Speeches - আৰবিআই - Reserve Bank of India
Speeches & Media Interactions
Monetary Policy Statement by Shri Shaktikanta Das, RBI Governor October 09, 2024
Speeches
এপ্ৰিল 23, 2009
Global Financial Crisis : Causes, Impact, Policy Responses and Lessons
Global Financial Crisis : Causes, Consequences and India’s Prospects By Rakesh Mohan, Deputy Governor, Reserve Bank of India at London Business School on April 23, 2009 The intensification of the global financial crisis, following the bankruptcy of Lehman Brothers in September 2008, has made the current economic and financial environment a very difficult time for the world economy, the global financial system and for central banks. The fall out of the current global f
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Global Financial Crisis : Causes, Consequences and India’s Prospects By Rakesh Mohan, Deputy Governor, Reserve Bank of India at London Business School on April 23, 2009 The intensification of the global financial crisis, following the bankruptcy of Lehman Brothers in September 2008, has made the current economic and financial environment a very difficult time for the world economy, the global financial system and for central banks. The fall out of the current global f
মাৰ্চ 26, 2009
India - Managing the Impact of the Global Financial Crisis
Introduction 1. Less than a year ago, much of what has happened in the Indian economy since last October would have been hard to anticipate. I recall, around this time last year, the most frequently asked questions (FAQs) were, what are the factors that put India on a high growth trajectory and what can we do to remain there? Today, the FAQ is, when and how do we get back on to the high growth trajectory? The sharp turn around in the FAQs summarizes in a nutshell the
Dr. D. Subbarao, Governor, Reserve Bank of India
Introduction 1. Less than a year ago, much of what has happened in the Indian economy since last October would have been hard to anticipate. I recall, around this time last year, the most frequently asked questions (FAQs) were, what are the factors that put India on a high growth trajectory and what can we do to remain there? Today, the FAQ is, when and how do we get back on to the high growth trajectory? The sharp turn around in the FAQs summarizes in a nutshell the
ফেব্ৰু 18, 2009
Impact of the Global Financial Crisis on India Collateral Damage and Response
Global outlook 1. The global economic outlook deteriorated sharply over the last quarter. In a sign of the ferocity of the down turn, the IMF made a marked downward revision of its estimate for global growth in 2009 in purchasing power parity terms – from its forecast of 3.0 per cent made in October 2008 to 0.5 per cent in January 2009. In market exchange rate terms, the downturn is sharper – global GDP is projected to actually shrink by 0.6 per cent. With all the adv
Dr. D. Subbarao, Governor, Reserve Bank of India
Global outlook 1. The global economic outlook deteriorated sharply over the last quarter. In a sign of the ferocity of the down turn, the IMF made a marked downward revision of its estimate for global growth in 2009 in purchasing power parity terms – from its forecast of 3.0 per cent made in October 2008 to 0.5 per cent in January 2009. In market exchange rate terms, the downturn is sharper – global GDP is projected to actually shrink by 0.6 per cent. With all the adv
ডিচে 18, 2008
The Global Financial Turmoil and Challenges for the Indian Economy
It is my pleasure to be here this evening and to be able to share my thoughts with an exclusive gathering of bankers. Since this is an in-house meeting and we are professional colleagues, I propose to be frank and forthright. I am glad to know that the Bankers' Club in Kolkata has been recently revived and is engaged in promoting professional interaction within the banking community. 2. The global financial crisis is now the staple of front page news. Banks around the
Dr. D. Subbarao, Governor, Reserve Bank of India
It is my pleasure to be here this evening and to be able to share my thoughts with an exclusive gathering of bankers. Since this is an in-house meeting and we are professional colleagues, I propose to be frank and forthright. I am glad to know that the Bankers' Club in Kolkata has been recently revived and is engaged in promoting professional interaction within the banking community. 2. The global financial crisis is now the staple of front page news. Banks around the
আগ 01, 2008
Payment and Settlement System in India
Dear Friends, It is my pleasure to be here with you this afternoon at this important conclave, which seeks to articulate the vision of Indian banking in 2010. I am thankful to the organisers for affording me this opportunity to be here today and share some of my thoughts with this august audience. The Indian banking system has come a long way, particularly during the last couple of decades and continues to evolve in a myriad of ways. While, no doubt, the future contou
Shri V. Leeladhar, Deputy Governor, Reserve Bank of India
Dear Friends, It is my pleasure to be here with you this afternoon at this important conclave, which seeks to articulate the vision of Indian banking in 2010. I am thankful to the organisers for affording me this opportunity to be here today and share some of my thoughts with this august audience. The Indian banking system has come a long way, particularly during the last couple of decades and continues to evolve in a myriad of ways. While, no doubt, the future contou
জুলাই 04, 2008
Global Financial Turbulence and Financial Sector in India: A Practitioner’s Perspective
Madam Chairperson, Governor Williams, and friends, At the outset I would like to thank The Initiative for Policy Dialogue, and Professors Stiglitz, Griffith-Jones, and Ocampo for providing me this opportunity to participate and incidentally share my thoughts on the recent developments in the global financial markets and its implications for both the developing and the developed countries. My presentation will initially provide a broad overview of the global developmen
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Madam Chairperson, Governor Williams, and friends, At the outset I would like to thank The Initiative for Policy Dialogue, and Professors Stiglitz, Griffith-Jones, and Ocampo for providing me this opportunity to participate and incidentally share my thoughts on the recent developments in the global financial markets and its implications for both the developing and the developed countries. My presentation will initially provide a broad overview of the global developmen
জুলাই 02, 2008
Monetary and Regulatory Policies: How to Get the Balance with Markets Right
Chairman Jean-Pierre Roth, Governor Meirelles, distinguished economist Bill White, fellow governors and friends. It was a treat to listen to Edward Lord George’s wonderful and erudite lecture on the ‘Approach to Macroeconomic Management – How it has evolved’ and Sir Andrew Crockett’s comments, as Chairman, on Lord George’s Per Jacobson lecture and also on Lord George - “Steady Eddie” as he is warmly described. The Reserve Bank of India considers both of them as our sp
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Chairman Jean-Pierre Roth, Governor Meirelles, distinguished economist Bill White, fellow governors and friends. It was a treat to listen to Edward Lord George’s wonderful and erudite lecture on the ‘Approach to Macroeconomic Management – How it has evolved’ and Sir Andrew Crockett’s comments, as Chairman, on Lord George’s Per Jacobson lecture and also on Lord George - “Steady Eddie” as he is warmly described. The Reserve Bank of India considers both of them as our sp
জুন 05, 2008
Agriculture: Emerging Issues and Possible Approaches
His Excellency, the Governor of Andhra Pradesh and the Chancellor of Acharya N.G. Ranga Agricultural University (ANGRAU), Shri Narayan Datt Tiwari garu; Vice Chancellor, ANGRAU, Dr. P. Raghava Reddy garu; Members of the Board of Management of ANGRAU; Registrar of ANGRAU; Horticultural University Vice Chancellor, Dr. S.D. Sikhamani garu; Members of the Academic Council of Agriculture and Home Science Faculties; dear students and staff of this university, respected pare
Dr. Y. V. Reddy, Governor, Reserve Bank of India
His Excellency, the Governor of Andhra Pradesh and the Chancellor of Acharya N.G. Ranga Agricultural University (ANGRAU), Shri Narayan Datt Tiwari garu; Vice Chancellor, ANGRAU, Dr. P. Raghava Reddy garu; Members of the Board of Management of ANGRAU; Registrar of ANGRAU; Horticultural University Vice Chancellor, Dr. S.D. Sikhamani garu; Members of the Academic Council of Agriculture and Home Science Faculties; dear students and staff of this university, respected pare
মে’ 20, 2008
Indian Economy: Prospects for Growth with Stability
Mr. Gopinath Pillai, Chairman, Institute of South Asian Studies (ISAS); Mr. Heng Swee Keat, Managing Director, Monetary Authority of Singapore (MAS); Dr. Jaishankar, Honorable High Commissioner; and distinguished friends. I deeply appreciate the invitation from the ISAS to address this august gathering of policy makers, eminent academics, and market participants of Singapore. Singapore is an important financial center of the world and a very special partner for India,
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Mr. Gopinath Pillai, Chairman, Institute of South Asian Studies (ISAS); Mr. Heng Swee Keat, Managing Director, Monetary Authority of Singapore (MAS); Dr. Jaishankar, Honorable High Commissioner; and distinguished friends. I deeply appreciate the invitation from the ISAS to address this august gathering of policy makers, eminent academics, and market participants of Singapore. Singapore is an important financial center of the world and a very special partner for India,
এপ্ৰিল 10, 2008
Banks' Relationship with Customers - Evolving Perspectives
I feel it a privilege to be associated with today's function as a tribute to the late Mr. M.R.Pai, the doyen of consumer activism in India. He successfully championed the cause of consumers, particularly bank depositors, during a different economic setting when the institutional dynamics were different, particularly for the public sector, and customer as a generic entity had not acquired the high pedestal in public discourses and management meetings. Times have change
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
I feel it a privilege to be associated with today's function as a tribute to the late Mr. M.R.Pai, the doyen of consumer activism in India. He successfully championed the cause of consumers, particularly bank depositors, during a different economic setting when the institutional dynamics were different, particularly for the public sector, and customer as a generic entity had not acquired the high pedestal in public discourses and management meetings. Times have change
মাৰ্চ 28, 2008
Innovation and Growth: Role of the Financial Sector
‘Accelerating productivity growth entails a matching acceleration in the potential output of goods and services and a corresponding rise in the real incomes available to purchase the new output. The problem is that the pickup in productivity tends to create even greater increases in aggregate demand than potential aggregate supply’—Alan Greenspan‘Whatever the supply side may have in store, delivering low and stable inflation—and being expected to do so—is how monetary
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
‘Accelerating productivity growth entails a matching acceleration in the potential output of goods and services and a corresponding rise in the real incomes available to purchase the new output. The problem is that the pickup in productivity tends to create even greater increases in aggregate demand than potential aggregate supply’—Alan Greenspan‘Whatever the supply side may have in store, delivering low and stable inflation—and being expected to do so—is how monetary
ডিচে 04, 2007
India's Financial Sector Reforms: Fostering Growth While Containing Risk
I am honoured to be back at Yale where I got my basic economics grounding from James Tobin, Bill Nordhaus, and Robert Evenson, among others. In all these years, this is my first lecture at Yale, so I am particularly pleased to have this opportunity. Thank you Professor Srinivasan. The turmoil in international financial markets since late July this year and the increased uncertainty that financial markets are currently experiencing have brought issues relating to finan
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I am honoured to be back at Yale where I got my basic economics grounding from James Tobin, Bill Nordhaus, and Robert Evenson, among others. In all these years, this is my first lecture at Yale, so I am particularly pleased to have this opportunity. Thank you Professor Srinivasan. The turmoil in international financial markets since late July this year and the increased uncertainty that financial markets are currently experiencing have brought issues relating to finan
নৱে 13, 2007
Financial Sector Policies for growth and employment
Respected Soedradjad Djiwandono, Governor Abdullah, fellow Governors and distinguished participants,I am thankful to Governor Burhanuddin Abdullah for inviting me to participate in the Annual International Seminar 2007. We deeply appreciate the excellent arrangements, warmth and hospitality of Bank Indonesia. In particular, special thanks are due to Deputy Governor, Ms. Miranda Goeltom. I also sincerely appreciate the thoughtful selection of the topics for discussion
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Respected Soedradjad Djiwandono, Governor Abdullah, fellow Governors and distinguished participants,I am thankful to Governor Burhanuddin Abdullah for inviting me to participate in the Annual International Seminar 2007. We deeply appreciate the excellent arrangements, warmth and hospitality of Bank Indonesia. In particular, special thanks are due to Deputy Governor, Ms. Miranda Goeltom. I also sincerely appreciate the thoughtful selection of the topics for discussion
নৱে 12, 2007
Fasten Your Seatbelts ! Monetary Policy Challenges In Turbulent Times
Governor Reddy, Deputy Governors of the Reserve Bank of India Honoured Guests The Consul General of the Republic of South Africa Members of the India-South Africa Business Forum Ladies and Gentleman Introduction The “Great Moderation“ Improved macroeconomic performance: some side-effects The role of monetary policy Global financial market integration Conclusion 1. IntroductionThank you for your kind invitation. I am delighted to be in India for the first time at this
Mr T.T. Mboweni, Governor of the South African Reserve Bank
Governor Reddy, Deputy Governors of the Reserve Bank of India Honoured Guests The Consul General of the Republic of South Africa Members of the India-South Africa Business Forum Ladies and Gentleman Introduction The “Great Moderation“ Improved macroeconomic performance: some side-effects The role of monetary policy Global financial market integration Conclusion 1. IntroductionThank you for your kind invitation. I am delighted to be in India for the first time at this
নৱে 02, 2007
Evolving role of the Reserve Bank of India: Recent Developments
Respected Professor Vyas, distinguished participants, ladies and gentlemen, I am indeed thankful to the Institute of Development Studies and Professor Vyas for providing me this opportunity to share my thoughts with you today on the “Evolving role of the Reserve Bank of India: Recent Developments”. My association with Professor Vyas has been long, but it became closer since November 2000, when he was appointed as a director on the Central Board of the Reserve Bank of
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Respected Professor Vyas, distinguished participants, ladies and gentlemen, I am indeed thankful to the Institute of Development Studies and Professor Vyas for providing me this opportunity to share my thoughts with you today on the “Evolving role of the Reserve Bank of India: Recent Developments”. My association with Professor Vyas has been long, but it became closer since November 2000, when he was appointed as a director on the Central Board of the Reserve Bank of
অক্টো 25, 2007
Policy Panel at the NBER Conference on International Dimensions of Monetary Policy
Monetary Management in Emerging Market Economies: Concerns and Dilemmas Introduction Thank you Marty for inviting me: it has been a humbling experience in finding out how much I don't know about monetary policy making, and why I need to go back to graduate school.In these 7 minutes I will try and present the key dilemmas we are facing in India, but which I believe almost all the developing countries in Asia are facing. The result is that none of us are really f
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Monetary Management in Emerging Market Economies: Concerns and Dilemmas Introduction Thank you Marty for inviting me: it has been a humbling experience in finding out how much I don't know about monetary policy making, and why I need to go back to graduate school.In these 7 minutes I will try and present the key dilemmas we are facing in India, but which I believe almost all the developing countries in Asia are facing. The result is that none of us are really f
ছেপ্তে 20, 2007
Recent Financial Market Developments And Implications For Monetary Policy
Shri Bhatt, Mr Horiguchi, Ladies and Gentlemen, I am honoured to be invited to deliver the valedictory address at the Asia Regional Economic Forum. The relationship between India and the Institute of International Finance (IIF) goes back a long way to the early 1990s. Therefore, it is only befitting that the IIF has chosen to inaugurate the Asia Regional Economic Forum in Mumbai as an opportunity for the informal exchange of
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Shri Bhatt, Mr Horiguchi, Ladies and Gentlemen, I am honoured to be invited to deliver the valedictory address at the Asia Regional Economic Forum. The relationship between India and the Institute of International Finance (IIF) goes back a long way to the early 1990s. Therefore, it is only befitting that the IIF has chosen to inaugurate the Asia Regional Economic Forum in Mumbai as an opportunity for the informal exchange of
ছেপ্তে 07, 2007
Monetary Policy Developments in India: An Overview
Friends,I am honored by the kind invitation of Governor Stefan Ingves to visit Riksbank and give an address at the central bank. It is a great privilege to address an august gathering in the oldest central bank in the world, Riksbank. I came in close contact with Governor Ingves when he was working with the IMF. As a Director in the Executive Board of IMF, I have been an admirer of Mr. Ingves when he headed the Monetary and Exchange Affairs Department, which has now b
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Friends,I am honored by the kind invitation of Governor Stefan Ingves to visit Riksbank and give an address at the central bank. It is a great privilege to address an august gathering in the oldest central bank in the world, Riksbank. I came in close contact with Governor Ingves when he was working with the IMF. As a Director in the Executive Board of IMF, I have been an admirer of Mr. Ingves when he headed the Monetary and Exchange Affairs Department, which has now b
আগ 03, 2007
First Quarter Review of Monetary Policy: Underlying Macroeconomics
Shri Bhatt and distinguished participants, I am deeply honoured to be invited to deliver the valedictory address at the High Powered Macroeconomic Workshop organised by the State Bank of India. I am particularly gratified that this Workshop has become a reality, since its genesis is in the extremely useful discussions that we in the Reserve Bank of India had with the Indian Banks’ Association as part of pre-Annual Policy consultations held in April this year. Th
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Shri Bhatt and distinguished participants, I am deeply honoured to be invited to deliver the valedictory address at the High Powered Macroeconomic Workshop organised by the State Bank of India. I am particularly gratified that this Workshop has become a reality, since its genesis is in the extremely useful discussions that we in the Reserve Bank of India had with the Indian Banks’ Association as part of pre-Annual Policy consultations held in April this year. Th
জুন 21, 2007
Financial Inclusion – The Indian Experience
Ladies and gentlemen,I thank Her Majesty’s Treasury and DFID for organising this conference and inviting the Reserve Bank of India to share India’s experiences in achieving greater financial inclusion (FI). We, in India, have been greatly impressed by the focused attention being paid by the UK Government to the subject of FI. I had read a very detailed report by the British Banker’s Association in 2000 dwelling upon the issues involved in providing greater acces
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
Ladies and gentlemen,I thank Her Majesty’s Treasury and DFID for organising this conference and inviting the Reserve Bank of India to share India’s experiences in achieving greater financial inclusion (FI). We, in India, have been greatly impressed by the focused attention being paid by the UK Government to the subject of FI. I had read a very detailed report by the British Banker’s Association in 2000 dwelling upon the issues involved in providing greater acces
জুন 20, 2007
Risk Management in an Open Market Economy
Peter L. Bernstein in his celebrated book Against the Gods writes, 'The revolutionary idea that defines the boundary between modern times and the past is the mastery of risk: the notion that the future is more than a whim of the Gods and that men and women are not passive before nature. Until human beings discovered a way across that boundary, the future was a mirror of the past or the murky domain of oracles and soothsayers who held monopoly over knowledge of anticip
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Peter L. Bernstein in his celebrated book Against the Gods writes, 'The revolutionary idea that defines the boundary between modern times and the past is the mastery of risk: the notion that the future is more than a whim of the Gods and that men and women are not passive before nature. Until human beings discovered a way across that boundary, the future was a mirror of the past or the murky domain of oracles and soothsayers who held monopoly over knowledge of anticip
জুন 14, 2007
Capital Account Liberalisation and Conduct of Monetary Policy: The Indian Experience – Paper Presented by Dr. Rakesh Mohan
I. Overall Approach The distinguishing feature of our overall reform process initiated in the early 1990s has been the accomplishment of high economic growth in an environment of macro economic and financial stability. In fact, we have achieved acceleration in growth while maintaining price and financial stability. During this period, apart from all the other reforms, we have achieved current account convertibility, and also opened the capital account to a substantial
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I. Overall Approach The distinguishing feature of our overall reform process initiated in the early 1990s has been the accomplishment of high economic growth in an environment of macro economic and financial stability. In fact, we have achieved acceleration in growth while maintaining price and financial stability. During this period, apart from all the other reforms, we have achieved current account convertibility, and also opened the capital account to a substantial
জুন 05, 2007
The Growing Influence of the Emerging World
Mr. Chairman, Governor Redrado, Chairman Ignatiev and distinguished participants,I am honoured by the kind invitation of Governor Redrado to visit Argentina and participate in the Annual Money and Banking Seminar at the Central Bank of Argentina with focus on ‘monetary policy under uncertainty’. I must compliment Governor Martin Redrado for assembling a galaxy of central bank Governors, leading market analysts and globally renowned academics. The assemblage is a tribu
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Mr. Chairman, Governor Redrado, Chairman Ignatiev and distinguished participants,I am honoured by the kind invitation of Governor Redrado to visit Argentina and participate in the Annual Money and Banking Seminar at the Central Bank of Argentina with focus on ‘monetary policy under uncertainty’. I must compliment Governor Martin Redrado for assembling a galaxy of central bank Governors, leading market analysts and globally renowned academics. The assemblage is a tribu
মে’ 28, 2007
India – Perspective for Growth with Stability
Professor Sakakibara, Governor Fukui, Ambassador Singh and the distinguished participants, I am honoured to be invited at the 'Symposium on Current India' organised by the Waseda University Institute for Indian Economic Studies. I am grateful to Professor Sakakibara, a globally distinguished economic statesman, for inviting me to be here. It is also a privilege to share a platform with universally respected Governor Fukui. There are strong complementarities in the eco
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Professor Sakakibara, Governor Fukui, Ambassador Singh and the distinguished participants, I am honoured to be invited at the 'Symposium on Current India' organised by the Waseda University Institute for Indian Economic Studies. I am grateful to Professor Sakakibara, a globally distinguished economic statesman, for inviting me to be here. It is also a privilege to share a platform with universally respected Governor Fukui. There are strong complementarities in the eco
মে’ 16, 2007
Development of Financial Markets in India
I am delighted to have the opportunity of speaking on the issue of development of financial markets along with Mr. Christian Noyer, Governor of the Banque de France. He has displayed a deep commitment to the development of financial markets over the years and we heard a very thoughtful speech from him on this subject at the Reserve Bank just two days ago. His approach to financial markets is marked by a great degree of pragmatism: as we develop financial m
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I am delighted to have the opportunity of speaking on the issue of development of financial markets along with Mr. Christian Noyer, Governor of the Banque de France. He has displayed a deep commitment to the development of financial markets over the years and we heard a very thoughtful speech from him on this subject at the Reserve Bank just two days ago. His approach to financial markets is marked by a great degree of pragmatism: as we develop financial m
মাৰ্চ 19, 2007
Globalisation and Monetary Policy : Some Emerging Issues
Professor Radhakrishna, Professor Eichenbaun, Professor Rebelo, Professor Christiano, Professor Nachane, Dr. Rakesh Mohan and friends,Happy New Year to all of you. For Dr. Rakesh Mohan, it is a holiday issue, as he described. For me, it is a festival issue also, since I am a Telugu. So, my address will be in the form of sharing of the festive mood also. As you may be aware, today is a festival celebrated as New Year by the State of Maharashtra, and is called Gudipadwa
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Professor Radhakrishna, Professor Eichenbaun, Professor Rebelo, Professor Christiano, Professor Nachane, Dr. Rakesh Mohan and friends,Happy New Year to all of you. For Dr. Rakesh Mohan, it is a holiday issue, as he described. For me, it is a festival issue also, since I am a Telugu. So, my address will be in the form of sharing of the festive mood also. As you may be aware, today is a festival celebrated as New Year by the State of Maharashtra, and is called Gudipadwa
ফেব্ৰু 27, 2007
What RBI means to the Common Person
Friends,I am happy to be in Karamchedu Village again. Many distinguished personalities in various fields; freedom fighters; shipping magnates; scientists; poets, ministers and medical doctors have hailed from this single village. Shri Yarlagadda Ranganayakulu garu, who was an engineer by training, is one such fine personality. We met accidentally a little over thirty years ago in Hyderabad. We became friends and we attempted to do some socially useful work on several
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Friends,I am happy to be in Karamchedu Village again. Many distinguished personalities in various fields; freedom fighters; shipping magnates; scientists; poets, ministers and medical doctors have hailed from this single village. Shri Yarlagadda Ranganayakulu garu, who was an engineer by training, is one such fine personality. We met accidentally a little over thirty years ago in Hyderabad. We became friends and we attempted to do some socially useful work on several
ফেব্ৰু 13, 2007
Current Challenges to Monetary Policy Making in India
Dr. Kannan, members of the Actuarial Society of India and distinguished delegates.I am deeply honoured to be invited to address the 9th Global Conference of Actuaries today. Strong winds of change are sweeping across the Indian financial landscape. We therefore have to adapt ourselves appropriately to update our understanding of these changes. All stakeholders are involved in this silent transformation. As actuaries, your stake is significant since you will shape the
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Dr. Kannan, members of the Actuarial Society of India and distinguished delegates.I am deeply honoured to be invited to address the 9th Global Conference of Actuaries today. Strong winds of change are sweeping across the Indian financial landscape. We therefore have to adapt ourselves appropriately to update our understanding of these changes. All stakeholders are involved in this silent transformation. As actuaries, your stake is significant since you will shape the
ডিচে 18, 2006
Rural Banking: Review and Prospects
Rural Banking: Review and Prospects Dr. Kotaiah, Mrs. Nandita Ray, Mr. C. S. Reddy, Prof. Mahendra Dev and Distinguished guests, I am grateful to the organisers for giving me an opportunity to deliver the first Smarajit Ray memorial lecture. Mr. Ray, about a couple of years younger to me in age and a valued colleague in the civil service, had been one of my close friends for almost four decades. He was a self-effacing person with courage of conviction in servicing the
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Rural Banking: Review and Prospects Dr. Kotaiah, Mrs. Nandita Ray, Mr. C. S. Reddy, Prof. Mahendra Dev and Distinguished guests, I am grateful to the organisers for giving me an opportunity to deliver the first Smarajit Ray memorial lecture. Mr. Ray, about a couple of years younger to me in age and a valued colleague in the civil service, had been one of my close friends for almost four decades. He was a self-effacing person with courage of conviction in servicing the
নৱে 17, 2006
Monetary and Financial Policy Responses to Global Imbalances
DEPARTMENT OF ECONOMIC ANALYSIS AND POLICY I would like to compliment Bank Indonesia for arranging this conference on the theme "Monetary and Financial Policy Responses to Global Imbalances" at the Annual International Seminar 2006. This is an issue that has been among the top concerns of central bankers in the last few years: so the opportunity to have this discussion at this opportune time is very welcome for all of us. The issue of large global imbalances has been
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
DEPARTMENT OF ECONOMIC ANALYSIS AND POLICY I would like to compliment Bank Indonesia for arranging this conference on the theme "Monetary and Financial Policy Responses to Global Imbalances" at the Annual International Seminar 2006. This is an issue that has been among the top concerns of central bankers in the last few years: so the opportunity to have this discussion at this opportune time is very welcome for all of us. The issue of large global imbalances has been
নৱে 08, 2006
Inclusive Growth : Role of Financial Education
I thank the Indian Banks Association and hosts Andhra Bank for inviting me for this Conference. I am aware you have had illustrious speakers and expert sessions on various issues reverberating in policy conundrums of 'financial inclusion' and financially inclusive growth. Why I term these as conundrums is for the reason that on the one hand, everyone accepts that a broad based access to formal financial services is a sine qua non for the aspiration of growth in GDP an
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
I thank the Indian Banks Association and hosts Andhra Bank for inviting me for this Conference. I am aware you have had illustrious speakers and expert sessions on various issues reverberating in policy conundrums of 'financial inclusion' and financially inclusive growth. Why I term these as conundrums is for the reason that on the one hand, everyone accepts that a broad based access to formal financial services is a sine qua non for the aspiration of growth in GDP an
নৱে 04, 2006
Financial Inclusion for Sustainable Development : Role of IT and Intermediaries
My topic today is financial inclusion for sustainable development and how IT and community based organisations including NGOs can be leveraged for expanding banking outreach so as to meet the needs of the underserved population. Financial inclusion has become a buzzword internationally – even in developed financial markets there are concerns about those excluded from the banking system especially migrant workers. The barriers to access to formal banking system have be
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
My topic today is financial inclusion for sustainable development and how IT and community based organisations including NGOs can be leveraged for expanding banking outreach so as to meet the needs of the underserved population. Financial inclusion has become a buzzword internationally – even in developed financial markets there are concerns about those excluded from the banking system especially migrant workers. The barriers to access to formal banking system have be
নৱে 03, 2006
Economic Growth, Financial Deepening and Financial Inclusion
I. Introduction I would like to thank the Indian Banks Association and the Andhra Bank for inviting me to this Conference, which has become an annual feature of the calendar for bankers and financial sector professionals. In view of the theme of the conference, viz., 'Inclusive Growth – A New Challenge', I thought it would be appropriate to place financial inclusion within the broad context of economic growth. There is yet another motivation for choosing the theme. Wh
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I. Introduction I would like to thank the Indian Banks Association and the Andhra Bank for inviting me to this Conference, which has become an annual feature of the calendar for bankers and financial sector professionals. In view of the theme of the conference, viz., 'Inclusive Growth – A New Challenge', I thought it would be appropriate to place financial inclusion within the broad context of economic growth. There is yet another motivation for choosing the theme. Wh
ছেপ্তে 29, 2006
Globalisation, Money and Finance – Uncertainties and Dilemmas*
Globalisation, Money and Finance – Uncertainties and Dilemmas* Dear friends, I am honoured to be invited to deliver the valedictory address at the 2006 FICCI-IBA Conference. I would like to begin by complimenting the hosts for their choice of the theme: "Global Banking: Paradigm Shift". Many distinguished speakers have participated already in the deliberations and hence I will attempt a broader overview of globalisation issues at the current juncture. My address is on
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Globalisation, Money and Finance – Uncertainties and Dilemmas* Dear friends, I am honoured to be invited to deliver the valedictory address at the 2006 FICCI-IBA Conference. I would like to begin by complimenting the hosts for their choice of the theme: "Global Banking: Paradigm Shift". Many distinguished speakers have participated already in the deliberations and hence I will attempt a broader overview of globalisation issues at the current juncture. My address is on
ছেপ্তে 21, 2006
The Role of Financial Education: The Indian Case
Distinguished Ladies and Gentlemen, I am thankful to Shri Swarup for inviting me to this august gathering. The Conference represents an important step by the Pension Fund Regulatory and Development Authority (PFRDA) to distil from the experiences of other countries in its quest for enhancing the levels of financial education in our country. The collaboration with Organisation for Economic Co-operation and Development (OECD) which has been playing a pivotal role in thi
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Distinguished Ladies and Gentlemen, I am thankful to Shri Swarup for inviting me to this august gathering. The Conference represents an important step by the Pension Fund Regulatory and Development Authority (PFRDA) to distil from the experiences of other countries in its quest for enhancing the levels of financial education in our country. The collaboration with Organisation for Economic Co-operation and Development (OECD) which has been playing a pivotal role in thi
ছেপ্তে 07, 2006
Credit Counselling : An Indian Perspective
Mr. Chairman, distinguished guests and friends, I am thankful to Mr. Balachandran for providing this opportunity to be with this eminent gathering assembled for a noble cause. Bank of India has been among the banks known to be a pioneer in several areas of commercial banking. In this context, the initiative by the bank to establish credit counselling centers on a pilot basis highlights the pro-active role being played by our banks. In fact, a major reason for my agree
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Mr. Chairman, distinguished guests and friends, I am thankful to Mr. Balachandran for providing this opportunity to be with this eminent gathering assembled for a noble cause. Bank of India has been among the banks known to be a pioneer in several areas of commercial banking. In this context, the initiative by the bank to establish credit counselling centers on a pilot basis highlights the pro-active role being played by our banks. In fact, a major reason for my agree
আগ 24, 2006
New Economic Geography and Monetary Policy in a Flattening World*
Let me first thank Tom Hoenig and his colleagues for inviting me again to this symposium. It is always a treat to be here in more ways than one: to partake of the rich feast of insightful and interesting papers, illuminating commentaries and discussions, accompanied by the warm hospitality of the Kansas City Fed in this incomparable setting in the shadow of the majestic Tetons. It is difficult to provide an overview of this rather disparate set of sessions reflecting
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Let me first thank Tom Hoenig and his colleagues for inviting me again to this symposium. It is always a treat to be here in more ways than one: to partake of the rich feast of insightful and interesting papers, illuminating commentaries and discussions, accompanied by the warm hospitality of the Kansas City Fed in this incomparable setting in the shadow of the majestic Tetons. It is difficult to provide an overview of this rather disparate set of sessions reflecting
জুন 30, 2006
Comments of Dr. Y.V.Reddy, Governor, RBI as a panelist at the Annual General Meeting of the BIS
Financial Sector Competition and Monetary Policy : Comments* Mr. Chairman, Professor Mario Monti, Co-panellists and fellow Governors, I am honoured by the invitation to participate in the Annual General Meeting Panel in this historic and beautiful location. When I got the enquiry on my willingness to be a panelist on "The Relevance of Competition and Monetary Policy for Financial Stability" for the Per Jacobsson Foundation lecture this year, I initially felt that the
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Financial Sector Competition and Monetary Policy : Comments* Mr. Chairman, Professor Mario Monti, Co-panellists and fellow Governors, I am honoured by the invitation to participate in the Annual General Meeting Panel in this historic and beautiful location. When I got the enquiry on my willingness to be a panelist on "The Relevance of Competition and Monetary Policy for Financial Stability" for the Per Jacobsson Foundation lecture this year, I initially felt that the
জুন 28, 2006
Comments of Dr.Y.V.Reddy, Governor, RBI
On the Sources of Central Banker’s Influence over the Economy: Comments Chairman Mario Bleijer, Professor Stephen G. Cecchetti, Professor William H. Buiter, Dr Guillermo A. Calvo and fellow Governors, It is my pleasure to join the symposium and as desired by you, Mr. Chairman, offer initial informal comments on Professor Cecchetti’s paper on ‘Sources of Central Banker’s Influence over the Economy’. Professor Cecchetti first succinctly brings out the convergence of dev
Dr. Y. V. Reddy, Governor, Reserve Bank of India
On the Sources of Central Banker’s Influence over the Economy: Comments Chairman Mario Bleijer, Professor Stephen G. Cecchetti, Professor William H. Buiter, Dr Guillermo A. Calvo and fellow Governors, It is my pleasure to join the symposium and as desired by you, Mr. Chairman, offer initial informal comments on Professor Cecchetti’s paper on ‘Sources of Central Banker’s Influence over the Economy’. Professor Cecchetti first succinctly brings out the convergence of dev
জুন 03, 2006
Financial Sector Reforms and Monetary Policy: The Indian Experience
I. Introduction Since the initiation of reforms in the early 1990s, the Indian economy has achieved high growth in an environment of macroeconomic and financial stability. The period has been marked by broad based economic reform that has touched every segment of the economy. These reforms were designed essentially to promote greater efficiency in the economy through promotion of greater competition. The story of Indian reforms is by now well-documented (e.g., Ahluwal
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I. Introduction Since the initiation of reforms in the early 1990s, the Indian economy has achieved high growth in an environment of macroeconomic and financial stability. The period has been marked by broad based economic reform that has touched every segment of the economy. These reforms were designed essentially to promote greater efficiency in the economy through promotion of greater competition. The story of Indian reforms is by now well-documented (e.g., Ahluwal
মে’ 25, 2006
Monetary Policy and Exchange Rate Frameworks: The Indian Experience
I would like to congratulate the International Monetary Fund and Monetary Authority of Singapore for holding this Second High Level Seminar on Asian Financial Integration. This forum provides a good opportunity for all of us to exchange notes, ideas and views on the continuously evolving texture of the international financial architecture, particular as it affects Asia and as Asian financial growth itself impacts the rest of the world. The international financial land
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I would like to congratulate the International Monetary Fund and Monetary Authority of Singapore for holding this Second High Level Seminar on Asian Financial Integration. This forum provides a good opportunity for all of us to exchange notes, ideas and views on the continuously evolving texture of the international financial architecture, particular as it affects Asia and as Asian financial growth itself impacts the rest of the world. The international financial land
মাৰ্চ 27, 2006
Coping With Liquidity Management in India: A Practitioner's View
'Liquidity Management in India' is a subject that is not widely discussed but is the bread and butter of daily monetary management. Whereas I was not a monetary specialist prior to coming to the Reserve Bank, I have been able to gather some insights through on-the-job training. It is also an issue of current relevance and appeal. Conduct of monetary policy and management in the context of large and volatile capital flows has proved to be difficult for many countries.
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
'Liquidity Management in India' is a subject that is not widely discussed but is the bread and butter of daily monetary management. Whereas I was not a monetary specialist prior to coming to the Reserve Bank, I have been able to gather some insights through on-the-job training. It is also an issue of current relevance and appeal. Conduct of monetary policy and management in the context of large and volatile capital flows has proved to be difficult for many countries.
মাৰ্চ 14, 2006
Recent Trends in the Indian Debt Market and Current Initiatives
The Indian debt market, and the government securities market in particular, is at a turning point in India with significant changes taking place in the domestic economic environment along with various proposed legislative changes. Let me briefly touch upon the reasons why I believe we are living in interesting times and why this is an opportune time to reflect on further debt market development. The first such significant change is the prohibition of RBI’s subscriptio
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
The Indian debt market, and the government securities market in particular, is at a turning point in India with significant changes taking place in the domestic economic environment along with various proposed legislative changes. Let me briefly touch upon the reasons why I believe we are living in interesting times and why this is an opportune time to reflect on further debt market development. The first such significant change is the prohibition of RBI’s subscriptio
জানু 23, 2006
Central Bank Communications : Some Random Thoughts
Ms. Wanda Tseng, Mr. Ariyoshi, distinguished fellow central bankers and friends, At the outset, I would like to extend a hearty welcome to all our guests to India. I hope you will find the weather outside as well as the intellectual stimulation in the seminar pleasant and productive. I am thankful to the organisers for inviting me to participate in the seminar. The subject is close to our head and heart and we, in the RBI, had organized a SAARCFIN sponsored seminar la
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Ms. Wanda Tseng, Mr. Ariyoshi, distinguished fellow central bankers and friends, At the outset, I would like to extend a hearty welcome to all our guests to India. I hope you will find the weather outside as well as the intellectual stimulation in the seminar pleasant and productive. I am thankful to the organisers for inviting me to participate in the seminar. The subject is close to our head and heart and we, in the RBI, had organized a SAARCFIN sponsored seminar la
জানু 16, 2006
Financial Inclusion and Millennium Development Goals*
At the outset, I take this opportunity to thank the Planning Commission, the United Nations Development Programme (UNDP) and the College of Agricultural Banking for inviting me to this very relevant program on human development and State finances. The central theme of the Millenium Development Goals (MDGs) is reduction of poverty in all its forms . The MDGs emphasise human development indicators, especially those relating to women and children, to enable people to liv
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
At the outset, I take this opportunity to thank the Planning Commission, the United Nations Development Programme (UNDP) and the College of Agricultural Banking for inviting me to this very relevant program on human development and State finances. The central theme of the Millenium Development Goals (MDGs) is reduction of poverty in all its forms . The MDGs emphasise human development indicators, especially those relating to women and children, to enable people to liv
ডিচে 02, 2005
Taking Banking Services to the Common Man – Financial Inclusion *
Ladies and Gentlemen, I am truly honoured to deliver the Fedbank Hormis Memorial Foundation commemorative lecture. The illustrious list of the previous years’ speakers indicates the kind of significance this commemorative lecture has acquired over the years. The late Shri K.P.Hormis, founder of Federal Bank, was a visionary and left behind an institutional set up in the form of Federal Bank which has been doing yeoman service for well over seventy five years. The Fedb
Shri V. Leeladhar, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen, I am truly honoured to deliver the Fedbank Hormis Memorial Foundation commemorative lecture. The illustrious list of the previous years’ speakers indicates the kind of significance this commemorative lecture has acquired over the years. The late Shri K.P.Hormis, founder of Federal Bank, was a visionary and left behind an institutional set up in the form of Federal Bank which has been doing yeoman service for well over seventy five years. The Fedb
নৱে 04, 2005
Implications of Global Financial Imbalances for the Emerging Market Economies
I am thankful to the Banque de France for inviting me to the international symposium on Productivity, Competitiveness and Globalisation to enable me to share my thoughts on financial stability. I intend speaking on the possible implications of global imbalances for the emerging market economies (EMEs) with special focus on India. Although fast growing economies are generally grouped together as EMEs, some of their major macroeconomic indicators present a wide spectrum
Dr. Y. V. Reddy, Governor, Reserve Bank of India
I am thankful to the Banque de France for inviting me to the international symposium on Productivity, Competitiveness and Globalisation to enable me to share my thoughts on financial stability. I intend speaking on the possible implications of global imbalances for the emerging market economies (EMEs) with special focus on India. Although fast growing economies are generally grouped together as EMEs, some of their major macroeconomic indicators present a wide spectrum
অক্টো 28, 2005
Some Apparent Puzzles for Contemporary Monetary Policy
I. Introduction I feel very honoured to have been invited to deliver this dinner address to this distinguished audience. We have had a long day of intensive discussions centered on issues related to the Indian and Chinese economies. I thought that, given the timing of this address and the fact that we have experts present here on both the economies, it would be more advisable to talk about some general issues that are engaging economic policy and monetary policy maker
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I. Introduction I feel very honoured to have been invited to deliver this dinner address to this distinguished audience. We have had a long day of intensive discussions centered on issues related to the Indian and Chinese economies. I thought that, given the timing of this address and the fact that we have experts present here on both the economies, it would be more advisable to talk about some general issues that are engaging economic policy and monetary policy maker
ছেপ্তে 09, 2005
Communications in Central Banks: A Perspective
I. Introduction Communication is part of the professional hazards that central bankers face as a routine. The responses as well as measures are mostly ‘measured’. Financial markets watch our pauses, and some punctuation marks in the text of a statement have the distinct possibility of getting transmitted through the movement of a few points in the yield curve. Faced with such grave consequences that can be measured in millions of rupees or dollars, communication in ce
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I. Introduction Communication is part of the professional hazards that central bankers face as a routine. The responses as well as measures are mostly ‘measured’. Financial markets watch our pauses, and some punctuation marks in the text of a statement have the distinct possibility of getting transmitted through the movement of a few points in the yield curve. Faced with such grave consequences that can be measured in millions of rupees or dollars, communication in ce
ছেপ্তে 03, 2005
Monetary Co-operation in Asia
Mr. Chairman and distinguished participants, It is a privilege to be associated with the deliberations on Asian Integration. Singapore very vividly signifies both the diversity and potential for prosperity of the Asian region. We deeply appreciate the hospitality and excellent arrangements made by the IMF and MAS for this High Level Seminar. The discussion paper circulated by the MAS is of high quality and is a very useful document. This session is devoted to subjects
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Mr. Chairman and distinguished participants, It is a privilege to be associated with the deliberations on Asian Integration. Singapore very vividly signifies both the diversity and potential for prosperity of the Asian region. We deeply appreciate the hospitality and excellent arrangements made by the IMF and MAS for this High Level Seminar. The discussion paper circulated by the MAS is of high quality and is a very useful document. This session is devoted to subjects
ভাৰতীয় ৰিজাৰ্ভ বেংক মোবাইল এপ্পলিকেষ্যন ইনষ্টল কৰক আৰু নৱীনতম বাতৰিৰ প্ৰৱেশাধিকাৰ পাওক!
পৃষ্ঠাটো শেহতীয়া আপডেট কৰা তাৰিখ: নৱেম্বৰ 21, 2024
