Speeches - Regulating Commercial Banking - RBI - Reserve Bank of India
Speeches
Jun 07, 2010
Financial Regulation and Financial Inclusion – Working Together or at Cross-purposes
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
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
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Apr 26, 2010
New Paradigms in IT Security in Indian Banks
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.
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.
Mar 04, 2010
Indian Perspective on Banking Regulation
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
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
Feb 05, 2010
Infrastructure Finance: Experiences and the Road Ahead
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
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
Jan 19, 2010
Financial Development and Deposit Insurance: Some Linkages
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
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
Jan 18, 2010
International Conference Funding of Deposit Insurance Systems Hosted by DICGC
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
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
Jan 18, 2010
Funding of Deposit Insurance Systems
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
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
Jan 12, 2010
Risk Management - Priorities for the Indian Banking Sector
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
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
Dec 04, 2009
Mobile Commerce, Mobile Banking - The Emerging Paradigm
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
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
Nov 27, 2009
Emerging blueprint for prudential regulation - Assessment and challenges
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
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
Nov 26, 2009
GenNext Banking : Issues and Perspectives
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
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
Nov 25, 2009
Should Banking Be Made Boring? - An Indian Perspective
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
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
Nov 10, 2009
Financial Crisis and Beyond
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
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
Nov 03, 2009
Philosophy and practice of financial sector regulation – Space for unorthodoxy
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
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
Oct 30, 2009
Changing Dynamics of Legal Risks in Financial Sector - Shyamala Gopinath, Deputy Governor
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
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
Sep 22, 2009
V K Sharma: Supervising in a Crisis Environment
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
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
Sep 10, 2009
Financial Stability: Issues and Challenges
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
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
Sep 08, 2009
Global Agenda for Regulatory and Supervisory Reforms: The Stock Taking and Way Forward
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
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
Aug 31, 2009
Banking and Finance in India: Developments, Issues and Prospects
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
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
Aug 28, 2009
Ethics and the World of Finance
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
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
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