governor Garganas and Friends, I am honoured by the kind and persuasive invitation of Governor Garganas to visit Greece and give an address at the central bank. The ties and understanding between Greece and India can be traced to at least well over two millennia. There are references to Megasthenes as Greek Ambassador in the Chandragupta Maurya's Court of Pataliputra in the 4th century B.C. The Monetary Museum of Reserve Bank of India displays coins, which indicate ac
Governor Garganas and Friends, I am honoured by the kind and persuasive invitation of Governor Garganas to visit Greece and give an address at the central bank. The ties and understanding between Greece and India can be traced to at least well over two millennia. There are references to Megasthenes as Greek Ambassador in the Chandragupta Maurya's Court of Pataliputra in the 4th century B.C. The Monetary Museum of Reserve Bank of India displays coins, which indicate ac
ಮಾರ್ಚ್ 13, 2007
Indian Financial Sector Reforms
Introduction At the outset, I am thankful to the Institute of International Bankers for giving me this opportunity of addressing the Annual Washington Conference 2007.The banking system in India has undergone significant changes during last 15 years. There have been new banks, new instruments, new windows, new opportunities and, along with all this, new challenges. While deregulation has opened up new vistas for banks to augment revenues, it has also entailed greater
Introduction At the outset, I am thankful to the Institute of International Bankers for giving me this opportunity of addressing the Annual Washington Conference 2007.The banking system in India has undergone significant changes during last 15 years. There have been new banks, new instruments, new windows, new opportunities and, along with all this, new challenges. While deregulation has opened up new vistas for banks to augment revenues, it has also entailed greater
ಮೇ 22, 2009
Risk Management in the Midst of the Global Financial Crisis
Thank you for inviting me to be the keynote speaker at this Financial Management Summit. The global economy is passing through its deepest financial and economic crisis of our time. Protecting the Indian economy from the worst impact of the crisis has been a big challenge for the government and the Reserve Bank. Equally, I am conscious of the fact that industry, business and investors gathered here today have had to make very challenging adjustments in these difficult
Thank you for inviting me to be the keynote speaker at this Financial Management Summit. The global economy is passing through its deepest financial and economic crisis of our time. Protecting the Indian economy from the worst impact of the crisis has been a big challenge for the government and the Reserve Bank. Equally, I am conscious of the fact that industry, business and investors gathered here today have had to make very challenging adjustments in these difficult
ಮಾರ್ಚ್ 19, 2007
Globalisation and Monetary Policy : Some Emerging Issues
Professor Radhakrishna, Professor Eichenbaun, Professor Rebelo, Professor Christiano, Professor Nachane, Dr. Rakesh Mohan and friends,Happy New Year to all of you. For Dr. Rakesh Mohan, it is a holiday issue, as he described. For me, it is a festival issue also, since I am a Telugu. So, my address will be in the form of sharing of the festive mood also. As you may be aware, today is a festival celebrated as New Year by the State of Maharashtra, and is called Gudipadwa
Professor Radhakrishna, Professor Eichenbaun, Professor Rebelo, Professor Christiano, Professor Nachane, Dr. Rakesh Mohan and friends,Happy New Year to all of you. For Dr. Rakesh Mohan, it is a holiday issue, as he described. For me, it is a festival issue also, since I am a Telugu. So, my address will be in the form of sharing of the festive mood also. As you may be aware, today is a festival celebrated as New Year by the State of Maharashtra, and is called Gudipadwa
ಏಪ್ರಿ 14, 2007
The Global Economy and Financial Markets
Mr. Chairman, 1. The continued expansion in world GDP in 2006, with growth crossing the 5 percent mark, points to the emergence of a new phase - one that is more diversified with most regions posting higher growth than in the previous year. It is heartening to note that the new robust phase is driven by emerging market economies with China and India continuing to contribute substantially to the global growth momentum. Growth rate in the Euro area accelerated and the r
Mr. Chairman, 1. The continued expansion in world GDP in 2006, with growth crossing the 5 percent mark, points to the emergence of a new phase - one that is more diversified with most regions posting higher growth than in the previous year. It is heartening to note that the new robust phase is driven by emerging market economies with China and India continuing to contribute substantially to the global growth momentum. Growth rate in the Euro area accelerated and the r
ಜೂನ್ 15, 2009
Addressing the Regulatory Perimeter Issues – Indian Experience
1. The regulatory perimeter or boundary issue has been engaging the attention of policy makers internationally for quite some time but it was not a central issue associated with the current crisis. Paradoxically the origins as well the severity of impact of the crisis were concentrated in the most heavily regulated institutions. However, in my view, the real issue lay in not recognizing and addressing the dynamic inter-connectedness between entities across regulated,
1. The regulatory perimeter or boundary issue has been engaging the attention of policy makers internationally for quite some time but it was not a central issue associated with the current crisis. Paradoxically the origins as well the severity of impact of the crisis were concentrated in the most heavily regulated institutions. However, in my view, the real issue lay in not recognizing and addressing the dynamic inter-connectedness between entities across regulated,
ಫೆಬ್ರವರಿ 14, 2008
The Growth Record of the Indian Economy, 1950-2008: A Story of Sustained Savings and Investment
Rakesh Mohan* I deem it a real privilege to visit the Institute of Economic Growth to deliver the keynote address at this prestigious conference on growth and macroeconomic issues and challenges in India. I am particularly happy that this Conference is being organised by the Institute as a part of its Golden Jubilee celebrations. The Institute has established a long and creditable track record of contributing to economic research consistently over its 50 years history
Rakesh Mohan* I deem it a real privilege to visit the Institute of Economic Growth to deliver the keynote address at this prestigious conference on growth and macroeconomic issues and challenges in India. I am particularly happy that this Conference is being organised by the Institute as a part of its Golden Jubilee celebrations. The Institute has established a long and creditable track record of contributing to economic research consistently over its 50 years history
ಫೆಬ್ರವರಿ 05, 2010
Infrastructure Finance: Experiences and the Road Ahead
Respected Dr Rangarajan, Chairman of the Economic Advisory Council of PM, Padma Vibhushan Dr Y V Reddy, Prof (Dr) Suresh C Ghai, President, BMA, Shri G Pinto, Executive Director, BMA, distinguished guests and representatives from the print and electronic media. 1. Getting an award is always an exciting and motivating event particularly when you are getting it in the presence of the doyens or giants of the sector like Dr Rangarajan and Padma Vibhushan Dr Y V Reddy. I a
Respected Dr Rangarajan, Chairman of the Economic Advisory Council of PM, Padma Vibhushan Dr Y V Reddy, Prof (Dr) Suresh C Ghai, President, BMA, Shri G Pinto, Executive Director, BMA, distinguished guests and representatives from the print and electronic media. 1. Getting an award is always an exciting and motivating event particularly when you are getting it in the presence of the doyens or giants of the sector like Dr Rangarajan and Padma Vibhushan Dr Y V Reddy. I a
ಜನವರಿ 03, 2008
Management of the Capital Account in India: Some Perspectives
Guest of Honour Respected Professor C. R. Rao, Vice Chancellor Dr. Hasnain, President Professor Radhakrishna, Emeritus Professor Dr. Bhalla and distinguished participants, I am honoured by the kind invitation to deliver the inaugural address of the Annual Conference of Indian Econometric Society. It is a pleasure to be meeting friends in the profession, more so in my home town, Hyderabad. I have little to add to the themes covered in the papers. I thought that it may
Guest of Honour Respected Professor C. R. Rao, Vice Chancellor Dr. Hasnain, President Professor Radhakrishna, Emeritus Professor Dr. Bhalla and distinguished participants, I am honoured by the kind invitation to deliver the inaugural address of the Annual Conference of Indian Econometric Society. It is a pleasure to be meeting friends in the profession, more so in my home town, Hyderabad. I have little to add to the themes covered in the papers. I thought that it may
ಜನವರಿ 19, 2010
Financial Development and Deposit Insurance: Some Linkages
Introduction Governor, Reserve Bank of India, Dr. D. Subbarao; Deputy Governor, Reserve Bank of India, Ms. Usha Thorat; President, IADI and Vice-Chairman, FDIC, Mr. Martin Gruenberg; Chairman, ARC and Deputy Governor, DICJ, Mr. Mutsuo Hatano;CEO of the Deposit Insurance and Credit Guarantee Corporation Mr. H. N. Prasad; Distinguished Participants; Let me add my own words of welcome to all the participants in this very important event. In his opening address, Governor
Introduction Governor, Reserve Bank of India, Dr. D. Subbarao; Deputy Governor, Reserve Bank of India, Ms. Usha Thorat; President, IADI and Vice-Chairman, FDIC, Mr. Martin Gruenberg; Chairman, ARC and Deputy Governor, DICJ, Mr. Mutsuo Hatano;CEO of the Deposit Insurance and Credit Guarantee Corporation Mr. H. N. Prasad; Distinguished Participants; Let me add my own words of welcome to all the participants in this very important event. In his opening address, Governor
ಜನವರಿ 03, 2008
Some Comments on Macro-Stability in Indian Economy
Professor Nachane, Professor Radhakrishna, distinguished academics and friends, I am thankful to Indira Gandhi Institute of Development Research (IGIDR) for granting me the honour of releasing the India Development Report 2008 (IDR 2008). This is the fifth in the series and I wish to place on record our deep appreciation of the contribution made by Professor Kirit Parikh for the initiative and for establishing a tradition of high quality. I had the benefit of studying
Professor Nachane, Professor Radhakrishna, distinguished academics and friends, I am thankful to Indira Gandhi Institute of Development Research (IGIDR) for granting me the honour of releasing the India Development Report 2008 (IDR 2008). This is the fifth in the series and I wish to place on record our deep appreciation of the contribution made by Professor Kirit Parikh for the initiative and for establishing a tradition of high quality. I had the benefit of studying
ಜನವರಿ 16, 2010
Speech by Her Excellency the President of India, Shrimati Pratibha Devisingh Patil, at the Platinum Jubilee Celebrations and Release of Postage Stamp on the Reserve Bank of India on 16th January, 2010 at New Delhi
Ladies and Gentlemen, I am happy to be participating at this function to mark the Platinum Jubilee of the Reserve Bank of India and to release its Commemorative Stamp. I convey my greetings to its Governor, the Directors and the staff. The Reserve Bank of India has been a part of the country’s economic journey. It has stood at the centre of India’s financial system. From ensuring stability of interest and exchange rates to providing liquidity; from ensuring bank penet
Ladies and Gentlemen, I am happy to be participating at this function to mark the Platinum Jubilee of the Reserve Bank of India and to release its Commemorative Stamp. I convey my greetings to its Governor, the Directors and the staff. The Reserve Bank of India has been a part of the country’s economic journey. It has stood at the centre of India’s financial system. From ensuring stability of interest and exchange rates to providing liquidity; from ensuring bank penet
ಡಿಸೆಂ 04, 2007
Central Banking and Academia
Address by Professor Rundheersing Bheenick, Governor of the Bank of Mauritius, at the University of Mauritius proposing the conferment of the degree of Doctor of Civil Law honoris causa upon Dr Y V Reddy, Gov. of the RB of India, Port Louis, 3 Dec 2007.Honourable Chancellor, Sir Ramesh Jewoolall, Respected Pro-Chancellor Professor Jugessur, Respected Vice-Chancellor, Professor Fagoonee, Governor Bheenick, distinguished academics, and friends,It is a great honour and p
Address by Professor Rundheersing Bheenick, Governor of the Bank of Mauritius, at the University of Mauritius proposing the conferment of the degree of Doctor of Civil Law honoris causa upon Dr Y V Reddy, Gov. of the RB of India, Port Louis, 3 Dec 2007.Honourable Chancellor, Sir Ramesh Jewoolall, Respected Pro-Chancellor Professor Jugessur, Respected Vice-Chancellor, Professor Fagoonee, Governor Bheenick, distinguished academics, and friends,It is a great honour and p
ಜನವರಿ 16, 2010
Speech by Shri Pranab Mukherjee, Hon’ble Finance Minister on the release of RBI Commemorative Stamp on 16.01.2010 at New Delhi (As prepared for Delivery)
Your Excellency Hon’ble President of India, Shri Kamat, Hon’ble Minister for Communication, Shri Meena, Hon’ble Minister of State for Finance, Dr. Subbarao, Governor, RBI and friends, I am delighted to be here today in your midst on this occasion. 2. I congratulate all of you on the happy occasion of the celebration of the Platinum Jubilee of your institution. As many of you know, I have had a close association with RBI over the years. My interest in the central bank
Your Excellency Hon’ble President of India, Shri Kamat, Hon’ble Minister for Communication, Shri Meena, Hon’ble Minister of State for Finance, Dr. Subbarao, Governor, RBI and friends, I am delighted to be here today in your midst on this occasion. 2. I congratulate all of you on the happy occasion of the celebration of the Platinum Jubilee of your institution. As many of you know, I have had a close association with RBI over the years. My interest in the central bank
ಜನವರಿ 16, 2010
Commemorative Stamp Release by the President Governor’s Welcome Address
On behalf of the Reserve Bank of India, it is my pleasure and privilege to welcome Your Excellency, the Hon’ble President of India for the release of the Commemorative Stamp marking the Reserve Bank’s Platinum Jubilee. This occasion, Your Excellency, is truly special. This is the first time the First Citizen of the country has graced the New Delhi office of the Reserve Bank which has the honour and distinction of having been inaugurated by our first Prime Minister, Pa
On behalf of the Reserve Bank of India, it is my pleasure and privilege to welcome Your Excellency, the Hon’ble President of India for the release of the Commemorative Stamp marking the Reserve Bank’s Platinum Jubilee. This occasion, Your Excellency, is truly special. This is the first time the First Citizen of the country has graced the New Delhi office of the Reserve Bank which has the honour and distinction of having been inaugurated by our first Prime Minister, Pa
ಡಿಸೆಂ 22, 2022
Challenges and Opportunities in Scaling up Green Finance
1. A very good morning to all the distinguished dignitaries and participants at this BFSI Insight Summit being organised by the Business Standard. I am very happy to be amidst you today albeit virtually. In recent times, this event has become a well-regarded platform for debate and deliberation on contemporary issues in finance and has generated useful insights from the wisdom of distinguished speakers who have graced the previous summits. 2. As we look back over the
1. A very good morning to all the distinguished dignitaries and participants at this BFSI Insight Summit being organised by the Business Standard. I am very happy to be amidst you today albeit virtually. In recent times, this event has become a well-regarded platform for debate and deliberation on contemporary issues in finance and has generated useful insights from the wisdom of distinguished speakers who have graced the previous summits. 2. As we look back over the
ಸೆಪ್ಟೆಂ 05, 2022
Edited Excerpts of the Governor’s Interview with Zee Business on September 02, 2022
ज़ी बिजनेस आरबीआई ने कोविड-19 पेंडेमिक के समय देश के बैंकिंग सिस्टम और अर्थव्यवस्था को बड़े मुश्किल दौर से निकालने का काम किया है। ब्याज दरों में तेज कटौती करके, सिस्टम में लिक्विडिटी डालकर, जरूरत पड़ने पर मोराटोरियम देकर और साथ ही साथ लोंस की रिस्ट्रक्चरिंग को आसान करके, अर्थव्यवस्था को उस वक्त जिस बड़े सहारे की जरूरत थी, बैंकिंग सिस्टम को थी, वह काम किया। लेकिन आरबीआई का काम ऐसा है कि चुनौतियां कभी खत्म नहीं होती। अभी भी कुछ बड़ी और नई चुनौतियां हैं, दुनिया भर से भी
ज़ी बिजनेस आरबीआई ने कोविड-19 पेंडेमिक के समय देश के बैंकिंग सिस्टम और अर्थव्यवस्था को बड़े मुश्किल दौर से निकालने का काम किया है। ब्याज दरों में तेज कटौती करके, सिस्टम में लिक्विडिटी डालकर, जरूरत पड़ने पर मोराटोरियम देकर और साथ ही साथ लोंस की रिस्ट्रक्चरिंग को आसान करके, अर्थव्यवस्था को उस वक्त जिस बड़े सहारे की जरूरत थी, बैंकिंग सिस्टम को थी, वह काम किया। लेकिन आरबीआई का काम ऐसा है कि चुनौतियां कभी खत्म नहीं होती। अभी भी कुछ बड़ी और नई चुनौतियां हैं, दुनिया भर से भी
ಫೆಬ್ರವರಿ 07, 2020
Edited Transcript of Reserve Bank of India’s Sixth Bi-monthly Monetary Policy Press Conference
February 06, 2020 Participants from RBI: Mr. Shaktikanta Das – Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Mr. B. P. Kanungo – Deputy Governor, Reserve Bank of India Mr. Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Mr. T. Rabi Sankar – Executive Director, Reserve Bank of India Shaktikanta Das: Good afternoon. I welcome all the media persons a
February 06, 2020 Participants from RBI: Mr. Shaktikanta Das – Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Mr. B. P. Kanungo – Deputy Governor, Reserve Bank of India Mr. Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Mr. T. Rabi Sankar – Executive Director, Reserve Bank of India Shaktikanta Das: Good afternoon. I welcome all the media persons a
ಜುಲೈ 16, 2021
Interview with Financial Express on Friday, July 16, 2021 - Shri Shaktikanta Das, Governor, Reserve Bank of India
It is not like any other year, when inflation goes up, you start tightening the monetary policy: RBI Governor Shaktikanta Das Over the last few months, the government has taken steps to address the price rise in pulses, edible oils as also the imported inflation, but we do expect more measures from both the Centre and states to soften the pace of inflation. By Shobhana Subramanian and KG Narendranath Retail inflation print stayed above the upper band of the Reserve Ba
It is not like any other year, when inflation goes up, you start tightening the monetary policy: RBI Governor Shaktikanta Das Over the last few months, the government has taken steps to address the price rise in pulses, edible oils as also the imported inflation, but we do expect more measures from both the Centre and states to soften the pace of inflation. By Shobhana Subramanian and KG Narendranath Retail inflation print stayed above the upper band of the Reserve Ba
ಜುಲೈ 08, 2021
Interview with Business Standard on Thursday, July 8, 2021 - Shri Shaktikanta Das, Governor, Reserve Bank of India
Reserves remove doubt on ability to act: RBI Governor Shaktikanta Das Economic activities are expected to improve further going into July or into the second half, says Governor Das The Reserve Bank of India (RBI) is mindful of the entire yield curve and is not just focused on the 10-year bond. However, the 10-year bond has a larger impact on other rates. Hence, the central bank’s intervention in it was greater than in other papers, said RBI Governor Shaktikanta Das in
Reserves remove doubt on ability to act: RBI Governor Shaktikanta Das Economic activities are expected to improve further going into July or into the second half, says Governor Das The Reserve Bank of India (RBI) is mindful of the entire yield curve and is not just focused on the 10-year bond. However, the 10-year bond has a larger impact on other rates. Hence, the central bank’s intervention in it was greater than in other papers, said RBI Governor Shaktikanta Das in
ಡಿಸೆಂ 09, 2019
Edited Transcript of Reserve Bank of India’s Fifth Bi-Monthly Monetary Policy Tele Conference with Researchers and Analysts
December 05, 2019 Participants from RBI: Mr. Shaktikanta Das – Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Mr. B. P. Kanungo – Deputy Governor, Reserve Bank of India Mr. M. K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Executive Director, Reserve Bank of India Mr. Rajeshwar Rao – Executive Director, Reserve Bank of India Ms. Lily Vadera – Executive Director, Reserve Bank of India Mr. T. Rabi
December 05, 2019 Participants from RBI: Mr. Shaktikanta Das – Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Mr. B. P. Kanungo – Deputy Governor, Reserve Bank of India Mr. M. K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Executive Director, Reserve Bank of India Mr. Rajeshwar Rao – Executive Director, Reserve Bank of India Ms. Lily Vadera – Executive Director, Reserve Bank of India Mr. T. Rabi
ಅಕ್ಟೋ 06, 2019
Edited Transcript of Reserve Bank of India’s Fourth Bi-Monthly Monetary Policy Teleconference with Researchers and Analysts
October 4, 2019 Participants from RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri N.S. Vishwanathan – Deputy Governor, Reserve Bank of India Shri B. P. Kanungo – Deputy Governor, Reserve Bank of India Shri M.K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Executive Director, Reserve Bank of India Shri M. Rajeshwar Rao – Executive Director, Reserve Bank of India Shri Yogesh Dayal – Chief General Manager, Reserve Bank of India Mo
October 4, 2019 Participants from RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri N.S. Vishwanathan – Deputy Governor, Reserve Bank of India Shri B. P. Kanungo – Deputy Governor, Reserve Bank of India Shri M.K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Executive Director, Reserve Bank of India Shri M. Rajeshwar Rao – Executive Director, Reserve Bank of India Shri Yogesh Dayal – Chief General Manager, Reserve Bank of India Mo
ಆಗ 09, 2019
Edited Transcript of Reserve Bank of India’s Third Bi-Monthly Monetary Policy Conference with Researchers and Analysts
August 07, 2019 Participants from RBI: Mr. Shaktikanta Das – Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Mr. B.P. Kanungo – Deputy Governor, Reserve Bank of India Mr. Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Executive Director, Reserve Bank of India Mr. Yogesh Dayal – Chief General Manager, Reserve Bank of India Moderator: Good day, ladies and gentlemen. And welcome to the Thi
August 07, 2019 Participants from RBI: Mr. Shaktikanta Das – Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Mr. B.P. Kanungo – Deputy Governor, Reserve Bank of India Mr. Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Executive Director, Reserve Bank of India Mr. Yogesh Dayal – Chief General Manager, Reserve Bank of India Moderator: Good day, ladies and gentlemen. And welcome to the Thi
ಮಾರ್ಚ್ 08, 2021
Interview with The Times of India on March 8, 2021 - Shri Shaktikanta Das, Governor, Reserve Bank of India
What is your assessment of the economy? Growth impulses are gradually and steadily getting broad-based. The high-frequency indicators such as steel consumption, PMI for manufacturing and services are expanding, GST collections and e-way bills are showing improvement. Earlier, there was an impression that it was due to pent-up and festival demand. But now, it is genuine demand that is visible. The vaccination drive is giving greater confidence to consumers, so the dema
What is your assessment of the economy? Growth impulses are gradually and steadily getting broad-based. The high-frequency indicators such as steel consumption, PMI for manufacturing and services are expanding, GST collections and e-way bills are showing improvement. Earlier, there was an impression that it was due to pent-up and festival demand. But now, it is genuine demand that is visible. The vaccination drive is giving greater confidence to consumers, so the dema
ಮಾರ್ಚ್ 03, 2020
RBI Governor Shaktikanta Das speaks to Bloomberg Economics' Stephanie Flanders on coordinated policy action to the coronavirus fallout, Yes Bank and the Indian banking sector
Q1. Governor thus, thank you very much for talking with us. Of course the issue of the day is coronavirus and many discussions around what policymakers might be able to do. Do you agree that there's a case for coordinated central bank action in response? A. That is definitely in a strong reason for coordinated policy action because coronavirus has now turned out to be a global problem so when the problem is a global naturally the need for coordination at coordinated a
Q1. Governor thus, thank you very much for talking with us. Of course the issue of the day is coronavirus and many discussions around what policymakers might be able to do. Do you agree that there's a case for coordinated central bank action in response? A. That is definitely in a strong reason for coordinated policy action because coronavirus has now turned out to be a global problem so when the problem is a global naturally the need for coordination at coordinated a
ನವೆಂ 14, 2011
Financial Inclusion and Financial Stability : Are they two sides of the same coin?
Presentation 1. It is always a pleasure to be a part of such a confluence of bankers and researchers on contemporary issues in banking and finance but to choose to speak on an area which needs to be either ‘wholesomely new’ or ‘extensively revised’ at such a forum becomes a challenge. I thank the organizers, the CMD of Indian Overseas Bank and the Chairman of IBA for offering me this opportunity to share my own thoughts on a topical issue that has engaged attention of
Presentation 1. It is always a pleasure to be a part of such a confluence of bankers and researchers on contemporary issues in banking and finance but to choose to speak on an area which needs to be either ‘wholesomely new’ or ‘extensively revised’ at such a forum becomes a challenge. I thank the organizers, the CMD of Indian Overseas Bank and the Chairman of IBA for offering me this opportunity to share my own thoughts on a topical issue that has engaged attention of
ನವೆಂ 08, 2011
Gearing up for the Competitive Impulse in the Indian Banking in its defining decade
I: Introduction Dear Shri Narendra, CMD, Indian Overseas Bank and host of Bancon 2011, Shri M.D. Mallya, Chairman, Indian Banks Association and CMD, Bank of Baroda, Shri M.V. Nair, CMD, Union Bank of India, Shri S. Raman, CMD, Canara Bank, CMDs and EDs of other banks present here, fellow Bankers and all the delegates attending BANCON 2011, representatives of the print and electronic media, Ladies and Gentlemen. 2. It is my pleasure and privilege to be here to share my
I: Introduction Dear Shri Narendra, CMD, Indian Overseas Bank and host of Bancon 2011, Shri M.D. Mallya, Chairman, Indian Banks Association and CMD, Bank of Baroda, Shri M.V. Nair, CMD, Union Bank of India, Shri S. Raman, CMD, Canara Bank, CMDs and EDs of other banks present here, fellow Bankers and all the delegates attending BANCON 2011, representatives of the print and electronic media, Ladies and Gentlemen. 2. It is my pleasure and privilege to be here to share my
ಮೇ 25, 2006
Governor, Dr. Y. V Reddy's Discussion at Council on Foreign Relations
This is a rush transcript - hosted on RBI website with the concurrence of the Council on Foreign Relations. The transcript as well as the audio and video of the discussion are also available at http://www.cfr.org/publication/10763/reflections_on_indias_economic_development_rush_transcript_federal_news_service_inc.html Speaker: Y.V. Reddy Governor, Reserve Bank of India Presider: Frank G. Wisner Vice Chairman, External Affairs, American International Group, Inc. May 12
This is a rush transcript - hosted on RBI website with the concurrence of the Council on Foreign Relations. The transcript as well as the audio and video of the discussion are also available at http://www.cfr.org/publication/10763/reflections_on_indias_economic_development_rush_transcript_federal_news_service_inc.html Speaker: Y.V. Reddy Governor, Reserve Bank of India Presider: Frank G. Wisner Vice Chairman, External Affairs, American International Group, Inc. May 12
ಏಪ್ರಿ 01, 2011
Lessons for Monetary Policy from the Global Financial Crisis : An Emerging Market Perspective
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
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
ಸೆಪ್ಟೆಂ 21, 2012
Underlying Concepts and Principles of Dynamic Provisioning
Thank you very much for inviting me to this conference to share with you my understanding of the underlying concepts and principles of dynamic provisioning. A discussion paper on the subject was brought out by the Reserve Bank of India (RBI) in March 2012. We are still in the process of examining the comments received from banks and other stakeholders and it may take us a while to finalise anything in this regard. Why make provisions? 2. Let me start the discussion wi
Thank you very much for inviting me to this conference to share with you my understanding of the underlying concepts and principles of dynamic provisioning. A discussion paper on the subject was brought out by the Reserve Bank of India (RBI) in March 2012. We are still in the process of examining the comments received from banks and other stakeholders and it may take us a while to finalise anything in this regard. Why make provisions? 2. Let me start the discussion wi
ಸೆಪ್ಟೆಂ 23, 2012
Food Inflation and Agricultural Supply Chain Management
1. Shri Kailash Singh, Managing Director, Tefla’s, Shri Ramesh Abhishek, Chairman, Forward Market Commission, Dr. D. Bhalla, Joint Secretary, Department of Food and Public Distribution, Government of India, Shri. Sushil Goenka and Vijay Datta of the Solvent Extractors’ Association of India, Shri. Sandeep Bajoria, Chairman, Globoil Organising Committee, Shri. Dinesh Shahra, Dr. B. V. Mehta and other leaders from the edible oil and agri-commodity trade industries, and d
1. Shri Kailash Singh, Managing Director, Tefla’s, Shri Ramesh Abhishek, Chairman, Forward Market Commission, Dr. D. Bhalla, Joint Secretary, Department of Food and Public Distribution, Government of India, Shri. Sushil Goenka and Vijay Datta of the Solvent Extractors’ Association of India, Shri. Sandeep Bajoria, Chairman, Globoil Organising Committee, Shri. Dinesh Shahra, Dr. B. V. Mehta and other leaders from the edible oil and agri-commodity trade industries, and d
ಏಪ್ರಿ 03, 2012
Systemic risk assessment – The cornerstone for the pursuit of financial stability
1. First of all, let me extend a warm welcome to all of you to this vibrant city called Mumbai. We, in India, often call this city the Maximum City – it is undeniably, like the punch line of the advertisement of a global bank, a city which never sleeps. I hope all of you also take maximum advantage of your stay here in respect of the deliberations during the seminar and of the tremendous opportunities for entertainment that this city offers! 2. The subject of this con
1. First of all, let me extend a warm welcome to all of you to this vibrant city called Mumbai. We, in India, often call this city the Maximum City – it is undeniably, like the punch line of the advertisement of a global bank, a city which never sleeps. I hope all of you also take maximum advantage of your stay here in respect of the deliberations during the seminar and of the tremendous opportunities for entertainment that this city offers! 2. The subject of this con
ನವೆಂ 14, 2011
Bank Resolution Framework Challenges in the Indian Context
On behalf of the Reserve Bank of India, let me once again extend a hearty welcome to all the delegates to this IADI-DICGC International Conference on the Role of Deposit Insurance in Bank Resolution Framework - Lessons from the Financial Crisis. Welcome also to this Sun City of Jodhpur - on the edge of the Thar Desert - a city of forts and palaces, lakes and gardens, and folklore and legend that represents - in its mellifluous blend of tradition and modernity - the be
On behalf of the Reserve Bank of India, let me once again extend a hearty welcome to all the delegates to this IADI-DICGC International Conference on the Role of Deposit Insurance in Bank Resolution Framework - Lessons from the Financial Crisis. Welcome also to this Sun City of Jodhpur - on the edge of the Thar Desert - a city of forts and palaces, lakes and gardens, and folklore and legend that represents - in its mellifluous blend of tradition and modernity - the be
ಏಪ್ರಿ 09, 2012
Learning from the Crisis
On behalf of the Reserve Bank, I have great pleasure in welcoming Professor Michael D. Bordo who will shortly be delivering the fourth P. R. Brahmananda Memorial Lecture. Hearty welcome also to Ms. Jann Grace Seale, who has accompanied Prof. Bordo as the Reserve Bank’s guest. I also have pleasure in acknowledging the members of the family of late Prof. Brahmananda - Dr. P.R. Ramaswamy, Shri P.R. Vishwanath, Smt. Gayatri Viswanath and Ms. Kritika Viswanath. We are deli
On behalf of the Reserve Bank, I have great pleasure in welcoming Professor Michael D. Bordo who will shortly be delivering the fourth P. R. Brahmananda Memorial Lecture. Hearty welcome also to Ms. Jann Grace Seale, who has accompanied Prof. Bordo as the Reserve Bank’s guest. I also have pleasure in acknowledging the members of the family of late Prof. Brahmananda - Dr. P.R. Ramaswamy, Shri P.R. Vishwanath, Smt. Gayatri Viswanath and Ms. Kritika Viswanath. We are deli
ಸೆಪ್ಟೆಂ 27, 2012
Achieving Inclusive Growth: The Challenge of a New Era
On behalf of the Reserve Bank of India, I have great pleasure in welcoming Hon’ble Mr. Tharman Shanmugaratnam, Deputy Prime Minister of Singapore, who will shortly be delivering the L.K. Jha Memorial Lecture. 2. I also have pleasure in acknowledging the presence here of members of the family of late Dr. L.K. Jha - Smt. Dipika Maharaj Singh, Smt. Sharika Glover and Kiron Glover. Your presence here means a lot to us. Thank you very much. A warm welcome, of course, to al
On behalf of the Reserve Bank of India, I have great pleasure in welcoming Hon’ble Mr. Tharman Shanmugaratnam, Deputy Prime Minister of Singapore, who will shortly be delivering the L.K. Jha Memorial Lecture. 2. I also have pleasure in acknowledging the presence here of members of the family of late Dr. L.K. Jha - Smt. Dipika Maharaj Singh, Smt. Sharika Glover and Kiron Glover. Your presence here means a lot to us. Thank you very much. A warm welcome, of course, to al
ಜನವರಿ 24, 2012
Edited Transcript of Governor's Post Policy Press Conference Call with Media
“RBI Post-Policy Press Conference Call” January 24, 2012 Moderators Dr. D. Subbarao – Governor, Reserve Bank of India. Dr. Subir Gokarn – Deputy Governor, Reserve Bank of India Dr. K C Chakrabarty – Deputy Governor, Reserve Bank of India Shri Anand Sinha – Deputy Governor , Reserve Bank of India Shri H R Khan – Deputy Governor , Reserve Bank of India Ms. Alpana Killawala – Chief General Manager Department of Communication, Reserve Bank of India Moderator Ladies and ge
“RBI Post-Policy Press Conference Call” January 24, 2012 Moderators Dr. D. Subbarao – Governor, Reserve Bank of India. Dr. Subir Gokarn – Deputy Governor, Reserve Bank of India Dr. K C Chakrabarty – Deputy Governor, Reserve Bank of India Shri Anand Sinha – Deputy Governor , Reserve Bank of India Shri H R Khan – Deputy Governor , Reserve Bank of India Ms. Alpana Killawala – Chief General Manager Department of Communication, Reserve Bank of India Moderator Ladies and ge
ಏಪ್ರಿ 08, 2015
Edited Transcript of Reserve Bank of India’s Post Policy Conference Call with Researchers and Analysts
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H.R.Khan - Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri R. Gandhi – Deputy Governor Shri S.S. Mundra – Deputy Governor Dr. Michael D. Patra –Executive Director Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Ladies and Gentlemen, good day and welcome to the Reserve Bank of India Conference Call on First Bi-monthly Monetary Policy, 2015-16. As a reminder, all particip
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H.R.Khan - Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri R. Gandhi – Deputy Governor Shri S.S. Mundra – Deputy Governor Dr. Michael D. Patra –Executive Director Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Ladies and Gentlemen, good day and welcome to the Reserve Bank of India Conference Call on First Bi-monthly Monetary Policy, 2015-16. As a reminder, all particip
ಫೆಬ್ರವರಿ 04, 2016
Edited Transcript of Reserve Bank of India’s Post Policy Conference Call with Researchers and Analysts
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H.R.Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri S.S. Mundra – Deputy Governor Dr. Michael D. Patra – Executive Director Moderator: Ms. Alpana Killawala – Principal Adviser, Communications Moderator: Ladies and Gentlemen, Good Day and Welcome to the Sixth Bi-Monthly Monetary Policy Governor’s Teleconference with Researchers and Analysts. As a reminder, all participant lines will be in the
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H.R.Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri S.S. Mundra – Deputy Governor Dr. Michael D. Patra – Executive Director Moderator: Ms. Alpana Killawala – Principal Adviser, Communications Moderator: Ladies and Gentlemen, Good Day and Welcome to the Sixth Bi-Monthly Monetary Policy Governor’s Teleconference with Researchers and Analysts. As a reminder, all participant lines will be in the
ಜೂನ್ 03, 2015
Edited Transcript of Reserve Bank of India’s Post Policy Conference Call with Researchers and Analysts
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H.R.Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri S.S. Mundra – Deputy Governor Shri N. S. Vishwanathan – Executive Director Dr. Michael D. Patra – Executive Director Shri G. Mahalingam – Executive Director Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Ladies and Gentlemen, Good Day and Welcome to the Reserve Bank of India Post Policy Conference Call for Anal
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H.R.Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri S.S. Mundra – Deputy Governor Shri N. S. Vishwanathan – Executive Director Dr. Michael D. Patra – Executive Director Shri G. Mahalingam – Executive Director Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Ladies and Gentlemen, Good Day and Welcome to the Reserve Bank of India Post Policy Conference Call for Anal
ಸೆಪ್ಟೆಂ 30, 2015
Edited Transcript of Reserve Bank of India’s Post Policy Conference Call with Researchers and Analysts
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H.R.Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri R. Gandhi – Deputy Governor Shri S.S. Mundra – Deputy Governor Dr. Michael D. Patra – Executive Director Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Ladies and Gentlemen, Good Day and Welcome to the Fourth Bi-Monthly Monetary Policy Governor’s Teleconference with Researchers and Analysts. As a reminder, all
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H.R.Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri R. Gandhi – Deputy Governor Shri S.S. Mundra – Deputy Governor Dr. Michael D. Patra – Executive Director Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Ladies and Gentlemen, Good Day and Welcome to the Fourth Bi-Monthly Monetary Policy Governor’s Teleconference with Researchers and Analysts. As a reminder, all
ಫೆಬ್ರವರಿ 04, 2015
Edited Transcript of Reserve Bank of India's Post Policy Conference Call with Media
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H. R. Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri R. Gandhi – Deputy Governor Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Ladies and gentlemen, good day and welcome to the Reserve Bank of India post policy conference call for media. As a reminder, all participant lines will be in the listen-only mode. There will be an opportunity for you to ask questions
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H. R. Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri R. Gandhi – Deputy Governor Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Ladies and gentlemen, good day and welcome to the Reserve Bank of India post policy conference call for media. As a reminder, all participant lines will be in the listen-only mode. There will be an opportunity for you to ask questions
ಮಾರ್ಚ್ 05, 2015
Edited Transcript of Reserve Bank of India’s Conference Call with Researchers and Analysts
Participants from RBI: Dr. Raghuram G. Rajan – Governor, RBI. Shri R. Gandhi – Deputy Governor Dr. Michael D. Patra – Executive Director Moderator : Ms. Alpana Killawala – Principal Chief General Manager Moderator: Ladies and Gentlemen, Good Day and welcome to the RBI Governor’s Conference Call with Researchers and Analysts. As a reminder, all participant lines will be in the listen-only mode. There will be an opportunity for you to ask questions after the presentatio
Participants from RBI: Dr. Raghuram G. Rajan – Governor, RBI. Shri R. Gandhi – Deputy Governor Dr. Michael D. Patra – Executive Director Moderator : Ms. Alpana Killawala – Principal Chief General Manager Moderator: Ladies and Gentlemen, Good Day and welcome to the RBI Governor’s Conference Call with Researchers and Analysts. As a reminder, all participant lines will be in the listen-only mode. There will be an opportunity for you to ask questions after the presentatio
ಜುಲೈ 24, 2019
Interview with the Business Standard on July 24, 2019 – Shri Shaktikanta Das, Governor, Reserve Bank of India
Why are policy rate cuts not being transmitted to lending rates at banks? The cost of funds of banks is one of the factors, which impacts lending rates. Banks are gradually recovering from stress in their balance sheets due to overhang of non-performing assets (NPAs). Going forward, I don’t think NPAs will be a major impediment in transmission of the monetary policy rates. Most of the large public sector banks (PSBs) are not under prompt corrective action framework (P
Why are policy rate cuts not being transmitted to lending rates at banks? The cost of funds of banks is one of the factors, which impacts lending rates. Banks are gradually recovering from stress in their balance sheets due to overhang of non-performing assets (NPAs). Going forward, I don’t think NPAs will be a major impediment in transmission of the monetary policy rates. Most of the large public sector banks (PSBs) are not under prompt corrective action framework (P
ಡಿಸೆಂ 14, 2020
Interview with the Economic Times on December 14, 2020 – Shri Shaktikanta Das, Governor, Reserve Bank of India
It has been two years since you became the governor. How do you describe the challenges in this role compared to your previous role as a bureaucrat? There have been several challenges and it is difficult to segregate one from the other. The pandemic is the biggest health crisis in a century leading to an economic one. The event by itself is once in 100 years. The level of direct accountability with the governor is very high. In RBI, the buck stops with the governor. W
It has been two years since you became the governor. How do you describe the challenges in this role compared to your previous role as a bureaucrat? There have been several challenges and it is difficult to segregate one from the other. The pandemic is the biggest health crisis in a century leading to an economic one. The event by itself is once in 100 years. The level of direct accountability with the governor is very high. In RBI, the buck stops with the governor. W
ಸೆಪ್ಟೆಂ 04, 2023
Keynote Address by Shri Shaktikanta Das, Governor, RBI at the G20 TechSprint Finale organised by Reserve Bank of India and Bank for International Settlements (BIS). Mumbai, September 4, 2023
It gives me immense pleasure to be present here on the occasion of the G20 TechSprint 2023 Grand Finale - an event that represents the spirit of innovation, collaboration and transformation. TechSprint is yet another initiative which reinforces our commitment to harness technology and foster innovations that can transform the financial landscape of the entire world
It gives me immense pleasure to be present here on the occasion of the G20 TechSprint 2023 Grand Finale - an event that represents the spirit of innovation, collaboration and transformation. TechSprint is yet another initiative which reinforces our commitment to harness technology and foster innovations that can transform the financial landscape of the entire world
ಆಗ 25, 2021
Interview with The Hindu Business Line on August 25, 2021 – Shri Shaktikanta Das, Governor, Reserve Bank of India
Edited excerpts: Since the last monetary policy statement, have you seen any positive signs in the economy? Whatever I said in my last interview, by and large, holds good even today. There are signs of recovery; there are signs of some of the fast moving indicators improving. Passenger vehicles, sequentially, have improved marginally. Several of the fast moving indicators that include GST collections, e-way bills, railway freight, have improved over the position a mon
Edited excerpts: Since the last monetary policy statement, have you seen any positive signs in the economy? Whatever I said in my last interview, by and large, holds good even today. There are signs of recovery; there are signs of some of the fast moving indicators improving. Passenger vehicles, sequentially, have improved marginally. Several of the fast moving indicators that include GST collections, e-way bills, railway freight, have improved over the position a mon
ಆಗ 11, 2016
Edited Transcript of Reserve Bank of India’s Post Policy Conference Call with Researchers and Analysts
Participants from RBI: Dr. Raghuram G. Rajan – Governor, Reserve Bank of India Dr. Urjit R. Patel – Deputy 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 Mr. G. Mahalingam – Executive Director, Reserve Bank of India Moderator: Ms. Alpana Killawala
Participants from RBI: Dr. Raghuram G. Rajan – Governor, Reserve Bank of India Dr. Urjit R. Patel – Deputy 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 Mr. G. Mahalingam – Executive Director, Reserve Bank of India Moderator: Ms. Alpana Killawala
ಏಪ್ರಿ 07, 2016
Edited Transcript of Reserve Bank of India’s Post Policy Conference Call with Researchers and Analysts
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri Harun R. Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri R. Gandhi – Deputy Governor Shri. S. S. Mundra – Deputy Governor Moderator: Ms. Alpana Killawala – Principal Adviser, Communications Moderator: Ladies and Gentlemen, Good Day and Welcome to the First Bi-monthly Monetary Policy –Governor’s Teleconference with Researches and Analysts. As a reminder, all participant lines will be in the l
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri Harun R. Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri R. Gandhi – Deputy Governor Shri. S. S. Mundra – Deputy Governor Moderator: Ms. Alpana Killawala – Principal Adviser, Communications Moderator: Ladies and Gentlemen, Good Day and Welcome to the First Bi-monthly Monetary Policy –Governor’s Teleconference with Researches and Analysts. As a reminder, all participant lines will be in the l
ಡಿಸೆಂ 23, 2022
Governor’s Conversation at Fireside Chat of the Business Standard BFSI Insight Summit in Mumbai on December 21, 2022 (Edited Excerpts)
Tamal Bandyopadhyay: A very warm welcome to this fireside chat. I am a bit nervous sir. You always wear a different kind of tie. What is the brand that you prefer? Shaktikanta Das: It goes with the season and a Central Bank has to be for all seasons. Tamal Bandyopadhyay: Somebody told me that if you want to speak to someone and make them feel at ease, you start talking about ties. Mr Dave, CEO, HSBC India is sitting here. He was trying to excite me to ask all sorts of
Tamal Bandyopadhyay: A very warm welcome to this fireside chat. I am a bit nervous sir. You always wear a different kind of tie. What is the brand that you prefer? Shaktikanta Das: It goes with the season and a Central Bank has to be for all seasons. Tamal Bandyopadhyay: Somebody told me that if you want to speak to someone and make them feel at ease, you start talking about ties. Mr Dave, CEO, HSBC India is sitting here. He was trying to excite me to ask all sorts of
ಫೆಬ್ರವರಿ 09, 2019
Edited Transcript of Reserve Bank of India’s Sixth Bi-Monthly Monetary Policy Tele-Conference with Researchers and Analysts
February 07, 2019 Participants from RBI: Shri Shaktikanta Das – Governor Shri N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Shri B. P. Kanungo – Deputy Governor Shri M. K. Jain – Deputy GovernorDr. Michael D. Patra – Executive DirectorMr. Jose J. Kattoor – Chief General Manager Moderator: Ladies and gentlemen, good day and welcome to the Sixth Bi-Monthly Monetary Policy Conference with Researchers and Analysts. As a reminder, all particip
February 07, 2019 Participants from RBI: Shri Shaktikanta Das – Governor Shri N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Shri B. P. Kanungo – Deputy Governor Shri M. K. Jain – Deputy GovernorDr. Michael D. Patra – Executive DirectorMr. Jose J. Kattoor – Chief General Manager Moderator: Ladies and gentlemen, good day and welcome to the Sixth Bi-Monthly Monetary Policy Conference with Researchers and Analysts. As a reminder, all particip
ಜೂನ್ 12, 2019
Edited Transcript of Reserve Bank of India’s Second Bi-Monthly Monetary Policy Conference with Researchers and Analysts
June 06, 2019 Participants from RBI: Mr. Shaktikanta Das – Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Dr. Viral V. Acharya – Deputy Governor, Reserve Bank of India Mr. B. P. Kanungo – Deputy Governor, Reserve Bank of India Mr. Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Executive Director, Reserve Bank of India Shri Yogesh Dayal – Chief General Manager, Reserve Bank of India Mod
June 06, 2019 Participants from RBI: Mr. Shaktikanta Das – Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Dr. Viral V. Acharya – Deputy Governor, Reserve Bank of India Mr. B. P. Kanungo – Deputy Governor, Reserve Bank of India Mr. Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Executive Director, Reserve Bank of India Shri Yogesh Dayal – Chief General Manager, Reserve Bank of India Mod
ಫೆಬ್ರವರಿ 19, 2020
Interview with Indian Express on February 19, 2020 – Shri Shaktikanta Das, Governor, Reserve Bank of India
It’s been more than a year now for you as RBI Governor, coming after exits of two governors and one deputy governor. How has the year been in terms of RBI-government relationship? For the central bank, it’s never a dull moment, especially in today’s world, and I’m saying so not just in the context of RBI, but for all central banks. Economies across the world are changing so fast, with new technologies, new business models, new challenges. So, the central bank will alw
It’s been more than a year now for you as RBI Governor, coming after exits of two governors and one deputy governor. How has the year been in terms of RBI-government relationship? For the central bank, it’s never a dull moment, especially in today’s world, and I’m saying so not just in the context of RBI, but for all central banks. Economies across the world are changing so fast, with new technologies, new business models, new challenges. So, the central bank will alw
ಏಪ್ರಿ 27, 2020
Interview with Cogencis on April 27, 2020 – Shri Shaktikanta Das, Governor, Reserve Bank of India
Interviewers: T. Bijoy Idicheriah and Kalyan Ram from Cogencis. RBI has emerged as the first line of defence against the impact of COVID-19, and some may say, the only line of defence. Do you think more fiscal measures are needed for the relief package to be effective? Also, what is your advice to the government? Should they suspend FRBM or monetise deficit? Fiscal measures are important and the government is working on a package of measures. The finance minister has
Interviewers: T. Bijoy Idicheriah and Kalyan Ram from Cogencis. RBI has emerged as the first line of defence against the impact of COVID-19, and some may say, the only line of defence. Do you think more fiscal measures are needed for the relief package to be effective? Also, what is your advice to the government? Should they suspend FRBM or monetise deficit? Fiscal measures are important and the government is working on a package of measures. The finance minister has
ಜುಲೈ 22, 2019
Interview with Bloomberg on July 22, 2019 – Shri Shaktikanta Das, Governor, Reserve Bank of India
Reserve Bank of India Governor Shaktikanta Das gave his first interview with media since taking office in December. Here’s an edited transcript of the topics he covered in the more than 50 minute interview. On the economic slowdown and the RBI’s response: “The accommodative stance will depend on incoming data. How inflation numbers look how the growth numbers look. Primarily how inflation looks. With regard to the slowdown, I would not give a particular timeline and i
Reserve Bank of India Governor Shaktikanta Das gave his first interview with media since taking office in December. Here’s an edited transcript of the topics he covered in the more than 50 minute interview. On the economic slowdown and the RBI’s response: “The accommodative stance will depend on incoming data. How inflation numbers look how the growth numbers look. Primarily how inflation looks. With regard to the slowdown, I would not give a particular timeline and i
ಮೇ 17, 2006
Evolution of Central Banking in India
I must congratulate the organizers for choosing this important topic for deliberation in this seminar. I have great pleasure in mentioning that the theme of the Report on Currency and Finance - 2004-05, prepared by the staff of the Reserve Bank of India (RBI), is also that of evolution of Central Banking in India (RBI, 2005a). In going through the process of compilation of the Report, I have found the evolutionary process of central banking all over the world and also
I must congratulate the organizers for choosing this important topic for deliberation in this seminar. I have great pleasure in mentioning that the theme of the Report on Currency and Finance - 2004-05, prepared by the staff of the Reserve Bank of India (RBI), is also that of evolution of Central Banking in India (RBI, 2005a). In going through the process of compilation of the Report, I have found the evolutionary process of central banking all over the world and also
ಏಪ್ರಿ 13, 2012
Enabling Affordable Housing for All – Issues & Challenges
1. It is a pleasure to address such a distinguished gathering of delegates at the international conference and the well-known experts from the sector who have assembled here. It is my pleasure to be here not only as a representative of the Reserve Bank of India but also as a member of the Board of the National Housing Bank (NHB). Over the years, the Reserve Bank and the NHB have committed to the cause of improving the condition of the Indian housing sector considering
1. It is a pleasure to address such a distinguished gathering of delegates at the international conference and the well-known experts from the sector who have assembled here. It is my pleasure to be here not only as a representative of the Reserve Bank of India but also as a member of the Board of the National Housing Bank (NHB). Over the years, the Reserve Bank and the NHB have committed to the cause of improving the condition of the Indian housing sector considering
ಏಪ್ರಿ 12, 2012
Empowering the Growth of Emerging Enterprises
Shri Bodhisatva Ganguli, Deputy Executive Editor, The Economic Times, Shri Pramit Jhaveri, CEO, Citibank India, Ms. Paromita Chatterjee, Senior Editor, ET Now, Mr. Venu Srinivasan, Chairman, TVS Motor Company Ltd., Dr. Swati Piramal, Director – Strategic Alliances and Communications, Piramal Healthcare Ltd., distinguished panelists, other distinguished guests, members of the print and electronic media, ladies and gentlemen. 2. At the outset, I would like to congratula
Shri Bodhisatva Ganguli, Deputy Executive Editor, The Economic Times, Shri Pramit Jhaveri, CEO, Citibank India, Ms. Paromita Chatterjee, Senior Editor, ET Now, Mr. Venu Srinivasan, Chairman, TVS Motor Company Ltd., Dr. Swati Piramal, Director – Strategic Alliances and Communications, Piramal Healthcare Ltd., distinguished panelists, other distinguished guests, members of the print and electronic media, ladies and gentlemen. 2. At the outset, I would like to congratula
ಜನವರಿ 10, 2011
Centrality of banks in the financial system
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
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
ಏಪ್ರಿ 11, 2012
Musings on FEDAI, Forex Market and Indian Rupee
1. Dr. T V Nagendra Prasad, Charge d’ Affairs, Embassy of India, Mr. Phillipe Welti, former Ambassador of Switzerland to India & Bhutan, Mr. Beat Siegenthaler, Executive Director, UBS, Ms. Varsha Vasant Purandare, Chairperson, Foreign Exchange Dealers Association of India (FEDAI), Mr. D. G. Patwardhan, Chief Executive Officer, FEDAI, Mr. N. S. Venkatesh, Chairman, The Fixed Income Money Market and Derivatives Association of India (FIMMDA), Mr. C.E.S Azariah, Chief
1. Dr. T V Nagendra Prasad, Charge d’ Affairs, Embassy of India, Mr. Phillipe Welti, former Ambassador of Switzerland to India & Bhutan, Mr. Beat Siegenthaler, Executive Director, UBS, Ms. Varsha Vasant Purandare, Chairperson, Foreign Exchange Dealers Association of India (FEDAI), Mr. D. G. Patwardhan, Chief Executive Officer, FEDAI, Mr. N. S. Venkatesh, Chairman, The Fixed Income Money Market and Derivatives Association of India (FIMMDA), Mr. C.E.S Azariah, Chief
ಏಪ್ರಿ 09, 2012
The Great Depression and the Great Recession: What Have We Learnt?
1. Introduction The Financial Crisis of 2007-2008 and the Great Recession of 2007-2009 are now in the past although the U.S. economy is still recovering but at an abnormally low pace, and Europe is in recession again following the debt crisis of 2010-2011. During the worst of the recent financial crisis/Great Recession many observers made comparisons between that event and the Great Depression. In this lecture I reevaluate the experience of the two events. I raise and
1. Introduction The Financial Crisis of 2007-2008 and the Great Recession of 2007-2009 are now in the past although the U.S. economy is still recovering but at an abnormally low pace, and Europe is in recession again following the debt crisis of 2010-2011. During the worst of the recent financial crisis/Great Recession many observers made comparisons between that event and the Great Depression. In this lecture I reevaluate the experience of the two events. I raise and
ಅಕ್ಟೋ 01, 2010
Perspectives on Inflation in India
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
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
ಜೂನ್ 20, 2012
Responsible Innovation in Finance
Ladies and gentlemen, 1. C' est en effet un honneur et un privilège d'être ici ce soir, dans une des plus belles villes du monde, d'accepter au nom de l'une des Banques centrales les plus respectées du monde le prix Dufrenoy de l'Innovation décerné pour l'année 2012, à la Reserve Bank of India (pour nos calibrage politique dans le règlement des produits financiers). Je remercie tous ceux qui ont contribue a nous choisir pour cet honneur. Maintenant avant que l’on me d
Ladies and gentlemen, 1. C' est en effet un honneur et un privilège d'être ici ce soir, dans une des plus belles villes du monde, d'accepter au nom de l'une des Banques centrales les plus respectées du monde le prix Dufrenoy de l'Innovation décerné pour l'année 2012, à la Reserve Bank of India (pour nos calibrage politique dans le règlement des produits financiers). Je remercie tous ceux qui ont contribue a nous choisir pour cet honneur. Maintenant avant que l’on me d
ಸೆಪ್ಟೆಂ 20, 2010
Perspectives on Financial Sector Strategy
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
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
ಡಿಸೆಂ 08, 2010
Mint Road Milestones - Remarks of Dr. Duvvuri Subbarao, Governor at the Inauguration of NEWSIBITION at Kolkata
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
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
ಅಕ್ಟೋ 28, 2011
Edited Transcript of Post-Policy Conference Call with Researchers/Analysts
“Reserve Bank of India Post Policy Conference Call with Researchers and Analysts” October 26, 2011 Participants Dr. D. Subbarao – Governor Dr. Subir Gokarn – Deputy Governor Shri Anand Sinha – Deputy Governor Shri H.R. Khan- Deputy Governor Shri Deepak Mohanty, Executive Director Moderator: Alpana Killawala – Chief General Manager, Department of Communication Moderator: Ladies and gentlemen, good day and welcome to the Reserve Bank of India Post Policy Conference Call
“Reserve Bank of India Post Policy Conference Call with Researchers and Analysts” October 26, 2011 Participants Dr. D. Subbarao – Governor Dr. Subir Gokarn – Deputy Governor Shri Anand Sinha – Deputy Governor Shri H.R. Khan- Deputy Governor Shri Deepak Mohanty, Executive Director Moderator: Alpana Killawala – Chief General Manager, Department of Communication Moderator: Ladies and gentlemen, good day and welcome to the Reserve Bank of India Post Policy Conference Call
ಆಗ 03, 2012
Edited Transcript of Reserve Bank of India’s Post Policy Conference Call with Researchers and Analysts
“Reserve Bank of India Post-Policy Analyst Conference Call” August 1, 2012 Management: Dr. D. Subbarao – Governor, RBI Dr. Subir Gokarn – Deputy Governor, RBI Dr. Deepak Mohanty – Executive Director, RBI Moderators : Ms. Alpana Killawala – Chief General Manager, Department of Communication, RBI Moderator: Ladies and gentlemen, good day and welcome to the Reserve Bank of India Post Policy Conference Call for Researchers and Analysts. As a reminder, all participants’ li
“Reserve Bank of India Post-Policy Analyst Conference Call” August 1, 2012 Management: Dr. D. Subbarao – Governor, RBI Dr. Subir Gokarn – Deputy Governor, RBI Dr. Deepak Mohanty – Executive Director, RBI Moderators : Ms. Alpana Killawala – Chief General Manager, Department of Communication, RBI Moderator: Ladies and gentlemen, good day and welcome to the Reserve Bank of India Post Policy Conference Call for Researchers and Analysts. As a reminder, all participants’ li
ಫೆಬ್ರವರಿ 05, 2015
Edited Transcript of Reserve Bank of India’s Post Policy Conference Call with Researchers and Analysts
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H. R. Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri R. Gandhi – Deputy Governor Shri G. Padmanabhan – Executive Director Dr. Michael D. Patra – Executive Director Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Ladies and Gentlemen, Good Day and welcome to the Reserve Bank of India Post Policy Conference Call for Researchers and Analysts. As a reminder, all par
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H. R. Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri R. Gandhi – Deputy Governor Shri G. Padmanabhan – Executive Director Dr. Michael D. Patra – Executive Director Moderator: Ms. Alpana Killawala – Principal Chief General Manager Moderator: Ladies and Gentlemen, Good Day and welcome to the Reserve Bank of India Post Policy Conference Call for Researchers and Analysts. As a reminder, all par
ಜೂನ್ 09, 2016
Edited Transcript of Reserve Bank of India’s Post Policy Conference Call with Researchers and Analysts
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H.R.Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri S.S. Mundra – Deputy Governor Shri N.S. Vishwanathan – Executive Director Dr. Michael D. Patra – Executive Director Shri G. Mahalingam -- Executive Director Moderator: Ms. Alpana Killawala – Principal Adviser Moderator: Good Day, Ladies and Gentlemen. Welcome to the Second Bi-Monthly Monetary Policy Governor’s Teleconference with Researcher
Participants from RBI: Dr. Raghuram G. Rajan – Governor Shri H.R.Khan – Deputy Governor Dr. Urjit R. Patel – Deputy Governor Shri S.S. Mundra – Deputy Governor Shri N.S. Vishwanathan – Executive Director Dr. Michael D. Patra – Executive Director Shri G. Mahalingam -- Executive Director Moderator: Ms. Alpana Killawala – Principal Adviser Moderator: Good Day, Ladies and Gentlemen. Welcome to the Second Bi-Monthly Monetary Policy Governor’s Teleconference with Researcher
ಏಪ್ರಿ 06, 2019
Edited Transcript of Reserve Bank of India’s First Bi-Monthly Monetary Policy Teleconference with Researchers and Analysts
April 04, 2019 Participants from RBI: Shri Shaktikanta Das – Governor Shri N. S. Vishwanathan – Deputy Governor Dr. Viral Acharya – Deputy Governor Shri B. P. Kanungo – Deputy Governor Shri M. K. Jain – Deputy Governor Dr. Michael D. Patra – Executive Director Mr. Rajeshwar Rao – Executive Director Mr. Jose Kattoor – Chief General Manager Moderator: Good day, ladies and gentlemen. Welcome to the First Bi-Monthly Monetary Policy Conference with Researchers and Analysts
April 04, 2019 Participants from RBI: Shri Shaktikanta Das – Governor Shri N. S. Vishwanathan – Deputy Governor Dr. Viral Acharya – Deputy Governor Shri B. P. Kanungo – Deputy Governor Shri M. K. Jain – Deputy Governor Dr. Michael D. Patra – Executive Director Mr. Rajeshwar Rao – Executive Director Mr. Jose Kattoor – Chief General Manager Moderator: Good day, ladies and gentlemen. Welcome to the First Bi-Monthly Monetary Policy Conference with Researchers and Analysts
ಜೂನ್ 17, 2022
Governor’s Post-Speech Question Answer Session at the Financial Express Modern BFSI Summit in Mumbai on June 17, 2022 (Edited excerpts)
Qn: Good morning, thank you, sir, for this encouraging address. It is so very encouraging to see the regulator talk about various forms of regulations. You talked about entity-based, activity-based and outcome-based regulation. There is another school of thought in terms of the ultimate user, i.e., the borrower segment-centric regulation. I say this, especially in the context of the pandemic and certain conditions. The small borrowers are the ones who get affected the
Qn: Good morning, thank you, sir, for this encouraging address. It is so very encouraging to see the regulator talk about various forms of regulations. You talked about entity-based, activity-based and outcome-based regulation. There is another school of thought in terms of the ultimate user, i.e., the borrower segment-centric regulation. I say this, especially in the context of the pandemic and certain conditions. The small borrowers are the ones who get affected the
ಜೂನ್ 24, 2022
Interview with The Times of India (as published on June 24, 2022) – Shri Shaktikanta Das, Governor, Reserve Bank of India
Q: What are the risks and opportunities for the Indian economy? The revival of economic activity continues to be steady and is gaining traction. GDP has exceeded 2019-20 levels, and from April 2022 onwards, many high-frequency indicators that we monitor are showing steady improvement. The economy is back on track. In terms of business activities or investment, the opportunities are larger in pharma, technology, and renewables, etc. The other opportunity for India is t
Q: What are the risks and opportunities for the Indian economy? The revival of economic activity continues to be steady and is gaining traction. GDP has exceeded 2019-20 levels, and from April 2022 onwards, many high-frequency indicators that we monitor are showing steady improvement. The economy is back on track. In terms of business activities or investment, the opportunities are larger in pharma, technology, and renewables, etc. The other opportunity for India is t
ಡಿಸೆಂ 23, 2019
Interview with The Hindu on December 23, 2019 – Shri Shaktikanta Das, Governor, Reserve Bank of India
It is over three years now from when the Monetary Policy Committee (MPC) was first constituted. The term of the present MPC will end in 2021. How has been the experience with the MPC? On the whole, the inflation targeting has worked well, in many senses. Number one, it is a committee-based approach, so more minds are going into decision-making. There are three external experts which bring in outside perspective. This definitely improves the quality of decision-making
It is over three years now from when the Monetary Policy Committee (MPC) was first constituted. The term of the present MPC will end in 2021. How has been the experience with the MPC? On the whole, the inflation targeting has worked well, in many senses. Number one, it is a committee-based approach, so more minds are going into decision-making. There are three external experts which bring in outside perspective. This definitely improves the quality of decision-making
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