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Sep 28, 2021
Responsible Digital Innovation - Speech by Shri T Rabi Sankar, Deputy Governor, Reserve Bank of India – Tuesday, September 28, 2021 - Address to the Global Fintech Festival

Good morning. 1. Fintech, or technology that provides digital financial services is transforming the provision and delivery of financial services. At its most basic level digital technology enables speed – speed in processing information and speed in communication. Processing speed has reduced cost and time for transactions while communication speed has enhanced connectivity of systems expanding the reach of transactions. Taken together, digital technology is changing

Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India

Good morning. 1. Fintech, or technology that provides digital financial services is transforming the provision and delivery of financial services. At its most basic level digital technology enables speed – speed in processing information and speed in communication. Processing speed has reduced cost and time for transactions while communication speed has enhanced connectivity of systems expanding the reach of transactions. Taken together, digital technology is changing

Sep 20, 2021
Heed to Heal - Climate Change is the Emerging Financial Risk
1. A very good morning to all of you. I am thankful to CAFRAL for having given me an opportunity to interact with the participants of the Virtual Conference on Green and Sustainable Finance. 2. The theme of today’s Conference i.e., Green and Sustainable Finance is highly contextual. While the pandemic brought in a myriad set of challenges for the authorities around the world in framing and implementing policies for supporting lives and livelihoods, it has also given u
Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India
1. A very good morning to all of you. I am thankful to CAFRAL for having given me an opportunity to interact with the participants of the Virtual Conference on Green and Sustainable Finance. 2. The theme of today’s Conference i.e., Green and Sustainable Finance is highly contextual. While the pandemic brought in a myriad set of challenges for the authorities around the world in framing and implementing policies for supporting lives and livelihoods, it has also given u
Sep 16, 2021
Monetary Policy: Trial by Pandemic

Shri Nilesh Shah, Chairman, CII National Committee on Financial Markets, Shri Vishal Kampani, Co-Chair, Ms. Anuradha Salwan, Head, Financial Sector, CII, Ms. Amita Sarkar, Deputy Director General, CII and friends, I am honoured to be invited to deliver the keynote address in this plenary session of the 12th edition of the Financial Markets Summit organized by the Confederation of Indian Industry (CII). Over the years, the Summit has emerged as a flagship event for tak

Dr. Michael Debabrata Patra, Deputy Governor, Reserve Bank of India

Shri Nilesh Shah, Chairman, CII National Committee on Financial Markets, Shri Vishal Kampani, Co-Chair, Ms. Anuradha Salwan, Head, Financial Sector, CII, Ms. Amita Sarkar, Deputy Director General, CII and friends, I am honoured to be invited to deliver the keynote address in this plenary session of the 12th edition of the Financial Markets Summit organized by the Confederation of Indian Industry (CII). Over the years, the Summit has emerged as a flagship event for tak

Sep 13, 2021
Regulatory Framework for Account Aggregators
I extend my gratitude for this invitation and opportunity to be here with you all. Hope all of you are keeping safe in these challenging times. 1. Technology has transformed our lives in this increasingly interconnected world with mobiles and hand-held devices enabling ubiquitous access and broader reach. It has concomitantly enabled businesses to penetrate new markets and new geographies which they were hitherto unable to reach. This growth of technology also has the
Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India
I extend my gratitude for this invitation and opportunity to be here with you all. Hope all of you are keeping safe in these challenging times. 1. Technology has transformed our lives in this increasingly interconnected world with mobiles and hand-held devices enabling ubiquitous access and broader reach. It has concomitantly enabled businesses to penetrate new markets and new geographies which they were hitherto unable to reach. This growth of technology also has the
Aug 31, 2021
Keynote Address at the 21st FIMMDA-PDAI Annual Conference on August 31, 2021 - Shri Shaktikanta Das, Governor, Reserve Bank of India

It is my pleasure to be part of the Annual FIMMDA-PDAI Conference today. I take this opportunity to place on record the Reserve Bank’s deep appreciation of the key role played by FIMMDA and PDAI in the development of financial markets in India. Both organizations have played a significant role in improving the depth and liquidity of interest rate markets and in supporting primary issuance by the Government. Introduction 2. During May last year, in one of my statements

Shri Shaktikanta Das, Governor, Reserve Bank of India

It is my pleasure to be part of the Annual FIMMDA-PDAI Conference today. I take this opportunity to place on record the Reserve Bank’s deep appreciation of the key role played by FIMMDA and PDAI in the development of financial markets in India. Both organizations have played a significant role in improving the depth and liquidity of interest rate markets and in supporting primary issuance by the Government. Introduction 2. During May last year, in one of my statements

Jul 22, 2021
Central Bank Digital Currency – Is This the Future of Money
Introduction The idea of “Central Bank Digital Currencies” (CBDC) is not a recent development. Some attribute the origins of CBDCs to Nobel laureate James Tobin2, an American economist, who in 1980s suggested that that Federal Reserve Banks in the United States could make available to the public a widely accessible ‘medium with the convenience of deposits and the safety of currency.’ It is only in the last decade, however, that the concept of digital currency has been
Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India
Introduction The idea of “Central Bank Digital Currencies” (CBDC) is not a recent development. Some attribute the origins of CBDCs to Nobel laureate James Tobin2, an American economist, who in 1980s suggested that that Federal Reserve Banks in the United States could make available to the public a widely accessible ‘medium with the convenience of deposits and the safety of currency.’ It is only in the last decade, however, that the concept of digital currency has been
Apr 16, 2021
Open Banking in India
Ladies and Gentlemen, A very warm good morning to you in Brasilia with the hopes and prayers that all of you remain safe and healthy from the clutches of the pandemic that is still raging amongst us. I am grateful to His Excellency, Shri Suresh Reddy, Ambassador of India in Brazil for extending this kind invitation to interact with you all in this futuristic but extremely relevant topic of Open Banking2. 1. The modern world has become increasingly interconnected with
Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen, A very warm good morning to you in Brasilia with the hopes and prayers that all of you remain safe and healthy from the clutches of the pandemic that is still raging amongst us. I am grateful to His Excellency, Shri Suresh Reddy, Ambassador of India in Brazil for extending this kind invitation to interact with you all in this futuristic but extremely relevant topic of Open Banking2. 1. The modern world has become increasingly interconnected with
Nov 06, 2020
NBFC Regulation- Looking ahead
Dr. Charan Singh, Shri Deepak Sood, Shri Ramesh Iyer, Shri Vineet Agarwal, Shri S. Ramann, Shri Sunil Kanoria, Shri Raman Agarwal, Ladies and Gentlemen, I thank the Associated Chambers of Commerce and Industry of India for this very kind invitation to address the ‘National E-Summit on Non-Banking Finance Companies’- with the theme “Stability and sustainability of Financial Sector”. 2. At this juncture, NBFC sector is passing through a critical phase. Recent failures o
Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India
Dr. Charan Singh, Shri Deepak Sood, Shri Ramesh Iyer, Shri Vineet Agarwal, Shri S. Ramann, Shri Sunil Kanoria, Shri Raman Agarwal, Ladies and Gentlemen, I thank the Associated Chambers of Commerce and Industry of India for this very kind invitation to address the ‘National E-Summit on Non-Banking Finance Companies’- with the theme “Stability and sustainability of Financial Sector”. 2. At this juncture, NBFC sector is passing through a critical phase. Recent failures o
Jul 11, 2020
Indian Economy at a Crossroad: A view from Financial Stability Angle

A very warm good morning to you all. I wish to thank the State Bank of India for inviting me to deliver the keynote address today. I sincerely appreciate the efforts of the organising team in putting together this virtual conference which has now become a new normal. Banks and other financial entities are today at the forefront of the country’s counter measures against the economic impact of COVID-19. They are the transmission channels for RBI’s monetary, regulatory a

Shri Shaktikanta Das, Governor, Reserve Bank of India

A very warm good morning to you all. I wish to thank the State Bank of India for inviting me to deliver the keynote address today. I sincerely appreciate the efforts of the organising team in putting together this virtual conference which has now become a new normal. Banks and other financial entities are today at the forefront of the country’s counter measures against the economic impact of COVID-19. They are the transmission channels for RBI’s monetary, regulatory a

Mar 25, 2019
Opportunities and Challenges of FinTech - Shri Shaktikanta Das, Governor, Reserve Bank of India - March 25, 2019 - Keynote Address Delivered at the NITI Aayog’s FinTech Conclave

I am extremely happy to participate in NITI Aayog’s FinTech Conclave 2019 and share my thoughts on the technological revolution that is shaping the future of finance. I am particularly thankful to Shri Amitabh Kant, CEO of NITI Aayog for having invited me to such an august gathering. As I understand, this Conclave is woven around the theme of Indian FinTech ecosystem as well as steps required to help achieve the potential that the sector offers towards growth, employm

I am extremely happy to participate in NITI Aayog’s FinTech Conclave 2019 and share my thoughts on the technological revolution that is shaping the future of finance. I am particularly thankful to Shri Amitabh Kant, CEO of NITI Aayog for having invited me to such an august gathering. As I understand, this Conclave is woven around the theme of Indian FinTech ecosystem as well as steps required to help achieve the potential that the sector offers towards growth, employm

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