I am delighted to have been invited by Federal Bank to deliver the K P Hormis Commemorative Lecture today. Late Shri K P Hormis, the founder of the Federal Bank, was a great institution builder who recognised early the critical role of entrepreneurs in an economy, the importance of banks in providing finance, particularly to small scale entrepreneurs, and the need for prudence in banking business to preserve financial stability. 2. Despite the multiple and overlapping

1. A very good morning to all of you. It is indeed a pleasure to be here amidst all of you today at the 17th annual conference of FEDAI. These annual events of FEDAI provide an excellent opportunity for the exchange of ideas and thoughts among the foreign exchange market participants and I am sure this one will be no exception. 2. Today, as I speak to the market veterans assembled here in Cairo, it strikes me that it is fitting perhaps that this conference is being he

1. The Launching of Mission ‘Har Payment Digital’ today during the Digital Payments Awareness Week (DPAW) 2023 reinforces RBI’s commitment to deepen digital payments in the country. 2. I am happy to note that the Department of Payment and Settlement Systems (DPSS) of the RBI is celebrating its 18th anniversary (it was formed on March 7, 2005). Congratulations to team DPSS on this milestone. Over the years our payment systems have evolved and now we have multiple syste