Banker to Banks

The objective of this paper is to narrate the Indian experience in operationalising capital account liberalisation. At the outset, the Indian context is described followed by a brief account of the factors that triggered the process of liberalisation in the ‘nineties. The policy framework that governed liberalisation, the process of liberalisation and the current framework of controls are then explained. Subsequent sections describe the management of capital account a

Mr. President and friends, I consider it a great privilege and an honour to be invited to deliver the 27th Frank Moraes Memorial Lecture. While I did not have the privilege of meeting Mr. Frank Moraes, I am an admirer of his writings, which are at once, objective, informative, illuminating, and inspiring. I must compliment the United Writers Association for keeping alive his memory in a befitting manner. I must also compliment the organisers for their tradition of inv

At the outset, I am thankful to the Institute for giving me an opportunity to be here and share the experiences and be a witness to the variety of sentiments and ideas. There is no prepared valedictory address; and I deliberately decided not to have one, so that I can share with you my perception of what happened in this Conference and incidentally make a few comments. This is a somewhat risky path for a central banker, especially with the press being here. But, by an

The objectives of this presentation are:(i) To suggest the need of some of the developing countries for managing capital account, implying elements of control, regulation and liberalisation as appropriate.(ii) to emphasise the importance of both international and national context in the management of capital account.(iii) to outline the contours of control and regulatory framework and the possible use of these in prioritising capital flows while suggesting the dynamic

Friends, I am thankful to the organisers for inviting me to participate in this Seminar. The document of the Asian Development Bank (ADB) on the subject is very comprehensive and incisive. It is difficult to add much to it so far as strategies outlined therein are concerned. There are, however, some new realities, especially due to compulsions of globalisation and technological progress that impinge on policies relating to poverty alleviation. Similarly, the changing

It gives me great pleasure in being with you, today, to share some thoughts relating to money and government securities market where the Reserve Bank of India has a pivotal role to play not only as the debt manager to the Government but also as the monetary authority of the country. I am indeed thankful to Shri M.R.Ramesh for giving me this opportunity to participate in this Seminar. As all of you are aware, in order that the Central Bank conducts the monetary policy

Friends,I must compliment the organisers for convening this Conference and thank them for inviting me to be here. Perhaps, you could not have chosen a better moment to have an inaugural meet of dealers in Fixed Income markets. The latest Budget announced earlier this week is a landmark and, indeed a watershed, in heralding an enabling environment for the development of healthy fixed income markets in India. The Budget ushers in the most comprehensive debt market refor

I am grateful to the Indian Institute of Science, unique Institute committed to advanced research and education on Science and Technology for asking me to deliver this lecture in the memory of Sir Vithal N. Chandravarkar. As a non-scientist, I feel specially privileged to be invited to address this distinguished audience in this famous institution. Sir Vithal Chandravarkar, a barrister by profession, was a towering personality in Indian public life. The University of

At the outset, I would like to express my gratitude to the organisers for giving me this opportunity to be with you. Though I belong to Andhra Pradesh, I had known Mr. Doshi personally since we interacted professionally. In fact, a few days before his unfortunate trip to Davos in January 1994, we were together for a couple of days in Hyderabad in a Retreat for Secretaries to Government of India and Chief Secretaries of States. Mr. Doshi displayed in his participation

Seminar on Regulatory framework for Non-Banking Financial Companies Key Note Address by Shri S. P. Talwar, Deputy Governor, Reserve Bank of India Central Office Mumbai 17th March, 1998 Distinguished delegates, guests, ladies and gentlemen, I extend a hearty welcome to you all to this Seminar which is taking place at a time when the NBFC sector is passing through a critical time and the process of its consolidation has just set in. With a view to effectively disseminat