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Speeches
మార్చి 06, 2013
Approach to regulation and supervision in the post crisis world
Ms. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL), Mr. Aristobulo de Juan, a veteran supervisor and an international consultant, Mr. Pierre Yves Thoraval, former Deputy Secretary General of the French Banking Commission, Mr. Chris Cardoza, Program Director at the Toronto Centre, Ms. Shyamala Gopinath, former Deputy Governor, Reserve Bank of India and all the esteemed delegates of the conference. It is my privilege to address you a
Shri Anand Sinha, Deputy Governor, Reserve Bank of India
Ms. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL), Mr. Aristobulo de Juan, a veteran supervisor and an international consultant, Mr. Pierre Yves Thoraval, former Deputy Secretary General of the French Banking Commission, Mr. Chris Cardoza, Program Director at the Toronto Centre, Ms. Shyamala Gopinath, former Deputy Governor, Reserve Bank of India and all the esteemed delegates of the conference. It is my privilege to address you a
మార్చి 04, 2013
Vote of Thanks by Shri G. Gopalakrishna, Executive Director at the India-OECD-World Bank Regional Conference on Financial Education, New Delhi on March 4, 2013
Respected Governor Dr. Subbarao, Ambassador Richard Boucher, Deputy Secretary General, OECD, Mr. Onno Ruhl, the World Bank, Dr. K.C. Chakrabarty and Dr. Urjit Patel, Deputy Governors, Reserve Bank of India, senior officials of Ministry of Finance, Government of India and State Governments, Ms. Flore-Anne Messy, OECD, distinguished delegates from OECD, the World Bank and SAARC countries, Chairmen and Managing Directors of banks, colleagues from the Reserve Bank, ladies
Shri G. Gopalakrishna, Executive Director, Reserve Bank of India
Respected Governor Dr. Subbarao, Ambassador Richard Boucher, Deputy Secretary General, OECD, Mr. Onno Ruhl, the World Bank, Dr. K.C. Chakrabarty and Dr. Urjit Patel, Deputy Governors, Reserve Bank of India, senior officials of Ministry of Finance, Government of India and State Governments, Ms. Flore-Anne Messy, OECD, distinguished delegates from OECD, the World Bank and SAARC countries, Chairmen and Managing Directors of banks, colleagues from the Reserve Bank, ladies
మార్చి 04, 2013
India-OECD-World Bank Regional Conference on Financial Education
Presentation RBI Partnership with OECD and World Bank 1. RBI is delighted to have this opportunity to partner with two premiere international institutions - the OECD and the World Bank - on this very important conference on financial education. 2. Hearty welcome to all the delegates from around the world and across India. RBI and Financial Literacy 3. Why is the Reserve Bank - a central bank, whose core concern is maintaining price stability and supporting growth - in
Dr. D. Subbarao, Governor, Reserve Bank of India
Presentation RBI Partnership with OECD and World Bank 1. RBI is delighted to have this opportunity to partner with two premiere international institutions - the OECD and the World Bank - on this very important conference on financial education. 2. Hearty welcome to all the delegates from around the world and across India. RBI and Financial Literacy 3. Why is the Reserve Bank - a central bank, whose core concern is maintaining price stability and supporting growth - in
మార్చి 04, 2013
India-OECD-World Bank Regional Conference on Financial Education
Dr. D. Subbarao, Governor, Reserve Bank of India; Mr. Onno Ruhl, Country Director, the World Bank; Ambassador Richard Boucher, Deputy Secretary General, OECD; delegates from the OECD, the World Bank and from countries across the world; colleagues from Reserve Bank of India, other regulatory bodies and agencies involved in disseminating financial education in India; ladies and gentlemen. It is my proud privilege to welcome you all to India’s capital city of New Delhi,
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Dr. D. Subbarao, Governor, Reserve Bank of India; Mr. Onno Ruhl, Country Director, the World Bank; Ambassador Richard Boucher, Deputy Secretary General, OECD; delegates from the OECD, the World Bank and from countries across the world; colleagues from Reserve Bank of India, other regulatory bodies and agencies involved in disseminating financial education in India; ladies and gentlemen. It is my proud privilege to welcome you all to India’s capital city of New Delhi,
ఫిబ్ర 27, 2013
Role of Financial Market Infrastructure in Financial System Stability & Implications for Central Bank
Shri G Padmanabhan, Executive Director, Reserve Bank of India
ఫిబ్ర 18, 2013
Indian Banking Sector: Pushing the Boundaries
Dr. Pritam Singh, Director General, International Management Institute (IMI), participants from Reserve Bank of India and the commercial banks! It is a pleasure to be amongst you today as you complete the first leg of the learning experience which is the Advanced Management Programme. I believe that the programme is craftily designed with an appropriate blend of lectures and interactive sessions with some leading academicians, industry captains and management experts,
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Dr. Pritam Singh, Director General, International Management Institute (IMI), participants from Reserve Bank of India and the commercial banks! It is a pleasure to be amongst you today as you complete the first leg of the learning experience which is the Advanced Management Programme. I believe that the programme is craftily designed with an appropriate blend of lectures and interactive sessions with some leading academicians, industry captains and management experts,
ఫిబ్ర 15, 2013
International Seminar on Principles of Financial Market Infrastructures and Innovations in Retail Payments
Distinguished speakers, participants, other guests, ladies and gentlemen. It is a pleasure to be amidst you and speak to you all as we conclude this International Seminar on “Principles of Financial Market Infrastructures and Innovations in Retail Payments” organized by the Reserve Bank. 2. The theme of the seminar, which was chosen after considerable deliberations, is quite apt, given the markets around us. As you know, the term FMI refers to systemically important p
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Distinguished speakers, participants, other guests, ladies and gentlemen. It is a pleasure to be amidst you and speak to you all as we conclude this International Seminar on “Principles of Financial Market Infrastructures and Innovations in Retail Payments” organized by the Reserve Bank. 2. The theme of the seminar, which was chosen after considerable deliberations, is quite apt, given the markets around us. As you know, the term FMI refers to systemically important p
ఫిబ్ర 14, 2013
Principles of Financial Market Infrastructure & Innovations in Retail Payment Systems: Some Perspectives
It is a pleasure to be here in New Delhi to inaugurate this International Seminar on Principles of Financial Market Infrastructure (PFMI) and Innovations in Retail Payment Systems in the midst of the guest speakers and distinguished participants from around the world. The spring season in New Delhi is very pleasant and its beauty is all pervasive. I am sure the participants will enjoy the beauty of New Delhi and there would be a lot of takeaways from the seminar. I un
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
It is a pleasure to be here in New Delhi to inaugurate this International Seminar on Principles of Financial Market Infrastructure (PFMI) and Innovations in Retail Payment Systems in the midst of the guest speakers and distinguished participants from around the world. The spring season in New Delhi is very pleasant and its beauty is all pervasive. I am sure the participants will enjoy the beauty of New Delhi and there would be a lot of takeaways from the seminar. I un
ఫిబ్ర 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
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
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
ఫిబ్ర 04, 2013
What, Why, Who and How of Financial Literacy
Dr. Prakash Bakshi, Chairman, NABARD; Ms. Caitlin Wiesen, Country Director, UNDP India; Mr. Manoj K. Sharma, Director, MicroSave; delegates at the Workshop, ladies and gentlemen. As you all know, financial literacy has emerged as a focus area for policy makers not just in India, but all across the globe, particularly in the aftermath of the global financial crisis. Success in dissemination of financial literacy has been identified as key to meeting the critical object
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Dr. Prakash Bakshi, Chairman, NABARD; Ms. Caitlin Wiesen, Country Director, UNDP India; Mr. Manoj K. Sharma, Director, MicroSave; delegates at the Workshop, ladies and gentlemen. As you all know, financial literacy has emerged as a focus area for policy makers not just in India, but all across the globe, particularly in the aftermath of the global financial crisis. Success in dissemination of financial literacy has been identified as key to meeting the critical object
ఫిబ్ర 04, 2013
Regulation of G-Sec & Interest Rate Derivatives Market : Recent Developments & Emerging Issues
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
ఫిబ్ర 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
Shri Anand Sinha, Deputy Governor, Reserve Bank of India
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
జన 31, 2013
Indian Inflation Puzzle
Respected dignitaries on the dais: Advocate V. R. Parnerkar, Advocate Laxmikant Parnerkar, Shri Pradip Palnitkar, Shri Mohan Tanksale, Justice Mhase, Dr. S. N. Pathan and Dr. Ashutosh Raravikar; Ladies and Gentlemen. It is indeed my honour that Late Dr. Ramchandra Parnerkar Outstanding Economics Award for 2013 has been bestowed upon me. I thank the Poornawad Charitable Trust and its Life Management Institute for this recognition. It is heartening to see that over the
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
Respected dignitaries on the dais: Advocate V. R. Parnerkar, Advocate Laxmikant Parnerkar, Shri Pradip Palnitkar, Shri Mohan Tanksale, Justice Mhase, Dr. S. N. Pathan and Dr. Ashutosh Raravikar; Ladies and Gentlemen. It is indeed my honour that Late Dr. Ramchandra Parnerkar Outstanding Economics Award for 2013 has been bestowed upon me. I thank the Poornawad Charitable Trust and its Life Management Institute for this recognition. It is heartening to see that over the
జన 30, 2013
Opening Remarks by Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India at the OECD- World Bank Regional Dissemination Conference on Building Financial Capability at Nairobi, Kenya on January 30, 2013
Introduction Professor Njuguna Ndungú, Governor, Central Bank of Kenya, representatives from the Capital Market Authority, the Insurance Regulatory Authority and the Retirement Benefits Authority of Kenya, my colleagues from the OECD/INFE, World Bank, distinguished guests, ladies and gentlemen! It gives me immense pleasure to be here amidst you in the beautiful city of Nairobi, the safari capital of the world, to deliver the opening remarks in this OECD-World Bank Reg
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Introduction Professor Njuguna Ndungú, Governor, Central Bank of Kenya, representatives from the Capital Market Authority, the Insurance Regulatory Authority and the Retirement Benefits Authority of Kenya, my colleagues from the OECD/INFE, World Bank, distinguished guests, ladies and gentlemen! It gives me immense pleasure to be here amidst you in the beautiful city of Nairobi, the safari capital of the world, to deliver the opening remarks in this OECD-World Bank Reg
జన 29, 2013
Financial Inclusion of Urban Poor in India
Ms. Lata Krishnan, Chair, American India Foundation (AIF); Mr. M. A. Ravi Kumar, CEO, AIF; Prof. Sanghmitra S. Acharya, Jawaharlal Nehru University; Mr. Pradeep Kashyap, Vice Chair, AIF; Mr. Michael Markels from the World Bank; Ms. Kavita N. Ramdas, Ms. Madhu P. Kishwar, Mr. Mathew Titus and Ms. Sujata Lamba, the panelists for today’s discussion, Mr. Hanumant Rawat, Director, AIF; delegates at the seminar, ladies and gentlemen. It is a pleasure to be here today at the
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Ms. Lata Krishnan, Chair, American India Foundation (AIF); Mr. M. A. Ravi Kumar, CEO, AIF; Prof. Sanghmitra S. Acharya, Jawaharlal Nehru University; Mr. Pradeep Kashyap, Vice Chair, AIF; Mr. Michael Markels from the World Bank; Ms. Kavita N. Ramdas, Ms. Madhu P. Kishwar, Mr. Mathew Titus and Ms. Sujata Lamba, the panelists for today’s discussion, Mr. Hanumant Rawat, Director, AIF; delegates at the seminar, ladies and gentlemen. It is a pleasure to be here today at the
జన 22, 2013
Reserve Bank of India – Federal Reserve System Market Risk Analysis Seminar
1) I extend a warm welcome to the faculty from the Federal Reserve and all the participants of this programme. I am happy to inaugurate the Market Risk Analysis Programme. The periodic programmes involving the Fed Reserve experts have been welcomed wholeheartedly by the participants and we are glad to have another edition of the training programme, with focus on market risk. I hope the participants would be immensely benefited by this programme, just like the particip
Shri G. Gopalakrishna, Executive Director, Reserve Bank of India
1) I extend a warm welcome to the faculty from the Federal Reserve and all the participants of this programme. I am happy to inaugurate the Market Risk Analysis Programme. The periodic programmes involving the Fed Reserve experts have been welcomed wholeheartedly by the participants and we are glad to have another edition of the training programme, with focus on market risk. I hope the participants would be immensely benefited by this programme, just like the particip
జన 21, 2013
The Magical World of Mathematics – The Charm, Challenges and Career Prospects
Introduction 1. Dr. Rajeeva Karandikar, Director, Chennai Mathematical Institute; Dr. Mrs. J.K. Phadnis, Principal of the VES College of Arts, Science and Commerce; Prof. Amiya Kumar Pani, Chair Professor, Department of Mathematics, IIT Bombay; Mrs. Dipta Dasgupta, Convener of this conference aptly titled ‘Mathemight’, faculty members; other distinguished speakers and student participants; ladies and gentlemen. I am delighted to be here today in the midst of eminent s
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Introduction 1. Dr. Rajeeva Karandikar, Director, Chennai Mathematical Institute; Dr. Mrs. J.K. Phadnis, Principal of the VES College of Arts, Science and Commerce; Prof. Amiya Kumar Pani, Chair Professor, Department of Mathematics, IIT Bombay; Mrs. Dipta Dasgupta, Convener of this conference aptly titled ‘Mathemight’, faculty members; other distinguished speakers and student participants; ladies and gentlemen. I am delighted to be here today in the midst of eminent s
జన 19, 2013
Welcome Remarks by Dr. Duvvuri Subbarao, Governor, Reserve Bank of India at the First Prof. Tendulkar Memorial Oration at CAB, Pune on January 19, 2013
On behalf of the Reserve Bank of India, I am delighted to welcome Prof. Abhijit Banerjee, who will shortly be delivering the First Professor Tendulkar Memorial Oration. I also have great pleasure in acknowledging the presence here of Smt. Sunetra Tendulkar and other family members of late Prof. Tendulkar. Your presence here means a lot to us. A hearty welcome also to all the distinguished invitees to this lecture. Prof. S.D. Tendulkar 2. Prof. Suresh Tendulkar was, by
Dr. D. Subbarao, Governor, Reserve Bank of India
On behalf of the Reserve Bank of India, I am delighted to welcome Prof. Abhijit Banerjee, who will shortly be delivering the First Professor Tendulkar Memorial Oration. I also have great pleasure in acknowledging the presence here of Smt. Sunetra Tendulkar and other family members of late Prof. Tendulkar. Your presence here means a lot to us. A hearty welcome also to all the distinguished invitees to this lecture. Prof. S.D. Tendulkar 2. Prof. Suresh Tendulkar was, by
జన 19, 2013
Unedited Transcript of the First Suresh D. Tendulkar Memorial Oration delivered by Prof. Abhijit Banerjee, MIT, Boston, USA on January 19, 2013
Thank you very much Governor Subbarao for this generous introduction and thank you very much for inviting me to give this oration. I am a great fan of Professor Suresh Tendulkar. He was a one of a kind, very straight forward, very direct. When I said something he would disagree with, he would listen and come out and say that it does not make any sense and I had to defend myself there. It was always an honour defending myself against him. He had perceptive things to sa
Prof. Abhijit Banerjee, Guest Speaker
Thank you very much Governor Subbarao for this generous introduction and thank you very much for inviting me to give this oration. I am a great fan of Professor Suresh Tendulkar. He was a one of a kind, very straight forward, very direct. When I said something he would disagree with, he would listen and come out and say that it does not make any sense and I had to defend myself there. It was always an honour defending myself against him. He had perceptive things to sa
జన 19, 2013
Vote of Thanks by Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India at the First Prof. Tendulkar Memorial Oration at CAB, Pune on January 19, 2013
Respected Governor, Honourable Prof. Abhijit Banerjee, distinguished guests, my colleagues from Reserve Bank, ladies and gentlemen 2. On behalf of the Reserve Bank of India and also College of Agricultural Banking, Pune, I sincerely thank Prof. Abhijit Banerjee for having accepted our invitation to deliver the first Suresh Tendulkar Memorial Oration here today. 3. The Memorial Orations series in Reserve Bank have been a platform for all of us to share knowledge from a
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Respected Governor, Honourable Prof. Abhijit Banerjee, distinguished guests, my colleagues from Reserve Bank, ladies and gentlemen 2. On behalf of the Reserve Bank of India and also College of Agricultural Banking, Pune, I sincerely thank Prof. Abhijit Banerjee for having accepted our invitation to deliver the first Suresh Tendulkar Memorial Oration here today. 3. The Memorial Orations series in Reserve Bank have been a platform for all of us to share knowledge from a
జన 16, 2013
Free Translation of Governor's Address at the Outreach Programme in Lalpur Karauta Village in Uttar Pradesh on January 16, 2013
(originally delivered in Hindi) I am pleased to visit Lalpur Karauta village today and meet the people here. 2. I have come here from the Reserve Bank of India, Mumbai. The Reserve Bank also has an office in Lucknow and my colleagues from there have also accompanied me today. On this occasion, along with Bank of India and other banks, your member of parliament Shri P.L.Punia and senior officers of the Uttar Pradesh state government are also present. 3. You must be thi
Dr. D. Subbarao, Governor, Reserve Bank of India
(originally delivered in Hindi) I am pleased to visit Lalpur Karauta village today and meet the people here. 2. I have come here from the Reserve Bank of India, Mumbai. The Reserve Bank also has an office in Lucknow and my colleagues from there have also accompanied me today. On this occasion, along with Bank of India and other banks, your member of parliament Shri P.L.Punia and senior officers of the Uttar Pradesh state government are also present. 3. You must be thi
జన 10, 2013
Promoting Retail Investor Participation in Government Bonds
I am extremely happy to be invited for this important conference on capital markets organized by the ASSOCHAM, I am particularly pleased as the focus of the conference is on Investors who alongwith Issuers, Instruments, Intermediaries, (market) Infrastructure, Incentives & Innovation constitute, what I call, the 7’ I critical pillars of a robust and resilient debt market. Given the low level of participation of retail investors in equity and more so in debt market
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
I am extremely happy to be invited for this important conference on capital markets organized by the ASSOCHAM, I am particularly pleased as the focus of the conference is on Investors who alongwith Issuers, Instruments, Intermediaries, (market) Infrastructure, Incentives & Innovation constitute, what I call, the 7’ I critical pillars of a robust and resilient debt market. Given the low level of participation of retail investors in equity and more so in debt market
జన 03, 2013
The 15th C. D. Deshmukh Memorial Lecture on "A Revolution in Monetary Policy : Lessons in the Wake of the Global Financial Crisis" delivered by Joseph E. Stiglitz at Taj Mahal Palace, Mumbai on January 3, 2013
It is a real pleasure for me to be able to deliver this lecture in memory of the Reserve Bank of India's first Indian Governor, who set an example and a tradition which has resulted in the Reserve Bank of India being viewed as one of the exemplars of central banks around the world. As I shall comment later, one could not help but notice this in the aftermath of the 2008 Global Financial Crisis—which to a very large extent was brought about by failures of central banks
Joseph E. Stiglitz, Guest Speaker
It is a real pleasure for me to be able to deliver this lecture in memory of the Reserve Bank of India's first Indian Governor, who set an example and a tradition which has resulted in the Reserve Bank of India being viewed as one of the exemplars of central banks around the world. As I shall comment later, one could not help but notice this in the aftermath of the 2008 Global Financial Crisis—which to a very large extent was brought about by failures of central banks
జన 03, 2013
Random Payment System Issues of Systemic Relevance for the New Year
It is always a pleasure to be in God's own country to welcome the New Year. I am thankful to the Bankers Club of Thiruvanathapuram for affording this opportunity by inviting me over. I also deem it a privilege to be addressing the Bankers of the state which recently captured the imagination of the nation when one of the districts -Ernakulam- was declared as the first financially included district in the country. I am aware of the enormous efforts put in by the bankers
Shri G Padmanabhan, Executive Director, Reserve Bank of India
It is always a pleasure to be in God's own country to welcome the New Year. I am thankful to the Bankers Club of Thiruvanathapuram for affording this opportunity by inviting me over. I also deem it a privilege to be addressing the Bankers of the state which recently captured the imagination of the nation when one of the districts -Ernakulam- was declared as the first financially included district in the country. I am aware of the enormous efforts put in by the bankers
జన 03, 2013
Welcome Remarks by Dr. Duvvuri Subbarao, Governor, Reserve Bank of India at the 15th C. D. Deshmukh Memorial Lecture delivered by Prof. Joseph Stiglitz
On behalf of the Reserve Bank of India, I have great pleasure in welcoming Prof. Joseph E. Stiglitz, who will shortly be delivering the C.D. Deshmukh Memorial Lecture. Also, a warm welcome to Mrs. Anya Stiglitz who has accompanied him. I am delighted to acknowledge the presence here of the family members of Sir Chintaman Deshmukh - Shri Atul Deshmukh, Smt. Sheetala Deshmukh, and their children, Ashish and Priyanka, Prof. Sunita Chitnis and her son Dr. Ajay Chitnis. Yo
Dr. D. Subbarao, Governor, Reserve Bank of India
On behalf of the Reserve Bank of India, I have great pleasure in welcoming Prof. Joseph E. Stiglitz, who will shortly be delivering the C.D. Deshmukh Memorial Lecture. Also, a warm welcome to Mrs. Anya Stiglitz who has accompanied him. I am delighted to acknowledge the presence here of the family members of Sir Chintaman Deshmukh - Shri Atul Deshmukh, Smt. Sheetala Deshmukh, and their children, Ashish and Priyanka, Prof. Sunita Chitnis and her son Dr. Ajay Chitnis. Yo
జన 03, 2013
Vote of thanks by Shri Deepak Mohanty, Executive Director, Reserve Bank of India, on the occasion of the 15th C D Deshmukh Memorial Lecture on January 3, 2013
Honourable Professor Joseph Stiglitz, Governor Dr. Subbarao, distinguished guests and colleagues from the Reserve Bank. Central banks have come under severe intellectual scrutiny ever since the global crisis, even as they have crossed all conventional barriers in responding to the crisis. Monetary policy was partly blamed for the genesis of the crisis, and it continues to be blamed for ineffectiveness in giving us a durable recovery. We need nothing short of a revolut
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
Honourable Professor Joseph Stiglitz, Governor Dr. Subbarao, distinguished guests and colleagues from the Reserve Bank. Central banks have come under severe intellectual scrutiny ever since the global crisis, even as they have crossed all conventional barriers in responding to the crisis. Monetary policy was partly blamed for the genesis of the crisis, and it continues to be blamed for ineffectiveness in giving us a durable recovery. We need nothing short of a revolut
డిసెం 31, 2012
Contemporary issues in Banking: Reflections on Viewpoints of a Bank Economist
Dr. M. Narendra, Chairman and Managing Director, Indian Overseas Bank (IOB); Shri A.K. Bansal and Shri A.D.M. Chavali, Executive Directors of IOB; Shri N. Viswanathan, Regional Director, RBI; Smt. Indira Padmini and other General Managers of IOB; Shri M. Ramaswamy, Retired Secretary of Auroville; Shri S. Muthiah, Historian; Shri M.Ct.P. Chidambaram, grandson of the founder of Indian Overseas Bank; Shri B.J. Krishnan, Environmentalist; Shri Bhakther Solomon, Chief Exec
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Dr. M. Narendra, Chairman and Managing Director, Indian Overseas Bank (IOB); Shri A.K. Bansal and Shri A.D.M. Chavali, Executive Directors of IOB; Shri N. Viswanathan, Regional Director, RBI; Smt. Indira Padmini and other General Managers of IOB; Shri M. Ramaswamy, Retired Secretary of Auroville; Shri S. Muthiah, Historian; Shri M.Ct.P. Chidambaram, grandson of the founder of Indian Overseas Bank; Shri B.J. Krishnan, Environmentalist; Shri Bhakther Solomon, Chief Exec
డిసెం 17, 2012
Money Market and Monetary Operations in India
I thank Mr. G. Mahalingam for the opportunity to share my thoughts in this distinguished panel on money market. This forum which brings together the Reserve Bank and practitioners in the financial market, is important not only from the perspective of market development but also for fostering a better understanding of monetary operations. Money market is at the heart of monetary operations. Over the last decade, there has been substantial development in the Indian mone
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank Mr. G. Mahalingam for the opportunity to share my thoughts in this distinguished panel on money market. This forum which brings together the Reserve Bank and practitioners in the financial market, is important not only from the perspective of market development but also for fostering a better understanding of monetary operations. Money market is at the heart of monetary operations. Over the last decade, there has been substantial development in the Indian mone
డిసెం 17, 2012
Technology enabled transformation in the Financial Sector
Mr Sambamurthy, Members of Faculty, CIOs and GMs of banks, ladies and gentlemen. I thank the IDRBT for inviting me to address this erudite audience. The issues that I have chosen to flag; I hope, would generate adequate interest and be the basis for further deliberations leading to some concrete suggestions. We, in the Reserve Bank would eagerly look forward to such outcomes, as these can be useful to set the road map for technology adoption in the Indian financial se
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Mr Sambamurthy, Members of Faculty, CIOs and GMs of banks, ladies and gentlemen. I thank the IDRBT for inviting me to address this erudite audience. The issues that I have chosen to flag; I hope, would generate adequate interest and be the basis for further deliberations leading to some concrete suggestions. We, in the Reserve Bank would eagerly look forward to such outcomes, as these can be useful to set the road map for technology adoption in the Indian financial se
డిసెం 11, 2012
Transit Path For Indian Economy: Six Steps For Transforming The Elephant Into A Tiger
Shri Prabhat Jain and other members of the Delhi Chapter of the Young Presidents Organisation! It is my pleasure to be here amidst some of the young captains of the Indian industry, who, I believe, would continue to guide their respective enterprises for a foreseeable future and make immense contributions in shaping the Indian Economy going forward. I have been asked to speak to you today on “transforming the elephant into a tiger” and in this regard, I would suggest
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri Prabhat Jain and other members of the Delhi Chapter of the Young Presidents Organisation! It is my pleasure to be here amidst some of the young captains of the Indian industry, who, I believe, would continue to guide their respective enterprises for a foreseeable future and make immense contributions in shaping the Indian Economy going forward. I have been asked to speak to you today on “transforming the elephant into a tiger” and in this regard, I would suggest
డిసెం 10, 2012
Unearned and Unshared Prosperity are Unsustainable
As is invariably the case with any major crisis, the ongoing global financial and economic crisis, including lately, of course, the eurozone crisis, have unleashed a passionate debate over the design of a new architecture of finance, capitalism and globalization. However, the trouble has been not so much with the inter-temporally evolved architecture of finance, capitalism and globalization as really with how it was actually worked in practice. The apocalyptic denouem
Shri V.K. Sharma, Executive Director, Reserve Bank of India
As is invariably the case with any major crisis, the ongoing global financial and economic crisis, including lately, of course, the eurozone crisis, have unleashed a passionate debate over the design of a new architecture of finance, capitalism and globalization. However, the trouble has been not so much with the inter-temporally evolved architecture of finance, capitalism and globalization as really with how it was actually worked in practice. The apocalyptic denouem
డిసెం 07, 2012
Perspectives on India’s Balance of Payments
I thank Professor Sar for inviting me to address this young audience. In the recent years, India’s integration with the global economy has increased significantly. This is reflected in our expanding volume of external trade and financial transactions. While this process has several benefits arising from wider access to consumption and investment, there is attendant cost of periodic instability. Over the last two years, the Reserve Bank has been drawing attention to th
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank Professor Sar for inviting me to address this young audience. In the recent years, India’s integration with the global economy has increased significantly. This is reflected in our expanding volume of external trade and financial transactions. While this process has several benefits arising from wider access to consumption and investment, there is attendant cost of periodic instability. Over the last two years, the Reserve Bank has been drawing attention to th
నవం 30, 2012
Perspectives on Co-operation
Ms. Meena Hemchandra, Principal, Mr. R L Sharma, Vice-Principal, College for Agricultural Banking (CAB), Mr. Karuppasamy, the Executive Director, Mr. A. Vaidyanthan, a luminary in the field of development economics, distinguished participants from both India and abroad, my colleagues from Reserve Bank and the print and electronic media. 2. It is both a pleasure as well as a privilege for me to address this august gathering today. The International Conference on Co-ope
Shri Anand Sinha, Deputy Governor, Reserve Bank of India
Ms. Meena Hemchandra, Principal, Mr. R L Sharma, Vice-Principal, College for Agricultural Banking (CAB), Mr. Karuppasamy, the Executive Director, Mr. A. Vaidyanthan, a luminary in the field of development economics, distinguished participants from both India and abroad, my colleagues from Reserve Bank and the print and electronic media. 2. It is both a pleasure as well as a privilege for me to address this august gathering today. The International Conference on Co-ope
నవం 26, 2012
Financial Inclusion and Payment Systems: Recent Trends, Current Challenges and Emerging Issues
Presentation Shri. Narendra Singh, CMD, Bank of Maharashtra, Shri. K R Kamath, CMD, Punjab National Bank & Chairman, Indian Banks’ Association, Shri Raghuvir Singh, Executive Director, Bank of Maharashtra and Chairmen-Managing Directors & Executive Directors of banks, distinguished delegates, ladies and gentlemen. It is indeed a pleasure to be here in BANCON 2012 organised by the Indian Banks’ Association. I am especially happy to share my thoughts on financia
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Presentation Shri. Narendra Singh, CMD, Bank of Maharashtra, Shri. K R Kamath, CMD, Punjab National Bank & Chairman, Indian Banks’ Association, Shri Raghuvir Singh, Executive Director, Bank of Maharashtra and Chairmen-Managing Directors & Executive Directors of banks, distinguished delegates, ladies and gentlemen. It is indeed a pleasure to be here in BANCON 2012 organised by the Indian Banks’ Association. I am especially happy to share my thoughts on financia
నవం 23, 2012
Supporting Explosive Growth: Effective Linkages between the Banking Sector and Real Sector
Introduction Shri Rajkumar Dhoot, Hon’ble Member of Parliament and President, ASSOCHAM, Shri M. Narendra, Chairperson, ASSOCHAM National Council for Banking & Finance and CMD, Indian Overseas Bank, Shri Sunil Kanoria, Vice President, ASSOCHAM and Vice Chairman, SREI Infrastructure Finance Ltd.; Mrs. Shubhada Rao, Senior President and Chief Economist, Yes Bank Ltd.; Mr. Subhash C Aggarwal, CMD, SMC Group; Ms. Sudha Ravi, Co-Chairperson, ASSOCHAM National Council fo
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Introduction Shri Rajkumar Dhoot, Hon’ble Member of Parliament and President, ASSOCHAM, Shri M. Narendra, Chairperson, ASSOCHAM National Council for Banking & Finance and CMD, Indian Overseas Bank, Shri Sunil Kanoria, Vice President, ASSOCHAM and Vice Chairman, SREI Infrastructure Finance Ltd.; Mrs. Shubhada Rao, Senior President and Chief Economist, Yes Bank Ltd.; Mr. Subhash C Aggarwal, CMD, SMC Group; Ms. Sudha Ravi, Co-Chairperson, ASSOCHAM National Council fo
నవం 20, 2012
G 20 and India
My sincere thanks to the Forum of Free Enterprise and Shri Minoo Shroff for inviting me to deliver the A.D. Shroff Memorial Lecture. It is an honour to which I attach a lot of value. A.D. Shroff 2. Even as he had no privileged background, A.D. Shroff rose to become one of the country’s most eminent and respected professionals in the financial world of his time. From the Board of Tata Sons, where he was the financial adviser, he went on to become the chairman of New In
Dr. D. Subbarao, Governor, Reserve Bank of India
My sincere thanks to the Forum of Free Enterprise and Shri Minoo Shroff for inviting me to deliver the A.D. Shroff Memorial Lecture. It is an honour to which I attach a lot of value. A.D. Shroff 2. Even as he had no privileged background, A.D. Shroff rose to become one of the country’s most eminent and respected professionals in the financial world of his time. From the Board of Tata Sons, where he was the financial adviser, he went on to become the chairman of New In
నవం 20, 2012
Managing Capital Flows
Ladies and Gentlemen, On behalf of the Reserve Bank of India and my own behalf, I extend a hearty welcome to you all to this conference on Managing Capital Flows, in this great city of Mumbai. As you know the conference is co-sponsored by Reserve Bank of India and Asian Development Bank (ADB). Mumbai is not only the commercial hub of India but also has a rich heritage. I hope you will have some time to experience the vibrancy of Mumbai. 2. Turning to today’s conferenc
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
Ladies and Gentlemen, On behalf of the Reserve Bank of India and my own behalf, I extend a hearty welcome to you all to this conference on Managing Capital Flows, in this great city of Mumbai. As you know the conference is co-sponsored by Reserve Bank of India and Asian Development Bank (ADB). Mumbai is not only the commercial hub of India but also has a rich heritage. I hope you will have some time to experience the vibrancy of Mumbai. 2. Turning to today’s conferenc
నవం 16, 2012
Leveraging Cooperative Advantage
Photograph Thank you very much for inviting me to inaugurate this two day International Conference on “Leveraging Cooperative Advantage” organized to celebrate the International Year of Cooperatives declared by the United Nations (UN). This is an opportunity to which I attach a lot of value. 2. The year-long celebration of cooperatives all over the world gives us an opportunity to revisit “the strengths of the cooperative business model as an alternative means of doin
Dr. D. Subbarao, Governor, Reserve Bank of India
Photograph Thank you very much for inviting me to inaugurate this two day International Conference on “Leveraging Cooperative Advantage” organized to celebrate the International Year of Cooperatives declared by the United Nations (UN). This is an opportunity to which I attach a lot of value. 2. The year-long celebration of cooperatives all over the world gives us an opportunity to revisit “the strengths of the cooperative business model as an alternative means of doin
నవం 12, 2012
The Financial Innovations That Never Were
1. I deem it an honour and privilege to be addressing this very distinguished and august audience. Right at the outset, I would like to impress upon this very learned and discerning audience that responsible Financial Innovation is not an end in itself, but instead, a means to an end of sub-serving the real sector and in that sense it is consistent with, and a natural fit to, public policy purpose of “financial sector-real sector balance”. As this distinguished audien
Shri V.K. Sharma, Executive Director, Reserve Bank of India
1. I deem it an honour and privilege to be addressing this very distinguished and august audience. Right at the outset, I would like to impress upon this very learned and discerning audience that responsible Financial Innovation is not an end in itself, but instead, a means to an end of sub-serving the real sector and in that sense it is consistent with, and a natural fit to, public policy purpose of “financial sector-real sector balance”. As this distinguished audien
నవం 09, 2012
Financial Inclusion – Issues in Measurement and Analysis
Introduction 1. Mr. Muhammad bin Ibrahim, Deputy Governor, Bank Negara Malaysia and Chairman, Irving Fisher Committee, Mr. Paul Van den Bergh, Head of Statistics, Bank for International Settlements (BIS), senior officials from Statistics departments of Central Banks and distinguished participants at the Workshop. I am delighted to be here for the Workshop on Financial Inclusion Indicators organized jointly by the Bank Negara Malaysia and the BIS. 2. The importance of
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Introduction 1. Mr. Muhammad bin Ibrahim, Deputy Governor, Bank Negara Malaysia and Chairman, Irving Fisher Committee, Mr. Paul Van den Bergh, Head of Statistics, Bank for International Settlements (BIS), senior officials from Statistics departments of Central Banks and distinguished participants at the Workshop. I am delighted to be here for the Workshop on Financial Inclusion Indicators organized jointly by the Bank Negara Malaysia and the BIS. 2. The importance of
నవం 09, 2012
The Importance of Inflation Expectations
‘‘Each possesses within himself two antagonistic and foolish counsellors, whom we call by the names of pleasure and pain…besides these two, each man possesses opinions about the future, which go by the general name of ‘expectations’; and of these, that which precedes pain bears the special name of ‘fear’, and that which precedes pleasure the special name of ‘confidence’.” Plato, 360 BC I thank Dr. Sesha Iyer and Dr. Pattnaik for the invitation to address this young au
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
‘‘Each possesses within himself two antagonistic and foolish counsellors, whom we call by the names of pleasure and pain…besides these two, each man possesses opinions about the future, which go by the general name of ‘expectations’; and of these, that which precedes pain bears the special name of ‘fear’, and that which precedes pleasure the special name of ‘confidence’.” Plato, 360 BC I thank Dr. Sesha Iyer and Dr. Pattnaik for the invitation to address this young au
అక్టో 25, 2012
Financial Regulatory Reforms
A very good afternoon to you all. It is my privilege to chair the panel on ‘Financial Regulatory Reforms: Not far enough or Overkill?’ Let me welcome the four very eminent panelists, Mr. Jae-ha Park, Deputy Dean ADBI; Mr. Stephen Pickford, Associate Fellow, Chatham House; Mr. Paul Bernd Spahn, Professor Emeritus of Goethe University, Frankfurt am Main, Germany and Ms. Susan Thomas, Assistant Professor, Indira Gandhi Institute of Development Research. 2. The topic of t
Shri Anand Sinha, Deputy Governor, Reserve Bank of India
A very good afternoon to you all. It is my privilege to chair the panel on ‘Financial Regulatory Reforms: Not far enough or Overkill?’ Let me welcome the four very eminent panelists, Mr. Jae-ha Park, Deputy Dean ADBI; Mr. Stephen Pickford, Associate Fellow, Chatham House; Mr. Paul Bernd Spahn, Professor Emeritus of Goethe University, Frankfurt am Main, Germany and Ms. Susan Thomas, Assistant Professor, Indira Gandhi Institute of Development Research. 2. The topic of t
అక్టో 23, 2012
Technology in the Financial Sector- Some Issues and a Few Concerns
Mr Joseph, Mr Jayakumar, Mr Hareesh Babu, Mr John, distinguished ladies and gentlemen, it is a pleasure to be addressing the bankers in this beautiful city of Thrissur, often called the cultural capital of Kerala. From the bankers' perspective it can well be called the banking capital of Kerala, as three banks are head-quartered in Thrissur and a fourth in the adjoining town of Aluva. I am told that the Bankers Club, Thrissur is one of the oldest and the largest in Ke
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Mr Joseph, Mr Jayakumar, Mr Hareesh Babu, Mr John, distinguished ladies and gentlemen, it is a pleasure to be addressing the bankers in this beautiful city of Thrissur, often called the cultural capital of Kerala. From the bankers' perspective it can well be called the banking capital of Kerala, as three banks are head-quartered in Thrissur and a fourth in the adjoining town of Aluva. I am told that the Bankers Club, Thrissur is one of the oldest and the largest in Ke
అక్టో 22, 2012
Gauging the Potential of Emerging Markets – Can growth be achieved with Durable Financial Stability
Ms. Henny Sender, Chief Correspondent, International Finance, Financial Times and moderator for the panel discussion, my co-panelists, Mr. Bunt Ghosh, Head of Emerging Market Strategy for Asset Management, Credit Suisse; Mr. Sunil Godhwani, CMD, Religare Enterprises; Mr. Sizwe Nxasana, CEO, First Rand Group; Dr. Rana Kapoor, Founder, Managing Director and CEO, Yes Bank; other delegates and members of print and electronic media. A very good afternoon to you all. 2. Whi
Shri Anand Sinha, Deputy Governor, Reserve Bank of India
Ms. Henny Sender, Chief Correspondent, International Finance, Financial Times and moderator for the panel discussion, my co-panelists, Mr. Bunt Ghosh, Head of Emerging Market Strategy for Asset Management, Credit Suisse; Mr. Sunil Godhwani, CMD, Religare Enterprises; Mr. Sizwe Nxasana, CEO, First Rand Group; Dr. Rana Kapoor, Founder, Managing Director and CEO, Yes Bank; other delegates and members of print and electronic media. A very good afternoon to you all. 2. Whi
అక్టో 18, 2012
Managing Currency and Interest Rate Risks – New Challenges for Banks & Corporates
It is a pleasure to be here at the 2nd FT-Yes Bank International Banking Summit amidst a very distinguished set of panellists and audience. I must compliment the organisers for selecting a very wide range of subjects – subjects which are as varied as they are topical in the world as we live in today - for discussions. The subject for this session “Managing currency and interest rate risks – new challenges for banks and corporations” is very relevant in the post crisis
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
It is a pleasure to be here at the 2nd FT-Yes Bank International Banking Summit amidst a very distinguished set of panellists and audience. I must compliment the organisers for selecting a very wide range of subjects – subjects which are as varied as they are topical in the world as we live in today - for discussions. The subject for this session “Managing currency and interest rate risks – new challenges for banks and corporations” is very relevant in the post crisis
అక్టో 18, 2012
Social Banking and Finance – Opportunities in Inclusion
Mr. James Crabtree, Mumbai Correspondent, Financial Times and moderator for the session, my fellow panellists Mr. Y.M. Deosthalee, CMD L&T Finance; Mr. Ajai Kumar, CMD Corporation Bank; Mr. M.V. Tanksale, CMD Central Bank of India; Mr. R.V. Verma, CMD National Housing Bank; Mr. Ajay Desai, Chief Financial Inclusion Officer, Yes Bank and Mr. Leonardo Rubattu, General Manager, Iccrea Banca; other important people sitting in the audience specially Dr. Rana Kapoor, Fo
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mr. James Crabtree, Mumbai Correspondent, Financial Times and moderator for the session, my fellow panellists Mr. Y.M. Deosthalee, CMD L&T Finance; Mr. Ajai Kumar, CMD Corporation Bank; Mr. M.V. Tanksale, CMD Central Bank of India; Mr. R.V. Verma, CMD National Housing Bank; Mr. Ajay Desai, Chief Financial Inclusion Officer, Yes Bank and Mr. Leonardo Rubattu, General Manager, Iccrea Banca; other important people sitting in the audience specially Dr. Rana Kapoor, Fo
అక్టో 15, 2012
Corporate Debt Market: Developments, Issues & Challenges
It is an honour to address the distinguished participants of the 9th Annual Conference on Capital Markets (CAPAM 2012) on an issue which is attracting a lot of attention of the policy-makers and market participants – the corporate debt market. Deeper and broader financial markets are desirable for public policy objectives as they play a critical role in improving the efficiency of capital allocation within the economy. Capital market comprising equity and debt market
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
It is an honour to address the distinguished participants of the 9th Annual Conference on Capital Markets (CAPAM 2012) on an issue which is attracting a lot of attention of the policy-makers and market participants – the corporate debt market. Deeper and broader financial markets are desirable for public policy objectives as they play a critical role in improving the efficiency of capital allocation within the economy. Capital market comprising equity and debt market
అక్టో 10, 2012
Welcoming Ben Bernanke
Photographs I am delighted to welcome Chairman Ben Bernanke to the Reserve Bank and to this meeting with the Top Management Group of RBI. 2. It would be presumptuous on my part to introduce a legendary personality like Ben Bernanke, especially to a gathering of central bank staff. I will do so nevertheless, if only to pay homage to a tradition. Crisis - An Intellectual Challenge 3. As we all know, the crisis was an intellectual challenge as it called into question man
Dr. D. Subbarao, Governor, Reserve Bank of India
Photographs I am delighted to welcome Chairman Ben Bernanke to the Reserve Bank and to this meeting with the Top Management Group of RBI. 2. It would be presumptuous on my part to introduce a legendary personality like Ben Bernanke, especially to a gathering of central bank staff. I will do so nevertheless, if only to pay homage to a tradition. Crisis - An Intellectual Challenge 3. As we all know, the crisis was an intellectual challenge as it called into question man
అక్టో 09, 2012
Strengthening SMEs Capabilities for Global Competitiveness
Shri Govind Sankaranarayanan, Member of Banking, Finance and Economics Committee of Bombay Chamber of Commerce and Industry and CFO & CEO (Corporate Affairs) Tata Capital Ltd.; Shri R. Balaji, Head, Strategy and Marketing, Mahindra Finance; Shri Pralay Mondal, Senior Group President, Yes Bank; members of the Bombay Chambers, assembled guests, ladies and gentlemen. It is, indeed, a matter of great pleasure for me to be present here today at this interactive session
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri Govind Sankaranarayanan, Member of Banking, Finance and Economics Committee of Bombay Chamber of Commerce and Industry and CFO & CEO (Corporate Affairs) Tata Capital Ltd.; Shri R. Balaji, Head, Strategy and Marketing, Mahindra Finance; Shri Pralay Mondal, Senior Group President, Yes Bank; members of the Bombay Chambers, assembled guests, ladies and gentlemen. It is, indeed, a matter of great pleasure for me to be present here today at this interactive session
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