Speeches - RBI - Reserve Bank of India
Speeches & Media Interactions
Monetary Policy Statement by Shri Shaktikanta Das, RBI Governor October 09, 2024
Speeches
Sep 27, 2006
Changing Paradigms in Risk Management
The world of finance has always had an intuitive understanding of risk. The risks that emerge from the increased variety and complexities of banking business, as well as from the various new drivers of growth has pushed the contours of risk management in banks much beyond what would probably have existed in the more traditional forms of banking activity of accepting deposits and lending in relatively stable environments. Internationally, the last two decades or so hav
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
The world of finance has always had an intuitive understanding of risk. The risks that emerge from the increased variety and complexities of banking business, as well as from the various new drivers of growth has pushed the contours of risk management in banks much beyond what would probably have existed in the more traditional forms of banking activity of accepting deposits and lending in relatively stable environments. Internationally, the last two decades or so hav
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Sep 26, 2006
Demystifying Basel II*
Friends, it gives me great pleasure to share my thoughts on some of the elements of Basel II implementation in India with this august gathering. I firmly believe that periodical sharing of thoughts and views by us on issues of topical relevance with bankers - both domestic and foreign; eminent bank regulators and supervisors from abroad; and above all - the users of the banking system, is fundamental for promoting greater transparency and understanding of the intent a
Shri V. Leeladhar, Deputy Governor, Reserve Bank of India
Friends, it gives me great pleasure to share my thoughts on some of the elements of Basel II implementation in India with this august gathering. I firmly believe that periodical sharing of thoughts and views by us on issues of topical relevance with bankers - both domestic and foreign; eminent bank regulators and supervisors from abroad; and above all - the users of the banking system, is fundamental for promoting greater transparency and understanding of the intent a
Sep 21, 2006
IT for Business Excellence
Ladies and Gentlemen, It gives me great pleasure to be present here to share a few thoughts on one of the important drivers of banking business in the world. Information Technology or IT has made substantial inroads into the financial sector, it has in fact transformed the way banking operations are conducted. The benefits brought about by IT in handling large processing volumes, in providing for quick, safe transaction processing, economies of scale and in expanding
Shri V. Leeladhar, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen, It gives me great pleasure to be present here to share a few thoughts on one of the important drivers of banking business in the world. Information Technology or IT has made substantial inroads into the financial sector, it has in fact transformed the way banking operations are conducted. The benefits brought about by IT in handling large processing volumes, in providing for quick, safe transaction processing, economies of scale and in expanding
Sep 21, 2006
The Role of Financial Education: The Indian Case
Distinguished Ladies and Gentlemen, I am thankful to Shri Swarup for inviting me to this august gathering. The Conference represents an important step by the Pension Fund Regulatory and Development Authority (PFRDA) to distil from the experiences of other countries in its quest for enhancing the levels of financial education in our country. The collaboration with Organisation for Economic Co-operation and Development (OECD) which has been playing a pivotal role in thi
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Distinguished Ladies and Gentlemen, I am thankful to Shri Swarup for inviting me to this august gathering. The Conference represents an important step by the Pension Fund Regulatory and Development Authority (PFRDA) to distil from the experiences of other countries in its quest for enhancing the levels of financial education in our country. The collaboration with Organisation for Economic Co-operation and Development (OECD) which has been playing a pivotal role in thi
Sep 19, 2006
Foreign Exchange Reserves: New Realities and Options
Distinguished Friends, I am thankful to the organisers for inviting me to participate in the 2006 Program of Seminars on the Theme 'The World in Asia, Asia in the World'. The theme for this session has tantalising words: problems, plenty, challenges, opportunities, accumulation, large, foreign, windfall and reserves. It may be a little hard to match the sense of these words in an address by central bankers. So, I intend taking a slightly broader view of the subject an
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Distinguished Friends, I am thankful to the organisers for inviting me to participate in the 2006 Program of Seminars on the Theme 'The World in Asia, Asia in the World'. The theme for this session has tantalising words: problems, plenty, challenges, opportunities, accumulation, large, foreign, windfall and reserves. It may be a little hard to match the sense of these words in an address by central bankers. So, I intend taking a slightly broader view of the subject an
Sep 18, 2006
Asian Perspective on Growth: Outlook for India
Distinguished friends, I am delighted to be here at the G30's International Banking Seminar hosted by the Monetary Authority of Singapore. Indeed, it is an honour and privilege to be amidst the global Gurus of financial world. I divide my humble presentation into five parts: namely the contours of Indian economy; the major challenges facing the Indian economy; the impact of global imbalances on India; some not easily quantifiable strengths of India and; India's growin
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Distinguished friends, I am delighted to be here at the G30's International Banking Seminar hosted by the Monetary Authority of Singapore. Indeed, it is an honour and privilege to be amidst the global Gurus of financial world. I divide my humble presentation into five parts: namely the contours of Indian economy; the major challenges facing the Indian economy; the impact of global imbalances on India; some not easily quantifiable strengths of India and; India's growin
Sep 07, 2006
Credit Counselling : An Indian Perspective
Mr. Chairman, distinguished guests and friends, I am thankful to Mr. Balachandran for providing this opportunity to be with this eminent gathering assembled for a noble cause. Bank of India has been among the banks known to be a pioneer in several areas of commercial banking. In this context, the initiative by the bank to establish credit counselling centers on a pilot basis highlights the pro-active role being played by our banks. In fact, a major reason for my agree
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Mr. Chairman, distinguished guests and friends, I am thankful to Mr. Balachandran for providing this opportunity to be with this eminent gathering assembled for a noble cause. Bank of India has been among the banks known to be a pioneer in several areas of commercial banking. In this context, the initiative by the bank to establish credit counselling centers on a pilot basis highlights the pro-active role being played by our banks. In fact, a major reason for my agree
Sep 05, 2006
Use of technology in the financial sector: Significance of concerted efforts*
Shri Arvind Sharma, Director, IDRBT, members of the Governing Council of the IDRBT, fellow bankers and distinguished guests, It gives me immense pleasure to be here with friends from the banking fraternity. In fact, being here is part of my annual pilgrimage to the Institute for Development and Research in Banking Technology (IDRBT). At the outset, I would like to compliment the Governing Council, faculty and staff of the IDRBT for continuing with their mission with d
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Shri Arvind Sharma, Director, IDRBT, members of the Governing Council of the IDRBT, fellow bankers and distinguished guests, It gives me immense pleasure to be here with friends from the banking fraternity. In fact, being here is part of my annual pilgrimage to the Institute for Development and Research in Banking Technology (IDRBT). At the outset, I would like to compliment the Governing Council, faculty and staff of the IDRBT for continuing with their mission with d
Aug 24, 2006
New Economic Geography and Monetary Policy in a Flattening World*
Let me first thank Tom Hoenig and his colleagues for inviting me again to this symposium. It is always a treat to be here in more ways than one: to partake of the rich feast of insightful and interesting papers, illuminating commentaries and discussions, accompanied by the warm hospitality of the Kansas City Fed in this incomparable setting in the shadow of the majestic Tetons. It is difficult to provide an overview of this rather disparate set of sessions reflecting
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Let me first thank Tom Hoenig and his colleagues for inviting me again to this symposium. It is always a treat to be here in more ways than one: to partake of the rich feast of insightful and interesting papers, illuminating commentaries and discussions, accompanied by the warm hospitality of the Kansas City Fed in this incomparable setting in the shadow of the majestic Tetons. It is difficult to provide an overview of this rather disparate set of sessions reflecting
Jul 24, 2006
Avian Influenza Pandemic: Preparedness within the Financial Sector*
I would like to welcome all of you to India for the IMF Seminar on "Preparedness within the Financial Sector for an Avian Influenza Pandemic", which has been a source of concern not only for health experts but also for policy makers in Governments and Central Banks alike. It is important to undertake activities that are preventive in nature, so that the probability of an undesirable event is minimised. The Fund’s efforts to bring countries that are vulnerable to the p
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I would like to welcome all of you to India for the IMF Seminar on "Preparedness within the Financial Sector for an Avian Influenza Pandemic", which has been a source of concern not only for health experts but also for policy makers in Governments and Central Banks alike. It is important to undertake activities that are preventive in nature, so that the probability of an undesirable event is minimised. The Fund’s efforts to bring countries that are vulnerable to the p
Jul 01, 2006
Banks and Service to the Common Person
Chairperson of the Board Smt. Udeshi, Chairman of the IBA Shri Shetty, Deputy Governor Smt. Usha Thorat, distinguished bankers and friends, It gives me immense pleasure and satisfaction to be here to release the 'Code of Bank’s Commitment to Customers'. The Code signifies the first formal collaborative effort by the Reserve Bank of India, the banks and the newly set up Banking Codes and Standards Board of India (BCSBI) to provide a framework for a minimum standard of
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Chairperson of the Board Smt. Udeshi, Chairman of the IBA Shri Shetty, Deputy Governor Smt. Usha Thorat, distinguished bankers and friends, It gives me immense pleasure and satisfaction to be here to release the 'Code of Bank’s Commitment to Customers'. The Code signifies the first formal collaborative effort by the Reserve Bank of India, the banks and the newly set up Banking Codes and Standards Board of India (BCSBI) to provide a framework for a minimum standard of
Jun 30, 2006
Comments of Dr. Y.V.Reddy, Governor, RBI as a panelist at the Annual General Meeting of the BIS
Financial Sector Competition and Monetary Policy : Comments* Mr. Chairman, Professor Mario Monti, Co-panellists and fellow Governors, I am honoured by the invitation to participate in the Annual General Meeting Panel in this historic and beautiful location. When I got the enquiry on my willingness to be a panelist on "The Relevance of Competition and Monetary Policy for Financial Stability" for the Per Jacobsson Foundation lecture this year, I initially felt that the
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Financial Sector Competition and Monetary Policy : Comments* Mr. Chairman, Professor Mario Monti, Co-panellists and fellow Governors, I am honoured by the invitation to participate in the Annual General Meeting Panel in this historic and beautiful location. When I got the enquiry on my willingness to be a panelist on "The Relevance of Competition and Monetary Policy for Financial Stability" for the Per Jacobsson Foundation lecture this year, I initially felt that the
Jun 28, 2006
Comments of Dr.Y.V.Reddy, Governor, RBI
On the Sources of Central Banker’s Influence over the Economy: Comments Chairman Mario Bleijer, Professor Stephen G. Cecchetti, Professor William H. Buiter, Dr Guillermo A. Calvo and fellow Governors, It is my pleasure to join the symposium and as desired by you, Mr. Chairman, offer initial informal comments on Professor Cecchetti’s paper on ‘Sources of Central Banker’s Influence over the Economy’. Professor Cecchetti first succinctly brings out the convergence of dev
Dr. Y. V. Reddy, Governor, Reserve Bank of India
On the Sources of Central Banker’s Influence over the Economy: Comments Chairman Mario Bleijer, Professor Stephen G. Cecchetti, Professor William H. Buiter, Dr Guillermo A. Calvo and fellow Governors, It is my pleasure to join the symposium and as desired by you, Mr. Chairman, offer initial informal comments on Professor Cecchetti’s paper on ‘Sources of Central Banker’s Influence over the Economy’. Professor Cecchetti first succinctly brings out the convergence of dev
Jun 06, 2006
Asia's Urban Century: Emerging Trends
I. Urbanisation: A Recent Phenomenon Widespread all pervading urbanisation is a truly twentieth century phenomenon. Although cities have always existed, even cities such as Memphis, Babylon, Thebes, Athens, Sparta, Mohen-ja-daro and Anuradhapura existed in antiquity, there is little evidence of widespread urbanisation in the early years of civilization. Rome was perhaps the first settlement to reach 1 million people in BC; only in 1800 did London become the second cit
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I. Urbanisation: A Recent Phenomenon Widespread all pervading urbanisation is a truly twentieth century phenomenon. Although cities have always existed, even cities such as Memphis, Babylon, Thebes, Athens, Sparta, Mohen-ja-daro and Anuradhapura existed in antiquity, there is little evidence of widespread urbanisation in the early years of civilization. Rome was perhaps the first settlement to reach 1 million people in BC; only in 1800 did London become the second cit
Jun 03, 2006
Financial Sector Reforms and Monetary Policy: The Indian Experience
I. Introduction Since the initiation of reforms in the early 1990s, the Indian economy has achieved high growth in an environment of macroeconomic and financial stability. The period has been marked by broad based economic reform that has touched every segment of the economy. These reforms were designed essentially to promote greater efficiency in the economy through promotion of greater competition. The story of Indian reforms is by now well-documented (e.g., Ahluwal
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I. Introduction Since the initiation of reforms in the early 1990s, the Indian economy has achieved high growth in an environment of macroeconomic and financial stability. The period has been marked by broad based economic reform that has touched every segment of the economy. These reforms were designed essentially to promote greater efficiency in the economy through promotion of greater competition. The story of Indian reforms is by now well-documented (e.g., Ahluwal
May 30, 2006
Treating Bank Customers Fairly- Regulatory Initiatives *
It gives me great pleasure to participate in this Congress organised by the Financial Planning Standards Board India. Today, there is much more awareness of the need to protect consumers' rights and ensure fair practices in financial services. Countries are designating specific regulators or self regulatory watch dogs for overseeing whether there is mis-selling and whether fair and transparent practices are being observed by financial intermediaries. While specific gr
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
It gives me great pleasure to participate in this Congress organised by the Financial Planning Standards Board India. Today, there is much more awareness of the need to protect consumers' rights and ensure fair practices in financial services. Countries are designating specific regulators or self regulatory watch dogs for overseeing whether there is mis-selling and whether fair and transparent practices are being observed by financial intermediaries. While specific gr
May 25, 2006
Governor, Dr. Y. V Reddy's Discussion at Council on Foreign Relations
This is a rush transcript - hosted on RBI website with the concurrence of the Council on Foreign Relations. The transcript as well as the audio and video of the discussion are also available at http://www.cfr.org/publication/10763/reflections_on_indias_economic_development_rush_transcript_federal_news_service_inc.html Speaker: Y.V. Reddy Governor, Reserve Bank of India Presider: Frank G. Wisner Vice Chairman, External Affairs, American International Group, Inc. May 12
Dr. Y. V. Reddy, Governor, Reserve Bank of India
This is a rush transcript - hosted on RBI website with the concurrence of the Council on Foreign Relations. The transcript as well as the audio and video of the discussion are also available at http://www.cfr.org/publication/10763/reflections_on_indias_economic_development_rush_transcript_federal_news_service_inc.html Speaker: Y.V. Reddy Governor, Reserve Bank of India Presider: Frank G. Wisner Vice Chairman, External Affairs, American International Group, Inc. May 12
May 25, 2006
India in Emerging Asia
Friends I am honoured to be invited at the 12th International Conference on "The Future of Asia" organised by Nihon Keizai Shimbun, Inc. (NIKKEI). The choice of the topic for the Session by the organisers "India-The Rise of a New Economic Powerhouse" is indicative of the global confidence in India's economic performance and prospects for the future. However, as a central banker, I need to be conservative and modest in my approach to communication while retaining trans
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Friends I am honoured to be invited at the 12th International Conference on "The Future of Asia" organised by Nihon Keizai Shimbun, Inc. (NIKKEI). The choice of the topic for the Session by the organisers "India-The Rise of a New Economic Powerhouse" is indicative of the global confidence in India's economic performance and prospects for the future. However, as a central banker, I need to be conservative and modest in my approach to communication while retaining trans
May 25, 2006
Monetary Policy and Exchange Rate Frameworks: The Indian Experience
I would like to congratulate the International Monetary Fund and Monetary Authority of Singapore for holding this Second High Level Seminar on Asian Financial Integration. This forum provides a good opportunity for all of us to exchange notes, ideas and views on the continuously evolving texture of the international financial architecture, particular as it affects Asia and as Asian financial growth itself impacts the rest of the world. The international financial land
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I would like to congratulate the International Monetary Fund and Monetary Authority of Singapore for holding this Second High Level Seminar on Asian Financial Integration. This forum provides a good opportunity for all of us to exchange notes, ideas and views on the continuously evolving texture of the international financial architecture, particular as it affects Asia and as Asian financial growth itself impacts the rest of the world. The international financial land
May 17, 2006
Evolution of Central Banking in India
I must congratulate the organizers for choosing this important topic for deliberation in this seminar. I have great pleasure in mentioning that the theme of the Report on Currency and Finance - 2004-05, prepared by the staff of the Reserve Bank of India (RBI), is also that of evolution of Central Banking in India (RBI, 2005a). In going through the process of compilation of the Report, I have found the evolutionary process of central banking all over the world and also
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I must congratulate the organizers for choosing this important topic for deliberation in this seminar. I have great pleasure in mentioning that the theme of the Report on Currency and Finance - 2004-05, prepared by the staff of the Reserve Bank of India (RBI), is also that of evolution of Central Banking in India (RBI, 2005a). In going through the process of compilation of the Report, I have found the evolutionary process of central banking all over the world and also
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