Speeches - RBI - Reserve Bank of India
Speeches & Media Interactions
Monetary Policy Statement by Shri Shaktikanta Das, RBI Governor August 08, 2024
Speeches
Aug 27, 2020
It is Time for Banks to Look Deeply Within: Reorienting Banking Post-Covid
1. The COVID-19 pandemic still continues to keep the world on the edge. The pandemic has so far infected more than 2.3 crore people and has claimed more than 8 lakh lives worldwide. The world is struggling to find a vaccine and/or a cure to the deadly virus. In India also the spread of pandemic continues unabated, though the fatality rate is much lower. 2. As the pandemic ravages on, the economic impact is hard to measure. While there are green shoots and some busines
Shri Shaktikanta Das, Governor, Reserve Bank of India
1. The COVID-19 pandemic still continues to keep the world on the edge. The pandemic has so far infected more than 2.3 crore people and has claimed more than 8 lakh lives worldwide. The world is struggling to find a vaccine and/or a cure to the deadly virus. In India also the spread of pandemic continues unabated, though the fatality rate is much lower. 2. As the pandemic ravages on, the economic impact is hard to measure. While there are green shoots and some busines
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Jul 27, 2020
Are Dynamic Shifts Underway in the Indian Economy?
Thank you for having me in this interaction with members of the National Council of the Confederation of Indian Industry (CII). I am pleased to note that the CII has realigned its functioning and thought processes around a new theme for 2020-21 – Building India for New World: Lives, Livelihood, Growth – under the able and visionary leadership of Shri Uday Kotak, Shri T V Narendran, Shri Sanjiv Bajaj, Shri Chandrajit Banerjee and other eminent members. 2. Currently, CO
Shri Shaktikanta Das, Governor, Reserve Bank of India
Thank you for having me in this interaction with members of the National Council of the Confederation of Indian Industry (CII). I am pleased to note that the CII has realigned its functioning and thought processes around a new theme for 2020-21 – Building India for New World: Lives, Livelihood, Growth – under the able and visionary leadership of Shri Uday Kotak, Shri T V Narendran, Shri Sanjiv Bajaj, Shri Chandrajit Banerjee and other eminent members. 2. Currently, CO
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 06, 2020
Micro, Small and Medium Enterprises: Challenges and Way Forward
At the outset, I wish to thank ASSOCHAM for inviting me to their 15th Annual Banking Summit. More so because this is ASSOCHAM’s centenary year. It is a remarkable accomplishment and I extend warm greetings to all those associated with ASSOCHAM. Over the years, ASSOCHAM has transformed itself into a forceful, proactive, forward-looking organisation to meet the aspirations of Indian business. I am certain that ASSOCHAM’s journey towards excellence will continue. 2. In a
Shri Shaktikanta Das, Governor, Reserve Bank of India
At the outset, I wish to thank ASSOCHAM for inviting me to their 15th Annual Banking Summit. More so because this is ASSOCHAM’s centenary year. It is a remarkable accomplishment and I extend warm greetings to all those associated with ASSOCHAM. Over the years, ASSOCHAM has transformed itself into a forceful, proactive, forward-looking organisation to meet the aspirations of Indian business. I am certain that ASSOCHAM’s journey towards excellence will continue. 2. In a
Feb 24, 2020
Banking Landscape in the 21st Century
It is indeed a matter of great pleasure for me to be here today in the Annual Banking Conclave of the Mint. I am told that this is the 13th edition of Conclave in what has become a prestigious annual event attracting the best and brightest minds of the finance and banking industry. This Conclave provides an important platform to all stakeholders in India’s financial and banking sector for assessing where we stand today and preparing ourselves for where we want to reac
Shri Shaktikanta Das, Governor, Reserve Bank of India
It is indeed a matter of great pleasure for me to be here today in the Annual Banking Conclave of the Mint. I am told that this is the 13th edition of Conclave in what has become a prestigious annual event attracting the best and brightest minds of the finance and banking industry. This Conclave provides an important platform to all stakeholders in India’s financial and banking sector for assessing where we stand today and preparing ourselves for where we want to reac
Feb 12, 2020
Address by Hon’ble President of India at NIBM Golden Jubilee Celebrations
ADDRESS BY THE HON’BLE PRESIDENT OF INDIA SHRI RAM NATH KOVIND AT THE GOLDEN JUBILEE CELEBRATIONS OF THE NATIONAL INSTITUTE OF BANK MANAGEMENT Pune, February 12, 2020 Governor of Maharashtra, Shri Bhagat Singh Koshyari Governor, Reserve Bank of India, Shri Shaktikanta Das Director, National Institute of Bank Management, Doctor K. L. Dhingra Members of Governing Board, Students, Faculty and other Staff members Distinguished Guests Ladies and Gentlemen 1. It gives me im
SHRI RAM NATH KOVIND, THE HON’BLE PRESIDENT OF INDIA
ADDRESS BY THE HON’BLE PRESIDENT OF INDIA SHRI RAM NATH KOVIND AT THE GOLDEN JUBILEE CELEBRATIONS OF THE NATIONAL INSTITUTE OF BANK MANAGEMENT Pune, February 12, 2020 Governor of Maharashtra, Shri Bhagat Singh Koshyari Governor, Reserve Bank of India, Shri Shaktikanta Das Director, National Institute of Bank Management, Doctor K. L. Dhingra Members of Governing Board, Students, Faculty and other Staff members Distinguished Guests Ladies and Gentlemen 1. It gives me im
Jan 24, 2020
Seven Ages of India’s Monetary Policy
I am delighted to be back in my alma mater. Being here, brings back a surge of memories. Today, I wish to dwell upon a few aspects of central banking in the Indian context and RBI’s role in the current situation. I shall specifically focus on the evolution of monetary policy regimes in India and if I am to use the poetic license of Shakespeare, may I call it the seven ages of India’s monetary policy? 2. The history of central banking goes back to the seventeenth centu
Shri Shaktikanta Das, Governor, Reserve Bank of India
I am delighted to be back in my alma mater. Being here, brings back a surge of memories. Today, I wish to dwell upon a few aspects of central banking in the Indian context and RBI’s role in the current situation. I shall specifically focus on the evolution of monetary policy regimes in India and if I am to use the poetic license of Shakespeare, may I call it the seven ages of India’s monetary policy? 2. The history of central banking goes back to the seventeenth centu
Jan 07, 2020
Journey towards Inclusive Growth in India
On behalf of the Reserve Bank of India, I am delighted to welcome Mr. Tharman Shanmugaratnam to deliver the Professor Suresh Tendulkar Memorial Lecture, the third in the series. We are also deeply honoured to have Smt. Sunetra Tendulkar, the wife of late Professor Tendulkar and his daughter Smt. Saee Sapre with us. A hearty welcome to all the distinguished invitees of the Reserve Bank. About Prof. Suresh D. Tendulkar 2. Prof. Suresh D. Tendulkar was a great teacher, e
Shri Shaktikanta Das, Governor, Reserve Bank of India
On behalf of the Reserve Bank of India, I am delighted to welcome Mr. Tharman Shanmugaratnam to deliver the Professor Suresh Tendulkar Memorial Lecture, the third in the series. We are also deeply honoured to have Smt. Sunetra Tendulkar, the wife of late Professor Tendulkar and his daughter Smt. Saee Sapre with us. A hearty welcome to all the distinguished invitees of the Reserve Bank. About Prof. Suresh D. Tendulkar 2. Prof. Suresh D. Tendulkar was a great teacher, e
Jan 01, 2020
$ 5 Trillion Economy: Aspiration to Action
It is a privilege to be here this morning at the very prestigious India Economic Conclave organised by The Times Network. I assumed charge of the Reserve Bank last year on December 12, and this event was held around that time. Having witnessed many of the proceedings of the event last year on television, I looked forward to participating in this year’s conclave. I must also compliment Shri Anand of Times Network and Shri Vaidyanathan of IDFC First Bank for introducing
Shri Shaktikanta Das, Governor, Reserve Bank of India
It is a privilege to be here this morning at the very prestigious India Economic Conclave organised by The Times Network. I assumed charge of the Reserve Bank last year on December 12, and this event was held around that time. Having witnessed many of the proceedings of the event last year on television, I looked forward to participating in this year’s conclave. I must also compliment Shri Anand of Times Network and Shri Vaidyanathan of IDFC First Bank for introducing
Nov 29, 2019
Rural and Agriculture Finance: Critical Input to Achieve Inclusive and Sustainable Development
1. Mr Senarath Bandara, Chairman, APRACA (Asia Pacific Rural and Agricultural Credit Association), Dr Harsh Kumar Bhanwala, Chairman National Bank for Agriculture and Rural Development (NABARD) and Vice-Chairman, APRACA, Dr Prasun Kumar Das, Secretary General, APRACA, all other dignitaries present here, ladies and gentlemen, good afternoon! 2. At the outset, I would like to thank APRACA and NABARD for inviting me to give the valedictory address to the participants vis
Shri M. K. Jain, Deputy Governor, Reserve Bank of India
1. Mr Senarath Bandara, Chairman, APRACA (Asia Pacific Rural and Agricultural Credit Association), Dr Harsh Kumar Bhanwala, Chairman National Bank for Agriculture and Rural Development (NABARD) and Vice-Chairman, APRACA, Dr Prasun Kumar Das, Secretary General, APRACA, all other dignitaries present here, ladies and gentlemen, good afternoon! 2. At the outset, I would like to thank APRACA and NABARD for inviting me to give the valedictory address to the participants vis
Nov 28, 2019
Microfinance as the next wave of Financial Inclusion
Shri Mohammad Mustafa, Chairman & MD, SIDBI, Dr. Charan Singh, CEO and Director, Foundation for Economic Growth and Welfare, Mr. Gavin McGillivray Head, DFID India, other dignitaries, participants, Ladies and Gentlemen. Good Morning to all! I am very happy that senior bankers, sector specialists, academicians and practitioners are coming together on a single platform to deliberate on the Vision of Microfinance in India at this National Microfinance Congress and th
Shri M. K. Jain, Deputy Governor, Reserve Bank of India
Shri Mohammad Mustafa, Chairman & MD, SIDBI, Dr. Charan Singh, CEO and Director, Foundation for Economic Growth and Welfare, Mr. Gavin McGillivray Head, DFID India, other dignitaries, participants, Ladies and Gentlemen. Good Morning to all! I am very happy that senior bankers, sector specialists, academicians and practitioners are coming together on a single platform to deliberate on the Vision of Microfinance in India at this National Microfinance Congress and th
Nov 16, 2019
Indian Banking at Crossroads: Some Reflections
I am very happy to be amongst you today to address the first Annual Economics Conference being organised by the Amrut Mody School of Management, Ahmedabad University. The theme of the conference – “50 years of Bank Nationalisation: Indian Banking at Crossroads” - provides the perfect backdrop for a discussion on the evolution of Public Sector Banks(PSBs), their journey over the last 50 years and a vision for their future. The banking system has played a critical role
Shri Shaktikanta Das, Governor, Reserve Bank of India
I am very happy to be amongst you today to address the first Annual Economics Conference being organised by the Amrut Mody School of Management, Ahmedabad University. The theme of the conference – “50 years of Bank Nationalisation: Indian Banking at Crossroads” - provides the perfect backdrop for a discussion on the evolution of Public Sector Banks(PSBs), their journey over the last 50 years and a vision for their future. The banking system has played a critical role
Sep 23, 2019
Regulatory and Supervisory Expectations on Compliance Function in Banks
Shri Sunil Mehta, Chairman – IBA, Chairmen and Chief Executive Officers of banks, other dignitaries and participants, Good Evening to all. This conference brings in the best minds from the Indian banking fraternity, the technology, knowledge and other service providers together to deliberate the latest developments and future agenda for banks in India. It is indeed a great pleasure to be amongst you here today. The banking landscape of India is changing rapidly. With
Shri M. K. Jain, Deputy Governor, Reserve Bank of India
Shri Sunil Mehta, Chairman – IBA, Chairmen and Chief Executive Officers of banks, other dignitaries and participants, Good Evening to all. This conference brings in the best minds from the Indian banking fraternity, the technology, knowledge and other service providers together to deliberate the latest developments and future agenda for banks in India. It is indeed a great pleasure to be amongst you here today. The banking landscape of India is changing rapidly. With
Sep 19, 2019
Dimensions of India’s External Sector Resilience
The international environment is clouded with very challenging conditions. Global growth is slowing down and central banks across the world are bracing up to counter it by easing monetary policy; but there is no recession as yet. Trade wars have pushed world trade into contraction and threaten to morph into tech and currency wars, with no evidence of any significant gains accruing to anyone. Meanwhile, global commodity prices have weakened, with collateral benefits to
Shri Shaktikanta Das, Governor, Reserve Bank of India
The international environment is clouded with very challenging conditions. Global growth is slowing down and central banks across the world are bracing up to counter it by easing monetary policy; but there is no recession as yet. Trade wars have pushed world trade into contraction and threaten to morph into tech and currency wars, with no evidence of any significant gains accruing to anyone. Meanwhile, global commodity prices have weakened, with collateral benefits to
Sep 05, 2019
20th FIMMDA - PDAI Annual Conference
1. I am happy to be here today amidst you and I must thank FIMMDA and PDAI for this privilege. The annual conference of FIMMDA and PDAI has of late been known as much for the content of the deliberations as for the choice of the venues, and the present one, its twentieth edition, is no exception. These occasions bring together the best minds in the financial market, particularly the fixed income segment, under one roof and provides excellent platform for deliberating
Shri B. P. Kanungo, Deputy Governor, Reserve Bank of India
1. I am happy to be here today amidst you and I must thank FIMMDA and PDAI for this privilege. The annual conference of FIMMDA and PDAI has of late been known as much for the content of the deliberations as for the choice of the venues, and the present one, its twentieth edition, is no exception. These occasions bring together the best minds in the financial market, particularly the fixed income segment, under one roof and provides excellent platform for deliberating
Aug 26, 2019
Trade War: Is it a prelude to deglobalisation?
1. I am delighted to be here today and am grateful to the FAI and the organisers of this conference for inviting me to speak to this gathering. I am also happy to be in Singapore, a country which truly epitomises all that can be called achievements of globalisation, and a country with which India had and continues to have multifaceted engagement covering cultural, ethnic and economic spheres. FAI, a body of forex market professionals who intermediate between the suppl
Shri B. P. Kanungo, Deputy Governor, Reserve Bank of India
1. I am delighted to be here today and am grateful to the FAI and the organisers of this conference for inviting me to speak to this gathering. I am also happy to be in Singapore, a country which truly epitomises all that can be called achievements of globalisation, and a country with which India had and continues to have multifaceted engagement covering cultural, ethnic and economic spheres. FAI, a body of forex market professionals who intermediate between the suppl
Aug 19, 2019
Emerging Challenges to Financial Stability
It is indeed a matter of great pleasure for me to be here today amidst the business and financial sector leaders. My compliments go to the partners, namely, the Indian Banks’ Association, FICCI and the Boston Consulting Group for spearheading this event. What really gives me the additional motivation to address you is the earnestness with which you have themed this year’s conference, showing your appreciation of the need to prepare ourselves for a new paradigm in bank
Shri Shaktikanta Das, Governor, Reserve Bank of India
It is indeed a matter of great pleasure for me to be here today amidst the business and financial sector leaders. My compliments go to the partners, namely, the Indian Banks’ Association, FICCI and the Boston Consulting Group for spearheading this event. What really gives me the additional motivation to address you is the earnestness with which you have themed this year’s conference, showing your appreciation of the need to prepare ourselves for a new paradigm in bank
Aug 05, 2019
Consumer Protection in a digital financial world – Initiatives and beyond
Deputy Governor Shri Kanungo, Executive Director, Mrs. Marandi, other Executive Directors of the Reserve Bank of India, Managing Directors/ Chief Executive Officers from banks, overseas guests, colleagues from the Reserve Bank of India and other institutions. I am happy to be here for delivering this address at this annual event of the Consumer Education and Protection Department (CEPD), Central Office (CO) on a historic moment as we enter the silver jubilee year of t
Shri M. K. Jain, Deputy Governor, Reserve Bank of India
Deputy Governor Shri Kanungo, Executive Director, Mrs. Marandi, other Executive Directors of the Reserve Bank of India, Managing Directors/ Chief Executive Officers from banks, overseas guests, colleagues from the Reserve Bank of India and other institutions. I am happy to be here for delivering this address at this annual event of the Consumer Education and Protection Department (CEPD), Central Office (CO) on a historic moment as we enter the silver jubilee year of t
Jul 26, 2019
Governor’s Remarks at the Book Release of Shri V. Srinivas
I am delighted to be part of this event for the launch of Shri V. Srinivas’s book on “India’s Relations with the International Monetary Fund”. A respected civil servant of the 1989 batch, he has drawn extensively on his hands-on stint as Advisor to the Executive Director for India at the IMF during 2003-06, combining it with his scholarship and experience in policy making. The book and the function today will promote readership on an important subject and spur more th
Shri Shaktikanta Das, Governor, Reserve Bank of India
I am delighted to be part of this event for the launch of Shri V. Srinivas’s book on “India’s Relations with the International Monetary Fund”. A respected civil servant of the 1989 batch, he has drawn extensively on his hands-on stint as Advisor to the Executive Director for India at the IMF during 2003-06, combining it with his scholarship and experience in policy making. The book and the function today will promote readership on an important subject and spur more th
Jun 29, 2019
Development of Viable Capital Markets – The Indian Experience
1. Introduction 1.1 Capital markets play a crucial role in the economic development of a country. They provide financial resources required for the long-term sustainable development of the economy. Development of viable capital markets is therefore considered an important element in the macro-financial policy toolkit, including for objectives such as financial stability and the transmission of monetary policy. 1.2 The Committee on Global Financial System (CGFS), which
Dr. Viral V. Acharya, Deputy Governor, Reserve Bank of India
1. Introduction 1.1 Capital markets play a crucial role in the economic development of a country. They provide financial resources required for the long-term sustainable development of the economy. Development of viable capital markets is therefore considered an important element in the macro-financial policy toolkit, including for objectives such as financial stability and the transmission of monetary policy. 1.2 The Committee on Global Financial System (CGFS), which
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