Speeches - ربی - Reserve Bank of India
Speeches & Interviews
Speeches & Media Interactions
Monetary Policy Statement by Shri Shaktikanta Das, RBI Governor June 07, 2024
Speeches
يناير 11, 2017
Macro and Micro Drivers of Business Potential of IFSCs in India
A. Introduction 1. We are gathered here today to commemorate the establishment and success of GIFT, India’s first International Financial Services Centre (IFSC) that brings together world class infrastructure, connectivity, people and technology on a single platform for businesses across the world. An all-inclusive and modern economic zone, it offers global firms competitive access to India’s large and burgeoning demand for financial services. 2. International Financi
Dr. Urjit R. Patel, Governor, Reserve Bank of India
A. Introduction 1. We are gathered here today to commemorate the establishment and success of GIFT, India’s first International Financial Services Centre (IFSC) that brings together world class infrastructure, connectivity, people and technology on a single platform for businesses across the world. An all-inclusive and modern economic zone, it offers global firms competitive access to India’s large and burgeoning demand for financial services. 2. International Financi
نوفمبر 28, 2016
Issues in Infrastructure Financing in India
I am happy to be here at ASSOCHAM’s Sixth International Summit on Infrastructure financing. Infrastructure plays a crucial role in economic development of a country. In India, too like many other countries, Infrastructure development is a critical aspect of our growth strategy and therefore, the sector gets the importance from all stakeholders commensurate with that role. As you may be aware, Government has announced the target of Rs 25 trillion (US$ 376.53 billion) i
Shri N.S. Vishwanathan, Deputy Governor, Reserve Bank of India
I am happy to be here at ASSOCHAM’s Sixth International Summit on Infrastructure financing. Infrastructure plays a crucial role in economic development of a country. In India, too like many other countries, Infrastructure development is a critical aspect of our growth strategy and therefore, the sector gets the importance from all stakeholders commensurate with that role. As you may be aware, Government has announced the target of Rs 25 trillion (US$ 376.53 billion) i
نوفمبر 24, 2016
Pioneering Best Practices in Banking: India’s Record
Good evening! 2. In the post-crisis era, the international thinking on banking and finance stands fundamentally changed. Not only did the crisis shake the confidence of all stakeholders in the international financial system but also compelled the regulators and policy makers to review whether their policy framework was sound enough to prevent the outbreak of another crisis of a similar magnitude. From the global consultations, emerged newer and more refined norms of p
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Good evening! 2. In the post-crisis era, the international thinking on banking and finance stands fundamentally changed. Not only did the crisis shake the confidence of all stakeholders in the international financial system but also compelled the regulators and policy makers to review whether their policy framework was sound enough to prevent the outbreak of another crisis of a similar magnitude. From the global consultations, emerged newer and more refined norms of p
أكتوبر 24, 2016
Evolution of Payment Systems in India: Or is it a Revolution?
It gives me great pleasure and pride to be addressing at the Banaras Hindu University, an institution which has been in the service of the nation for 100 years; more so because this institution has been deeply intertwined with freedom movement and freedom leaders like Pandit Madanmohan Malaviya. I am thankful to the Vice Chancellor Prof Tripathi for giving me this opportunity. 2. Today, I intend to discuss with you all about a silent revolution that has been sweeping
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
It gives me great pleasure and pride to be addressing at the Banaras Hindu University, an institution which has been in the service of the nation for 100 years; more so because this institution has been deeply intertwined with freedom movement and freedom leaders like Pandit Madanmohan Malaviya. I am thankful to the Vice Chancellor Prof Tripathi for giving me this opportunity. 2. Today, I intend to discuss with you all about a silent revolution that has been sweeping
سبتمبر 30, 2016
Setting The Priorities Right
At the outset, I would like to thank Ms. Bhattacharya and State Bank of India for inviting me to speak at this important and eagerly awaited event on the annual calendar. It is a privilege to speak before this august gathering. In context of the theme of the conference i.e. “Laying the Foundations for India’s Growth”, I would say that there are reasons to be optimistic on several fronts: Growth, inflation, demography, entrepreneurship, democracy, political stability,
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
At the outset, I would like to thank Ms. Bhattacharya and State Bank of India for inviting me to speak at this important and eagerly awaited event on the annual calendar. It is a privilege to speak before this august gathering. In context of the theme of the conference i.e. “Laying the Foundations for India’s Growth”, I would say that there are reasons to be optimistic on several fronts: Growth, inflation, demography, entrepreneurship, democracy, political stability,
سبتمبر 28, 2016
Financial Stability in a Weak Global Environment
At the outset, I extend a very warm welcome to Dr. Hans Genberg, Executive Director, the SEACEN Centre and all the participants of the 7th SEACEN High Level Seminar for Deputy Governors, Financial Stability and Supervision [DG (FSS)] and the delegates of the 7th Annual SEACEN DG Meeting (FSS). It is, indeed, a matter of great honour and privilege for the Reserve Bank of India to host this Seminar and the Annual Meet. The theme of the seminar, “Financial Stability in a
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
At the outset, I extend a very warm welcome to Dr. Hans Genberg, Executive Director, the SEACEN Centre and all the participants of the 7th SEACEN High Level Seminar for Deputy Governors, Financial Stability and Supervision [DG (FSS)] and the delegates of the 7th Annual SEACEN DG Meeting (FSS). It is, indeed, a matter of great honour and privilege for the Reserve Bank of India to host this Seminar and the Annual Meet. The theme of the seminar, “Financial Stability in a
سبتمبر 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
سبتمبر 24, 2016
Financial Inclusion in India – The Journey so far and the Way Ahead
Shri Santhosh Kumar Gangwarji, Honorable Minister of State for Finance, Government of India; Shri Ashwani Kumar, Chairman, IBA & CMD, Dena Bank; Shri Rajiv Rishi, Deputy Chairman, IBA & CMD, Central Bank of India; Dr. Madnesh Kumar Mishra, JS(DFS) & Mission Director-Financial Inclusion, GOI; delegates to the Workshop; ladies and gentleman! At the outset, I would like to compliment Department of Financial services, GOI and IBA for organizing this workshop o
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Shri Santhosh Kumar Gangwarji, Honorable Minister of State for Finance, Government of India; Shri Ashwani Kumar, Chairman, IBA & CMD, Dena Bank; Shri Rajiv Rishi, Deputy Chairman, IBA & CMD, Central Bank of India; Dr. Madnesh Kumar Mishra, JS(DFS) & Mission Director-Financial Inclusion, GOI; delegates to the Workshop; ladies and gentleman! At the outset, I would like to compliment Department of Financial services, GOI and IBA for organizing this workshop o
سبتمبر 07, 2016
Asset Quality of Indian Banks: Way Forward
The Indian banks in general, and the Public Sector Banks (PSBs) in particular, are grappling with the huge stock of stressed assets that has piled up in the system over the years. Any amount of discussion on the whys and what of stressed assets would therefore never be enough, if it enables us to discern what led to this phenomenal build-up of non-performing assets (NPAs) in our system and determine what we should do to solve them, and identify what could be done diff
Shri N.S. Vishwanathan, Deputy Governor, Reserve Bank of India
The Indian banks in general, and the Public Sector Banks (PSBs) in particular, are grappling with the huge stock of stressed assets that has piled up in the system over the years. Any amount of discussion on the whys and what of stressed assets would therefore never be enough, if it enables us to discern what led to this phenomenal build-up of non-performing assets (NPAs) in our system and determine what we should do to solve them, and identify what could be done diff
سبتمبر 07, 2016
Information Technology & Cyber Risk in Banking Sector – The Emerging Fault lines
Good Morning! At the outset, I would like to compliment CAFRAL for organizing this International Seminar on Cyber Risk and Mitigation for banks and FIs, a topic which has assumed centre stage, not only in India but globally. Let me begin by quoting John Chambers, former CEO of CISCO, who famously summed up the significance of cyber risk for the enterprises thus: “There are only two types of organisations, one who have been hacked and others who don’t know that they ha
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Good Morning! At the outset, I would like to compliment CAFRAL for organizing this International Seminar on Cyber Risk and Mitigation for banks and FIs, a topic which has assumed centre stage, not only in India but globally. Let me begin by quoting John Chambers, former CEO of CISCO, who famously summed up the significance of cyber risk for the enterprises thus: “There are only two types of organisations, one who have been hacked and others who don’t know that they ha
سبتمبر 03, 2016
The Independence of the Central Bank
Good afternoon. It is great to be invited to speak at St. Stephen's College. In 1980, I toyed with the idea of joining my best friends in applying for admission to the BA in Economics here. Because I had worked so hard for the IIT exam, however, I succumbed to the sunk cost fallacy and studied Electrical Engineering. I don’t regret a moment of that misspent youth but I hope you will grant me temporary membership of your club today! Over the last few weeks, I have outl
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Good afternoon. It is great to be invited to speak at St. Stephen's College. In 1980, I toyed with the idea of joining my best friends in applying for admission to the BA in Economics here. Because I had worked so hard for the IIT exam, however, I succumbed to the sunk cost fallacy and studied Electrical Engineering. I don’t regret a moment of that misspent youth but I hope you will grant me temporary membership of your club today! Over the last few weeks, I have outl
أغسطس 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
أغسطس 24, 2016
Banking Sector Reforms: A Journey, Not a Destination
Dignitaries on the dais; colleagues from the banking and financial sector; members of the print and electronic media; ladies and gentlemen! At the outset I thank the Management of the Governance Now, one of the country’s leading publications shaping the public opinion on governance and public policy, for inviting me to deliver the inaugural address at this India Banking Reforms Conclave 2016. I feel this conclave comes at a very important juncture for the economy and
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Dignitaries on the dais; colleagues from the banking and financial sector; members of the print and electronic media; ladies and gentlemen! At the outset I thank the Management of the Governance Now, one of the country’s leading publications shaping the public opinion on governance and public policy, for inviting me to deliver the inaugural address at this India Banking Reforms Conclave 2016. I feel this conclave comes at a very important juncture for the economy and
أغسطس 23, 2016
ABCD of MSME Credit
Thank you for inviting me to deliver the keynote address at this second edition of the Conference on MSME Funding. I compliment the CII for having chosen a very relevant theme for the Conference ‘Propelling MSME Growth through Enhanced Financial Access and Support’. The theme lays emphasis on two crucial pillars that are pertinent for the sector i.e. enhancing financial access and ensuring adequate support to enable MSMEs to attain faster growth. 2. It is universally
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Thank you for inviting me to deliver the keynote address at this second edition of the Conference on MSME Funding. I compliment the CII for having chosen a very relevant theme for the Conference ‘Propelling MSME Growth through Enhanced Financial Access and Support’. The theme lays emphasis on two crucial pillars that are pertinent for the sector i.e. enhancing financial access and ensuring adequate support to enable MSMEs to attain faster growth. 2. It is universally
أغسطس 18, 2016
New paradigm in Banking : Banking is Necessary, Not Banks - Really?
“Banking is necessary, but banks are not”, I am quoting here Bill Gates, what he said as Chairman, Microsoft, way back in 1994. Today, after twenty two years, has his prediction or forewarning come true? I intend to explore this in today’s discussion with you. 2. It is usual for many of us who lecture others to say ‘We are at cross roads’, ‘The Paradigm shifts that are staring us’ etc. That’s because it takes time to discern the trends that are taking place in any sec
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
“Banking is necessary, but banks are not”, I am quoting here Bill Gates, what he said as Chairman, Microsoft, way back in 1994. Today, after twenty two years, has his prediction or forewarning come true? I intend to explore this in today’s discussion with you. 2. It is usual for many of us who lecture others to say ‘We are at cross roads’, ‘The Paradigm shifts that are staring us’ etc. That’s because it takes time to discern the trends that are taking place in any sec
أغسطس 16, 2016
Interesting, Profitable, and Challenging: Banking in India Today
Thank you for inviting me to give this address to the FICCI-IBA Annual Global Banking Conference. Perhaps the most important issue on the minds of bankers, given the results season, is the Asset Quality Review initiated in early 2015-16. It has improved recognition of NPAs and provisioning in banks enormously, and many of you have fully imbibed the spirit of the review. Some banks have taken significant steps in recognizing incipient stress early. Now focus should mov
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Thank you for inviting me to give this address to the FICCI-IBA Annual Global Banking Conference. Perhaps the most important issue on the minds of bankers, given the results season, is the Asset Quality Review initiated in early 2015-16. It has improved recognition of NPAs and provisioning in banks enormously, and many of you have fully imbibed the spirit of the review. Some banks have taken significant steps in recognizing incipient stress early. Now focus should mov
أغسطس 16, 2016
Banking Horizon: Clouds & Silver Linings - presentation by S. S. Mundra, Deputy Governor - August 16, 2016 - at the FIBAC 2016 organized jointly by IBA and FICCI BCSBI, Mumbai
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
يوليو 29, 2016
Targeted Attacks: Protection of Critical Infrastructure of the Country & Capacity Building
I am indeed glad to be present here today as we conclude the deliberations on an important topical area – pertaining to cyber security and protection of critical infrastructure from cyber threats, coupled with capacity building in this crucial area of importance. I must congratulate the organisers on having chosen the theme of this summit, given the concerns emanating from cyber security related incidents. 2. We are at a critical juncture in the world of today which i
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
I am indeed glad to be present here today as we conclude the deliberations on an important topical area – pertaining to cyber security and protection of critical infrastructure from cyber threats, coupled with capacity building in this crucial area of importance. I must congratulate the organisers on having chosen the theme of this summit, given the concerns emanating from cyber security related incidents. 2. We are at a critical juncture in the world of today which i
يوليو 26, 2016
Policy and Evidence
Good morning. It is a pleasure to welcome learned statisticians and economists from across the world to this Statistics Day celebration at the RBI. I am sure you will spend the day discussing advances in the fields of economics and statistics. These discussions will be very valuable. We certainly need to improve the quality and timeliness of our statistics, and big data can be very helpful. What I want to talk about this morning is, however, not the quality or timelin
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Good morning. It is a pleasure to welcome learned statisticians and economists from across the world to this Statistics Day celebration at the RBI. I am sure you will spend the day discussing advances in the fields of economics and statistics. These discussions will be very valuable. We certainly need to improve the quality and timeliness of our statistics, and big data can be very helpful. What I want to talk about this morning is, however, not the quality or timelin
يوليو 19, 2016
Information Technology – New Gauntlets for Banks (Shri R. Gandhi, Deputy Governor - July 18, 2016 - at the 12th IDRBT Banking Technology Excellence Awards, Hyderabad)
Honourable Governor Dr Raghuram Rajan, members of the Governing Council of IDRBT, Chiefs of banks, Heads of IT departments of banks, Director, IDRBT, Faculty members, students, Ladies and Gentlemen. It gives me great pleasure to be present at the 12th IDRBT Banking Technology Awards. 2. I am glad to be back to be directly dealing with the subject of technology yet another time. I have the unique honour of having been and being associated with IDRBT in every possible r
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Honourable Governor Dr Raghuram Rajan, members of the Governing Council of IDRBT, Chiefs of banks, Heads of IT departments of banks, Director, IDRBT, Faculty members, students, Ladies and Gentlemen. It gives me great pleasure to be present at the 12th IDRBT Banking Technology Awards. 2. I am glad to be back to be directly dealing with the subject of technology yet another time. I have the unique honour of having been and being associated with IDRBT in every possible r
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