Speeches - RBI - Reserve Bank of India
Speeches
Sep 27, 2016
Challenges in Developing the Bond Market in BRICS
I. Introduction I notice that the Seminar is on developing bond markets in BRICS. Though bond markets include both the government securities market and the corporate bonds market, I would dwell upon only on corporate debt market. The reason is simple. The government securities market in the BRICS countries have attained a definite positions, whereas the corporate bonds market are at nascent stage. 2. For example, India’s Government securities market - by whatever crit
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
I. Introduction I notice that the Seminar is on developing bond markets in BRICS. Though bond markets include both the government securities market and the corporate bonds market, I would dwell upon only on corporate debt market. The reason is simple. The government securities market in the BRICS countries have attained a definite positions, whereas the corporate bonds market are at nascent stage. 2. For example, India’s Government securities market - by whatever crit
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Aug 26, 2016
Strengthening Our Debt Markets
Thank you for inviting me to speak to FEDAI. In the last few weeks, in successive speeches, I have outlined the RBI’s approach to inflation, distressed debt, financial inclusion, and banking sector reform. I want to speak today about debt markets and associated derivatives; why we need them to be deep and liquid, why, in addition to central and state governments, we need riskier firms and projects to be able to access the bond markets for funds, why we need to encoura
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Thank you for inviting me to speak to FEDAI. In the last few weeks, in successive speeches, I have outlined the RBI’s approach to inflation, distressed debt, financial inclusion, and banking sector reform. I want to speak today about debt markets and associated derivatives; why we need them to be deep and liquid, why, in addition to central and state governments, we need riskier firms and projects to be able to access the bond markets for funds, why we need to encoura
Apr 19, 2016
Indian Debt Market 2020 : The Underpinnings & the Path Ahead
Shri N. S. Venkatesh, Executive Director, IDBI Bank & Chairman, FIMMDA, Shri B. Prasanna, Chairman PDAI, senior colleagues from the banking fraternity, delegates from India & UK, ladies and gentlemen. It is my pleasure to be part of the Annual FIMMDA-PDAI Conference being held in one of the leading financial centres of the world. London is home of one of the world’s oldest central banks and epitomizes the intellectual churning that has happened internationally
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Shri N. S. Venkatesh, Executive Director, IDBI Bank & Chairman, FIMMDA, Shri B. Prasanna, Chairman PDAI, senior colleagues from the banking fraternity, delegates from India & UK, ladies and gentlemen. It is my pleasure to be part of the Annual FIMMDA-PDAI Conference being held in one of the leading financial centres of the world. London is home of one of the world’s oldest central banks and epitomizes the intellectual churning that has happened internationally
Nov 06, 2015
Corporate Bond Markets in India: A Framework for Further Action
Speaking at this event - in this panel - leaves me with a sense of déjà vu. The fact that I spoke about the same issue at the same forum three years back in 2012 – and many other fora earlier – reflects the deep-rooted, inertial nature of underlying factors. At least for more than 10 years now development of corporate bond markets in India has been the focus of all stakeholders but the arduous pursuit of the ‘holy grail’ has not delivered desired results. In the proce
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Speaking at this event - in this panel - leaves me with a sense of déjà vu. The fact that I spoke about the same issue at the same forum three years back in 2012 – and many other fora earlier – reflects the deep-rooted, inertial nature of underlying factors. At least for more than 10 years now development of corporate bond markets in India has been the focus of all stakeholders but the arduous pursuit of the ‘holy grail’ has not delivered desired results. In the proce
Aug 25, 2015
Financial Market Regulation in India – Looking Back, Looking Ahead
Mr. Jiri Rusnok, Former Prime Minister & Member of the Board of the Czech National Bank; Dr. M. Venkatachalam, Charge d’Affairs Indian Embassy, Prague; Mr. N. S. Venkatesh, Chairman FIMMDA; Mr. Pradeep Madhav, PDAI; distinguished panelists and all the delegates. It gives me great pleasure to be delivering the keynote address for the FIMMDA – PDAI Annual Conference in this culturally rich, historically vibrant, naturally blessed city of Prague which still maintains
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Mr. Jiri Rusnok, Former Prime Minister & Member of the Board of the Czech National Bank; Dr. M. Venkatachalam, Charge d’Affairs Indian Embassy, Prague; Mr. N. S. Venkatesh, Chairman FIMMDA; Mr. Pradeep Madhav, PDAI; distinguished panelists and all the delegates. It gives me great pleasure to be delivering the keynote address for the FIMMDA – PDAI Annual Conference in this culturally rich, historically vibrant, naturally blessed city of Prague which still maintains
Aug 12, 2015
Financing for Infrastructure: Current Issues & Emerging Challenges
Smt. Arundhati Bhattacharya, Chairman, State Bank of India Group, Shri V G Kannan, Managing Director, State Bank of India, Shri Praveen Gupta, MD & CEO SBICAP, Shri Abhay Chaudhari, President & COO, SBICAP, Shri Supratim Sarkar, Executive Vice President, SBICAP, esteemed guest speakers, colleagues and friends from SBI & SBICAP and participants. It gives me immense pleasure to deliver the keynote address in this wonderful setting where the annual conclave o
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Smt. Arundhati Bhattacharya, Chairman, State Bank of India Group, Shri V G Kannan, Managing Director, State Bank of India, Shri Praveen Gupta, MD & CEO SBICAP, Shri Abhay Chaudhari, President & COO, SBICAP, Shri Supratim Sarkar, Executive Vice President, SBICAP, esteemed guest speakers, colleagues and friends from SBI & SBICAP and participants. It gives me immense pleasure to deliver the keynote address in this wonderful setting where the annual conclave o
Apr 06, 2015
Musings of a Departing Forex Market Regulator
Mr. Gupta, Chairman, FEDAI, Mr. Vohra, Mr. Banerjee, Vice- Chairmen, Mr. Patwardhan, CEO, my banker friends, colleagues from the RBI, ladies and gentlemen, 1. It gives me great pleasure to be here with you this morning. The Foreign Exchange Dealers’ Association of India has been choosing exciting overseas locations for its annual conventions these days, and this beautiful city, with its long history and increasing pre-eminence in European and international affairs is
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Mr. Gupta, Chairman, FEDAI, Mr. Vohra, Mr. Banerjee, Vice- Chairmen, Mr. Patwardhan, CEO, my banker friends, colleagues from the RBI, ladies and gentlemen, 1. It gives me great pleasure to be here with you this morning. The Foreign Exchange Dealers’ Association of India has been choosing exciting overseas locations for its annual conventions these days, and this beautiful city, with its long history and increasing pre-eminence in European and international affairs is
Mar 23, 2015
Corporate Debt Market: What needs to be done - A Reaffirmation
Good morning ladies and gentlemen! 2. I would like to thank CARE Ratings for taking this initiative of holding this Summit on the corporate debt market. As I can see, the seminar is quite exhaustive in content and we will be having some excellent speakers representing various segments of the industry and hence it will be very interesting to hear their views. As a regulator, we in the Reserve Bank do have our own approach to the development of any market, but to hear t
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Good morning ladies and gentlemen! 2. I would like to thank CARE Ratings for taking this initiative of holding this Summit on the corporate debt market. As I can see, the seminar is quite exhaustive in content and we will be having some excellent speakers representing various segments of the industry and hence it will be very interesting to hear their views. As a regulator, we in the Reserve Bank do have our own approach to the development of any market, but to hear t
Jan 29, 2015
Derivatives Dynamics: Looking Back & Looking Ahead
Prof. Sesha R. Iyer, Prof. Suresh G Lalwani, Prof. Ranjit Pattanaik and learned panellists & invitees. I am happy to be here today on the occasion of the Finance Conclave 2015 on ‘Indian Derivatives Markets – Striking a Balance between Risk Protection and Liquidity’ organized by the SP Jain Institute of Management & Research and share some of my thoughts on the dynamics of derivatives in the Indian context. 2. ‘Derivatives’ have for quite some time been a tote
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Prof. Sesha R. Iyer, Prof. Suresh G Lalwani, Prof. Ranjit Pattanaik and learned panellists & invitees. I am happy to be here today on the occasion of the Finance Conclave 2015 on ‘Indian Derivatives Markets – Striking a Balance between Risk Protection and Liquidity’ organized by the SP Jain Institute of Management & Research and share some of my thoughts on the dynamics of derivatives in the Indian context. 2. ‘Derivatives’ have for quite some time been a tote
Sep 03, 2014
Finance, Credit and Markets
The role of the financial system is to intermediate between lenders and borrowers and provide avenues for saving and help investors find their financing needs. The financial markets impact growth by channeling saving to firms and improving the allocation of capital. Moreover, efficient financial markets and institutions tend to lower search and transactions costs in the economy. 2. As the industrialized nations’ economies grew in the eighteenth, nineteenth and twentie
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
The role of the financial system is to intermediate between lenders and borrowers and provide avenues for saving and help investors find their financing needs. The financial markets impact growth by channeling saving to firms and improving the allocation of capital. Moreover, efficient financial markets and institutions tend to lower search and transactions costs in the economy. 2. As the industrialized nations’ economies grew in the eighteenth, nineteenth and twentie
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