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নৱে 28, 2003

Finance for Industrial Growth

Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India

It is indeed a privilege and an honour for me to deliver the Mohan Kumaramangalam Memorial Lecture here at the Administrative Staff College of India. Mohan Kumaramangalam was one of the most distinguished public servants of his generation. His untimely and unfortunate death in a plane crash in 1973 deprived India of a worthy son. A leftist in his student days in England, Mohan Kumaramangalam was a leading light of Mrs. Gandhi's cabinet. His enduring contribution was t

নৱে 21, 2003

Challenges to Monetary Policy in A Global Context

Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India

Rakesh Mohan* I. Introduction Recent global developments have transformed the environment in which monetary policy operates, throwing up opportunities as well as challenges. Globalisation has expanded economic interdependence and interaction of countries greatly. This has created the need for greater coordination in terms of the design of appropriate institutional architecture as well as standardisation reflected in the adoption of similar monetary policy approaches.

ছেপ্তে 23, 2003

Boards of Governors - 2003 Annual Meetings

Dr. Y. V. Reddy, Governor, Reserve Bank of India

September 23–24, 2003World Bank GroupInternational Bank for Reconstruction and Development International Finance Corporation International Development Association International Centre For Settlement Of Investment Disputes Multilateral Investment Guarantee Agency International Monetary FundStatement by the Hon. Mr. Y.V. Reddy, Alternate Governor of the Fund for India, at the Joint Annual DiscussionMr. Chairman:1. Since we met last in April 2003, there have been some si

ছেপ্তে 21, 2003

The Global Economy and Financial Markets

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Statement by Dr. Y.V. Reddy, Governor, Reserve Bank of India and Leader of the Indian Delegation to the International Monetary and Financial Committee(Dubai, Sunday, September 21, 2003)Mr. Chairman,The Global Economy and Financial MarketsOutlook, Risks and Policy Responses1. There have been several welcome developments in the global environment since we met in last April. To our relief, several uncertainties relating to Iraq war, impact of SARS and volatility in oil p

ছেপ্তে 19, 2003

Economic Development of the North East Region:Some Reflections* - RAKESH MOHAN

Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India

It is a matter of great pleasure to be here with you to deliver the keynote address on this occasion of the 8th anniversary of the North Eastern Development Finance Corporation (NEDFi). As a financial institution NEDFi is unique, given the challenging domain of the North Eastern Region (NER) that it endeavours to promote. Like many of you, I have often wondered why the growth and development performance of this richly endowed Region has been well below its potential;

ছেপ্তে 16, 2003

Indian Economic Scenario Yesterday – Today – Tomorrow

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

I am honoured to address this gathering which has been facilitating constructive interactions and garnering public debate on various issues confronting India. The theme chosen for this gathering ‘Indian Economic Scenario – Yesterday, Today and Tomorrow’ is one of the most important issues requiring wide public debate as the Indian Financial system is passing through a phase of transformation and consolidation. It is time to build strategies for the challenges that lie

ছেপ্তে 09, 2003

Financing for Entrepreneurship and SMEs : An Indian Perspective

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

I am indeed thankful to OECD for inviting me as speaker at this important workshop on "Entrepreneurship in a Global Economy". In my address, I shall share with you some of the initiatives that are being taken by the Indian authorities with regard to the Small Scale Industries (SSI), against the backdrop of the SME financing in a cross-country perspective.In view of the continuing financing problems of the SMEs, at least two broad approaches have been adopted at the na

আগ 21, 2003

Recent Technological Developments In Indian Banking

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

Presentation (Powerpoint) by Shri Vepa Kamesam Deputy Governor Reserve Bank of India on Recent Technological Developments In Indian Banking

আগ 21, 2003

Recent Technological Developments in Indian Banking (Currency Management)

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

Presentation (Powerpoint) by Shri Vepa Kamesam Deputy Governor Reserve Bank of India on Recent Technological Developments in Indian Banking (Currency Management)

আগ 14, 2003

Exchange Rate Management: An Emerging Consensus?

Dr. Bimal Jalan, Governor, Reserve Bank of India

I am very happy to be here with you on the occasion of the 14th National Assembly. This annual gathering of our Forex specialists is a very special occasion for everyone interested in the evolution of forex market in India – not only the dealers and market participants, but also the RBI, Government and outside experts interested in appropriate macro-economic management for higher growth and the greater good of our people. It provides all of us with an opportunity to r

জুলাই 25, 2003

Role of Quality Human Resource in Target Setting for Economic Growth1

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

I am indeed thankful to Technology Information, Forecasting and Assessment Council (TIFAC) and especially to Dr. R. Chidambaram, Chairman, TIFAC for inviting me to join the distinguished participants and share my thoughts on ‘Role of Quality Human Resources in Target Setting for Economic Growth’. As I understand TIFAC has undertaken an ambitious programme known as ‘MISSION REACH’ as a follow up of the Technology Vision-2020 recommendations. The MISSION REACH is three

জুলাই 21, 2003

Roll-out Strategy for RTGS Implementation1

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

I welcome you all to this meeting. I am glad to share with you that the implementation of the RTGS Project has progressed significantly and is now critically poised. Even when I am speaking to you, the demonstration of the Demo RTGS System to a group of bank officials is in progress in our Bankers’ Training College. The RTGS System is scheduled to be delivered by the end of October, 2003, followed by installation, testing and commencement of parallel run before the ye

জুন 16, 2003

32nd ACU Board Meeting - Governor’s Welcome Address on June 16, 2003

Dr. Bimal Jalan, Governor, Reserve Bank of India

Honourable Governors and distinguished Delegates, Guests, Ladies and Gentlemen:It is a great privilege for me to welcome you to this 32nd Board meeting of the Asian Clearing Union (ACU). I am happy that this meeting is being held in the city of Bangalore, known as the ‘City of Gardens’ , with a great tradition in music, literature, architecture, science and technology. The city is now known even more as India’s leading city for information technology.2. Before proceed

মে’ 21, 2003

Infrastructure Development in India: Emerging Challenges

Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India

I. BACKGROUNDInfrastructure contributes significantly to economic development both by increasing productivity and by providing amenities that enhance the quality of life. The impact of infrastructure on economic growth is well documented internationally. In the Indian context too, elasticities of output with respect to various stocks of infrastructure indicate that the transport and communication sectors play a dominant role in explaining the variations in GDP and its

মে’ 06, 2003

Payment & Settlement Systems

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

The Payment and Settlement System is an essential part of the financial system of a vibrant economy. Consolidation, Development and Integration of the financial infrastructure and reforms in the payment and settlement systems of the country that address the twin issues of safety and efficiency have been engaging the attention of the Central Bankers and Financial Institutions the world over. Payment and Settlement Systems are no longer the backwaters of either the bank

মে’ 06, 2003

Developing Corporate Debt Market in India

Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India

Presentation (Powerpoint) by Shri Rakesh Mohan at the 3rd Invest India Debt Market Round Table on May 6, 2003

এপ্ৰিল 30, 2003

Monetary and Credit Policy for the year 2003-04

Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India

Presentation (Powerpoint) by Shri Rakesh Mohan Deputy Governor Reserve Bank of India

ফেব্ৰু 01, 2003

Bonds & Derivatives - The Road Ahead

Shri Mohammad Tahir, Executive Director, Reserve Bank of India

Ladies & Gentlemen,At the outset, let me express my gratitude to FIMMDA and PDAI for giving me an opportunity to give valedictory address to this prestigious annual conference. The role of FIMMDA/PDAI has become increasingly important in the development of the fixed income market in India. FIMMDA has played a pivotal role in the documentation of repos, CPs & CDs, finalizing the daily / annual valuation methodology for fixed income securities / derivatives. RBI

জানু 07, 2003

Management Challenges in Banking*

Shri. G.P. Muniappan, Deputy Governor, Reserve Bank of India

IntroductionIt gives me great pleasure in participating in the Annual Day function of NIBM where I have spent two years as a student of BMP in 1980s. NIBM has been playing a vital role in providing a platform to bankers and at times to Regulators also for exchange of views and thoughts to meet the emerging requirements of banking sector. Recent developments have underscored the urgency to sensitise the banking industry on emerging issues and quickly adapt to the chang

ডিচে 29, 2002

Transforming Indian Banking: In Search of a Better Tomorrow

Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India

The significant transformation of the banking industry in India is clearly evident from the changes that have occurred in the financial markets, institutions and products. While deregulation has opened up new vistas for banks to augment revenues, it has entailed greater competition and consequently greater risks. Cross-border flows and entry of new products, particularly derivative instruments, have impacted significantly on the domestic banking sector, forcing banks

ডিচে 28, 2002

Re-Engineering Operations in Banking System

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

Banking has traditionally remained a protected industry in many emerging economies. However, a combination of developments has compelled banks to change the old ways of doing business. These include, among others, technological advancements, disintermediation pressures arising from a liberalized marketplace, increased emphasis on shareholders’ value and macroeconomic pressures and banking crises in 1990s. As a consequence of these developments, the dividing line betwe

ডিচে 28, 2002

Inaugural Session on Technical Session I - Reorienting Structure

Shri. G.P. Muniappan, Deputy Governor, Reserve Bank of India

Introduction It gives me great pleasure to address this gathering of professionals from the financial sector. I have been impressed by the arrangements which have been made for the conduct of the program, and hope that the proceedings will also match the organisation in grandeur. I have had the opportunity to go through the papers which are being presented at this session and I am very happy to note that they are of a high quality and raise very pertinent issues. In f

ডিচে 27, 2002

Strengthening Indian Banking and Finance: Progress and Prospects

Dr. Bimal Jalan, Governor, Reserve Bank of India

The Bank Economists’ Conference has become an important annual event for constructive interactions and informed debate on the state of our financial system. The theme chosen for this year, "Indian Banking: Managing Transformation", provides an excellent opportunity to reflect on the ground that has been covered in transforming Indian banking into a vibrant, sound and a well-functioning system, and to chart out a plan for the future. I am happy to be here with you agai

অক্টো 29, 2002

Distribution of Notes and Coins in India

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

Presentation (Powerpoint) by Shri Vepa Kamesam at Currency Conference 2002, Honolulu, Hawaii

অক্টো 18, 2002

Development of Bond Market in India

Shri Mohammad Tahir, Executive Director, Reserve Bank of India

IntroductionBond markets link issuers, i.e., governments, state owned institutions, local bodies and corporates having financing needs, with investors having investible surplus. An efficient bond market is one where the requirements of both issuers and investors are met effectively at a price (interest rates) determined competitively, and where price adjustment to new information is seamless. For this purpose, the basic pre-requisites are: stable macro-economic enviro

ছেপ্তে 28, 2002

Key Note Address at the Assembly of the Forex Dealers' Association of India at Bangalore on September 28, 2002 delivered by Smt K.J.Udeshi, Executive Director, RBI

Smt. K.J. Udeshi, Executive Director, Reserve Bank of India

Mr.Pravin Gupta, Chairman, Forex Association of India, Mr Tyagarajan, General Secretary, other dignitaries present here, ladies and gentlemen,It is indeed a great pleasure to be amidst you all this evening. This is my first participation in the Forex Assembly. The first thing however that came to my mind when Mr Gupta approached me is that, thankfully there could not be a more opportune time for my first visit when all is apparently well with the forex market world an

ছেপ্তে 11, 2002

Governance and Regulation of Financial Services

Shri. G.P. Muniappan, Deputy Governor, Reserve Bank of India

I. Introduction to the theme and the speakersThe theme for this session is a very broad one, encompassing the entire framework of regulation. However, it is very relevant in today’s times given the focus on the regulation and supervision of the institutions in the financial sector. This focus has emerged in the context of the large number of financial sector crises and bank failures, which have plagued almost all the economies in the world over the last two decades. T

ছেপ্তে 03, 2002

Managing Public Debt - Issues and Challenges

Shri Mohammad Tahir, Executive Director, Reserve Bank of India

I thank the ASSOCHAM for inviting me at the Valedictory session of the Seminar on Managing Public Debt.During the course of Seminar, various aspects of Managing Public Debt have been discussed. Many suggestions have been made by the speakers. I am sure these suggestions will be sent to Government for consideration.Practically, all aspects of Debt Management have been discussed in the Seminar. I would, therefore, be supplementing to what has already been said.Role of R

আগ 31, 2002

Challenges Before The Indian Banking Industry

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

I am honoured to speak at the 55th Annual General Meeting of the Indian Banks' Association. The Indian Banks' Association started as a voluntary service Organisation in 1946 has played a very important and pivotal role for more than 50 years in the banking industry and has made commendable efforts as a facilitator in ensuring an efficient and sound banking system which is committed to excellence in operations and customer service. The Association strives to meet the d

আগ 30, 2002

Seminar on Banking Reforms and Strategies1

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

The first phase of banking sector reforms initiated in pursuance of the recommendations of the Committee on Financial Sector Reforms provided the necessary platform to the banking sector to operate on the basis of operational flexibility and functional autonomy, thereby enhancing efficiency, productivity and profitability. Keeping in view the major changes that took place in the macro economic environment and policy and institutional developments in the interim period

জুলাই 26, 2002

A Decade after 1991: New Challenges Facing the Indian Economy

Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India

I feel deeply honoured to have been invited to deliver the 28 th Frank Moraes Memorial Lecture this evening. I feel particularly honoured, but also humbled, when I look at the list of the very distinguished predecessors who have delivered this lecture. Frank Moraes was among the pioneers of independent Indian journalism. As editor of the Indian Express he set new standards in journalism in terms of both probity and quality of writing. I know that successive generation

জুলাই 08, 2002

Bank of England’s Seminar on International Financial Architecture

Dr. Bimal Jalan, Governor, Reserve Bank of India

Today’s topic is a very large one and the time available to us is relatively short. To make the maximum use of the time available to me, I will make four broad points rather than deal with any specific issues relating to the international financial architecture. These, we can deal with later in the seminar during the question/answer period. The First point that I want to make is that we need to recognize that the period of the 90s, despite many gains, has seen many mo

জুলাই 05, 2002

Co-Operative Banks in India : Strengthening through Corporate Governance

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

by Vepa Kamesam Deputy Governor, Reserve Bank of India 1I deem it a privilege to have been invited to address this gathering on a topic of tremendous relevance, focus and significance in today’s context. Needless to say, for the co-operative banks in India these are transitional times. Never before has the need for restoring customer confidence in the co-operative sector been felt so much. Never before has the issue of good governance in the co-operative banks assumed

মে’ 10, 2002

India’s Foreign Exchange Reserves : Policy, Status and Issues

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Mr. Chairman and friends, I am thankful to the National Council of Applied Economic Research, (NCAER) and in particular, to Dr. Suman Bery, for giving me this opportunity to make a presentation on the foreign exchange reserves. There are several reasons for speaking on this subject before this august gathering in the capital. First, the subject is receiving renewed global interest among policy makers and academicians against the backdrop of increasing globalization of

এপ্ৰিল 22, 2002

List of Articles / Speeches Published in Reserve Bank of India Bulletin [1947-2001]

I - Articles 1. Money, prices, money supply, monetary trends, policies and credit 2. Various Aspects of Banking (including Co-operative Banking) 3. Finances of the Union and State Governments, Public Debts, etc. 4. Foreign Trade, International Finance and Balance of Payments 5. National Income, Savings, Investment and Financial Flows 6. Agricultural Production, Finance and other Aspects of Agriculture (including Co-operation) 7. Industry: Production, Finance and Relat

এপ্ৰিল 19, 2002

Monetary and Financial Sector Reforms in India: A Practitioner's Perspective

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Draft for Discussion For Private Circulation The objectives of this paper are to review the monetary and financial sector reforms in India, identify the emerging issues and explore the prospects for further reform. The first part is devoted to a brief background on the need for reforms taken up in 1991-92. The second part is devoted to the institutional aspects of the reform. Issues relating to ownership, competition and regulation in the financial sector as a whole,

এপ্ৰিল 18, 2002

Public Sector Banks and the Governance Challenge: Indian Experience

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

The objective of this paper is to detail the Indian experience in meeting the governance challenge with special reference to public sector banks (PSBs) or State-owned banks as they are described in some countries. The paper sets out the historical context of the Indian experience since the governance challenge is significantly related to the background in which state ownership emerged. This will be followed by an account of the pre-reform status encompassing the polic

এপ্ৰিল 03, 2002

Economic Reforms and Evolving Role of RBI as Banker to the Governments

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Mr. Chairman, Mrs. Usha Sahajpal and friends, I am thankful to the organizers for inviting me to the Silver Jubilee Year of founding of Accounts Organisation and I recognize it as a reflection of the close cooperation and understanding that have evolved between Reserve Bank of India (RBI) as a banker to Government of India and its Accounts organisation. The title of the address refers to being banker to governments simply because RBI is a banker not only to the Centra

এপ্ৰিল 01, 2002

The NPA Overhang - Magnitude, Solutions, Legal Reforms

Shri. G.P. Muniappan, Deputy Governor, Reserve Bank of India

IntroductionI have readily accepted the invitation of CII for an interaction on NPAs so that the central bank can convey its concerns to those who can offer right solutions to this vexing problem and at the same time hear their view points for possible mitigation role by the central bank and government. I am thus really grateful to have been given an opportunity to talk on a subject of great interest to all who have assembled here.In fact, the problem of non performin

মাৰ্চ 21, 2002

Evolving Role of Gold – Recent Trends and Future Direction

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Mr. Chairman, Mr. Tarapore, Distinguished visitors and friends,I am thankful to the World Gold Council (WGC) for inviting me to participate in this meeting on the future direction of the gold market. This is the third conference of WGC, with which I am being associated and I do notice that all of these are held in New Delhi. It shows that though Mumbai is the financial capital and a major centre for gold market in India, the directions of gold policy have been and wil

মাৰ্চ 11, 2002

Developing Bond Markets in Emerging Economies : Issues and Indian Experience

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Governor Dr. Tarisa Watanagase, Dean, Yoshitomi, Dr. Nachiket Mor, Mr. Joshi & friends, It gives me great pleasure to deliver the keynote address at the Asian Bond Conference organised jointly by the Thai Bond Dealing Centre (Thai BDC), Fixed Income Money Market Dealers Association of India (FIMMDA) and Primary Dealers Association of India (PDAI). It is a matter of significance that some of the major self-regulatory organisations (SROs) in the debt markets of Asia

ফেব্ৰু 11, 2002

Winning Strategies in Small and Medium Enterprises Finance

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

It is a matter of great pleasure for me to be present on this occasion for the inaugural address and share some of my thoughts and experiences on the development of this vital sector of economy. The IFC and FICCI need to be congratulated for the thoughtful theme selected for the symposium. The organisation of this symposium gains importance in the context of globalisation when the Small and Medium Enterprises (SME) face challenges and take advantage of opportunities c

জানু 23, 2002

Legal Aspects of International Financial Standards : National Law Perspective

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Professor Giovanoli and friends, I am thankful to the Bank for International Settlements for giving me opportunity to make this presentation on the national law perspective, though a large number of presentations in the Seminar relate to international law. The presentation is based on Indian approach and Indian experience and focus is on processes and current status of various legislative changes that evolve in the consideration of international standards and codes. S

জানু 17, 2002

Indian Banking of Tomorrow *

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

It is a proud privilege to be present at a conference which not only provides an introspection of the way things have gone by but also provides a glimpse into the near future – so that banks could plan their future course of action accordingly. I am indeed privileged to make the lead presentation on a topic close to my heart – on managing change for the better. Although my topic reads as ‘Indian Banking of tomorrow’ let me hasten to add that the tomorrow is already he

জানু 16, 2002

Indian Banking : Paradigm Shift in Public Policy

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Chairman, distinguished participants and friends,I am thankful to the organisers for inviting me to deliver this address. It is good to see that the focus on paradigm shift did not extend to shifting the traditional speaker at the Valedictory Address. Today’s address will be divided into five sections. The first section would capture the paradigm shift in the environment in the Indian banking as presented in the Conference and the deliberations as captured by the Rapp

জানু 15, 2002

India and Globalisation

Dr. Bimal Jalan, Governor, Reserve Bank of India

This is a truly momentous occasion in the life of this Institute, its students, its teachers, and its friends. Let me begin by conveying my heartiest congratulations to the students who are receiving their degrees today. For all of them, it is a culmination of years of hard work, and a recognition of their high academic merit. All the teachers of this great Institute, who have put in so much time and effort to make this day possible, also deserve our gratitude. I woul

জানু 15, 2002

Parameters of Monetary Policy in India

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

FriendsIt is a great honour to be asked to deliver an invited lecture at the annual conference of the Indian Econometric Society and I am grateful to the organisers for this opportunity. For obvious reasons, including the growing interest in monetary policy, I intend presenting before you the parameters of monetary policy in India. In the first part of this lecture, I propose to give a general overview of the parameters of monetary policy. In the second part, I would

জানু 14, 2002

Indian Banking and Finance: Managing New Challenges

Dr. Bimal Jalan, Governor, Reserve Bank of India

IntroductionIn my inaugural address last year, I had indicated a vision for Indian banking in the new millennium – that of a vibrant, internationally active banking system, drawing upon its innate strengths and comparative advantages to make India a major banking centre of the world. I had pointed out then that, while it may take up to 10 or even 15 years to achieve this vision, the time to begin was now. Recent developments have only served to bring forward the urgen

জানু 14, 2002

Indian Banking : Paradigm Shift – A regulatory point of view

Shri. G.P. Muniappan, Deputy Governor, Reserve Bank of India

I am very happy to be here today in the midst of this distinguished gathering of practising bank economists. The decade gone by witnessed a wide range of financial sector reforms, with many of them still in the process of implementation. Some of the recently initiated measures by the RBI for risk management systems, anti money laundering safeguards and corporate governance in banks, and regulatory framework for non bank financial companies, urban cooperative banks, go

জানু 06, 2002

Corporate Governance and Financial Sector: Some Issues

Dr. Bimal Jalan, Governor, Reserve Bank of India

Mr. Bhide, Dr. Saha, Distinguished Chairpersons of banks, FIs, and friends,The Annual Day of the NIBM has become an important event in the Bank’s calendar that all of us look forward to, and I am glad to be with you once again. I am thankful to Mr. Bhide and the Board of the NIBM for giving me this opportunity for an exchange of views on the important subject of Corporate Governance in banks and financial institutions. This is a timely initiative as the events of last