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செப். 21, 2023
India’s Financial Sector - From Exuberance to Resilience (Speech delivered by Michael Debabrata Patra, Deputy Governor, Reserve Bank of India - September 18, 2023 - at the 16th SEACEN-BIS High Level Seminar hosted by the National Bank of Cambodia at Seim Reap, Cambodia)
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
Shri Michael Debabrata Patra, Deputy Governor
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
ஜூன் 05, 2023
Cyber Security for a safer Financial System
Dr. Sanjay Bahl, Director General of Computer Emergency Response Team – In (CERT-In), distinguished guests from the IMF, the BIS, delegates from other central banks and CERTs, MDs/CEOs of banks from India and their team members, global CISOs and CTOs of foreign banks, my colleagues from RBI, ladies and gentlemen. Good morning to all of you. 2. I thank all of you for joining us for this important event to deliberate upon the critical area of cyber security that has bec
Shri M. K. Jain, Deputy Governor, Reserve Bank of India
Dr. Sanjay Bahl, Director General of Computer Emergency Response Team – In (CERT-In), distinguished guests from the IMF, the BIS, delegates from other central banks and CERTs, MDs/CEOs of banks from India and their team members, global CISOs and CTOs of foreign banks, my colleagues from RBI, ladies and gentlemen. Good morning to all of you. 2. I thank all of you for joining us for this important event to deliberate upon the critical area of cyber security that has bec
ஏப். 27, 2023
Future-Proofing the Indian Financial System
I am very happy to be here among researchers and practitioners to participate in the Global Conference on Financial Resilience organised by the College of Supervisors of the Reserve Bank of India. I would like to convey my appreciations to the College of Supervisors (CoS) for organising this conference. I also congratulate the CoS for its accomplishments over the last two years. 2. In the context of the overall impact of the COVID-19 pandemic, the war in Ukraine and t
Shri Shaktikanta Das, Governor, Reserve Bank of India
I am very happy to be here among researchers and practitioners to participate in the Global Conference on Financial Resilience organised by the College of Supervisors of the Reserve Bank of India. I would like to convey my appreciations to the College of Supervisors (CoS) for organising this conference. I also congratulate the CoS for its accomplishments over the last two years. 2. In the context of the overall impact of the COVID-19 pandemic, the war in Ukraine and t
ஏப். 03, 2023
Financial Sector as an Enabler for Developed India
A very good evening to all of you. It is indeed a pleasure to be here and participate in the 31st annual management convention of Thrissur Management Association. As Socrates once said, "The only true wisdom is in knowing you know nothing." Little did we know, three years back, that we would face one of the greatest challenges of our lifetime - a pandemic that would upend our daily lives and force us to navigate through unknown, unforeseen, and unanticipated turbulenc
Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India
A very good evening to all of you. It is indeed a pleasure to be here and participate in the 31st annual management convention of Thrissur Management Association. As Socrates once said, "The only true wisdom is in knowing you know nothing." Little did we know, three years back, that we would face one of the greatest challenges of our lifetime - a pandemic that would upend our daily lives and force us to navigate through unknown, unforeseen, and unanticipated turbulenc
மார். 09, 2023
Self-Regulation in Financial Markets – Looking Back and Looking Ahead
1. A very good morning to all of you. It is indeed a pleasure to be here amidst all of you today at the 17th annual conference of FEDAI. These annual events of FEDAI provide an excellent opportunity for the exchange of ideas and thoughts among the foreign exchange market participants and I am sure this one will be no exception. 2. Today, as I speak to the market veterans assembled here in Cairo, it strikes me that it is fitting perhaps that this conference is being he
Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India
1. A very good morning to all of you. It is indeed a pleasure to be here amidst all of you today at the 17th annual conference of FEDAI. These annual events of FEDAI provide an excellent opportunity for the exchange of ideas and thoughts among the foreign exchange market participants and I am sure this one will be no exception. 2. Today, as I speak to the market veterans assembled here in Cairo, it strikes me that it is fitting perhaps that this conference is being he
ஜன. 27, 2023
Financial markets in India: In pursuit of stability and development
It is my pleasure to be part of the Annual FIMMDA1-PDAI2 Conference today. I would like to place on record the Reserve Bank’s appreciation of the critical role played by FIMMDA and PDAI in the development of financial markets in India over the years, and more recently, in partnering with the RBI in guiding the markets and the economy through the turbulent times of COVID-19, the war in Ukraine and the turmoil in financial markets. 2. Today, as I speak before keen marke
Shri Shaktikanta Das, Governor, Reserve Bank of India
It is my pleasure to be part of the Annual FIMMDA1-PDAI2 Conference today. I would like to place on record the Reserve Bank’s appreciation of the critical role played by FIMMDA and PDAI in the development of financial markets in India over the years, and more recently, in partnering with the RBI in guiding the markets and the economy through the turbulent times of COVID-19, the war in Ukraine and the turmoil in financial markets. 2. Today, as I speak before keen marke
நவ. 30, 2022
Financial Benchmarks in India: A Coming of Age
Smt. Usha Thorat, Chairperson, FBIL, Shri R.N. Kar, CEO, FBIL, distinguished speakers, colleagues and friends. It is a pleasure to be speaking today at the annual dinner of the Financial Benchmarks India Limited. Over the last decade, following the LIBOR problems, international attention to reform financial benchmarks has been a major component of the post-GFC regulatory overhaul of financial systems. Today, as we stand in the final stages of transition away from LIBO
Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India
Smt. Usha Thorat, Chairperson, FBIL, Shri R.N. Kar, CEO, FBIL, distinguished speakers, colleagues and friends. It is a pleasure to be speaking today at the annual dinner of the Financial Benchmarks India Limited. Over the last decade, following the LIBOR problems, international attention to reform financial benchmarks has been a major component of the post-GFC regulatory overhaul of financial systems. Today, as we stand in the final stages of transition away from LIBO
செப். 05, 2022
Financial Market Reforms: Approach and Expectations
1. I am happy to be part of this FIMMDA1 event today. I take this opportunity to place on record the RBI’s appreciation of the key role played by FIMMDA in the development of financial markets in India. 2. In my address this evening, I propose to reflect upon some recent financial market developments and our efforts to navigate through them in the prevailing global and domestic environment. I shall then touch upon some of our recent initiatives for the development of
Shri Shaktikanta Das, Governor, Reserve Bank of India
1. I am happy to be part of this FIMMDA1 event today. I take this opportunity to place on record the RBI’s appreciation of the key role played by FIMMDA in the development of financial markets in India. 2. In my address this evening, I propose to reflect upon some recent financial market developments and our efforts to navigate through them in the prevailing global and domestic environment. I shall then touch upon some of our recent initiatives for the development of
ஆக. 24, 2022
Corporate Bond Markets in India – Challenges and prospects
Introduction 1. An active corporate bond market serves multiple functions. Apart from providing borrowers an alternative to bank finance, corporate bonds can lower the cost of long- term funding. Banks are typically constrained in lending long-term because their liabilities are relatively of a shorter tenor. An efficient corporate bond market with lower costs and quicker issuing time can offer an efficient and cost-effective source of longer term funds for corporates.
Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India
Introduction 1. An active corporate bond market serves multiple functions. Apart from providing borrowers an alternative to bank finance, corporate bonds can lower the cost of long- term funding. Banks are typically constrained in lending long-term because their liabilities are relatively of a shorter tenor. An efficient corporate bond market with lower costs and quicker issuing time can offer an efficient and cost-effective source of longer term funds for corporates.
ஆக. 31, 2021
Keynote Address at the 21st FIMMDA-PDAI Annual Conference on August 31, 2021 - Shri Shaktikanta Das, Governor, Reserve Bank of India
It is my pleasure to be part of the Annual FIMMDA-PDAI Conference today. I take this opportunity to place on record the Reserve Bank’s deep appreciation of the key role played by FIMMDA and PDAI in the development of financial markets in India. Both organizations have played a significant role in improving the depth and liquidity of interest rate markets and in supporting primary issuance by the Government. Introduction 2. During May last year, in one of my statements
Shri Shaktikanta Das, Governor, Reserve Bank of India
It is my pleasure to be part of the Annual FIMMDA-PDAI Conference today. I take this opportunity to place on record the Reserve Bank’s deep appreciation of the key role played by FIMMDA and PDAI in the development of financial markets in India. Both organizations have played a significant role in improving the depth and liquidity of interest rate markets and in supporting primary issuance by the Government. Introduction 2. During May last year, in one of my statements
செப். 05, 2019
20th FIMMDA - PDAI Annual Conference
1. I am happy to be here today amidst you and I must thank FIMMDA and PDAI for this privilege. The annual conference of FIMMDA and PDAI has of late been known as much for the content of the deliberations as for the choice of the venues, and the present one, its twentieth edition, is no exception. These occasions bring together the best minds in the financial market, particularly the fixed income segment, under one roof and provides excellent platform for deliberating
Shri B. P. Kanungo, Deputy Governor, Reserve Bank of India
1. I am happy to be here today amidst you and I must thank FIMMDA and PDAI for this privilege. The annual conference of FIMMDA and PDAI has of late been known as much for the content of the deliberations as for the choice of the venues, and the present one, its twentieth edition, is no exception. These occasions bring together the best minds in the financial market, particularly the fixed income segment, under one roof and provides excellent platform for deliberating
ஆக. 19, 2019
Emerging Challenges to Financial Stability
It is indeed a matter of great pleasure for me to be here today amidst the business and financial sector leaders. My compliments go to the partners, namely, the Indian Banks’ Association, FICCI and the Boston Consulting Group for spearheading this event. What really gives me the additional motivation to address you is the earnestness with which you have themed this year’s conference, showing your appreciation of the need to prepare ourselves for a new paradigm in bank
Shri Shaktikanta Das, Governor, Reserve Bank of India
It is indeed a matter of great pleasure for me to be here today amidst the business and financial sector leaders. My compliments go to the partners, namely, the Indian Banks’ Association, FICCI and the Boston Consulting Group for spearheading this event. What really gives me the additional motivation to address you is the earnestness with which you have themed this year’s conference, showing your appreciation of the need to prepare ourselves for a new paradigm in bank
ஜூலை 26, 2019
Governor’s Remarks at the Book Release of Shri V. Srinivas
I am delighted to be part of this event for the launch of Shri V. Srinivas’s book on “India’s Relations with the International Monetary Fund”. A respected civil servant of the 1989 batch, he has drawn extensively on his hands-on stint as Advisor to the Executive Director for India at the IMF during 2003-06, combining it with his scholarship and experience in policy making. The book and the function today will promote readership on an important subject and spur more th
Shri Shaktikanta Das, Governor, Reserve Bank of India
I am delighted to be part of this event for the launch of Shri V. Srinivas’s book on “India’s Relations with the International Monetary Fund”. A respected civil servant of the 1989 batch, he has drawn extensively on his hands-on stint as Advisor to the Executive Director for India at the IMF during 2003-06, combining it with his scholarship and experience in policy making. The book and the function today will promote readership on an important subject and spur more th
ஜூன் 29, 2019
Development of Viable Capital Markets – The Indian Experience
1. Introduction 1.1 Capital markets play a crucial role in the economic development of a country. They provide financial resources required for the long-term sustainable development of the economy. Development of viable capital markets is therefore considered an important element in the macro-financial policy toolkit, including for objectives such as financial stability and the transmission of monetary policy. 1.2 The Committee on Global Financial System (CGFS), which
Dr. Viral V. Acharya, Deputy Governor, Reserve Bank of India
1. Introduction 1.1 Capital markets play a crucial role in the economic development of a country. They provide financial resources required for the long-term sustainable development of the economy. Development of viable capital markets is therefore considered an important element in the macro-financial policy toolkit, including for objectives such as financial stability and the transmission of monetary policy. 1.2 The Committee on Global Financial System (CGFS), which
ஜன. 15, 2018
Understanding and Managing Interest Rate Risk at Banks
Let me at the outset wish all of you a happy and healthy New Year. Thank you to Fixed Income Money Markets and Derivatives Association (FIIMDA) and its organizing team for inviting me to deliver this keynote address at its Annual Meet. I will speak today about understanding and managing better the interest rate risk at Indian banks. I will start, however, by looking elsewhere and historically, often a very good place to start. In the period after the Global Financial
Dr. Viral V. Acharya, Deputy Governor, Reserve Bank of India
Let me at the outset wish all of you a happy and healthy New Year. Thank you to Fixed Income Money Markets and Derivatives Association (FIIMDA) and its organizing team for inviting me to deliver this keynote address at its Annual Meet. I will speak today about understanding and managing better the interest rate risk at Indian banks. I will start, however, by looking elsewhere and historically, often a very good place to start. In the period after the Global Financial
செப். 27, 2016
Challenges in Developing the Bond Market in BRICS
I. Introduction I notice that the Seminar is on developing bond markets in BRICS. Though bond markets include both the government securities market and the corporate bonds market, I would dwell upon only on corporate debt market. The reason is simple. The government securities market in the BRICS countries have attained a definite positions, whereas the corporate bonds market are at nascent stage. 2. For example, India’s Government securities market - by whatever crit
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
I. Introduction I notice that the Seminar is on developing bond markets in BRICS. Though bond markets include both the government securities market and the corporate bonds market, I would dwell upon only on corporate debt market. The reason is simple. The government securities market in the BRICS countries have attained a definite positions, whereas the corporate bonds market are at nascent stage. 2. For example, India’s Government securities market - by whatever crit
ஆக. 26, 2016
Strengthening Our Debt Markets
Thank you for inviting me to speak to FEDAI. In the last few weeks, in successive speeches, I have outlined the RBI’s approach to inflation, distressed debt, financial inclusion, and banking sector reform. I want to speak today about debt markets and associated derivatives; why we need them to be deep and liquid, why, in addition to central and state governments, we need riskier firms and projects to be able to access the bond markets for funds, why we need to encoura
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Thank you for inviting me to speak to FEDAI. In the last few weeks, in successive speeches, I have outlined the RBI’s approach to inflation, distressed debt, financial inclusion, and banking sector reform. I want to speak today about debt markets and associated derivatives; why we need them to be deep and liquid, why, in addition to central and state governments, we need riskier firms and projects to be able to access the bond markets for funds, why we need to encoura
ஏப். 19, 2016
Indian Debt Market 2020 : The Underpinnings & the Path Ahead
Shri N. S. Venkatesh, Executive Director, IDBI Bank & Chairman, FIMMDA, Shri B. Prasanna, Chairman PDAI, senior colleagues from the banking fraternity, delegates from India & UK, ladies and gentlemen. It is my pleasure to be part of the Annual FIMMDA-PDAI Conference being held in one of the leading financial centres of the world. London is home of one of the world’s oldest central banks and epitomizes the intellectual churning that has happened internationally
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Shri N. S. Venkatesh, Executive Director, IDBI Bank & Chairman, FIMMDA, Shri B. Prasanna, Chairman PDAI, senior colleagues from the banking fraternity, delegates from India & UK, ladies and gentlemen. It is my pleasure to be part of the Annual FIMMDA-PDAI Conference being held in one of the leading financial centres of the world. London is home of one of the world’s oldest central banks and epitomizes the intellectual churning that has happened internationally
நவ. 06, 2015
Corporate Bond Markets in India: A Framework for Further Action
Speaking at this event - in this panel - leaves me with a sense of déjà vu. The fact that I spoke about the same issue at the same forum three years back in 2012 – and many other fora earlier – reflects the deep-rooted, inertial nature of underlying factors. At least for more than 10 years now development of corporate bond markets in India has been the focus of all stakeholders but the arduous pursuit of the ‘holy grail’ has not delivered desired results. In the proce
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Speaking at this event - in this panel - leaves me with a sense of déjà vu. The fact that I spoke about the same issue at the same forum three years back in 2012 – and many other fora earlier – reflects the deep-rooted, inertial nature of underlying factors. At least for more than 10 years now development of corporate bond markets in India has been the focus of all stakeholders but the arduous pursuit of the ‘holy grail’ has not delivered desired results. In the proce
ஆக. 25, 2015
Financial Market Regulation in India – Looking Back, Looking Ahead
Mr. Jiri Rusnok, Former Prime Minister & Member of the Board of the Czech National Bank; Dr. M. Venkatachalam, Charge d’Affairs Indian Embassy, Prague; Mr. N. S. Venkatesh, Chairman FIMMDA; Mr. Pradeep Madhav, PDAI; distinguished panelists and all the delegates. It gives me great pleasure to be delivering the keynote address for the FIMMDA – PDAI Annual Conference in this culturally rich, historically vibrant, naturally blessed city of Prague which still maintains
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Mr. Jiri Rusnok, Former Prime Minister & Member of the Board of the Czech National Bank; Dr. M. Venkatachalam, Charge d’Affairs Indian Embassy, Prague; Mr. N. S. Venkatesh, Chairman FIMMDA; Mr. Pradeep Madhav, PDAI; distinguished panelists and all the delegates. It gives me great pleasure to be delivering the keynote address for the FIMMDA – PDAI Annual Conference in this culturally rich, historically vibrant, naturally blessed city of Prague which still maintains
இந்திய ரிசர்வ் வங்கி மொபைல் செயலியை நிறுவுங்கள் மற்றும் சமீபத்திய செய்திகளுக்கான விரைவான அணுகலை பெறுங்கள்!
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கடைசியாக புதுப்பிக்கப்பட்ட பக்கம்: மே 21, 2025
