Speeches - RBI - Reserve Bank of India
Speeches & Media Interactions
Monetary Policy Statement by Shri Shaktikanta Das, RBI Governor August 08, 2024
Speeches
Jun 06, 2011
Non-financial Reporting – What, Why and How - Indian Perspective
Mr Stefan Helming, Country Director, GIZ India, Mr Rakesh Rewari, DMD, SIDBI, Prof Rajeev Gowda, Chair, Centre for Public Policy, IIM-Bangalore, Ms Karin Ireton, Director, Group Sustainability Management, Standard Bank, Dr Aditi Haldar, Director, GRI, India, Ms Richa Bajpai- co founder NextGen, distinguished guests, ladies and gentlemen. It is a pleasure to be here at this National Conference on “Non-Financial Reporting and Risk Management for Financial Institutions i
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mr Stefan Helming, Country Director, GIZ India, Mr Rakesh Rewari, DMD, SIDBI, Prof Rajeev Gowda, Chair, Centre for Public Policy, IIM-Bangalore, Ms Karin Ireton, Director, Group Sustainability Management, Standard Bank, Dr Aditi Haldar, Director, GRI, India, Ms Richa Bajpai- co founder NextGen, distinguished guests, ladies and gentlemen. It is a pleasure to be here at this National Conference on “Non-Financial Reporting and Risk Management for Financial Institutions i
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Jun 02, 2011
A presentation on ‘Financial Inclusion - Achievements So Far and Road Ahead’ by Dr K.C. Chakrabarty, Deputy Governor, Reserve Bank of India at the 26th SKOCH Summit, Mumbai on June 02, 2011
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Jun 01, 2011
Talent Acquisition and Management
Shri M. Balachandran, Director, IBPS, Shri K. Ramakrishnan, CEO, IBA, members of Governing Board of the IBPS, faculty members of IBPS, my old friends and colleagues, Mr. Saurabh Tripathi of BCG who made an excellent presentation, distinguished guests, ladies and gentlemen. It is a pleasure and privilege to be here at the Seminar on Talent Acquisition and Management organized by the IBPS. The Seminar has very interesting objectives in that it attempts to review and evo
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri M. Balachandran, Director, IBPS, Shri K. Ramakrishnan, CEO, IBA, members of Governing Board of the IBPS, faculty members of IBPS, my old friends and colleagues, Mr. Saurabh Tripathi of BCG who made an excellent presentation, distinguished guests, ladies and gentlemen. It is a pleasure and privilege to be here at the Seminar on Talent Acquisition and Management organized by the IBPS. The Seminar has very interesting objectives in that it attempts to review and evo
May 31, 2011
Banking on Technology
I would like to thank IDRBT for inviting me to address you on the above topic. I must appreciate IDRBT for choosing this topic for the Seminar and inviting Directors of Indian banks, as all the issues chosen for the Seminar are very relevant today for banking. 2. At the outset, I would like to quote Bill Gates who has very rightly summarized the significance of technology in today’s world and I quote “The first rule of any technology used in a business is that automat
Shri Anand Sinha, Deputy Governor, Reserve Bank of India
I would like to thank IDRBT for inviting me to address you on the above topic. I must appreciate IDRBT for choosing this topic for the Seminar and inviting Directors of Indian banks, as all the issues chosen for the Seminar are very relevant today for banking. 2. At the outset, I would like to quote Bill Gates who has very rightly summarized the significance of technology in today’s world and I quote “The first rule of any technology used in a business is that automat
May 10, 2011
Policy Discipline and Spillovers in an Inter-connected Global Economy
The interconnected world is not new. We have been living in it for some time. For half a century, exports, international capital flows, and foreign direct investment have been growing much faster than GDP, binding economies ever more tightly together. In many ways, this process has been a tremendous force for good. My own country, India, is testament to that. Integration with the world contributed to growth, lifting hundreds of millions of people out of poverty. But i
Dr. D. Subbarao, Governor, Reserve Bank of India
The interconnected world is not new. We have been living in it for some time. For half a century, exports, international capital flows, and foreign direct investment have been growing much faster than GDP, binding economies ever more tightly together. In many ways, this process has been a tremendous force for good. My own country, India, is testament to that. Integration with the world contributed to growth, lifting hundreds of millions of people out of poverty. But i
May 09, 2011
Regulatory Perspectives on Derivatives Markets in India
Introduction It is a pleasure for me to be speaking at this conference organized by the International Options Market Association. The presence and role of derivatives in India, both OTC and Exchange traded, has been increasing steadily over the years. These instruments are an important component of the overall financial sector strategy and the broad regulatory objective is to ensure that they are used to their potential in ways that are consistent with both financial
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction It is a pleasure for me to be speaking at this conference organized by the International Options Market Association. The presence and role of derivatives in India, both OTC and Exchange traded, has been increasing steadily over the years. These instruments are an important component of the overall financial sector strategy and the broad regulatory objective is to ensure that they are used to their potential in ways that are consistent with both financial
May 09, 2011
Central Bank Governance Issues : Some RBI Perspectives
Thank you for this opportunity to speak on some central bank governance issues from the perspective of the Reserve Bank of India (RBI). I will raise some specific issues. But before getting into them, I want to make two broad comments about the mandate of the Reserve Bank and our systems of autonomy and accountability. That will give you the broad context for appreciating the specific issues that I will raise later. RBI’s Mandate 2. RBI has a mandate that is wider tha
Dr. D. Subbarao, Governor, Reserve Bank of India
Thank you for this opportunity to speak on some central bank governance issues from the perspective of the Reserve Bank of India (RBI). I will raise some specific issues. But before getting into them, I want to make two broad comments about the mandate of the Reserve Bank and our systems of autonomy and accountability. That will give you the broad context for appreciating the specific issues that I will raise later. RBI’s Mandate 2. RBI has a mandate that is wider tha
Apr 17, 2011
Global Challenges, Global Solutions: Some Remarks
Mr. Chairman 1. Recent experience suggests that globalization offers incredible opportunities but also poses immense challenges. If the years before the global financial crisis - the period of the so called ‘Great Moderation’ - demonstrated the benefits of globalization, the devastating toll of the crisis showed its costs. Just as in the case of an economy, there are price setters and price takers, in the international economy too, there are economies which shape the
Dr. D. Subbarao, Governor, Reserve Bank of India
Mr. Chairman 1. Recent experience suggests that globalization offers incredible opportunities but also poses immense challenges. If the years before the global financial crisis - the period of the so called ‘Great Moderation’ - demonstrated the benefits of globalization, the devastating toll of the crisis showed its costs. Just as in the case of an economy, there are price setters and price takers, in the international economy too, there are economies which shape the
Apr 17, 2011
Statement by Mr. Duvvuri Subbarao, Governor, Reserve Bank of India at IMFC, Washington
Leader of the Indian Delegation to the International Monetary and Financial Committee Washington D.C., April 16, 2011 Mr. Chairman, 1. There have been significant developments in the global economy since we met in the fall of 2010. The IMF too has moved on several fronts under its mandate which has strengthened its position in a changing world. There are several key questions confronting us today: Is the recovery assured in the face of still turbulent financial condit
Dr. D. Subbarao, Governor, Reserve Bank of India
Leader of the Indian Delegation to the International Monetary and Financial Committee Washington D.C., April 16, 2011 Mr. Chairman, 1. There have been significant developments in the global economy since we met in the fall of 2010. The IMF too has moved on several fronts under its mandate which has strengthened its position in a changing world. There are several key questions confronting us today: Is the recovery assured in the face of still turbulent financial condit
Apr 16, 2011
The Global Economy and Framework
Chairperson, Finance Ministers and colleague Governors, 1. After its very successful efforts at a coordinated response to the challenges emerging out of the recent unprecedented global financial crisis and safeguarding the process of economic recovery, the G-20 is now turning to the more challenging task of addressing structural imbalances in the global economy. India has had the privilege of co-chairing, together with Canada, the G-20 collective effort towards drawin
Dr. D. Subbarao, Governor, Reserve Bank of India
Chairperson, Finance Ministers and colleague Governors, 1. After its very successful efforts at a coordinated response to the challenges emerging out of the recent unprecedented global financial crisis and safeguarding the process of economic recovery, the G-20 is now turning to the more challenging task of addressing structural imbalances in the global economy. India has had the privilege of co-chairing, together with Canada, the G-20 collective effort towards drawin
Apr 05, 2011
Linking Entrepreneurship with Credit- The Role of Financial System
Shri R.M. Malla, President-EDI, Members of the Governing Council, Director Dr.Dinesh Awasthi, invited dignitaries, faculty members, passing out students and their parents, members of the print and electronic media, ladies and gentlemen. It is, indeed, a pleasure to be here amongst graduating students and I am thankful to Shri Malla and the EDI for this opportunity especially when it is an opportunity to return to my home state, Gujarat. A galaxy of speakers have addre
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri R.M. Malla, President-EDI, Members of the Governing Council, Director Dr.Dinesh Awasthi, invited dignitaries, faculty members, passing out students and their parents, members of the print and electronic media, ladies and gentlemen. It is, indeed, a pleasure to be here amongst graduating students and I am thankful to Shri Malla and the EDI for this opportunity especially when it is an opportunity to return to my home state, Gujarat. A galaxy of speakers have addre
Apr 05, 2011
Sustainability of Economic Growth and Controlling Inflation: The Way Forward
It is my pleasure to speak at FICCI’s National Executive Committee Meeting this year. As many observers have been highlighting, after a relatively long phase of benign, growth-friendly macroeconomic conditions, things have begun to look somewhat hostile on the macroeconomic front. The most significant manifestation of this is the acceleration of inflation, a trend that was visible even before the impact of the financial crisis was felt in late 2008, but which very qui
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
It is my pleasure to speak at FICCI’s National Executive Committee Meeting this year. As many observers have been highlighting, after a relatively long phase of benign, growth-friendly macroeconomic conditions, things have begun to look somewhat hostile on the macroeconomic front. The most significant manifestation of this is the acceleration of inflation, a trend that was visible even before the impact of the financial crisis was felt in late 2008, but which very qui
Apr 01, 2011
Lessons for Monetary Policy from the Global Financial Crisis : An Emerging Market Perspective
The global financial crisis has challenged the conventional views on the role of monetary policy. Post-crisis, the weight of arguments tilts towards acceptance of financial stability as an objective of central bank or monetary policy. However, the key challenge is to evolve a consistent framework for implementation. While interest rate can continue as the dominant instrument for implementing monetary policy, supplementing it with other quantity or macro-prudential ins
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
The global financial crisis has challenged the conventional views on the role of monetary policy. Post-crisis, the weight of arguments tilts towards acceptance of financial stability as an objective of central bank or monetary policy. However, the key challenge is to evolve a consistent framework for implementation. While interest rate can continue as the dominant instrument for implementing monetary policy, supplementing it with other quantity or macro-prudential ins
Mar 29, 2011
Frontier Issues on the Global Agenda Emerging Economy Perspective
First of all, my thanks to the Central Bank of Sri Lanka (CBSL) and to Governor Cabraal for inviting me to deliver this commemorative oration as part of CBSL’s Diamond Jubilee celebrations. I gather that a number of distinguished people have given orations as part of this anniversary series. I am indeed honoured to add my name to that very select list. My compliments to the management and staff of CBSL on this happy and historic occasion. 2. As institutions, central b
Dr. D. Subbarao, Governor, Reserve Bank of India
First of all, my thanks to the Central Bank of Sri Lanka (CBSL) and to Governor Cabraal for inviting me to deliver this commemorative oration as part of CBSL’s Diamond Jubilee celebrations. I gather that a number of distinguished people have given orations as part of this anniversary series. I am indeed honoured to add my name to that very select list. My compliments to the management and staff of CBSL on this happy and historic occasion. 2. As institutions, central b
Mar 28, 2011
Financial Inclusion: A Consumer Centric View
I. Introduction It is a great pleasure for me to be delivering the VIth V. Narayanan Memorial Lecture. I never had the opportunity to meet Mr. Narayanan, but, from what I have heard and read about him, he was clearly a person dedicated to the mission of expanding the reach of and access to banking services in a way which benefitted both the customer and the service provider. As you may know, the financial inclusion agenda has assumed top priority in the Reserve Bank o
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
I. Introduction It is a great pleasure for me to be delivering the VIth V. Narayanan Memorial Lecture. I never had the opportunity to meet Mr. Narayanan, but, from what I have heard and read about him, he was clearly a person dedicated to the mission of expanding the reach of and access to banking services in a way which benefitted both the customer and the service provider. As you may know, the financial inclusion agenda has assumed top priority in the Reserve Bank o
Mar 24, 2011
Economic and Financial Developments in the North-Eastern States
I thank Gauhati University for inviting me to address this distinguished gathering. The North-Eastern States (NES)1, also known as land of seven sisters, are very richly endowed. The North-Eastern region covers 5.5 per cent of the total geographical area of the country and accounts for 3.9 per cent of the national population and 2.7 per cent of all-India net domestic product (NDP). The lushness of its landscape, geographical and ecological diversity and range of commu
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank Gauhati University for inviting me to address this distinguished gathering. The North-Eastern States (NES)1, also known as land of seven sisters, are very richly endowed. The North-Eastern region covers 5.5 per cent of the total geographical area of the country and accounts for 3.9 per cent of the national population and 2.7 per cent of all-India net domestic product (NDP). The lushness of its landscape, geographical and ecological diversity and range of commu
Mar 16, 2011
Banking and Beyond: New Challenges before Indian Financial System
Lord Stephen Green, Minister for Trade and Investment, UK, distinguished panelists, distinguished guests, ladies and gentlemen. First of all my thanks to Mint, Mumbai, and to my good friends Tamal and R Sukumar for inviting me to initiate today’s debate – “Banking & Beyond: New Challenges Before Indian Financial System” with a panel of luminaries on the stage. Over the years, Mint, through its Clarity Through Debate trail-blazer series has been flagging topical pu
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Lord Stephen Green, Minister for Trade and Investment, UK, distinguished panelists, distinguished guests, ladies and gentlemen. First of all my thanks to Mint, Mumbai, and to my good friends Tamal and R Sukumar for inviting me to initiate today’s debate – “Banking & Beyond: New Challenges Before Indian Financial System” with a panel of luminaries on the stage. Over the years, Mint, through its Clarity Through Debate trail-blazer series has been flagging topical pu
Feb 24, 2011
The Reserve Bank of India Making a Difference in Your Daily Life
First of all, my thanks to the Governor and Chancellor, HE Shri M.C. Bhandare, Vice Chancellor Professor Pujari, faculty and students of Sambalpur University for inviting me to be the convocation speaker this year. This is an honour to which I attach a lot of value. It feels wonderful to be in this beautiful state of Orissa and in the bustling Sambalpur area. Changes Around the World 2. All of you young graduates, passing out with degrees today, are a delightful sight
Dr. D. Subbarao, Governor, Reserve Bank of India
First of all, my thanks to the Governor and Chancellor, HE Shri M.C. Bhandare, Vice Chancellor Professor Pujari, faculty and students of Sambalpur University for inviting me to be the convocation speaker this year. This is an honour to which I attach a lot of value. It feels wonderful to be in this beautiful state of Orissa and in the bustling Sambalpur area. Changes Around the World 2. All of you young graduates, passing out with degrees today, are a delightful sight
Feb 21, 2011
Approach to Capital Account Management - Shifting Contours
1. Thank you for inviting me to this forum once again and that too in these sublime environs. Only in such sublimity could the deeply spiritual concept of “Gross National Happiness” have been crystallised into a national policy mission. The theory of Gross National Happiness (GNH) established by His Majesty the King of Bhutan in 1972, defines Bhutan’s development objective as improvement in the happiness and satisfaction of the people rather than growth of Gross Natio
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
1. Thank you for inviting me to this forum once again and that too in these sublime environs. Only in such sublimity could the deeply spiritual concept of “Gross National Happiness” have been crystallised into a national policy mission. The theory of Gross National Happiness (GNH) established by His Majesty the King of Bhutan in 1972, defines Bhutan’s development objective as improvement in the happiness and satisfaction of the people rather than growth of Gross Natio
Feb 18, 2011
Beyond CBS : Fast Forward to Banking 2.0!
Shri M V Nair, Chairman & Managing Director, Union Bank of India, Shri B Sambamurthy, Director, IDRBT, Shri S S Mundra, Executive Director, Union Bank of India, Shri M G Sanghvi, Executive Director, Bank of Maharashtra, senior bankers, other distinguished guest, ladies and gentlemen. It is a pleasure to be in your midst today at this Executive Roundtable organised by IDRBT in association with Union Bank of India on the theme “Beyond Core Banking”. As you may
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri M V Nair, Chairman & Managing Director, Union Bank of India, Shri B Sambamurthy, Director, IDRBT, Shri S S Mundra, Executive Director, Union Bank of India, Shri M G Sanghvi, Executive Director, Bank of Maharashtra, senior bankers, other distinguished guest, ladies and gentlemen. It is a pleasure to be in your midst today at this Executive Roundtable organised by IDRBT in association with Union Bank of India on the theme “Beyond Core Banking”. As you may
Feb 14, 2011
Introduction of IFRS- Issues and Challenges
Dr Naresh Chandra, Principal, Birla College, Former Pro Vice Chancellor, Mumbai University, Dr Shyam Agrawal, eminent eye surgeon, Shri M. M. Chitale, veteran CA and Chairman NACAS, Shri U. Venkataraman, CEO- Currency Derivatives Segment & Whole Time Director, MCX-SX, Principal of PDL College of Commerce and Economics and my dear student Dr N. N. Pandey, Prof D. M. Kadhi, Convenor, other distinguished guests, ladies and gentlemen. I am delighted to be present here
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Dr Naresh Chandra, Principal, Birla College, Former Pro Vice Chancellor, Mumbai University, Dr Shyam Agrawal, eminent eye surgeon, Shri M. M. Chitale, veteran CA and Chairman NACAS, Shri U. Venkataraman, CEO- Currency Derivatives Segment & Whole Time Director, MCX-SX, Principal of PDL College of Commerce and Economics and my dear student Dr N. N. Pandey, Prof D. M. Kadhi, Convenor, other distinguished guests, ladies and gentlemen. I am delighted to be present here
Feb 11, 2011
Welcome Remarks by the Governor at the Third P. R. Brahmananda Memorial Lecture
I have great pleasure in welcoming Governor Stanley Fischer who will shortly be delivering the P.R. Brahmananda Memorial Lecture. A hearty welcome also to the members of the family of late Prof. Brahmananda - Shri P.R. Ramaswamy, and Smt. and Shri P.R. Vishwanath. Of course, a warm welcome to all the invitees, who have made time to come for this lecture. Prof. Brahmananda 2. Professor Brahmananda was a distinguished academic, a noted researcher and a respected teacher
Dr. D. Subbarao, Governor, Reserve Bank of India
I have great pleasure in welcoming Governor Stanley Fischer who will shortly be delivering the P.R. Brahmananda Memorial Lecture. A hearty welcome also to the members of the family of late Prof. Brahmananda - Shri P.R. Ramaswamy, and Smt. and Shri P.R. Vishwanath. Of course, a warm welcome to all the invitees, who have made time to come for this lecture. Prof. Brahmananda 2. Professor Brahmananda was a distinguished academic, a noted researcher and a respected teacher
Jan 31, 2011
Implications of the Expansion of Central Bank Balance Sheets
1. At the outset, let me congratulate the BIS for bringing out a very analytical and comprehensive paper on the subject. The topic for the session has been thrown into prominence by the experience of the recent financial crisis when many central banks were forced to adopt an expansionary stance of monetary policy. The expansion of balance sheets of central banks has important monetary and financial implications. In normal times, a central bank’s balance sheet attracts
Dr. D. Subbarao, Governor, Reserve Bank of India
1. At the outset, let me congratulate the BIS for bringing out a very analytical and comprehensive paper on the subject. The topic for the session has been thrown into prominence by the experience of the recent financial crisis when many central banks were forced to adopt an expansionary stance of monetary policy. The expansion of balance sheets of central banks has important monetary and financial implications. In normal times, a central bank’s balance sheet attracts
Jan 19, 2011
Emerging Trends in Payment Systems and Challenges
It is a pleasure and privilege to be here at the Banknet’s 7th Annual Conference on Payment Systems. The theme of today’s conference – ‘Moving to next generation payment systems & solutions’ - is fitting especially at a time when the banking industry is going through a transitional phase of broadening, deepening and strengthening the financial services available to the masses. I take this opportunity to congratulate Banknet for providing this platform for the bank
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
It is a pleasure and privilege to be here at the Banknet’s 7th Annual Conference on Payment Systems. The theme of today’s conference – ‘Moving to next generation payment systems & solutions’ - is fitting especially at a time when the banking industry is going through a transitional phase of broadening, deepening and strengthening the financial services available to the masses. I take this opportunity to congratulate Banknet for providing this platform for the bank
Jan 10, 2011
Centrality of banks in the financial system
1. I am delighted to be present here amongst you all on the occasion of the 12th Annual Conference of FIMMDA-PDAI. These conferences have over the years assumed importance in not just bringing the participants together to tally notes and network but to take a pause and reflect over the issues arising out of fast changing times. 2. I see from the agenda for the conference that the focus is on the emerging post-crisis regulatory landscape for the financial sector – Base
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
1. I am delighted to be present here amongst you all on the occasion of the 12th Annual Conference of FIMMDA-PDAI. These conferences have over the years assumed importance in not just bringing the participants together to tally notes and network but to take a pause and reflect over the issues arising out of fast changing times. 2. I see from the agenda for the conference that the focus is on the emerging post-crisis regulatory landscape for the financial sector – Base
Jan 07, 2011
Dilemmas in Central Bank Communication: Some Reflections Based on Recent Experience
First of all my thanks to Business Standard, and to my good friends T.N. Ninan and Sanjaya Baru, for inviting me to deliver this second Business Standard Annual lecture. This is an honour to which I attach a lot of value. Central Bank Communication 2. As a part of my job, I accept several speaking commitments, and often I struggle to determine the topic for my speech and the key message I should be delivering. From that perspective, deciding on a topic for this lectur
Dr. D. Subbarao, Governor, Reserve Bank of India
First of all my thanks to Business Standard, and to my good friends T.N. Ninan and Sanjaya Baru, for inviting me to deliver this second Business Standard Annual lecture. This is an honour to which I attach a lot of value. Central Bank Communication 2. As a part of my job, I accept several speaking commitments, and often I struggle to determine the topic for my speech and the key message I should be delivering. From that perspective, deciding on a topic for this lectur
Dec 16, 2010
ASEM Conference on ‘Investment and its Financing: What causes private investment to remain relatively low in Asia?’
1. Mr. Peter Bekx, Director, European Commission. Mr. Subir Gokarn, Deputy Governor. Mr. Moreno Bertoldi, Head of Unit, European Commission. Ms. Valerie Rouxel-Laxton, Head of Sector, European Commission. Distinguished representatives from the ASEM member countries. Esteemed colleagues of central banks, representatives from multilateral organisations, think-tanks and academia, distinguished experts and friends. I am really privileged to have this pleasant opportunity
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
1. Mr. Peter Bekx, Director, European Commission. Mr. Subir Gokarn, Deputy Governor. Mr. Moreno Bertoldi, Head of Unit, European Commission. Ms. Valerie Rouxel-Laxton, Head of Sector, European Commission. Distinguished representatives from the ASEM member countries. Esteemed colleagues of central banks, representatives from multilateral organisations, think-tanks and academia, distinguished experts and friends. I am really privileged to have this pleasant opportunity
Dec 10, 2010
Prospects for Economic Growth and the Policy Imperatives for India
Mr Harshvardhan Neotia, Chairman, CII- Suresh Neotia Centre of Excellence for Leadership, distinguished guests, ladies and gentlemen, let me begin by thanking the organisers for inviting me to deliver this address on a theme which is both topical and of considerable relevance. My objective is to give a realistic assessment of the prospects of India’s economic growth, and the policy imperatives to achieve what is within our reach, while also ensuring that we do not fal
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mr Harshvardhan Neotia, Chairman, CII- Suresh Neotia Centre of Excellence for Leadership, distinguished guests, ladies and gentlemen, let me begin by thanking the organisers for inviting me to deliver this address on a theme which is both topical and of considerable relevance. My objective is to give a realistic assessment of the prospects of India’s economic growth, and the policy imperatives to achieve what is within our reach, while also ensuring that we do not fal
Dec 09, 2010
Monetary Policy Considerations after the Crisis: Practitioners’ Perspectives
Introduction I would like to thank the Ministry of Finance and the National Institute of Public Finance and Policy for inviting me to speak at this International Conference on Economic Policies for Inclusive Development. We tend to associate the process of inclusive growth and development with structural factors and the roles that they play in accelerating growth, enhancing labour productivity, creating human capital, providing access to safety nets and essential publ
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction I would like to thank the Ministry of Finance and the National Institute of Public Finance and Policy for inviting me to speak at this International Conference on Economic Policies for Inclusive Development. We tend to associate the process of inclusive growth and development with structural factors and the roles that they play in accelerating growth, enhancing labour productivity, creating human capital, providing access to safety nets and essential publ
Dec 08, 2010
Mint Road Milestones - Remarks of Dr. Duvvuri Subbarao, Governor at the Inauguration of NEWSIBITION at Kolkata
1. I am delighted to inaugurate this Newsibition of the Reserve Bank in this City of Joy. 2. Last year, the Reserve Bank celebrated our Platinum Jubilee. As part of the celebrations, we documented the 75 years of the Reserve Bank's history in the form of a book - Mint Road Milestones. Milestones is rich treasure trove of archival material including, photographs, news clippings, documents along with a commentary which weaves them all together in an interesting narrativ
Dr. D. Subbarao, Governor, Reserve Bank of India
1. I am delighted to inaugurate this Newsibition of the Reserve Bank in this City of Joy. 2. Last year, the Reserve Bank celebrated our Platinum Jubilee. As part of the celebrations, we documented the 75 years of the Reserve Bank's history in the form of a book - Mint Road Milestones. Milestones is rich treasure trove of archival material including, photographs, news clippings, documents along with a commentary which weaves them all together in an interesting narrativ
Dec 03, 2010
Five Frontier Issues in Indian Banking
First of all, many thanks to the organizers of BANCON 2010 for inviting me to inaugurate this conference. I understand this is a premier banking conference on the annual calendar where the top managements of banks and their economists brainstorm on current issues. The theme for this year’s conference ‘Ideate, Innovate and Inspire’ is thoughtful, imaginative, and most importantly, inspirational. 2. In the aftermath of the crisis, banks, banking and bankers are very muc
Dr. D. Subbarao, Governor, Reserve Bank of India
First of all, many thanks to the organizers of BANCON 2010 for inviting me to inaugurate this conference. I understand this is a premier banking conference on the annual calendar where the top managements of banks and their economists brainstorm on current issues. The theme for this year’s conference ‘Ideate, Innovate and Inspire’ is thoughtful, imaginative, and most importantly, inspirational. 2. In the aftermath of the crisis, banks, banking and bankers are very muc
Nov 29, 2010
Inclusive Growth – Role of Financial Sector
Prof Ashok Kolaskar, Vice Chancellor, KIIT University, Dr Achyuta Samanta, Founder, KIIT University & KISS, Dr Karmarkar, MD, NABARD, distinguished guests, ladies and gentlemen. It is a pleasure and privilege to be here at the National Finance Conclave – 2010 being organized by School of Management, KIIT University, Bhubaneswar. KIIT University under the leadership of Dr Samanta is a living example to the society of the way of practicing social inclusion through s
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Prof Ashok Kolaskar, Vice Chancellor, KIIT University, Dr Achyuta Samanta, Founder, KIIT University & KISS, Dr Karmarkar, MD, NABARD, distinguished guests, ladies and gentlemen. It is a pleasure and privilege to be here at the National Finance Conclave – 2010 being organized by School of Management, KIIT University, Bhubaneswar. KIIT University under the leadership of Dr Samanta is a living example to the society of the way of practicing social inclusion through s
Nov 23, 2010
Remarks by Smt Shyamala Gopinath, DG, RBI at the inauguration of Inter-Bank Mobile Payment Service of the National Payment Corporation of India at Mumbai on November 22, 2010
1. Mr Hota, Mr Balachandran, my colleague Mr Padmanabhan, other executives of NPCI, fellow bankers, other dignitaries and my media friends present here. I am honoured to be here and I thank the NPCI for inviting me to inaugurate the Interbank Mobile Payment Services (IMPS), which has the potential to change the retail payment landscape in India provided all the stakeholders get it right. 2. The success of mobile penetration in India is now widely recognized. This huge
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
1. Mr Hota, Mr Balachandran, my colleague Mr Padmanabhan, other executives of NPCI, fellow bankers, other dignitaries and my media friends present here. I am honoured to be here and I thank the NPCI for inviting me to inaugurate the Interbank Mobile Payment Services (IMPS), which has the potential to change the retail payment landscape in India provided all the stakeholders get it right. 2. The success of mobile penetration in India is now widely recognized. This huge
Nov 15, 2010
Developing the Humanware to Improve Customer Service
Mrs Udeshi, Chairperson, Banking Codes and Standards Board of India (BCSBI), Shri O. P. Bhatt, President, Indian Institute of Banking and Finance (IIBF) and Chairman, IBA, Shri B. M. Mittal, CEO, BCSBI, Shri Bhaskaran, CEO, IIBF, distinguished guests, ladies and gentlemen. It gives me great pleasure to be here to launch the Certificate Course on "Customer Service and Banking Codes and Standards" that has been designed by IIBF in association with BCSBI. IIBF has played
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mrs Udeshi, Chairperson, Banking Codes and Standards Board of India (BCSBI), Shri O. P. Bhatt, President, Indian Institute of Banking and Finance (IIBF) and Chairman, IBA, Shri B. M. Mittal, CEO, BCSBI, Shri Bhaskaran, CEO, IIBF, distinguished guests, ladies and gentlemen. It gives me great pleasure to be here to launch the Certificate Course on "Customer Service and Banking Codes and Standards" that has been designed by IIBF in association with BCSBI. IIBF has played
Nov 01, 2010
G-20 After the Crisis: An Indian Perspective
Introduction I would like to thank the organizers of this event for inviting me to deliver this keynote address. While the title of the session is "What India expects from the G-20", I think it would be extremely presumptuous of me to speak on behalf of the country as a whole. I have, of course, been involved with the G-20 process as the Central Bank deputy and, in that capacity have had the opportunity to contribute to the shaping of the Indian position on various is
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction I would like to thank the organizers of this event for inviting me to deliver this keynote address. While the title of the session is "What India expects from the G-20", I think it would be extremely presumptuous of me to speak on behalf of the country as a whole. I have, of course, been involved with the G-20 process as the Central Bank deputy and, in that capacity have had the opportunity to contribute to the shaping of the Indian position on various is
Oct 27, 2010
Frontier Issues on the Global Agenda Need for Global Cooperation
First of all, my thanks to the organizers of this conference - ICRIER, the German Development Institute (DIE) and InWent - for inviting me to inaugurate this conference on: “Policies for Growth and Financial Stability Beyond the Crisis - the Scope for Global Cooperation”. Having just returned from a meeting of G-20 Finance Ministers and Central Bank Governors in Korea over this weekend, I am deeply sensitive to the value of generating a wider debate on issues that the
Dr. D. Subbarao, Governor, Reserve Bank of India
First of all, my thanks to the organizers of this conference - ICRIER, the German Development Institute (DIE) and InWent - for inviting me to inaugurate this conference on: “Policies for Growth and Financial Stability Beyond the Crisis - the Scope for Global Cooperation”. Having just returned from a meeting of G-20 Finance Ministers and Central Bank Governors in Korea over this weekend, I am deeply sensitive to the value of generating a wider debate on issues that the
Oct 26, 2010
The Price of Protein
Introduction It is a great pleasure for me to be speaking at this seminar to celebrate the 75th birthday of Prof. Kirit Parikh. During the time that I spent at IGIDR under his leadership, I had the opportunity to work on a number of issues, on all of which I received enormous support and encouragement from him, which has continued even after first I and then he moved on to other institutions. My years at IGIDR provided me firm foundations in individual and collective
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction It is a great pleasure for me to be speaking at this seminar to celebrate the 75th birthday of Prof. Kirit Parikh. During the time that I spent at IGIDR under his leadership, I had the opportunity to work on a number of issues, on all of which I received enormous support and encouragement from him, which has continued even after first I and then he moved on to other institutions. My years at IGIDR provided me firm foundations in individual and collective
Oct 26, 2010
Presentation by Dr. Subir Gokarn, DG, RBI - The Price of Protein - at IGIDR, Mumbai
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Oct 10, 2010
Emerging Market Economies Leading Global Growth
The three issues laid out in today’s agenda are particularly relevant at this juncture and how we answer them in the months ahead will determine how the world regains and then sustains economic growth and financial stability. Let me begin with the first issue : How can emerging market economies (EMEs) best contribute towards securing global economic prosperity? The most important way in which EMEs can contribute to global economic prosperity is by doing more of what t
Dr. D. Subbarao, Governor, Reserve Bank of India
The three issues laid out in today’s agenda are particularly relevant at this juncture and how we answer them in the months ahead will determine how the world regains and then sustains economic growth and financial stability. Let me begin with the first issue : How can emerging market economies (EMEs) best contribute towards securing global economic prosperity? The most important way in which EMEs can contribute to global economic prosperity is by doing more of what t
Oct 05, 2010
Managing the Growth-Inflation Balance in India : Current Considerations and Long-term Perspectives
Introduction I would like to thank the Private Equity International India Forum for inviting me to deliver this Keynote Address. I believe that channels of finance like venture capital will play an increasingly significant role in India. Sustaining the current growth momentum over a long period of time will clearly depend heavily on the ability of new business ideas to first, find start-up funding and then, grow to scales at which traditional funding sources can be ac
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction I would like to thank the Private Equity International India Forum for inviting me to deliver this Keynote Address. I believe that channels of finance like venture capital will play an increasingly significant role in India. Sustaining the current growth momentum over a long period of time will clearly depend heavily on the ability of new business ideas to first, find start-up funding and then, grow to scales at which traditional funding sources can be ac
Oct 05, 2010
Presentation by Dr. Subir Gokarn, DG, RBI - Managing the Growth-Inflation Balance in India : Current Considerations and Long-term Perspectives, Mumbai
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Oct 01, 2010
Perspectives on Inflation in India
I thank the Bankers Club, Chennai and Shri T.M.Bhasin, Chairman & Managing Director, Indian Bank for providing me this opportunity to speak before you. As you know, the Reserve Bank released its first Mid-Quarter Review of Monetary Policy for 2010-11 on September 16, 2010 raising policy interest rates for the fifth time since March 2010. The Reserve Bank is concerned over the unacceptably high inflation rate. In the meanwhile, the Government has also released the
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank the Bankers Club, Chennai and Shri T.M.Bhasin, Chairman & Managing Director, Indian Bank for providing me this opportunity to speak before you. As you know, the Reserve Bank released its first Mid-Quarter Review of Monetary Policy for 2010-11 on September 16, 2010 raising policy interest rates for the fifth time since March 2010. The Reserve Bank is concerned over the unacceptably high inflation rate. In the meanwhile, the Government has also released the
Sep 20, 2010
Perspectives on Financial Sector Strategy
I welcome this initiative by the Asia-Europe Business Forum to organize a discussion on opportunities and challenges for financial services in our respective regions. Virtually all significant debate that is taking place today on financial sector regulation and development, whether in advanced or emerging economies, is placed in the context of the crisis and the role that the financial sector played in it. However, there is a significant asymmetry in that debate, as i
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
I welcome this initiative by the Asia-Europe Business Forum to organize a discussion on opportunities and challenges for financial services in our respective regions. Virtually all significant debate that is taking place today on financial sector regulation and development, whether in advanced or emerging economies, is placed in the context of the crisis and the role that the financial sector played in it. However, there is a significant asymmetry in that debate, as i
Sep 20, 2010
Dilemmas in Central Banking - Foundation Day Lecture delivered by Dr. D. Subbarao, Governor, RBI, at University of Hyderabad on September 20, 2010
Dr. D. Subbarao, Governor, Reserve Bank of India
Sep 15, 2010
Macro-prudential Approach to Regulation - Scope and Issues- Shyamala Gopinath, DG, RBI
1. Explicit pursuit of macroeconomic and financial stability can be said to be the single most significant take away from the recent crisis. More than the specifics, the importance of this mandate lies in decisively effecting a course correction with regard to the approach and philosophy for regulation of the financial system. It is being acknowledged that a macro prudential perspective is critical in designing and pursuing micro prudential regulation of institutions
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
1. Explicit pursuit of macroeconomic and financial stability can be said to be the single most significant take away from the recent crisis. More than the specifics, the importance of this mandate lies in decisively effecting a course correction with regard to the approach and philosophy for regulation of the financial system. It is being acknowledged that a macro prudential perspective is critical in designing and pursuing micro prudential regulation of institutions
Sep 09, 2010
Banking Transactions in the Next Decade: Faster, Cheaper and Easier
Distinguished guests, ladies and gentlemen. It is a pleasure and privilege to be here today at this ninth Annual Conference on “Global Banking: Paradigm shift” jointly organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian Banks’ Association (IBA). The theme of this year’s Conference is “Banking 2020: Making the Decade’s Promise Come True”. Let me begin by asking to whom are we making this promise. We are making this promise to the cust
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Distinguished guests, ladies and gentlemen. It is a pleasure and privilege to be here today at this ninth Annual Conference on “Global Banking: Paradigm shift” jointly organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian Banks’ Association (IBA). The theme of this year’s Conference is “Banking 2020: Making the Decade’s Promise Come True”. Let me begin by asking to whom are we making this promise. We are making this promise to the cust
Sep 09, 2010
Preparing Indian Banks for Global Competitiveness : Strategic and Policy Perspectives
Introduction It would be no exaggeration to say that the financial world is a vastly different place after the crisis. Many propositions that might have been taken for granted until it precipitated are being questioned in its wake. One set of these surely has to be about the things that go into making banks globally competitive. The increasing visibility and dominance of multinational financial corporations in the years before the crisis contributed to the perception
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction It would be no exaggeration to say that the financial world is a vastly different place after the crisis. Many propositions that might have been taken for granted until it precipitated are being questioned in its wake. One set of these surely has to be about the things that go into making banks globally competitive. The increasing visibility and dominance of multinational financial corporations in the years before the crisis contributed to the perception
Sep 08, 2010
Key Note Address at the Panel Session on “Setting new paradigm in regulation”
The global financial crisis was predominantly a first world phenomenon. The fall out in the emerging market economies (EMEs) was mostly through contagion. The level of financial sector development, complexity of financial markets, extent of deregulation and global integration, the degree of leverage of households and financial intermediaries, the nature of business model and quality of supervision determined the impact of the crisis on any institution or jurisdiction.
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
The global financial crisis was predominantly a first world phenomenon. The fall out in the emerging market economies (EMEs) was mostly through contagion. The level of financial sector development, complexity of financial markets, extent of deregulation and global integration, the degree of leverage of households and financial intermediaries, the nature of business model and quality of supervision determined the impact of the crisis on any institution or jurisdiction.
Sep 07, 2010
Post-Crisis Reforms to Banking Regulation and Supervision – Think Global, Act Local
Thank you very much for inviting me to inaugurate this FICCI-IBA Conference on “Global Banking: Paradigm Shift”. This Conference is a flagship event in the annual banking calendar, and I attach a lot of value to this opportunity of speaking to and interacting with the banking community. 2. When I spoke at this forum last year, I had touched on some of the early lessons of the global crisis and how they were shaping the debate on reforms to banking regulation and super
Dr. D. Subbarao, Governor, Reserve Bank of India
Thank you very much for inviting me to inaugurate this FICCI-IBA Conference on “Global Banking: Paradigm Shift”. This Conference is a flagship event in the annual banking calendar, and I attach a lot of value to this opportunity of speaking to and interacting with the banking community. 2. When I spoke at this forum last year, I had touched on some of the early lessons of the global crisis and how they were shaping the debate on reforms to banking regulation and super
Sep 03, 2010
Technology in Banking : An Instrument for Economic Growth
Mr Bodhisatva Ganguly, Resident Editor, Economic Times, distinguished guests, ladies and gentlemen. At the very outset, I want to say that it is a pleasure and a privilege to be amidst this august gathering and to be a part of the Banking Technology Conclave 2010. I congratulate the Economic Times for organizing this Technology Conclave, the fourth in the series, on the theme “Leveraging technology for fuelling growth and development”. The contribution of technology t
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mr Bodhisatva Ganguly, Resident Editor, Economic Times, distinguished guests, ladies and gentlemen. At the very outset, I want to say that it is a pleasure and a privilege to be amidst this august gathering and to be a part of the Banking Technology Conclave 2010. I congratulate the Economic Times for organizing this Technology Conclave, the fourth in the series, on the theme “Leveraging technology for fuelling growth and development”. The contribution of technology t
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