Chairmen of Customer Service Committees of banks, Whole Time Directors in charge of Customer Service Verticals, Principal Nodal Officers and my colleagues from the Reserve Bank of India. A very good morning to you all.

We have gathered here today to discuss a crucial aspect of our banking and financial services sector: customer service standards and grievance redress mechanism in RBI regulated entities.

2. As senior functionaries overseeing this critical domain, you bear a significant responsibility in shaping the quality of customer service rendered by your respective financial institutions. The focus must be on nurturing a customer-centric approach, for trust is the bedrock of the financial services business, and customer service, along with prompt grievance redress, is the bridge to building that trust. Over the course of my address today, I would like to highlight five important areas for your consideration which are:

Good afternoon and Namaskar.

Thank you Alfred for those insightful opening remarks. I must mention that Alfred led the IMF’s Article IV India mission for the 2021 consultations. The sheer weight of that experience and deep understanding of Indian conditions is reflected in his views. I would also like to commend Alfred and his co-editors for a comprehensive evaluation of India’s financial system and very valuable recommendations on the way forward in a recent book evocatively titled “India’s Financial System: Building the Foundation for Strong and Sustainable Growth”.

I am glad to see Mr Thomas Helbling from the Asia and Pacific Department of the IMF in this session, and I look forward to hearing from him.

I thank our host and SEACEN EXCO Chair, the National Bank of Cambodia, the SEACEN Centre and Dr. Mangal Goswami, Executive Director, and the BIS for inviting me to speak in this distinguished forum. In particular, I am grateful to Deputy

It gives me great pleasure to be here at the 4th edition of the Global FinTech Festival (GFF). I compliment the organisers for bringing all stakeholders of the FinTech ecosystem together for this three-day event with the aim of achieving a common goal of inclusive, resilient, and sustainable financial system. It would be obvious to state that innovation is the bedrock of the FinTech industry. Events such as these festivals enable sharing of knowledge and experience with peers, both domestic and global, which facilitate more innovation. By bringing regulators and FinTechs on the same forum, the festival also facilitates an understanding of regulatory expectations by the industry on the one hand, and appreciation of industry developments

It gives me great pleasure to be here at the 4th edition of the Global FinTech Festival (GFF). I compliment the organisers for bringing all stakeholders of the FinTech ecosystem together for this three-day event with the aim of achieving a common goal of inclusive, resilient, and sustainable financial system. It would be obvious to state that innovation is the bedrock of the FinTech industry. Events such as these festivals enable sharing of knowledge and experience with peers, both domestic and global, which facilitate more innovation. By bringing regulators and FinTechs on the same forum, the festival also facilitates an understanding of regulatory expectations by the industry on the one hand, and appreciation of industry developments

I am delighted to be here with all of you to celebrate the Diamond Jubilee Year of the Delhi School of Economics (DSE). The Delhi School has made a distinct mark as an institution of excellence and very high reputation, both in India and abroad. The list of eminent economists and distinguished alumni associated with the DSE is long and impressive. The School has inspired generations of students to excel in diverse streams such as academia, research, government and corporate sectors. In the Reserve Bank of India, we have also benefitted immensely from the DSE, with a continuous stream of students joining the RBI.

Mr. Gopalakrishnan, Mr. Padmanabhan, organisers of the Global Fintech Festival, delegates from both India and abroad, ladies and gentlemen. I am delighted to be present in the fourth edition of the Global FinTech Festival (GFF) a platform which provides space for a meaningful interaction and sharing of ideas amongst stakeholders of the FinTech ecosystem. The deliberations help all participants in identifying common objectives and also provide inputs for potential policy actions. The elements of the theme of this year’s GFF

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

I am deeply honoured for the invitation to deliver this lecture in the memory of Shri Lalit Doshi, an eminent civil servant, whose sudden demise at an early age nearly three decades back was a great loss to many, including the state of Maharashtra. Shri Doshi is fondly remembered as unassuming, sober, hardworking and extremely competent by his colleagues and contemporaries. In his distinguished public service career spanning more than 27 years, he held several key positions both in the state and central governments. As Secretary Industries, Government of Maharashtra during 1992-94, till his sad demise in January 1994, he played a pivotal role in

Today’s seminar on Global Economy: Challenges, Opportunities, and the Way Forward, held as part of the International Financial Architecture (IFA) and Framework Working Groups (FWG) workstreams under India’s G20 Presidency, including the three panel discussions have yielded rich and insightful thoughts on (i) financing development and global public goods; (ii) tackling global debt vulnerabilities; and (iii) the key risks to the global economy. All these issues are priorities under India’s G20 Presidency. I take this opportunity to thank all the participants for enhancing the quality of discussions during the day.

1. Good Afternoon, Ladies and Gentlemen, 2. Thank you for inviting me to participate in this dialogue and the Panel Discussion on ‘Climate Implications for Central Banking’. Climate change and its impact on us is no longer a distant threat. Rising global temperatures, extreme weather events, changing weather patterns and the degradation of ecosystems are threatening our lives and livelihoods. We therefore have to face up to the challenge of climate change sooner, not later. Now, it is up to us to deal with this in a calibrated and well-planned manner or deal with it once we are pushed into a corner with little elbow room. Therefore, the timing of this dialogue is quite appropriate and provides an opportunity to discuss and deliberate on this issue.

Participants from RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri M. K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri T. Rabi Sankar – Deputy Governor, Reserve Bank of India Dr. O. P. Mall – Executive Director, Reserve Bank of India Dr. Rajiv Ranjan – Executive Director, Reserve Bank of India Moderator: Shri Yogesh Dayal – C

I am delighted to have been invited by Federal Bank to deliver the K P Hormis Commemorative Lecture today. Late Shri K P Hormis, the founder of the Federal Bank, was a great institution builder who recognised early the critical role of entrepreneurs in an economy, the importance of banks in providing finance, particularly to small scale entrepreneurs, and the need for prudence in banking business to preserve financial stability. 2. Despite the multiple and overlapping

1. The Launching of Mission ‘Har Payment Digital’ today during the Digital Payments Awareness Week (DPAW) 2023 reinforces RBI’s commitment to deepen digital payments in the country. 2. I am happy to note that the Department of Payment and Settlement Systems (DPSS) of the RBI is celebrating its 18th anniversary (it was formed on March 7, 2005). Congratulations to team DPSS on this milestone. Over the years our payment systems have evolved and now we have multiple syste

1. 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

I am happy to have been invited to this Annual FIBAC 2022 Conference. This is an important forum for industry stalwarts, banking practitioners, thought leaders and policymakers to brainstorm on emerging issues. This conference is being held at a time when the global economy is going through a process of churning. Triple shocks of COVID-19, war in Ukraine and the current financial market turmoil have created a toxic mix of factors and circumstances which every country

A very warm good morning and Namaskar. 1. On behalf of the Central Board of the Reserve Bank of India, I have the privilege of welcoming the Hon’ble Prime Minister to this event to launch two major initiatives of the Reserve Bank. Sir, your participation in this event is a source of great motivation for all of us in the RBI. I would also like to welcome the Hon’ble Finance Minister to this event and thank her for her continuing support. We are also honoured by the est

It gives me great pleasure to be here at the National Academy of Audit and Accounts (NAAA), Shimla today to address the probationers and other officers of the Indian Audit and Accounts Service (IAAS). For the probationers, this is a time when they are embarking upon a journey in the service of the nation as the principal flag bearers of accountability and transparency in public finance and governance. 2. Civil Services play a pivotal role in the overall progress of a

Shri Nilesh Shah, Chairman, CII National Committee on Financial Markets, Shri Vishal Kampani, Co-Chair, Ms. Anuradha Salwan, Head, Financial Sector, CII, Ms. Amita Sarkar, Deputy Director General, CII and friends, I am honoured to be invited to deliver the keynote address in this plenary session of the 12th edition of the Financial Markets Summit organized by the Confederation of Indian Industry (CII). Over the years, the Summit has emerged as a flagship event for tak

1. The COVID-19 pandemic still continues to keep the world on the edge. The pandemic has so far infected more than 2.3 crore people and has claimed more than 8 lakh lives worldwide. The world is struggling to find a vaccine and/or a cure to the deadly virus. In India also the spread of pandemic continues unabated, though the fatality rate is much lower. 2. As the pandemic ravages on, the economic impact is hard to measure. While there are green shoots and some busines

A very warm good morning to you all. I wish to thank the State Bank of India for inviting me to deliver the keynote address today. I sincerely appreciate the efforts of the organising team in putting together this virtual conference which has now become a new normal. Banks and other financial entities are today at the forefront of the country’s counter measures against the economic impact of COVID-19. They are the transmission channels for RBI’s monetary, regulatory a