Speeches - RBI - Reserve Bank of India
Speeches & Media Interactions
Monetary Policy Statement by Shri Shaktikanta Das, RBI Governor August 08, 2024
Speeches
Oct 28, 2015
Whither the Co-operative Banking?
Dear Co-operators, I am thankful to the Maharashtra State Urban Co-operative Banks’ Federation for inviting me to this Seminar. The topic chosen for the Seminar is very contemporary. While I will certainly make a few points about it later, I would like to first discuss the current status of the urban co-operative banking in India, how it reached there, what recent initiatives the Reserve Bank has taken to strengthen the sector and what is the way forward. 2. The organ
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Dear Co-operators, I am thankful to the Maharashtra State Urban Co-operative Banks’ Federation for inviting me to this Seminar. The topic chosen for the Seminar is very contemporary. While I will certainly make a few points about it later, I would like to first discuss the current status of the urban co-operative banking in India, how it reached there, what recent initiatives the Reserve Bank has taken to strengthen the sector and what is the way forward. 2. The organ
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Oct 06, 2015
Indian Banking Sector- A Regulatory Perspective
H.E. Shri Vijay Thakur Singh, Indian High Commissioner to Singapore; Smt. Arundhati Bhattacharya, Chairman, State Bank of India; Shri Piyush Gupta, Chief Executive Officer, DBS Group; Shri Ajay Kanwal, Regional CEO, ASEAN and South Asia, Standard Chartered; Shri Gunit Chadha, Member of Deutsche Bank Group Executive Committee, Co-CEO Asia Pacific, Deutsche Bank AG; Shri Rajiv Verma, CEO, HT Media Ltd; delegates at the Conference; ladies and gentlemen! 2. At the outset,
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
H.E. Shri Vijay Thakur Singh, Indian High Commissioner to Singapore; Smt. Arundhati Bhattacharya, Chairman, State Bank of India; Shri Piyush Gupta, Chief Executive Officer, DBS Group; Shri Ajay Kanwal, Regional CEO, ASEAN and South Asia, Standard Chartered; Shri Gunit Chadha, Member of Deutsche Bank Group Executive Committee, Co-CEO Asia Pacific, Deutsche Bank AG; Shri Rajiv Verma, CEO, HT Media Ltd; delegates at the Conference; ladies and gentlemen! 2. At the outset,
Sep 18, 2015
Sustainable Growth in the Financial Sector: 2015
Coimbatore Krishnarao Prahalad was born in Tamil Nadu. One of nine children, he obtained an undergraduate degree in physics from the University of Madras and went on to a diploma at IIM, Ahmedabad as a member of the first graduating batch. He followed that with a DBA from Harvard Business School in 1975. Prahalad started his academic career at the University of Michigan in 1977, and in 1990, he and Gary Hamel co-authored an article in the Harvard Business Review title
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Coimbatore Krishnarao Prahalad was born in Tamil Nadu. One of nine children, he obtained an undergraduate degree in physics from the University of Madras and went on to a diploma at IIM, Ahmedabad as a member of the first graduating batch. He followed that with a DBA from Harvard Business School in 1975. Prahalad started his academic career at the University of Michigan in 1977, and in 1990, he and Gary Hamel co-authored an article in the Harvard Business Review title
Sep 16, 2015
Financing India’s Growth - Challenges and Way Ahead
Shri Yaduvendra Mathur, Chairman & Managing Director, Export Import Bank of India; Shri Sunil Srivastava, Dy Managing Director, State Bank of India; Shri Alok Shriram, President , PHD Chamber of Commerce and Industry (PHDCCI); Shri Sanjeev Gupta, Chairman, Banking Committee, PHDCCI; delegates to the Summit; members of the print and electronic media; ladies and gentlemen! I am grateful to the PHD Chamber for inviting me to deliver the keynote address on a very impo
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Shri Yaduvendra Mathur, Chairman & Managing Director, Export Import Bank of India; Shri Sunil Srivastava, Dy Managing Director, State Bank of India; Shri Alok Shriram, President , PHD Chamber of Commerce and Industry (PHDCCI); Shri Sanjeev Gupta, Chairman, Banking Committee, PHDCCI; delegates to the Summit; members of the print and electronic media; ladies and gentlemen! I am grateful to the PHD Chamber for inviting me to deliver the keynote address on a very impo
Sep 15, 2015
Asset Reconstruction and NPA Management in India
Ladies and Gentlemen, Very Good Morning. 2. It is indeed a pleasure to be present here and interact with you on the important issue of management of non-performing assets in India. Such events are quite important especially when there is a surge in stressed assets in banking in the recent times. Current Position 3. However, if we look a little far back, the asset quality of the Indian banking system was not like this; it had actually been improving significantly since
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen, Very Good Morning. 2. It is indeed a pleasure to be present here and interact with you on the important issue of management of non-performing assets in India. Such events are quite important especially when there is a surge in stressed assets in banking in the recent times. Current Position 3. However, if we look a little far back, the asset quality of the Indian banking system was not like this; it had actually been improving significantly since
Sep 09, 2015
Financial Consumer (Depositor) Protection – Reflections on Some Lingering Questions
At the outset, let me express my pleasure at being here today with you on the occasion of the M R Pai Memorial Lecture; it is my proud honour to have presented the Eleventh M R Pai Memorial award to Madam Smt K J Udeshi, former Deputy Governor, Reserve Bank and former Chairperson, Banking Codes and Standards Board of India (BCSBI). It is normal for teachers to be presenting awards and prizes to their students and wards; but it is a strange thing for a student to prese
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
At the outset, let me express my pleasure at being here today with you on the occasion of the M R Pai Memorial Lecture; it is my proud honour to have presented the Eleventh M R Pai Memorial award to Madam Smt K J Udeshi, former Deputy Governor, Reserve Bank and former Chairperson, Banking Codes and Standards Board of India (BCSBI). It is normal for teachers to be presenting awards and prizes to their students and wards; but it is a strange thing for a student to prese
Sep 04, 2015
Basel III Implementation- Challenges for Indian banking system
I am indeed privileged to be sharing the dais with stalwarts and thank ASSOCHAM for giving me this opportunity to speak on challenges in implementing Basel III in India. 2. Basel III framework was basically the response of the global banking regulators to deal with the factors, more specifically those relating to the banking system that led to the global economic crisis or the great recession. In the advanced economies, there was a huge fiscal cost for protecting the
Shri N.S. Vishwanathan, Executive Director, Reserve Bank of India
I am indeed privileged to be sharing the dais with stalwarts and thank ASSOCHAM for giving me this opportunity to speak on challenges in implementing Basel III in India. 2. Basel III framework was basically the response of the global banking regulators to deal with the factors, more specifically those relating to the banking system that led to the global economic crisis or the great recession. In the advanced economies, there was a huge fiscal cost for protecting the
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 25, 2015
Disruptive Innovation and Inclusive Growth – Some Random Thoughts
Friends, Disruptive Innovation 2. By this time, I am sure, you all have heard any number of times through these two days what a disruptive innovation is. Let me make you hear that one more time that it is an innovation that helps create a new market and value network and eventually disrupts an existing market and value network over a few years, displacing an earlier technology. 3. The theory of disruptive innovation was invented by Clayton Christensen, of Harvard Busi
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Friends, Disruptive Innovation 2. By this time, I am sure, you all have heard any number of times through these two days what a disruptive innovation is. Let me make you hear that one more time that it is an innovation that helps create a new market and value network and eventually disrupts an existing market and value network over a few years, displacing an earlier technology. 3. The theory of disruptive innovation was invented by Clayton Christensen, of Harvard Busi
Aug 24, 2015
Strong Sustainable Growth for the Indian Economy
We live in an increasingly uncertain world. Seven years after the financial crisis, advanced economies are still growing slowly, while a number of emerging economies are experiencing difficulty as the old export-led growth model flounders. In this environment, there is both challenge and opportunity. Challenge because the world will not provide the strong and supportive growth environment we had in the last decade, opportunity because global capital is looking for inv
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
We live in an increasingly uncertain world. Seven years after the financial crisis, advanced economies are still growing slowly, while a number of emerging economies are experiencing difficulty as the old export-led growth model flounders. In this environment, there is both challenge and opportunity. Challenge because the world will not provide the strong and supportive growth environment we had in the last decade, opportunity because global capital is looking for inv
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
Aug 10, 2015
Strong Financial Services Sector: Imperative for Sustainable Growth
Good Morning to you all! I am pleased to be here this morning to speak to the delegates of this International Conference and I thank ICAI for providing me this opportunity. As you all know, the theme of this morning’s session is “Financial Services Sector- Agenda for Sustainable Growth” and as somebody who has spent his entire professional life in the banking sector - first as a commercial banker and now as a Central banker, I would speak with a particular emphasis on
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Good Morning to you all! I am pleased to be here this morning to speak to the delegates of this International Conference and I thank ICAI for providing me this opportunity. As you all know, the theme of this morning’s session is “Financial Services Sector- Agenda for Sustainable Growth” and as somebody who has spent his entire professional life in the banking sector - first as a commercial banker and now as a Central banker, I would speak with a particular emphasis on
Aug 03, 2015
IT Governance and IT Strategy: Board’s Eye View
Dr. A. Ramasastri, Director, Institute for Development and Research in Banking Technology (IDRBT), Prof. Sivakumaran, co-ordinator of the programme, participating Directors from banks, faculty of IDRBT, ladies and gentlemen. I am glad to be in the midst of this distinguished gathering to take part in the valedictory session on the programme on 'IT Governance for Directors of Banks'. I thank IDRBT for arranging this topical seminar, which I believe, will greatly contri
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Dr. A. Ramasastri, Director, Institute for Development and Research in Banking Technology (IDRBT), Prof. Sivakumaran, co-ordinator of the programme, participating Directors from banks, faculty of IDRBT, ladies and gentlemen. I am glad to be in the midst of this distinguished gathering to take part in the valedictory session on the programme on 'IT Governance for Directors of Banks'. I thank IDRBT for arranging this topical seminar, which I believe, will greatly contri
Jul 23, 2015
Unintended consequences of new international supervisory framework: An Emerging Market Perspective
Bonjour! Thank you Ms. Anne Le Lorier for your thoughts. It is my pleasure to deliver the key note address at this RBI-BdF joint Conference being hosted by Banque de France. Let me begin by thanking you and the BdF for your warmth, friendliness and cordiality. Banque de France is one of the oldest central banks in the world, set up in January 1800 by Napoléon Bonaparte with the objective of fostering renewed economic growth in the wake of the deep recession of the Rev
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Bonjour! Thank you Ms. Anne Le Lorier for your thoughts. It is my pleasure to deliver the key note address at this RBI-BdF joint Conference being hosted by Banque de France. Let me begin by thanking you and the BdF for your warmth, friendliness and cordiality. Banque de France is one of the oldest central banks in the world, set up in January 1800 by Napoléon Bonaparte with the objective of fostering renewed economic growth in the wake of the deep recession of the Rev
Jul 15, 2015
Securitisation in India: Ambling Down or Revving up?
Financial sector’s primary role is intermediation between ultimate savers and ultimate investors. Initially, it was banks which were the intermediaries. As the financial sector evolved, other types of financial institutions came on the scene to undertake such intermediation directly, or between and among other intermediaries. A parallel development is the emergence of varieties of financial products, far removed from simple deposits and advances, delivering such inter
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Financial sector’s primary role is intermediation between ultimate savers and ultimate investors. Initially, it was banks which were the intermediaries. As the financial sector evolved, other types of financial institutions came on the scene to undertake such intermediation directly, or between and among other intermediaries. A parallel development is the emergence of varieties of financial products, far removed from simple deposits and advances, delivering such inter
Jun 30, 2015
Financial Education: Basics and Beyond
Shri P. K. Panda, Principal, CAB; Shri Sandip Ghose, Director, NiSM; delegates to Conference; my colleagues at RBI and friends from the banking fraternity! It is a pleasure to be here this morning to deliver the keynote address at this Conference on Financial Literacy. I understand that it is quite a heterogeneous group with representation of various stake holders in the field of financial inclusion, literacy and consumer protection and hence, I believe you would have
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Shri P. K. Panda, Principal, CAB; Shri Sandip Ghose, Director, NiSM; delegates to Conference; my colleagues at RBI and friends from the banking fraternity! It is a pleasure to be here this morning to deliver the keynote address at this Conference on Financial Literacy. I understand that it is quite a heterogeneous group with representation of various stake holders in the field of financial inclusion, literacy and consumer protection and hence, I believe you would have
Jun 26, 2015
Financial Frauds – Prevention: A Question of Knowing Somebody
Ladies and Gentlemen, it’s a great pleasure for me to be amidst all of you this morning to inaugurate the conference on Financial Frauds – Risks and prevention. Introduction 2. “There are three things in the world that deserve no mercy - hypocrisy, fraud, and tyranny” - Frederick William Robertson There is no universally accepted definition for the term ‘fraud’. The laws in many countries do not define fraud; it actually needs no definition; it is as old as falsehood
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen, it’s a great pleasure for me to be amidst all of you this morning to inaugurate the conference on Financial Frauds – Risks and prevention. Introduction 2. “There are three things in the world that deserve no mercy - hypocrisy, fraud, and tyranny” - Frederick William Robertson There is no universally accepted definition for the term ‘fraud’. The laws in many countries do not define fraud; it actually needs no definition; it is as old as falsehood
Jun 23, 2015
Future and new thoughts on co-operative banks
The co-operative movement in India is more than a century old; regulation thereof is also more than a century old with the first major impetus provided by the passage of the Co-operative Society Act in 1904. The co-operatives have come a long way and have seen many ups and downs since then; they have played the original role in financial inclusion and taking care of banking and credit needs of the lower and middle strata of society, in the length and breadth of India,
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
The co-operative movement in India is more than a century old; regulation thereof is also more than a century old with the first major impetus provided by the passage of the Co-operative Society Act in 1904. The co-operatives have come a long way and have seen many ups and downs since then; they have played the original role in financial inclusion and taking care of banking and credit needs of the lower and middle strata of society, in the length and breadth of India,
Jun 22, 2015
Roundtable on Capacity Building in Banks
I appreciate CAFRAL for taking the initiative of holding this roundtable on capacity building in banks. As I am given to understand, the objective of this roundtable is to discuss the key aspects of the recommendations of the Committee on Capacity Building in Banks and Non-Bank Institutions (Chairman: Shri G. Goplalakrishna) and to formulate strategy to streamline and implement the recommendations. I also understand that the issues and challenges in implementing these
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
I appreciate CAFRAL for taking the initiative of holding this roundtable on capacity building in banks. As I am given to understand, the objective of this roundtable is to discuss the key aspects of the recommendations of the Committee on Capacity Building in Banks and Non-Bank Institutions (Chairman: Shri G. Goplalakrishna) and to formulate strategy to streamline and implement the recommendations. I also understand that the issues and challenges in implementing these
May 28, 2015
Indian Payments System Kaleidoscope
Shri. M. Balachandran, Chairman, National Payments Corporation of India (NPCI); Shri A.P.Hota, MD & CEO, NPCI; members of the NPCI Board, other distinguished guests, delegates to the Conference from India and abroad ; ladies and gentlemen! It is a privilege to be in the midst of this distinguished gathering to deliver the valedictory address at the “International Conference on National Payment Schemes” this afternoon. Indeed, this is a unique initiative by NPCI, t
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Shri. M. Balachandran, Chairman, National Payments Corporation of India (NPCI); Shri A.P.Hota, MD & CEO, NPCI; members of the NPCI Board, other distinguished guests, delegates to the Conference from India and abroad ; ladies and gentlemen! It is a privilege to be in the midst of this distinguished gathering to deliver the valedictory address at the “International Conference on National Payment Schemes” this afternoon. Indeed, this is a unique initiative by NPCI, t
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