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ডিসেম্বর 31, 2012

Contemporary issues in Banking: Reflections on Viewpoints of a Bank Economist

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Dr. M. Narendra, Chairman and Managing Director, Indian Overseas Bank (IOB); Shri A.K. Bansal and Shri A.D.M. Chavali, Executive Directors of IOB; Shri N. Viswanathan, Regional Director, RBI; Smt. Indira Padmini and other General Managers of IOB; Shri M. Ramaswamy, Retired Secretary of Auroville; Shri S. Muthiah, Historian; Shri M.Ct.P. Chidambaram, grandson of the founder of Indian Overseas Bank; Shri B.J. Krishnan, Environmentalist; Shri Bhakther Solomon, Chief Exec

ডিসেম্বর 17, 2012

Technology enabled transformation in the Financial Sector

Shri G Padmanabhan, Executive Director, Reserve Bank of India

Mr Sambamurthy, Members of Faculty, CIOs and GMs of banks, ladies and gentlemen. I thank the IDRBT for inviting me to address this erudite audience. The issues that I have chosen to flag; I hope, would generate adequate interest and be the basis for further deliberations leading to some concrete suggestions. We, in the Reserve Bank would eagerly look forward to such outcomes, as these can be useful to set the road map for technology adoption in the Indian financial se

নভেম্বর 23, 2012

Supporting Explosive Growth: Effective Linkages between the Banking Sector and Real Sector

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Introduction Shri Rajkumar Dhoot, Hon’ble Member of Parliament and President, ASSOCHAM, Shri M. Narendra, Chairperson, ASSOCHAM National Council for Banking & Finance and CMD, Indian Overseas Bank, Shri Sunil Kanoria, Vice President, ASSOCHAM and Vice Chairman, SREI Infrastructure Finance Ltd.; Mrs. Shubhada Rao, Senior President and Chief Economist, Yes Bank Ltd.; Mr. Subhash C Aggarwal, CMD, SMC Group; Ms. Sudha Ravi, Co-Chairperson, ASSOCHAM National Council fo

অক্টোবর 25, 2012

Financial Regulatory Reforms

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

A very good afternoon to you all. It is my privilege to chair the panel on ‘Financial Regulatory Reforms: Not far enough or Overkill?’ Let me welcome the four very eminent panelists, Mr. Jae-ha Park, Deputy Dean ADBI; Mr. Stephen Pickford, Associate Fellow, Chatham House; Mr. Paul Bernd Spahn, Professor Emeritus of Goethe University, Frankfurt am Main, Germany and Ms. Susan Thomas, Assistant Professor, Indira Gandhi Institute of Development Research. 2. The topic of t

অক্টোবর 23, 2012

Technology in the Financial Sector- Some Issues and a Few Concerns

Shri G Padmanabhan, Executive Director, Reserve Bank of India

Mr Joseph, Mr Jayakumar, Mr Hareesh Babu, Mr John, distinguished ladies and gentlemen, it is a pleasure to be addressing the bankers in this beautiful city of Thrissur, often called the cultural capital of Kerala. From the bankers' perspective it can well be called the banking capital of Kerala, as three banks are head-quartered in Thrissur and a fourth in the adjoining town of Aluva. I am told that the Bankers Club, Thrissur is one of the oldest and the largest in Ke

অক্টোবর 22, 2012

Gauging the Potential of Emerging Markets – Can growth be achieved with Durable Financial Stability

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Ms. Henny Sender, Chief Correspondent, International Finance, Financial Times and moderator for the panel discussion, my co-panelists, Mr. Bunt Ghosh, Head of Emerging Market Strategy for Asset Management, Credit Suisse; Mr. Sunil Godhwani, CMD, Religare Enterprises; Mr. Sizwe Nxasana, CEO, First Rand Group; Dr. Rana Kapoor, Founder, Managing Director and CEO, Yes Bank; other delegates and members of print and electronic media. A very good afternoon to you all. 2. Whi

অক্টোবর 09, 2012

Techno - Banking – Prospects and Challenges

Shri G Padmanabhan, Executive Director, Reserve Bank of India

Distinguished ladies and gentlemen, I am honoured to be invited to deliver the key note address at the 6th edition of the ET Banking Technology Conclave. I am also thankful to the organizers for their kind gesture in asking me to deliver the inaugural rather than the valedictory address, as originally intended. I was rather apprehensive of delivering a valedictory address in a Seminar like this, since-drawing a cricket analogy- it would be like going in as the last ma

সেপ্টেম্বর 21, 2012

Underlying Concepts and Principles of Dynamic Provisioning

Shri B. Mahapatra, Executive Director, Reserve Bank of India

Thank you very much for inviting me to this conference to share with you my understanding of the underlying concepts and principles of dynamic provisioning. A discussion paper on the subject was brought out by the Reserve Bank of India (RBI) in March 2012. We are still in the process of examining the comments received from banks and other stakeholders and it may take us a while to finalise anything in this regard. Why make provisions? 2. Let me start the discussion wi

সেপ্টেম্বর 17, 2012

Indian Economy: Imperatives for Second Generation Reforms

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Dr. Suresh Kotak, Chairman, Kotak and Co. Ltd.; Dr. J. Phadnis, Principal of the VES College of Arts, Science and Commerce; Shri B.L. Boolani, Trustee In-charge; Dr. Suniti Nagpurkar, Head of the Economics Department and Convener of the Seminar, Mrs. Dipta Dasgupta, my old friend from the Banaras Hindu University; faculty members and students participating in the Seminar, Ladies and Gentlemen. It is, indeed, a matter of great pleasure and privilege for me that I have

সেপ্টেম্বর 11, 2012

Financial Stability: 2007 to 2012 - Five years on

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Mr. D. Sarkar, CMD, Union Bank of India, Mr. Pratip Chaudhuri, Chairman, State Bank of India, senior members of the banking fraternity, delegates to the Conference, members of the print and electronic media and other distinguished guests. It is my privilege to be here in FIBAC 2012 whose theme is “Sustainable excellence through customer engagement, employee engagement and right use of technology”. FIBAC is an important forum for serious deliberations on banking sector

সেপ্টেম্বর 05, 2012

Revised Guidelines on Priority Sector Lending: Rationale and Logic

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Shri Alok K. Misra, Chairman, IBA and CMD, Bank of India; Shri Pratip Chaudhuri, Chairman, State Bank of India; CMDs/ CEOs of other banks; other senior members of the banking fraternity, delegates to the conference, members of the print and electronic media, other distinguished guests, ladies and gentlemen. It is, indeed, a matter of great pleasure for me to deliver this special address at the annual FICCI – IBA Global Banking Conference - FIBAC 2012. FIBAC has become

সেপ্টেম্বর 04, 2012

Basel III in International and Indian Contexts Ten Questions We Should Know the Answers For

Dr. D. Subbarao, Governor, Reserve Bank of India

For the fourth year on a trot, you have extended me the privilege of inaugurating this annual FICCI-IBA conference. Involving as it does leaders from the corporate and banking sectors, this conference has emerged as an important forum for discussing major policy issues. Naturally, I attach a lot of value to speaking from this platform. Thank you for this opportunity. 2. Later this month, we will be marking the fourth anniversary of the collapse of Lehman Brothers whic

সেপ্টেম্বর 03, 2012

CRR is a cost, manage it: Chakrabarty tells SBI

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

আগস্ট 28, 2012

Perspectives on Risk and Governance

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Mr. P R Ramesh, Chairman, Deloitte, Dr. Vikram Kuriyan, Director of the Investment Centre, Indian School of Business, Ms. Usha Thorat and Mr. V S Das, my erstwhile colleagues from Reserve Bank and other delegates. It is a pleasure for me to interact with you all, today at this Summit. 2. The theme of the Summit revolves around risk and governance, the two terms which are being looked at by policy makers with renewed interest and a fresh perspective in the aftermath of

আগস্ট 13, 2012

Corporate Debt Restructuring- Issues and Way Forward

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Ms. Soundara Kumar, Deputy Managing Director, State Bank of India, Mr. Siby Anthony, Managing Director & CEO, Edelweiss Asset Reconstruction Co. Ltd., Mr. R. Sundaram, President (Finance) & Company Secretary, Indo Count Industries Limited, Mr. T.R Madhavan, Executive Chairman, Centrum Group, and, seated in front of the dais, Mr. Chandir Gidwani , Promoter, Centrum Group, other distinguished guests, members of the print and electronic media, ladies and gentleme

জুলাই 19, 2012

Small is still Beautiful and Competitive – Reflections on the Growth of Micro, Small and Medium Enterprises (MSMEs) in India

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Mr. Partha Chatterjee, Hon’ble Minister in Charge, Department of Commerce and Industries, Government of West Bengal, Dr. Manas Ranjan Bhunia, Hon’ble Minister in Charge, Department of Micro and Small Scale Enterprises and Textiles, Government of West Bengal, Dr. Rajeev Singh, Director General, Indian Chamber of Commerce, Kolkata, and other distinguished invitees. I am indeed happy to be a part of this national conference. 2. This conference is very timely for several

জুলাই 16, 2012

Issues in IT Governance

Shri G Padmanabhan, Executive Director, Reserve Bank of India

Smt. Meena Hemchandra, Principal CAB, members of CAB faculty and participants; wish you all a very good morning. I thank the Principal for the privilege given to me to address this gathering of CTOs and CIOs of banks, who are responsible for managing information, the most valuable resource for banks today. It is indeed appreciable and thoughtful of the CAB to organize a programme with a theme which has great contemporary relevance. Emergence of Corporate Governance 2.

জুলাই 13, 2012

Global Convergence of Banking Regulations and its impact on Indian Banking System

Shri G Padmanabhan, Executive Director, Reserve Bank of India

I am very happy to be here to address the Bankers Club at Raipur. Chhattisgarh is a fast developing state and the banking system here has to play its role in ushering in economic growth of the state. The outreach programme in which I participated yesterday at Makanpur was an eye opener for me regarding the active role played by the banks towards this direction. Global Financial Crisis – A curtain raiser 2. As we are passing through difficult but challenging times as f

জুলাই 04, 2012

Touching Hearts and Spreading Smiles

Dr. D. Subbarao, Governor, Reserve Bank of India

I am deeply touched by the invitation to deliver this oration as part of Indian Overseas Bank’s Platinum Jubilee celebrations. I know that some very distinguished people have given orations in this series, and it is an honour for me to add my name to that very select list. IOB - Origins and Legacy 2. At the outset, my congratulations to the CMD Shri Narendra, all the officers and staff of IOB on this very special occasion. I browsed through the history of IOB and am s

জুলাই 03, 2012

IT and Governance in Banks - Some thoughts

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Shri Sambamurthy, Director, IDRBT; Shri Prabhakar, Chairman and Managing Director, Andhra Bank, Shri Rao, Managing Director, SBH, Shri Siva Kumar, member of faculty, IDRBT, distinguished fellows of IDRBT; other members of the faculty; and directors on the Boards of banks. Wish you all a very good morning. 2. Independent directors are looked upon by both the stakeholders and regulators as important contributors to the value additive and ethically positive oversight of

জুন 04, 2012

Human Resource Management in Banks – Need for a new perspective

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Shri Alok Misra, CMD, Bank of India, Dr. K. Ramakrishnan, Chief Executive, Indian Banks Association, CMDs and EDs of Public Sector Banks, fellow bankers, external consultants, members of the press and distinguished guests. I thank you for inviting me to this conference. 2. I am happy to note that a conference focusing exclusively on HR issues is being organized by Public Sector Banks. I understand that the conference is being organized at the instance of the Governmen

এপ্রিল 24, 2012

Remarks by Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India in a Panel Discussion on Financial Literacy and Consumer Protection, Washington, DC, on April 22, 2012

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

• Globally, the triad of Financial Inclusion, Financial Literacy and Consumer Protection has been recognized as intertwining threads in pursuit of Financial Stability. For any kind of stability, whether financial, economic, political or social, inclusive growth is an essential prerequisite. Inclusive growth, in turn, is largely driven by financial inclusion and an inclusive financial system. Financial Inclusion and Literacy • Financial Inclusion and financial literacy

এপ্রিল 13, 2012

Enabling Affordable Housing for All – Issues & Challenges

Shri Harun R Khan, Deputy Governor, Reserve Bank of India

1. It is a pleasure to address such a distinguished gathering of delegates at the international conference and the well-known experts from the sector who have assembled here. It is my pleasure to be here not only as a representative of the Reserve Bank of India but also as a member of the Board of the National Housing Bank (NHB). Over the years, the Reserve Bank and the NHB have committed to the cause of improving the condition of the Indian housing sector considering

এপ্রিল 03, 2012

Systemic risk assessment – The cornerstone for the pursuit of financial stability

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

1. First of all, let me extend a warm welcome to all of you to this vibrant city called Mumbai. We, in India, often call this city the Maximum City – it is undeniably, like the punch line of the advertisement of a global bank, a city which never sleeps. I hope all of you also take maximum advantage of your stay here in respect of the deliberations during the seminar and of the tremendous opportunities for entertainment that this city offers! 2. The subject of this con

মার্চ 20, 2012

Changing Contours of Global Crisis- Impact on Indian Economy

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Dr. Devi Singh, Director, IIM Lucknow and Mentor Director, IIM Kashipur; Professor Manoj Anand; other members of the faculty; my fellow bankers and the young and ‘raring to go’ students of Indian Institute of Management, Kashipur. A very good evening to you all. I deem it a privilege to address young and bright students like this. I see in them the willingness to listen, courage to question and the enthusiasm to take on challenges that the future holds for them. In sh

মার্চ 13, 2012

Striking a Balance: Credit Penetration and NPA Management – Role of Information Sharing

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Mr. Nair, Chairman, Credit Information Bureau (India) Limited (CIBIL) and CMD, Union Bank of India; Mr. Mallya, CMD, Bank of Baroda; Mr. Siddharth Mehta, President and CEO, TransUnion; Mr. Thukral, MD, CIBIL and other distinguished guests. It is indeed an honour for me to address you all here during the fourth annual Credit Information Conference. 2. Banking is a risky business. Banks, or more generally the credit institutions, in their role as intermediaries take upo

মার্চ 05, 2012

The Framework for Pre-Empting Systemic Financial Risks

Shri V.K. Sharma, Executive Director, Reserve Bank of India

1. For all the like-never-before-and-hopefully-never-after financial, fiscal, economic and social costs of the Global Financial Crisis, the one perverse benefit of it, nevertheless, has been that it has tellingly focussed attention of global law and policy makers and head honchos of finance and banking industry, also like never before, on risk and the risk management imperative as also compelled a cathartic reappraisal of how risk should be defined and measured ! As s

মার্চ 03, 2012

Implications of Basel III for Capital, Liquidity and Profitability of Banks

Shri B. Mahapatra, Executive Director, Reserve Bank of India

It is heartening that the National Institute of Bank Management (NIBM), Pune is organizing a two-day National Conference on ‘Emerging Macro Environment, Regulatory Changes and Bank Competitiveness’, today and tomorrow. I am indeed grateful to the NIBM for giving me this privilege to talk to you today on a topic - Implications of Basel III for Capital, Liquidity and Profitability of Banks - which is contemporaneous, not only in the financial circles, but also in the la

ফেব 27, 2012

BCSBI, Customer Service and Consumer Protection-Issues and Challenges

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Shri A.C.Mahajan, Chairman BCSBI, Shri M.M. Chitale, Shri H.N.Sinor, Shri C. Krishnan, members of the Governing Council of BCSBI, Shri N Raja CEO, BCSBI, delegates to the Conference, Ladies and Gentlemen, it gives me great pleasure to be in your midst today and share with you some of my thoughts concerning quality of customer care and service in our banking industry. 1. The BCSBI has been in existence for six years now and has done a commendable job in this short span

ফেব 17, 2012

Indian Banking Sector: Towards the Next Orbit

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Dr. Pritam Singh, Director General, International Management Institute, Dr. Ahindra Chakrabarti, Programme Director, participants from Reserve Bank of India and the commercial banks. It gives me great pleasure to be before you today as you embark on this journey of learning here at IMI and later across Paris, Berlin and Milan to imbibe the culture of these countries and the best practices. The Advanced Management Programme is the ninth in the series and includes study

ফেব 17, 2012

Moving towards technology led excellence in banking

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Shri Sambamurthy, Director IDRBT, Executive Directors of banks, members of faculty from IDRBT, ladies and gentlemen. It gives me immense pleasure to be delivering the keynote address in today’s workshop ‘Beyond Core Banking’ and I thank IDRBT for giving me the opportunity. 2. In today’s technologically advanced environment, Core Banking Solution (CBS), does not remain an edge anymore, but has become the basic prerequisite for any bank. Building on this, banks need to

জানু 31, 2012

Indian Banking- Journey into the Future*

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Shri M D Mallya, Chairman, Indian Banks’ Association and Shri M Narendra, Chairman, Indian Overseas Bank, the joint organizers of this mega event of the Indian banking industry and other delegates. A very good evening! It is an honour for me to be here today to deliver the valedictory address of this Conference which has come to signify an annual confluence of banking minds for serious deliberations. These conferences give us all an opportunity to reflect on the lates

জানু 16, 2012

Infrastructure Financing in India – Progress & Prospects

Shri Harun R Khan, Deputy Governor, Reserve Bank of India

Distinguished members of faculty and students. 1. IIT, Kharagpur is one of the very few educational institutes of India which has a strong linkage to our struggle for Independence and our vision for the future India. The Institute started its illustrious journey from Hijli Detention Camp where some of our freedom fighters were kept captive and had to make the supreme sacrifice for the freedom of our country. As Pandit Nehru, in his first convocation address in 1956, s

জানু 09, 2012

Banking Sector – Maintaining Resilience to Risk and Shock and the role of the Accounting Profession

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

1. Shri Amarjit Chopra, past president, ICAI, Shri G. Ramaswamy, present president, ICAI, Shri Reddy and other council members, distinguished Guests and Delegates, ladies and gentlemen. It gives me great pleasure to address this august gathering of accounting professionals from around the world. I must, at the very outset, laud the initiative of The Institute of Chartered Accountants of India (ICAI) in organising this conference for accountants to dwell on issues of t

ডিসেম্বর 26, 2011

Legislative Reforms- Strengthening Banking Sector

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Justice (Retd.) Shri B.N. Srikrishna, Chairman, Financial Sector Legislative Reforms Commission (FSLRC), Shri Swarup and Shri Malegam (members of FSLRC), Shri Yogesh Agarwal, Chairman, Pension Fund Regulatory and Development Authority (PFRDA), Shri Mudholkar and Shri Chikermane, and other delegates. It is an honour and privilege for me to address you today, on some of the key issues with regard to “Reforms in the Banking Sector” and I thank Financial Planning Standard

ডিসেম্বর 26, 2011

Financial Reporting in the context of Financial Stability: A Regulator’s view on Some Accounting Issues

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

1. Dr. Ashraf Nabhan Al Nabhani, Dean, College of Banking and Financial Studies, Mr. Kishore Rabi, Chairman, ICAI Muscat Chapter and other delegates. It gives me great pleasure to address this august gathering organised by the Muscat Chapter of the Institute of Chartered Accountants of India (ICAI). I am given to understand that the Muscat Chapter, the 19th overseas chapter of the ICAI is amongst the most active chapters of the ICAI and has been engaging in capacity b

ডিসেম্বর 16, 2011

Challenges to the Accounting Profession Some Reflections

Dr. D. Subbarao, Governor, Reserve Bank of India

Thank you for inviting me to speak at this conference of the Western India Regional Council of the Institute of Chartered Accountants of India (ICAI). 2. When I got invited to speak at this conference, at first I was a bit surprised. I wondered why you might be wasting valuable conference time listening to the Reserve Bank when there is not much in common between the Reserve Bank and the accounting profession, except possibly the fact that we both lose sleep when numb

ডিসেম্বর 14, 2011

Ten Commandments for a Successful Banking Career1

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Ms Chanda Kochhar, MD and CEO, ICICI Bank, Shri T. V. Mohandas Pai, Chairman, Manipal Global Education Services, Dr K. Ramnarayan, Vice Chancellor, Manipal University, Shri Rajiv Sabharwal, Executive Director, ICICI Bank, other distinguished guests, ladies and gentlemen, and my young friends. 2. It is indeed a pleasure to be here in your midst today. Young people infuse energy and vigour into any gathering but bright, young bankers like you also make it a learning exp

নভেম্বর 15, 2011

Empowering Deposit Insurance Entities to Face Challenges posed by an Emerging Financial Landscape – Global and Indian experience

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Mr. Hiroyuki Obata, Deputy Governor, DICJ, Japan, Mr. Carlos Isoard, Secretary General, IADI, Switzerland, Mr. Jerzy Pruski, President, BGF, Poland, Mr. Fred S. Carns, Director, FDIC, USA, Mr. G. Gopalakrishna, Executive Director, RBI, distinguished delegates, ladies and gentlemen. At the outset, on behalf of RBI, I extend a hearty welcome to all of you to India and especially to this fascinating state of Rajasthan. We thank IADI for agreeing to hold this conference j

নভেম্বর 15, 2011

Financial Sector Regulation for Growth, Equity and Stability in the Post Crisis World

Jaime Caruana, General Manager, Bank for International Settlements

Introduction I am delighted to join Governor Subbarao and his colleagues at the Reserve Bank of India at this conference on “Financial sector regulation for growth, equity and stability in the post-crisis world”. And I would like to thank Usha Thorat, the first head of the Centre for Advanced Financial Research and Learning, for the invitation. All credit is due to Governor Subbarao and Usha Thorat for this important initiative. One of the lessons of this crisis is ou

নভেম্বর 15, 2011

Financial Regulation for Growth, Equity and Stability in the Post-Crisis World

Dr. D. Subbarao, Governor, Reserve Bank of India

Let me start by telling you about the motivation for the conference theme. 2. Failure of regulation, by wide agreement, was one of the main causes of the 2008 global financial crisis. It is unsurprising therefore that reforming regulation has come centre stage post-crisis. The progress in regulatory reforms over the last two years has been impressive, but the agenda ahead remains formidable. Regulation will bring in benefits by way of financial stability, but it also

নভেম্বর 14, 2011

Bank Resolution Framework Challenges in the Indian Context

Dr. D. Subbarao, Governor, Reserve Bank of India

On behalf of the Reserve Bank of India, let me once again extend a hearty welcome to all the delegates to this IADI-DICGC International Conference on the Role of Deposit Insurance in Bank Resolution Framework - Lessons from the Financial Crisis. Welcome also to this Sun City of Jodhpur - on the edge of the Thar Desert - a city of forts and palaces, lakes and gardens, and folklore and legend that represents - in its mellifluous blend of tradition and modernity - the be

নভেম্বর 14, 2011

Financial Inclusion and Financial Stability : Are they two sides of the same coin?

Shri Harun R Khan, Deputy Governor, Reserve Bank of India

Presentation 1. It is always a pleasure to be a part of such a confluence of bankers and researchers on contemporary issues in banking and finance but to choose to speak on an area which needs to be either ‘wholesomely new’ or ‘extensively revised’ at such a forum becomes a challenge. I thank the organizers, the CMD of Indian Overseas Bank and the Chairman of IBA for offering me this opportunity to share my own thoughts on a topical issue that has engaged attention of

নভেম্বর 11, 2011

Convergence of Mobile Banking, Financial Inclusion and Consumer Protection-Trend

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Ms Ursula Menke, Commissioner , Financial Consumer Agency of Canada and Chair of the International Financial Consumer Protection Network (FinCoNet), distinguished participants, ladies and gentlemen. I thank the FinCoNet for including a special session on Financial Inclusion, Mobile Banking and Consumer Protection in today's agenda and inviting me to share the Indian perspective. Further, given the extent of financial exclusion that prevails in India where out of the 6

নভেম্বর 08, 2011

Gearing up for the Competitive Impulse in the Indian Banking in its defining decade

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

I: Introduction Dear Shri Narendra, CMD, Indian Overseas Bank and host of Bancon 2011, Shri M.D. Mallya, Chairman, Indian Banks Association and CMD, Bank of Baroda, Shri M.V. Nair, CMD, Union Bank of India, Shri S. Raman, CMD, Canara Bank, CMDs and EDs of other banks present here, fellow Bankers and all the delegates attending BANCON 2011, representatives of the print and electronic media, Ladies and Gentlemen. 2. It is my pleasure and privilege to be here to share my

সেপ্টেম্বর 22, 2011

Impact of Global Financial Crisis on Financial Consumers – Global and Indian Perspective on Need for Consumer Protection – Role of Ombudsmen

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Introduction Mr. Douglas Melville, Chairman INFO 2011, all the delegates attending the annual conference of INFO, Ladies and Gentlemen, It gives me immense pleasure to be here in British Columbia and particularly, Vancouver, the beautiful city and share my thoughts on a subject that has occupied centre stage ever since the global financial system has been hit by crisis leading to concerns being raised about the efficacy of laws, regulations and their implementation wi

আগস্ট 29, 2011

Reflections on Regulatory Challenges and Dilemmas

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Good Morning. It is indeed my privilege to be addressing you today in this Conference in which officials from industry and banking sector are participating. Today, I want to reflect on some of the challenges and dilemmas that we face as regulators of the banking system. A few of these challenges and dilemmas are in the context of the rapidly evolving regulatory landscape in the aftermath of the crisis, very aptly reflected in the theme of this Conference “Global banki

আগস্ট 25, 2011

Banking, electronic payments and road ahead

Shri Harun R Khan, Deputy Governor, Reserve Bank of India

Distinguished Ladies and Gentlemen 1. I am glad to be in your midst today to share my thoughts on “Banking, electronic payments and the road ahead”. In fact the subject of my address very well fits the theme of the conference “Global banking: Paradigm shift” and its emphasis on productivity excellence. I am sure the experts whom you would have heard and interacted with over the last two days would have shared their thoughts on the changes and challenges that banking i

আগস্ট 23, 2011

Corporate Governance of Banks in India In Pursuit of Productivity Excellence

Dr. D. Subbarao, Governor, Reserve Bank of India

For the third year in a row, it is my privilege to be addressing this joint conference of FICCI and IBA. I know both corporates and banks attach a lot of value to this conference, and so does the Reserve Bank. A joint forum of FICCI and IBA is an important platform for us in the Reserve Bank to share our views on topics of current relevance with two important segments of the economy - corporates and banks - which have a vital role in, and responsibility for, driving g

আগস্ট 12, 2011

Technology in Banking- In Pursuit of Excellence

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Director IDRBT, Shri B Sambamurthy, faculty members and officers of IDRBT, officials from banks, members of the selection panel, my colleagues from Reserve Bank and all the other participants. It is indeed my privilege to be present here today to honour the recipients of the banking technology awards and deliver the key note address for the 7th edition of the awards. I am grateful to IDRBT for giving me this opportunity. My heartiest congratulations to all the winners

আগস্ট 05, 2011

Indian Education System – Issues and Challenges

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

‘Plants are shaped by cultivation and humans by education’ Mr. Shantanu Prakash, Chairman and CEO, Educomp Solutions Ltd., Mr. Harpreet Singh, President, JRE Group of Institutions, Prof. Stephen Rawlinson, Academic President, JRE Group of Institutions, Mr. Siddharth Mukherjee, Director of Corporate Relations, Prof. Pankaj Gupta, Director, School of Management, Dr. Ramesh Agarwal, Director, JRE Group of Institutions, members of the print and electronic media, students

জুলাই 29, 2011

Secured Online Banking Vs. Customer Convenience – Opportunities and Challenges

Shri G Padmanabhan, Executive Director, Reserve Bank of India

Ladies and Gentlemen, Good morning. It is my pleasure to be here amongst all of you in the Annual conference on secure banking 2011, and share with you some of my thoughts on the subject. I thank IBA and MP TFCI, co-organizers for the event, for this opportunity. 2. Banking, as all of us know, is a business activity synonymous with Trust, and security in banking is a paramount presumption for trust. The concept and perception of such security in banking has, over a pe

জুন 30, 2011

Challenges for Next Generation Banking

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Mr. Krishnan, President of Indian Chamber of Commerce and Industry, Coimbatore; Mr. M. Narendra, Chairman and Managing Director of Indian Overseas Bank; Mr. D. Raj Kumar, Regional General Manager, The Hindu; Mr. K.G. Balakrishnan, Past President of ICCI, Coimbatore; members of ICCI and captains of industries in Coimbatore; representatives of banks in Coimbatore; members of the print and electronic media; distinguished invitees, ladies and gentlemen, 1. I am very happy

জুন 28, 2011

Connecting The Dots

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Shri N Chandrasekaran, CEO & MD, Tata Consultancy Services Ltd., Shri Praveen Toshniwal, Chairman, CII Western Region, Mr Robert Lattimore, ED, Price Waterhouse Coopers (PwC), Shri Dev Ranjan Mukherjee, Head-CII Gujarat State, distinguished guests, friends from the media, ladies and gentlemen. I am thankful to CII for having invited me over to address the participants of the 6th BANKing TECH Summit 2011. At the outset, I would like to congratulate CII and PwC for

জুন 15, 2011

Macroprudential Policies: Indian Experience

Shri Anand Sinha, Deputy Governor, Reserve Bank of India

Introduction 1. Good Morning. It gives me great pleasure to share with you our experience in implementing macroprudential policies in India. The current global financial crisis has brought to fore serious lacunae in the approach to regulation and supervision and put the issue of systemic risk on to the regulatory agenda. A comprehensive definition of systemic risk is, “The risk of disruptions to financial services that is caused by an impairment of all or parts of the

জুন 10, 2011

'Financial Stability : The Indian Experience' presentation by Smt. Shyamala Gopinath, Deputy Governor, RBI at the SAARCFINANCE Governors' Symposium, Kumarakom, Kerala on June 10, 2011

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

জুন 10, 2011

Financial Stability Mandate of Central Banks Issues in the International and Indian Context

Dr. D. Subbarao, Governor, Reserve Bank of India

Financial stability has come centre stage in the post crisis scenario. The discourse has been quite broad spectrum - ranging from first principles such as the definition of financial stability to intellectually involved issues like the implication of financial stability for growth and welfare. Although the crisis originated in the advanced economies, we, in emerging economies too have been affected by it, and indeed by much more than we had thought possible. This cont

জুন 10, 2011

Welcome remarks by Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India at SAARCFINANCE Governors’ Symposium on ‘Financial Stability’

Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India

1. Governor Dr. Subbarao, distinguished Governors, Dr. Reddy, Mr. Caruana, Mr. Ninan, Mrs. Thorat, Deputy Governors, our guests from SAARC central banks and friends. On behalf of the Reserve Bank of India, I extend a warm welcome to you all to the SAARCFINANCE Governor’s Symposium 2011 on the theme of Financial Stability. Just to refresh your memories, the last Governors Symposium organized by us under Dr. Reddy was in 2005 at Mumbai which dealt with the theme of ‘Com

জুন 10, 2011

Monetary policy in a world with macroprudential policy

Jaime Caruana, General Manager, Bank for International Settlements

Introduction Ladies and gentlemen, it is a privilege to be able to speak today to this distinguished group of Governors. As for my subject, I will focus on how monetary policy might need to adjust to the implementation of new macroprudential frameworks. To speak on this topic in India is almost presumptuous, given that the Reserve Bank of India is among those central banks, mainly Asian ones, that have successfully combined both monetary policy and macroprudential mea

জুন 06, 2011

Non-financial Reporting – What, Why and How - Indian Perspective

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Mr Stefan Helming, Country Director, GIZ India, Mr Rakesh Rewari, DMD, SIDBI, Prof Rajeev Gowda, Chair, Centre for Public Policy, IIM-Bangalore, Ms Karin Ireton, Director, Group Sustainability Management, Standard Bank, Dr Aditi Haldar, Director, GRI, India, Ms Richa Bajpai- co founder NextGen, distinguished guests, ladies and gentlemen. It is a pleasure to be here at this National Conference on “Non-Financial Reporting and Risk Management for Financial Institutions i

মার্চ 16, 2011

Banking and Beyond: New Challenges before Indian Financial System

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Lord Stephen Green, Minister for Trade and Investment, UK, distinguished panelists, distinguished guests, ladies and gentlemen. First of all my thanks to Mint, Mumbai, and to my good friends Tamal and R Sukumar for inviting me to initiate today’s debate – “Banking & Beyond: New Challenges Before Indian Financial System” with a panel of luminaries on the stage. Over the years, Mint, through its Clarity Through Debate trail-blazer series has been flagging topical pu

ফেব 18, 2011

Beyond CBS : Fast Forward to Banking 2.0!

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Shri M V Nair, Chairman & Managing Director, Union Bank of India, Shri B Sambamurthy, Director, IDRBT, Shri S S Mundra, Executive Director, Union Bank of India, Shri M G Sanghvi, Executive Director, Bank of Maharashtra, senior bankers, other distinguished guest, ladies and gentlemen. It is a pleasure to be in your midst today at this Executive Roundtable organised by IDRBT in association with Union Bank of India on the theme “Beyond Core Banking”. As you may

ফেব 14, 2011

Introduction of IFRS- Issues and Challenges

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Dr Naresh Chandra, Principal, Birla College, Former Pro Vice Chancellor, Mumbai University, Dr Shyam Agrawal, eminent eye surgeon, Shri M. M. Chitale, veteran CA and Chairman NACAS, Shri U. Venkataraman, CEO- Currency Derivatives Segment & Whole Time Director, MCX-SX, Principal of PDL College of Commerce and Economics and my dear student Dr N. N. Pandey, Prof D. M. Kadhi, Convenor, other distinguished guests, ladies and gentlemen. I am delighted to be present here

জানু 10, 2011

Centrality of banks in the financial system

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

1. I am delighted to be present here amongst you all on the occasion of the 12th Annual Conference of FIMMDA-PDAI. These conferences have over the years assumed importance in not just bringing the participants together to tally notes and network but to take a pause and reflect over the issues arising out of fast changing times. 2. I see from the agenda for the conference that the focus is on the emerging post-crisis regulatory landscape for the financial sector – Base

জানু 07, 2011

Dilemmas in Central Bank Communication: Some Reflections Based on Recent Experience

Dr. D. Subbarao, Governor, Reserve Bank of India

First of all my thanks to Business Standard, and to my good friends T.N. Ninan and Sanjaya Baru, for inviting me to deliver this second Business Standard Annual lecture. This is an honour to which I attach a lot of value. Central Bank Communication 2. As a part of my job, I accept several speaking commitments, and often I struggle to determine the topic for my speech and the key message I should be delivering. From that perspective, deciding on a topic for this lectur

ডিসেম্বর 03, 2010

Five Frontier Issues in Indian Banking

Dr. D. Subbarao, Governor, Reserve Bank of India

First of all, many thanks to the organizers of BANCON 2010 for inviting me to inaugurate this conference. I understand this is a premier banking conference on the annual calendar where the top managements of banks and their economists brainstorm on current issues. The theme for this year’s conference ‘Ideate, Innovate and Inspire’ is thoughtful, imaginative, and most importantly, inspirational. 2. In the aftermath of the crisis, banks, banking and bankers are very muc

নভেম্বর 15, 2010

Developing the Humanware to Improve Customer Service

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Mrs Udeshi, Chairperson, Banking Codes and Standards Board of India (BCSBI), Shri O. P. Bhatt, President, Indian Institute of Banking and Finance (IIBF) and Chairman, IBA, Shri B. M. Mittal, CEO, BCSBI, Shri Bhaskaran, CEO, IIBF, distinguished guests, ladies and gentlemen. It gives me great pleasure to be here to launch the Certificate Course on "Customer Service and Banking Codes and Standards" that has been designed by IIBF in association with BCSBI. IIBF has played

সেপ্টেম্বর 20, 2010

Perspectives on Financial Sector Strategy

Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India

I welcome this initiative by the Asia-Europe Business Forum to organize a discussion on opportunities and challenges for financial services in our respective regions. Virtually all significant debate that is taking place today on financial sector regulation and development, whether in advanced or emerging economies, is placed in the context of the crisis and the role that the financial sector played in it. However, there is a significant asymmetry in that debate, as i

সেপ্টেম্বর 15, 2010

Macro-prudential Approach to Regulation - Scope and Issues- Shyamala Gopinath, DG, RBI

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

1. Explicit pursuit of macroeconomic and financial stability can be said to be the single most significant take away from the recent crisis. More than the specifics, the importance of this mandate lies in decisively effecting a course correction with regard to the approach and philosophy for regulation of the financial system. It is being acknowledged that a macro prudential perspective is critical in designing and pursuing micro prudential regulation of institutions

সেপ্টেম্বর 09, 2010

Preparing Indian Banks for Global Competitiveness : Strategic and Policy Perspectives

Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India

Introduction It would be no exaggeration to say that the financial world is a vastly different place after the crisis. Many propositions that might have been taken for granted until it precipitated are being questioned in its wake. One set of these surely has to be about the things that go into making banks globally competitive. The increasing visibility and dominance of multinational financial corporations in the years before the crisis contributed to the perception

সেপ্টেম্বর 08, 2010

Key Note Address at the Panel Session on “Setting new paradigm in regulation”

Smt. Usha Thorat, Deputy Governor, Reserve Bank of India

The global financial crisis was predominantly a first world phenomenon. The fall out in the emerging market economies (EMEs) was mostly through contagion. The level of financial sector development, complexity of financial markets, extent of deregulation and global integration, the degree of leverage of households and financial intermediaries, the nature of business model and quality of supervision determined the impact of the crisis on any institution or jurisdiction.

সেপ্টেম্বর 07, 2010

Post-Crisis Reforms to Banking Regulation and Supervision – Think Global, Act Local

Dr. D. Subbarao, Governor, Reserve Bank of India

Thank you very much for inviting me to inaugurate this FICCI-IBA Conference on “Global Banking: Paradigm Shift”. This Conference is a flagship event in the annual banking calendar, and I attach a lot of value to this opportunity of speaking to and interacting with the banking community. 2. When I spoke at this forum last year, I had touched on some of the early lessons of the global crisis and how they were shaping the debate on reforms to banking regulation and super

আগস্ট 05, 2010

Financial Crisis - Some Old Questions and Maybe Some New Answers

Dr. D. Subbarao, Governor, Reserve Bank of India

It would be a privilege for anyone to deliver this lecture to honour the memory of Sir Chintaman D. Deshmukh. The privilege is particularly special for a serving Governor of the Reserve Bank of India. Everyday, as I go to work, I bask in the glory of serving a public institution that is held in such high esteem. 2. I am deeply conscious that this high esteem owes a lot to the competence and professionalism of the Reserve Bank’s staff, its institutional values and cult

জুলাই 02, 2010

Central Banks must distill Lessons from the Global Crisis and make Concrete Reforms

Dr. D. Subbarao, Governor, Reserve Bank of India

Central banks have been at the heart of the global financial crisis. They have been blamed for policies and actions that got the world into the crisis; they have been praised for leading the world out of it. Both are fair assessments. Central banks have been a part of the problem and a part of the solution. As the crisis unwinds and recovery takes hold, central banks face a number of issues, of which I will address five. To view the entire Interview please click here.

জুন 07, 2010

Financial Regulation and Financial Inclusion – Working Together or at Cross-purposes

Smt. Usha Thorat, Deputy Governor, Reserve Bank of India

The case for financial inclusion is not based on the principle of equity alone – access to affordable banking services is required for inclusive growth with stability. Achieving financial inclusion in a country like India with a large and diverse population with significant segments in rural and unorganised sectors requires a high level of penetration by the formal financial system. Even in areas that are well covered by banks, there are sections of society excluded f

এপ্রিল 26, 2010

New Paradigms in IT Security in Indian Banks

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Shri M. V. Nair, Chairman, IBA and CMD, Union Bank of India, Shri B. Sambamurthy, Director, IDRBT, Shri Shyamal Ghosh, Chairman, DSCI, Dr. K. Ramakrishnan, CEO, IBA, distinguished speakers and panelists, IT and IT Security professionals, distinguished guests, ladies and gentlemen. 2. Information is at the heart of today’s business, and the all-pervasive impact of Information Technology in harnessing, collating and processing huge volumes of information is definitive.

মার্চ 04, 2010

Indian Perspective on Banking Regulation

Smt. Usha Thorat, Deputy Governor, Reserve Bank of India

1. I am delighted to participate in this Conference on ‘Financial Sector Regulation and Reform in Asian Emerging Markets’ jointly organised by the Asian Development Bank Institute, the International Center for Financial Regulation, the UK Foreign and Commonwealth Office and the Brookings Institution. In the session that just concluded, we heard about financial sector developments in emerging markets. In this session, I will like to present the Indian perspective on ba

ফেব 05, 2010

Infrastructure Finance: Experiences and the Road Ahead

Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India

Respected Dr Rangarajan, Chairman of the Economic Advisory Council of PM, Padma Vibhushan Dr Y V Reddy, Prof (Dr) Suresh C Ghai, President, BMA, Shri G Pinto, Executive Director, BMA, distinguished guests and representatives from the print and electronic media. 1. Getting an award is always an exciting and motivating event particularly when you are getting it in the presence of the doyens or giants of the sector like Dr Rangarajan and Padma Vibhushan Dr Y V Reddy. I a

জানু 19, 2010

Financial Development and Deposit Insurance: Some Linkages

Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India

Introduction Governor, Reserve Bank of India, Dr. D. Subbarao; Deputy Governor, Reserve Bank of India, Ms. Usha Thorat; President, IADI and Vice-Chairman, FDIC, Mr. Martin Gruenberg; Chairman, ARC and Deputy Governor, DICJ, Mr. Mutsuo Hatano;CEO of the Deposit Insurance and Credit Guarantee Corporation Mr. H. N. Prasad; Distinguished Participants; Let me add my own words of welcome to all the participants in this very important event. In his opening address, Governor

জানু 18, 2010

International Conference Funding of Deposit Insurance Systems Hosted by DICGC

Dr. D. Subbarao, Governor, Reserve Bank of India

At the outset, on behalf of the Reserve Bank of India, I welcome you all to India and to this wonderful state of Goa. My thanks also to the Asia Regional Committee (ARC) of the International Association of Deposit Insurers (IADI) for giving an opportunity to the Deposit Insurance and Credit Guarantee Corporation (DICGC) to host this Conference. This event is particularly important for us because it is being hosted as a part of the Platinum Jubilee celebrations of the

জানু 18, 2010

Funding of Deposit Insurance Systems

Smt. Usha Thorat, Deputy Governor, Reserve Bank of India

Ladies and Gentlemen It gives me great pleasure to be in the midst of the deposit insurers of the world. I have had the pleasure of meeting many of you at conferences in the past and I am delighted to see you again at Goa – a favourite tourist destination in India, famous for its beaches, churches and cuisine. I hope you find the time to enjoy what Goa has to offer in addition to conferring on the very relevant subject of “Funding Deposit Insurance System”. 2. The the

জানু 12, 2010

Risk Management - Priorities for the Indian Banking Sector

Smt. Usha Thorat, Deputy Governor, Reserve Bank of India

The new decade is predicted to be more transformational than the first decade of this millennium for the Indian economy and the Indian financial system. If the last ten years have seen transformation in terms of consistently higher growth rates, adoption of core banking solutions, transformation in the payments systems and greater integration with the global economy, the coming decade will see unprecedented volume of business for the Indian financial system as it trie

ডিসেম্বর 04, 2009

Mobile Commerce, Mobile Banking - The Emerging Paradigm

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

1. Introduction 1.1 It is indeed a privilege for me to be here at the "India Telecom 2009" event being organised by the Department of Telecom, Government of India, in collaboration with FICCI. I thank Mr. J.S. Deepak, Joint Secretary, Department of Telecom for extending me an invitation and providing me an opportunity to share my thoughts on Mobile Commerce or M-Commerce. M-Commerce is an area which is rapidly changing the way people conduct their financial transactio

নভেম্বর 27, 2009

Emerging blueprint for prudential regulation - Assessment and challenges

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

1. It is a pleasure to participate in the Confluence 2009 at one of the premier management institutes of the world. It has largely been the symbiotic relationship between the academia and financial sector that has spurred the revolution in finance over the past few decades. Starting from 1973, when the Black Scholes option formula moved almost immediately from paper to practice (the seminal paper was published in the same year, followed by the opening of the world’s f

নভেম্বর 26, 2009

GenNext Banking : Issues and Perspectives

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Introduction At the outset, let me thank the Indian Merchant’s Chamber for inviting me to chair this session on GenNext Banking of the 4th International Banking and Finance Conference 2009. I congratulate the organizers on having chosen such topical and germane topics as “Banking – Crisis and Beyond”, “Credit Instruments- Beyond Vanilla Lending” for the earlier sessions. I particularly congratulate the organizers for selecting the topic “GenNext Banking” for this sess

নভেম্বর 25, 2009

Should Banking Be Made Boring? - An Indian Perspective

Dr. D. Subbarao, Governor, Reserve Bank of India

I. Introduction First of all, my grateful thanks to the Indian Merchants’ Chamber and the Institute of Chartered Accountants of India for inviting me to be the Chief Guest at this year’s International Finance and Banking Conference. The theme of this conference, “Banking - Crisis and Beyond” is relevant and timely. The global financial system has been engulfed in possibly the deepest crisis of our time shaking our world view of the financial sector to its roots. As at

নভেম্বর 10, 2009

Financial Crisis and Beyond

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

Let me first take this opportunity to welcome Deputy Governor Dr. Delun and all members of the Chinese delegation to India. 2. I am very pleased to be present here today to inaugurate the third India China Finance Conference, 2009. The impact of the crisis on countries like India and China has reinforced the global heterogeneity in terms of the structure of financial systems. Both India and China are actively involved in bringing this heterogeneity to the table during

নভেম্বর 03, 2009

Philosophy and practice of financial sector regulation – Space for unorthodoxy

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

It is a privilege to be invited to share my thoughts at this conference. The contribution of FSA in setting the terms of the debate in the aftermath of the crisis has been very significant and crucial. The clarity, conviction and clinical sharpness of arguments one encounters while reading the Turner review ask of us a very fundamental question – how could the world not have expected this crisis? How could the policy regimes world over, barring a few exceptions, faile

অক্টোবর 30, 2009

Changing Dynamics of Legal Risks in Financial Sector - Shyamala Gopinath, Deputy Governor

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

It gives me great pleasure to be amidst you all today to inaugurate this Symposium. 1. At the outset, I may say that this Symposium on “Changing Dynamics of Legal Risks in Financial Sector” could not have been organized at a more appropriate time than now. The recent global financial crisis has brought to light various risks. It has to a great extent blurred the distinction between operational risks and legal risks. As they say, each crisis opens up opportunities for

সেপ্টেম্বর 22, 2009

V K Sharma: Supervising in a Crisis Environment

Shri V.K. Sharma, Executive Director, Reserve Bank of India

I thank International Credit Union Regulators Network for inviting me to this Regulators Roundtable to share our experience of Supervising in Crisis Environment. I greatly appreciate the selection of the topic, the relevance of which cannot be over emphasized today. Urban Cooperative Banks (UCBs) in India are akin to Credit Unions as they are member-driven and are essentially community-based. However, unlike credit unions, UCBs are also permitted to accept deposits fr

সেপ্টেম্বর 10, 2009

Financial Stability: Issues and Challenges

Dr. D. Subbarao, Governor, Reserve Bank of India

I. Global Banking - Paradigm Shift Thank you for inviting me to participate in this FICCI-IBA conference on “Global Banking: Paradigm Shift”. I understand this is one of the important banking conferences in the annual calendar, and so I struggled through what I should say at this valedictory that is central to the theme of the conference. 2. Quite understandably, public discourse over the last one year has been dominated by the global financial crisis; and the future

সেপ্টেম্বর 08, 2009

Global Agenda for Regulatory and Supervisory Reforms: The Stock Taking and Way Forward

Smt. Usha Thorat, Deputy Governor, Reserve Bank of India

I thank the organisers of the FICCI - IBA Conference on Global Banking: Paradigm Shift for having invited me to chair the panel session this afternoon on Strengthening Financial Regulation and Supervision. Macro economic Scenario 2. The massive derailment of the financial sector in the advanced economies has had a knock on effect on the world economy. The world output is expected to contract by 1.4 per cent in 2009, GDP in the advanced economies is projected to declin

আগস্ট 31, 2009

Banking and Finance in India: Developments, Issues and Prospects

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Mr. M.V. Nair, Chairman IBA and Chairman and Managing Director of Union Bank of India; Mr. Bhaskaran, Chief Executive Officer, Indian Institute of Banking and Finance; Representatives from EBTN, Distinguished participants from different parts of the Globe, invited guests, Ladies and Gentlemen: I am delighted to be here amidst all of you at the 62nd International Banking Summer School (IBSS) being organised by the Indian Institute of Banking and Finance (IIBF) jointly

আগস্ট 28, 2009

Ethics and the World of Finance

Dr. D. Subbarao, Governor, Reserve Bank of India

Thank you for inviting me to participate in this unique conference on ‘Ethics and the World of Finance’. This topic would have been relevant at any time. But it is particularly so, given the current financial crisis which has called into question the ethical foundation of the financial world. It is also fitting that we are discussing ethics and the world of finance at Sri Sathya Sai University. The worlds of faith and economic development are profoundly intertwined, i

জুলাই 31, 2009

Global Financial Crisis Questioning the Questions

Dr. D. Subbarao, Governor, Reserve Bank of India

JRD Tata Thank you for inviting me to deliver this year’s JRD Tata Memorial Lecture. It is an honour to which I attach a lot of value. The man whose life this series of lectures commemorates, JRD Tata - or JRD, as he was known - left a great legacy as a visionary, as an industry leader, as a philanthropist, and above all as a humanist. 2. Two words capture JRD’s lasting contribution, nation builder. His commitment to India’s development was deep and abiding, and he wa

জুলাই 11, 2009

Impact of global financial crisis on Reserve Bank of India (RBI) as a National Regulator

Smt. Usha Thorat, Deputy Governor, Reserve Bank of India

I am delighted to be here in Seoul, participating in this 56th EXCOM Meeting and FinPower CEO Forum - my thanks to Secretary General Bayaua for inviting me to make this presentation on the ‘impact of the global financial crisis on RBI as a national regulator’. In order to understand the impact of the global crisis on India and the manner in which the Reserve Bank of India (RBI) responded, it is important to realise that the RBI is a central bank that is entrusted with

জুন 15, 2009

Addressing the Regulatory Perimeter Issues – Indian Experience

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

1. The regulatory perimeter or boundary issue has been engaging the attention of policy makers internationally for quite some time but it was not a central issue associated with the current crisis. Paradoxically the origins as well the severity of impact of the crisis were concentrated in the most heavily regulated institutions. However, in my view, the real issue lay in not recognizing and addressing the dynamic inter-connectedness between entities across regulated,

জুন 10, 2009

Emerging Contours of Financial Regulation : Challenges and Dynamics

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

The world is currently in the midst of the most severe financial and economic crisis since the Great Depression. Although the crisis originated in the sub-prime mortgage market in the United States, it then spread to Europe and later to the rest of the world. The speed of the contagion that spread across the world is perhaps unprecedented. What started off as a relatively limited crisis in the US housing mortgage sector turned successively into a widespread banking cr

মার্চ 03, 2009

Lessons for Financial Policymaking - Interpreting the Dilemmas

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

I was really struggling to select a theme for today’s address. I intended it to be relevant but not repetitive, comprehensive but not broad brush, having a policymaker’s perspective but not too uni-dimensional. Finally the theme I zeroed down on emerged out of this very exercise of the balancing act - the dilemmas and conflicts thrown up for the policymakers by the paradoxical character of recent turn of events in the global financial markets. It is rather surprising

ডিসেম্বর 04, 2008

Mitigating Spillovers and Contagion Lessons from the Global Financial Crisis

Dr. D. Subbarao, Governor, Reserve Bank of India

1. On behalf of the Reserve Bank of India, it is my pleasure and privilege to welcome all of you international delegates to India, to this wonderful city of Hyderabad, and to this RBI-BIS Seminar on "Mitigating Spillovers and Contagion - Lessons from the Global Financial Crisis". Seminar Context 2. This seminar is the second successive BIS seminar to be organised by the RBI, and marks an important milestone in the intellectual collaboration between the Bank for Intern