Speeches - RBI - Reserve Bank of India
Speeches & Media Interactions
Monetary Policy Statement by Shri Shaktikanta Das, RBI Governor August 08, 2024
Speeches
Nov 15, 2011
Financial Sector Regulation for Growth, Equity and Stability in the Post Crisis World
Introduction I am delighted to join Governor Subbarao and his colleagues at the Reserve Bank of India at this conference on “Financial sector regulation for growth, equity and stability in the post-crisis world”. And I would like to thank Usha Thorat, the first head of the Centre for Advanced Financial Research and Learning, for the invitation. All credit is due to Governor Subbarao and Usha Thorat for this important initiative. One of the lessons of this crisis is ou
Jaime Caruana, General Manager, Bank for International Settlements
Introduction I am delighted to join Governor Subbarao and his colleagues at the Reserve Bank of India at this conference on “Financial sector regulation for growth, equity and stability in the post-crisis world”. And I would like to thank Usha Thorat, the first head of the Centre for Advanced Financial Research and Learning, for the invitation. All credit is due to Governor Subbarao and Usha Thorat for this important initiative. One of the lessons of this crisis is ou
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Nov 15, 2011
Financial Regulation for Growth, Equity and Stability in the Post-Crisis World
Let me start by telling you about the motivation for the conference theme. 2. Failure of regulation, by wide agreement, was one of the main causes of the 2008 global financial crisis. It is unsurprising therefore that reforming regulation has come centre stage post-crisis. The progress in regulatory reforms over the last two years has been impressive, but the agenda ahead remains formidable. Regulation will bring in benefits by way of financial stability, but it also
Dr. D. Subbarao, Governor, Reserve Bank of India
Let me start by telling you about the motivation for the conference theme. 2. Failure of regulation, by wide agreement, was one of the main causes of the 2008 global financial crisis. It is unsurprising therefore that reforming regulation has come centre stage post-crisis. The progress in regulatory reforms over the last two years has been impressive, but the agenda ahead remains formidable. Regulation will bring in benefits by way of financial stability, but it also
Nov 14, 2011
Bank Resolution Framework Challenges in the Indian Context
On behalf of the Reserve Bank of India, let me once again extend a hearty welcome to all the delegates to this IADI-DICGC International Conference on the Role of Deposit Insurance in Bank Resolution Framework - Lessons from the Financial Crisis. Welcome also to this Sun City of Jodhpur - on the edge of the Thar Desert - a city of forts and palaces, lakes and gardens, and folklore and legend that represents - in its mellifluous blend of tradition and modernity - the be
Dr. D. Subbarao, Governor, Reserve Bank of India
On behalf of the Reserve Bank of India, let me once again extend a hearty welcome to all the delegates to this IADI-DICGC International Conference on the Role of Deposit Insurance in Bank Resolution Framework - Lessons from the Financial Crisis. Welcome also to this Sun City of Jodhpur - on the edge of the Thar Desert - a city of forts and palaces, lakes and gardens, and folklore and legend that represents - in its mellifluous blend of tradition and modernity - the be
Nov 14, 2011
Financial Inclusion and Financial Stability : Are they two sides of the same coin?
Presentation 1. It is always a pleasure to be a part of such a confluence of bankers and researchers on contemporary issues in banking and finance but to choose to speak on an area which needs to be either ‘wholesomely new’ or ‘extensively revised’ at such a forum becomes a challenge. I thank the organizers, the CMD of Indian Overseas Bank and the Chairman of IBA for offering me this opportunity to share my own thoughts on a topical issue that has engaged attention of
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Presentation 1. It is always a pleasure to be a part of such a confluence of bankers and researchers on contemporary issues in banking and finance but to choose to speak on an area which needs to be either ‘wholesomely new’ or ‘extensively revised’ at such a forum becomes a challenge. I thank the organizers, the CMD of Indian Overseas Bank and the Chairman of IBA for offering me this opportunity to share my own thoughts on a topical issue that has engaged attention of
Nov 14, 2011
Getting ‘IT' Right
Dr V A Joseph, Managing Director and CEO, South Indian Bank, Shri B Sambamurthy, Director, IDRBT, other senior bank officials, ladies and gentlemen, it is indeed a matter of great pleasure for me to deliver the keynote address at the workshop on ‘Beyond Core Banking’. I am extremely grateful to IDRBT for giving me this opportunity. 2. The city of Kochi brings many thoughts to my mind, but I would confine myself mainly to the topic of our round table today. Kochi had t
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Dr V A Joseph, Managing Director and CEO, South Indian Bank, Shri B Sambamurthy, Director, IDRBT, other senior bank officials, ladies and gentlemen, it is indeed a matter of great pleasure for me to deliver the keynote address at the workshop on ‘Beyond Core Banking’. I am extremely grateful to IDRBT for giving me this opportunity. 2. The city of Kochi brings many thoughts to my mind, but I would confine myself mainly to the topic of our round table today. Kochi had t
Nov 14, 2011
Post-Crisis: The New Normal
The aftermath of the recent global financial crisis bears testimony to the fact that impact of the turmoil is severe and the recovery therefrom is protracted, resulting in significant losses in output and employment for an extended period of time. Even two-years after the recent crisis, there are lingering apprehensions that global economy in general and advanced economies in particular may suffer double-dip recession. 2. There is a perception that advanced countries
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
The aftermath of the recent global financial crisis bears testimony to the fact that impact of the turmoil is severe and the recovery therefrom is protracted, resulting in significant losses in output and employment for an extended period of time. Even two-years after the recent crisis, there are lingering apprehensions that global economy in general and advanced economies in particular may suffer double-dip recession. 2. There is a perception that advanced countries
Nov 11, 2011
Convergence of Mobile Banking, Financial Inclusion and Consumer Protection-Trend
Ms Ursula Menke, Commissioner , Financial Consumer Agency of Canada and Chair of the International Financial Consumer Protection Network (FinCoNet), distinguished participants, ladies and gentlemen. I thank the FinCoNet for including a special session on Financial Inclusion, Mobile Banking and Consumer Protection in today's agenda and inviting me to share the Indian perspective. Further, given the extent of financial exclusion that prevails in India where out of the 6
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Ms Ursula Menke, Commissioner , Financial Consumer Agency of Canada and Chair of the International Financial Consumer Protection Network (FinCoNet), distinguished participants, ladies and gentlemen. I thank the FinCoNet for including a special session on Financial Inclusion, Mobile Banking and Consumer Protection in today's agenda and inviting me to share the Indian perspective. Further, given the extent of financial exclusion that prevails in India where out of the 6
Nov 08, 2011
Gearing up for the Competitive Impulse in the Indian Banking in its defining decade
I: Introduction Dear Shri Narendra, CMD, Indian Overseas Bank and host of Bancon 2011, Shri M.D. Mallya, Chairman, Indian Banks Association and CMD, Bank of Baroda, Shri M.V. Nair, CMD, Union Bank of India, Shri S. Raman, CMD, Canara Bank, CMDs and EDs of other banks present here, fellow Bankers and all the delegates attending BANCON 2011, representatives of the print and electronic media, Ladies and Gentlemen. 2. It is my pleasure and privilege to be here to share my
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
I: Introduction Dear Shri Narendra, CMD, Indian Overseas Bank and host of Bancon 2011, Shri M.D. Mallya, Chairman, Indian Banks Association and CMD, Bank of Baroda, Shri M.V. Nair, CMD, Union Bank of India, Shri S. Raman, CMD, Canara Bank, CMDs and EDs of other banks present here, fellow Bankers and all the delegates attending BANCON 2011, representatives of the print and electronic media, Ladies and Gentlemen. 2. It is my pleasure and privilege to be here to share my
Nov 03, 2011
Growth, Resilience and Reform: Reflections on Post-crisis Policy Challenges*
Introduction It is a privilege and a pleasure for me to be delivering the 45th A. D. Shroff Memorial Lecture. The list of speakers who preceded me reads like an honour roll of the business and policy establishment in our country and I am proud to be a part of this very distinguished set of people. I am also very glad that the venue of the lecture is the Indian Merchants’ Chamber. 2011 marks the 20th anniversary of the reform initiative of 1991. Early that year, IMC an
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction It is a privilege and a pleasure for me to be delivering the 45th A. D. Shroff Memorial Lecture. The list of speakers who preceded me reads like an honour roll of the business and policy establishment in our country and I am proud to be a part of this very distinguished set of people. I am also very glad that the venue of the lecture is the Indian Merchants’ Chamber. 2011 marks the 20th anniversary of the reform initiative of 1991. Early that year, IMC an
Oct 31, 2011
Economic and Financial Developments in Goa
I thank the Goa Chamber of Commerce and Industry and Shri Mangarish Pai Raikar for inviting me to address this distinguished gathering. As currently Goa is celebrating the Golden Jubilee Year of its Liberation, I thought that the occasion is appropriate to highlight the recent economic achievements of the state. The scenic state of Goa is the 25th state in the union of states of India. It covers 0.11 per cent of the total geographical area of the country and accounts
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank the Goa Chamber of Commerce and Industry and Shri Mangarish Pai Raikar for inviting me to address this distinguished gathering. As currently Goa is celebrating the Golden Jubilee Year of its Liberation, I thought that the occasion is appropriate to highlight the recent economic achievements of the state. The scenic state of Goa is the 25th state in the union of states of India. It covers 0.11 per cent of the total geographical area of the country and accounts
Oct 19, 2011
Inflation | Decoding the Dynamics
In India, we have multiple price gauges—six consumer price indices (CPIs) and a Wholesale Price Index (WPI). While the Reserve Bank of India (RBI) examines all the price indices, both at aggregate and disaggregated levels, changes in WPI are taken as the headline inflation for policy articulation. Within WPI, non-food manufactured products inflation is considered the core inflation—an indicator of demand condition. Going by any measure of inflation, India comes out as
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
In India, we have multiple price gauges—six consumer price indices (CPIs) and a Wholesale Price Index (WPI). While the Reserve Bank of India (RBI) examines all the price indices, both at aggregate and disaggregated levels, changes in WPI are taken as the headline inflation for policy articulation. Within WPI, non-food manufactured products inflation is considered the core inflation—an indicator of demand condition. Going by any measure of inflation, India comes out as
Oct 19, 2011
Identifying Systemic Risk in Global Markets – Lessons learned from the crisis
In my considered opinion, systemic risks in the global markets can be best identified and measured by looking at some select key parameters which, between them, indicate the extent of asset bubbles and the corresponding under-pricing of risks. In other words, it is not so much high volatility, which is the ‘effect’, that should be a cause for concern as persistent and excessively low volatility, which is the ‘cause’, and was the hallmark of the pre-crisis period. In p
Shri V.K. Sharma, Executive Director, Reserve Bank of India
In my considered opinion, systemic risks in the global markets can be best identified and measured by looking at some select key parameters which, between them, indicate the extent of asset bubbles and the corresponding under-pricing of risks. In other words, it is not so much high volatility, which is the ‘effect’, that should be a cause for concern as persistent and excessively low volatility, which is the ‘cause’, and was the hallmark of the pre-crisis period. In p
Oct 14, 2011
Financial Inclusion and Banks : Issues and Perspectives
Ms. Naina Lal Kidwai, Vice President, FICCI and Country Head HSBC India & Director, HSBC Asia Pacific, Ms Meera Sanyal, Chairperson, FICCI’s Financial Inclusion Committee & Country Executive India, The Royal Bank of Scotland N.V., Ms Caitlin Wiesen, Country Director, UNDP, Mr Mathew Titus, Co-chair, FICCI’s Financial Inclusion Committee & Executive Director, Sa-Dhan, Ms Jyoti Vij, Assistant Secretary General, FICCI, members of the print and electronic medi
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Ms. Naina Lal Kidwai, Vice President, FICCI and Country Head HSBC India & Director, HSBC Asia Pacific, Ms Meera Sanyal, Chairperson, FICCI’s Financial Inclusion Committee & Country Executive India, The Royal Bank of Scotland N.V., Ms Caitlin Wiesen, Country Director, UNDP, Mr Mathew Titus, Co-chair, FICCI’s Financial Inclusion Committee & Executive Director, Sa-Dhan, Ms Jyoti Vij, Assistant Secretary General, FICCI, members of the print and electronic medi
Oct 12, 2011
Financial Inclusion | A road India needs to travel
India has seen historic progress and growth in the past decade. While the growth story has been impressive, there are causes for concern on other dimensions. We have a long way to go in addressing concerns of absolute poverty. Low-income Indian households in the informal or subsistence economy often have to borrow from friends, family or usurious moneylenders. They have little awareness and practically no access to insurance products that could protect their financial
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
India has seen historic progress and growth in the past decade. While the growth story has been impressive, there are causes for concern on other dimensions. We have a long way to go in addressing concerns of absolute poverty. Low-income Indian households in the informal or subsistence economy often have to borrow from friends, family or usurious moneylenders. They have little awareness and practically no access to insurance products that could protect their financial
Oct 10, 2011
Monetary Policy: Key factors Shaping Trajectory
Subir Gokarn, Deputy Governor, Reserve Bank of India. Published in the www.livemint.com on September 22, 2011. For energy-importing economies such as China and India, monetary policy is going to be influenced by global oil price movements as long as oil remains the predominant incremental source of energy The core objectives of monetary policy in the future will remain what they have been in the past. The primary objective of monetary policy is a low and stable inflat
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Subir Gokarn, Deputy Governor, Reserve Bank of India. Published in the www.livemint.com on September 22, 2011. For energy-importing economies such as China and India, monetary policy is going to be influenced by global oil price movements as long as oil remains the predominant incremental source of energy The core objectives of monetary policy in the future will remain what they have been in the past. The primary objective of monetary policy is a low and stable inflat
Oct 07, 2011
Welcome Remarks by Dr. D. Subbarao, RBI Governor at the talk delivered by Dr. Arvind Subramanian
1. I have great pleasure in welcoming Arvind Subramanian, Senior Fellow at the Peterson Institute for International Economics, Washington DC. He will shortly be speaking to us on ‘Will the Renminbi Eclipse the Dollar?’ based, I believe, on his latest book ‘Eclipse’. 2. It will be presumptuous on my part to introduce Arvind. Some of us are privileged to know him personally, and almost everyone here knows him by name and by reputation. Stature and Reputation 3. Over the
Dr. D. Subbarao, Governor, Reserve Bank of India
1. I have great pleasure in welcoming Arvind Subramanian, Senior Fellow at the Peterson Institute for International Economics, Washington DC. He will shortly be speaking to us on ‘Will the Renminbi Eclipse the Dollar?’ based, I believe, on his latest book ‘Eclipse’. 2. It will be presumptuous on my part to introduce Arvind. Some of us are privileged to know him personally, and almost everyone here knows him by name and by reputation. Stature and Reputation 3. Over the
Sep 28, 2011
Central Banking in the Post Crisis Era: Experiences and Way Forward
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Sep 28, 2011
Indian Economy: Progress and Prospects
It is an honour and privilege for me to be speaking at Harvard to such a distinguished audience. I thank Professor Benjamin Friedman and Professor Tarun Khanna for this opportunity. I will be speaking on the Indian Economy. India is home to 1.21 billion people, which is about 17.4 per cent of the global population. However, it accounts for only 2.4 per cent of world GDP in US dollar terms and 5.5 per cent in purchasing power parity (ppp) terms. Hence, there exists a h
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
It is an honour and privilege for me to be speaking at Harvard to such a distinguished audience. I thank Professor Benjamin Friedman and Professor Tarun Khanna for this opportunity. I will be speaking on the Indian Economy. India is home to 1.21 billion people, which is about 17.4 per cent of the global population. However, it accounts for only 2.4 per cent of world GDP in US dollar terms and 5.5 per cent in purchasing power parity (ppp) terms. Hence, there exists a h
Sep 27, 2011
Monetary Policy Dilemmas: Some RBI Perspectives
I value this opportunity of speaking at the Stern School to an academic community interested in central bank issues. Over the last decade, the profile of central banks has gone up. First, we had the Great Moderation - a period of extraordinary benign macroeconomic environment globally, characterized by steady growth in advanced economies and accelerated growth in emerging economies, and low and stable inflation all around. Central banks took credit for this, believed
Dr. D. Subbarao, Governor, Reserve Bank of India
I value this opportunity of speaking at the Stern School to an academic community interested in central bank issues. Over the last decade, the profile of central banks has gone up. First, we had the Great Moderation - a period of extraordinary benign macroeconomic environment globally, characterized by steady growth in advanced economies and accelerated growth in emerging economies, and low and stable inflation all around. Central banks took credit for this, believed
Sep 24, 2011
Intervention by Dr. D. Subbarao, Governor, Reserve Bank of India at IMF Meeting on September 23, 2011
The messages that we heard are sharp, specific and candid. If I were asked to pick the headline message of the presentation, it is that we are rapidly running out of time, and may therefore be running out of solutions. 2. The two big flashpoints are: renewed anxiety in the US about recession, and the deepening of the sovereign debt crisis in the Euro area. Each is by itself a big risk, but the bigger risk is that both could materialize simultaneously, and interact wit
Dr. D. Subbarao, Governor, Reserve Bank of India
The messages that we heard are sharp, specific and candid. If I were asked to pick the headline message of the presentation, it is that we are rapidly running out of time, and may therefore be running out of solutions. 2. The two big flashpoints are: renewed anxiety in the US about recession, and the deepening of the sovereign debt crisis in the Euro area. Each is by itself a big risk, but the bigger risk is that both could materialize simultaneously, and interact wit
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