Speeches - Foreign Exchange Management - RBI - Reserve Bank of India
Foreign Exchange Management Act Announcement
Speeches
Aug 22, 2024
Local to Global: The Role of the Financial Sector in MSME's Development - Speech by Shri Swaminathan J, Deputy Governor, Reserve Bank of India - August 21, 2024 - at the Annual Day of the Foreign Exchange Dealers Association of India (FEDAI) held in Mumbai
1. Distinguished guests, ladies, and gentlemen. A very good evening to all of you. 2. It is a great honour to speak to this august gathering on FEDAI’s Annual Day. Through its tireless efforts in clarifying the complexities of inter-bank foreign exchange business and serving as a crucial voice with regulators, FEDAI has played a pivotal role in shaping the rules of foreign exchange business in India. So, when Mr. Sindhwani, Chief Executive invited me to this event, I knew it was an opportunity I could not miss.
Shri Swaminathan J, Deputy Governor, Reserve Bank of India
1. Distinguished guests, ladies, and gentlemen. A very good evening to all of you. 2. It is a great honour to speak to this august gathering on FEDAI’s Annual Day. Through its tireless efforts in clarifying the complexities of inter-bank foreign exchange business and serving as a crucial voice with regulators, FEDAI has played a pivotal role in shaping the rules of foreign exchange business in India. So, when Mr. Sindhwani, Chief Executive invited me to this event, I knew it was an opportunity I could not miss.
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Oct 21, 2022
Internationalisation of the Rupee: Is it time to shift gears? - Keynote address delivered by Shri T Rabi Sankar, Deputy Governor, Reserve Bank of India - October 20, 2022 - Annual Day event of the Foreign Exchange Dealers Association of India (FEDAI) at Mumbai
Good Evening. It gives me great pleasure to be part of the annual day event of the Foreign Exchange Dealers Association of India (FEDAI). Since its inception in 1958, FEDAI has played a crucial role in the smooth conduct of foreign exchange business and development of forex markets. This role assumes greater significance in today’s age of rapidly evolving forex markets and innovations in financial products and instruments. 2. The global situation continues to experien
Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India
Good Evening. It gives me great pleasure to be part of the annual day event of the Foreign Exchange Dealers Association of India (FEDAI). Since its inception in 1958, FEDAI has played a crucial role in the smooth conduct of foreign exchange business and development of forex markets. This role assumes greater significance in today’s age of rapidly evolving forex markets and innovations in financial products and instruments. 2. The global situation continues to experien
Oct 14, 2021
India’s Capital Account Management – An assessment
1. In the previous FEDAI Annual Day address in November 2020, Governor Shri Shaktikanta Das had observed that CAC will continue to be approached “as a process rather than an event”. What I will do in this address is to expand on that theme and bring into focus some of the important issues on which, in my opinion, further public debate is warranted, to continue along this process of capital account convertibility. What is capital account convertibility? 2. The balance
Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India
1. In the previous FEDAI Annual Day address in November 2020, Governor Shri Shaktikanta Das had observed that CAC will continue to be approached “as a process rather than an event”. What I will do in this address is to expand on that theme and bring into focus some of the important issues on which, in my opinion, further public debate is warranted, to continue along this process of capital account convertibility. What is capital account convertibility? 2. The balance
Sep 19, 2019
Dimensions of India’s External Sector Resilience
The international environment is clouded with very challenging conditions. Global growth is slowing down and central banks across the world are bracing up to counter it by easing monetary policy; but there is no recession as yet. Trade wars have pushed world trade into contraction and threaten to morph into tech and currency wars, with no evidence of any significant gains accruing to anyone. Meanwhile, global commodity prices have weakened, with collateral benefits to
Shri Shaktikanta Das, Governor, Reserve Bank of India
The international environment is clouded with very challenging conditions. Global growth is slowing down and central banks across the world are bracing up to counter it by easing monetary policy; but there is no recession as yet. Trade wars have pushed world trade into contraction and threaten to morph into tech and currency wars, with no evidence of any significant gains accruing to anyone. Meanwhile, global commodity prices have weakened, with collateral benefits to
Aug 26, 2019
Trade War: Is it a prelude to deglobalisation?
1. I am delighted to be here today and am grateful to the FAI and the organisers of this conference for inviting me to speak to this gathering. I am also happy to be in Singapore, a country which truly epitomises all that can be called achievements of globalisation, and a country with which India had and continues to have multifaceted engagement covering cultural, ethnic and economic spheres. FAI, a body of forex market professionals who intermediate between the suppl
Shri B. P. Kanungo, Deputy Governor, Reserve Bank of India
1. I am delighted to be here today and am grateful to the FAI and the organisers of this conference for inviting me to speak to this gathering. I am also happy to be in Singapore, a country which truly epitomises all that can be called achievements of globalisation, and a country with which India had and continues to have multifaceted engagement covering cultural, ethnic and economic spheres. FAI, a body of forex market professionals who intermediate between the suppl
Apr 25, 2019
India’s growing significance in global arena. Is it Sustainable? Are we ready for it?
1. It is a great pleasure to be amidst you today and I wish to thank FEDAI and the organisers of this conference for the privilege to speak to you. FEDAI has been playing a seminal role in steering the cross-border transactions of the members of public as well as interbank transactions in the foreign exchange market for more than six decades now. It may be recalled that FEDAI was formed to secularise foreign exchange transactions in the early days when only select bra
Shri B. P. Kanungo, Deputy Governor, Reserve Bank of India
1. It is a great pleasure to be amidst you today and I wish to thank FEDAI and the organisers of this conference for the privilege to speak to you. FEDAI has been playing a seminal role in steering the cross-border transactions of the members of public as well as interbank transactions in the foreign exchange market for more than six decades now. It may be recalled that FEDAI was formed to secularise foreign exchange transactions in the early days when only select bra
Mar 02, 2017
Improving investor interest – Recent Legislative and Regulatory Measures
It is a well recognized fact that clear and efficient laws provide confidence to the investing community. Such investments can be by domestic entities or foreign entities or investment overseas by domestic entities. In the recent past, India has embarked upon a number of legislative and regulatory measures that are certain to create a positive impact on the investment climate prevailing in the country and capable of boosting the confidence of investors. A few such mea
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
It is a well recognized fact that clear and efficient laws provide confidence to the investing community. Such investments can be by domestic entities or foreign entities or investment overseas by domestic entities. In the recent past, India has embarked upon a number of legislative and regulatory measures that are certain to create a positive impact on the investment climate prevailing in the country and capable of boosting the confidence of investors. A few such mea
Jun 21, 2016
Foreign Exchange Market & Cross-border Transactions: Some Random Reflections
Shri C. Venkat Nageshwar, Chairman, Foreign Exchange Dealers Association of India (FEDAI), Shri Ravi Sinha, Acting Consul General of India in Hong Kong, Shri D. G. Patwardhan, outgoing CEO of FEDAI, Shri Ashwani Sindhwani, incoming CEO of FEDAI, distinguished speakers and panellists and delegates to the Conference. It is a great pleasure to be here today in this modern city of Hong Kong which Wikipedia describes as world's most competitive economy, the world's most vi
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Shri C. Venkat Nageshwar, Chairman, Foreign Exchange Dealers Association of India (FEDAI), Shri Ravi Sinha, Acting Consul General of India in Hong Kong, Shri D. G. Patwardhan, outgoing CEO of FEDAI, Shri Ashwani Sindhwani, incoming CEO of FEDAI, distinguished speakers and panellists and delegates to the Conference. It is a great pleasure to be here today in this modern city of Hong Kong which Wikipedia describes as world's most competitive economy, the world's most vi
Mar 16, 2016
Global Economic Turmoil: Impact on Indian Economy and the Way Forward
It is a pleasure to be here amongst the captains of Indian Industries who drive India’s growth amidst global uncertainty and economic slowdown. I thank the organisers for allowing me to share my thoughts on a topic which is quite relevant in the current context. 2. While preparing myself for today’s discussion, I was not very sure whether the current global economic situation warrants the characterisation as “turmoil”. Turmoil is defined as “a state of great disturban
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
It is a pleasure to be here amongst the captains of Indian Industries who drive India’s growth amidst global uncertainty and economic slowdown. I thank the organisers for allowing me to share my thoughts on a topic which is quite relevant in the current context. 2. While preparing myself for today’s discussion, I was not very sure whether the current global economic situation warrants the characterisation as “turmoil”. Turmoil is defined as “a state of great disturban
May 18, 2015
Is India ready for full Capital Account Convertibility?
Esteemed members of the Governing council of the MSNM Besant Institute of PG Management Studies, banker friends, faculty and students of the institute, ladies and gentlemen, 1. Thank you for inviting me to speak this evening. I am truly impressed by the rich tradition of this institution and congratulate all those associated with it for rendering yeomen service to the society. This part of the country has always boasted about the educational institutions and is home t
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Esteemed members of the Governing council of the MSNM Besant Institute of PG Management Studies, banker friends, faculty and students of the institute, ladies and gentlemen, 1. Thank you for inviting me to speak this evening. I am truly impressed by the rich tradition of this institution and congratulate all those associated with it for rendering yeomen service to the society. This part of the country has always boasted about the educational institutions and is home t
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
Feb 27, 2015
Some Thoughts on Forex Markets in India
Introduction It is indeed a pleasure for me to be here at the India Treasury Summit to share my thoughts on the Indian Foreign Exchange Market. This forum provides an important platform for interaction amongst the corporate treasurers, finance professionals and market participants and it is being held at a time when the financial world is beset with uncertainties regarding economic growth prospects, oil and commodity prices and monetary policy stances of major economi
Shri G. Mahalingam, Executive Director, Reserve Bank of India
Introduction It is indeed a pleasure for me to be here at the India Treasury Summit to share my thoughts on the Indian Foreign Exchange Market. This forum provides an important platform for interaction amongst the corporate treasurers, finance professionals and market participants and it is being held at a time when the financial world is beset with uncertainties regarding economic growth prospects, oil and commodity prices and monetary policy stances of major economi
Oct 06, 2014
Indian Foreign Exchange Market: Recent Developments and the Road Ahead
It is indeed a pleasure to address the trading professionals in the Indian foreign exchange market at the Forex Association of India’s 25th Annual Forex Assembly. The emerging and enchanting city of Gurgaon provides the right backdrop for holding such a conference as this city epitomizes phenomenal growth and development symbolizing the best of “Made in India” and “Make in India” and in a similar vein the Indian forex market has also witnessed tremendous growth and de
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
It is indeed a pleasure to address the trading professionals in the Indian foreign exchange market at the Forex Association of India’s 25th Annual Forex Assembly. The emerging and enchanting city of Gurgaon provides the right backdrop for holding such a conference as this city epitomizes phenomenal growth and development symbolizing the best of “Made in India” and “Make in India” and in a similar vein the Indian forex market has also witnessed tremendous growth and de
Aug 06, 2014
FEMA administration- Prospects and Challenges
1. It is a great pleasure and privilege to be here today. I thank the Kuwait/Muscat Chapter of the Institute of Chartered Accountants of India for the unique opportunity to address its members and a cross section of Indian population in the Gulf Region. The Institute has set high standards in professionalism and contributed greatly to the development of the corporate business. It is heartening to note that the Institute has a large presence in this region and that the
Shri G Padmanabhan, Executive Director, Reserve Bank of India
1. It is a great pleasure and privilege to be here today. I thank the Kuwait/Muscat Chapter of the Institute of Chartered Accountants of India for the unique opportunity to address its members and a cross section of Indian population in the Gulf Region. The Institute has set high standards in professionalism and contributed greatly to the development of the corporate business. It is heartening to note that the Institute has a large presence in this region and that the
Jun 30, 2014
Governance in the Corporate Sector – Certain Perspectives
Mr. Sridharan, President, Institute of Company Secretaries of India (ICSI), Mr. Khare Vice-President, Mr. Sahoo, ladies and gentlemen. Good afternoon. It is my pleasure and privilege to address this gathering today at the conclusion of the 15th National Conference of Practicing Company Secretaries (PCS) held under the aegis of ICSI. When my good friend Mr. Sahoo asked me to address this august gathering, I accepted with alacrity since I am aware that the ICSI has been
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Mr. Sridharan, President, Institute of Company Secretaries of India (ICSI), Mr. Khare Vice-President, Mr. Sahoo, ladies and gentlemen. Good afternoon. It is my pleasure and privilege to address this gathering today at the conclusion of the 15th National Conference of Practicing Company Secretaries (PCS) held under the aegis of ICSI. When my good friend Mr. Sahoo asked me to address this august gathering, I accepted with alacrity since I am aware that the ICSI has been
Apr 21, 2014
Regulating Capital Account: Some Thoughts
1. It gives me great pleasure to be with you in this beautiful city of Cape Town for the 9thAnnual Conference of the Foreign Exchange Dealers Association of India (FEDAI). Cape Town is a celebrated tourist destination, particularly at this time of the year. The place and time are ideal for mixing business with pleasure. For me, speaking to you, the pleasure is mixed with some trepidation because we are living in times when there is uncertainty all round not only in th
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
1. It gives me great pleasure to be with you in this beautiful city of Cape Town for the 9thAnnual Conference of the Foreign Exchange Dealers Association of India (FEDAI). Cape Town is a celebrated tourist destination, particularly at this time of the year. The place and time are ideal for mixing business with pleasure. For me, speaking to you, the pleasure is mixed with some trepidation because we are living in times when there is uncertainty all round not only in th
Jan 15, 2014
Global Liquidity and Financial Contagion
I thank Mrs. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL) for the opportunity of being a part of this very distinguished panel. With the “great moderation” of high growth and low inflation, consideration of liquidity almost fell off from the lexicon of central banks. Arguably, with central banks targeting interest rates, liquidity becomes endogenous. Of course, liquidity is the flip side of the same coin. If one were to target a
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank Mrs. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL) for the opportunity of being a part of this very distinguished panel. With the “great moderation” of high growth and low inflation, consideration of liquidity almost fell off from the lexicon of central banks. Arguably, with central banks targeting interest rates, liquidity becomes endogenous. Of course, liquidity is the flip side of the same coin. If one were to target a
Dec 05, 2013
Administering FEMA - Evolving Challenges
DG Shri H R Khan, Chairman, Foreign Exchange Dealers Association of India, Officials from the Authorised Dealer Banks, and my colleagues from RBI from all over the country, 1. A very good morning and welcome to this historic city of Agra. It is customary in these annual gatherings to take stock of the developments in the area of foreign exchange management over the preceding one year and discuss the context and content of the in-the-pipeline changes contemplated. The
Shri G Padmanabhan, Executive Director, Reserve Bank of India
DG Shri H R Khan, Chairman, Foreign Exchange Dealers Association of India, Officials from the Authorised Dealer Banks, and my colleagues from RBI from all over the country, 1. A very good morning and welcome to this historic city of Agra. It is customary in these annual gatherings to take stock of the developments in the area of foreign exchange management over the preceding one year and discuss the context and content of the in-the-pipeline changes contemplated. The
Oct 11, 2013
Welcome to India: State of the Indian economy, banking sector and factoring services
Mr. Gerhard Prenner, Chairman, International Factors Group (IFG); Mr. Pramod Bhasin, Founder & Vice Chairman, Genpact Limited; Mr. Sanjay Chamria, Co-founder & CEO, Magma Fincorp Limited; Mr. Ravi Gupta, Managing Director, Blend Financial Services Ltd.; delegates to the conference, ladies and gentlemen! It gives me great pleasure to welcome you all, especially the foreign delegates, to India and to this historic city of New Delhi for IFG’s Annual Conference. I
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mr. Gerhard Prenner, Chairman, International Factors Group (IFG); Mr. Pramod Bhasin, Founder & Vice Chairman, Genpact Limited; Mr. Sanjay Chamria, Co-founder & CEO, Magma Fincorp Limited; Mr. Ravi Gupta, Managing Director, Blend Financial Services Ltd.; delegates to the conference, ladies and gentlemen! It gives me great pleasure to welcome you all, especially the foreign delegates, to India and to this historic city of New Delhi for IFG’s Annual Conference. I
Oct 07, 2013
Certain Uncertainties, Uncertain Certainties: India in an interconnected world
Presentation 1. It is a pleasure to be here today at the 40th annual convention of the Department of Business Economics of the University of Delhi. Let me begin by congratulating the Department for selecting a very appropriate theme for the Convention – “Embracing uncertainty: India in an interconnected world”. The events over the last few years – beginning from the onset of the global financial crisis, the sovereign debt crisis and, more recently, the events triggere
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Presentation 1. It is a pleasure to be here today at the 40th annual convention of the Department of Business Economics of the University of Delhi. Let me begin by congratulating the Department for selecting a very appropriate theme for the Convention – “Embracing uncertainty: India in an interconnected world”. The events over the last few years – beginning from the onset of the global financial crisis, the sovereign debt crisis and, more recently, the events triggere
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Page Last Updated on: December 12, 2024
