Speeches - આરબીઆઈ - Reserve Bank of India
Speeches & Interviews
Speeches & Media Interactions
Monetary Policy Statement by Shri Shaktikanta Das, RBI Governor June 07, 2024
Speeches
સપ્ટે 13, 2007
India: Development and Reform Experience; and Prospects
Governor Ortiz and Friends, I am delighted to be here in Mexico to address this august gathering at the Bank of Mexico. I am honoured by the invitation extended to me. Governor Ortiz is among the most respected Central Bank Governors. His perceptions and words of wisdom, based on sound understanding of theory as well as compulsions of public policy making, are eagerly sought. In fact, Governor Ortiz heads the Central Bank Governance Group in the Bank for International
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Governor Ortiz and Friends, I am delighted to be here in Mexico to address this august gathering at the Bank of Mexico. I am honoured by the invitation extended to me. Governor Ortiz is among the most respected Central Bank Governors. His perceptions and words of wisdom, based on sound understanding of theory as well as compulsions of public policy making, are eagerly sought. In fact, Governor Ortiz heads the Central Bank Governance Group in the Bank for International
સપ્ટે 07, 2007
Monetary Policy Developments in India: An Overview
Friends,I am honored by the kind invitation of Governor Stefan Ingves to visit Riksbank and give an address at the central bank. It is a great privilege to address an august gathering in the oldest central bank in the world, Riksbank. I came in close contact with Governor Ingves when he was working with the IMF. As a Director in the Executive Board of IMF, I have been an admirer of Mr. Ingves when he headed the Monetary and Exchange Affairs Department, which has now b
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Friends,I am honored by the kind invitation of Governor Stefan Ingves to visit Riksbank and give an address at the central bank. It is a great privilege to address an august gathering in the oldest central bank in the world, Riksbank. I came in close contact with Governor Ingves when he was working with the IMF. As a Director in the Executive Board of IMF, I have been an admirer of Mr. Ingves when he headed the Monetary and Exchange Affairs Department, which has now b
ઑગસ્ટ 03, 2007
First Quarter Review of Monetary Policy: Underlying Macroeconomics
Shri Bhatt and distinguished participants, I am deeply honoured to be invited to deliver the valedictory address at the High Powered Macroeconomic Workshop organised by the State Bank of India. I am particularly gratified that this Workshop has become a reality, since its genesis is in the extremely useful discussions that we in the Reserve Bank of India had with the Indian Banks’ Association as part of pre-Annual Policy consultations held in April this year. Th
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Shri Bhatt and distinguished participants, I am deeply honoured to be invited to deliver the valedictory address at the High Powered Macroeconomic Workshop organised by the State Bank of India. I am particularly gratified that this Workshop has become a reality, since its genesis is in the extremely useful discussions that we in the Reserve Bank of India had with the Indian Banks’ Association as part of pre-Annual Policy consultations held in April this year. Th
જુલાઈ 03, 2007
Glimpses of Indian Economy and its Financial Sector
Chairman Sergey M. Ignatiev and distinguished central bankers of the Bank of Russia, I am grateful to Chairman Ignatiev for inviting me to visit your bank and interact with you for mutual benefit. I have the pleasure of meeting my friend Chairman Ignatiev, almost once a month, in meetings of BIS or G20 or IMF or other international seminars. His address in Buenos Aires in early June on the current state of Russian economy was highly appreciated because he gave a glimp
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Chairman Sergey M. Ignatiev and distinguished central bankers of the Bank of Russia, I am grateful to Chairman Ignatiev for inviting me to visit your bank and interact with you for mutual benefit. I have the pleasure of meeting my friend Chairman Ignatiev, almost once a month, in meetings of BIS or G20 or IMF or other international seminars. His address in Buenos Aires in early June on the current state of Russian economy was highly appreciated because he gave a glimp
જુલાઈ 02, 2007
Statistical System of India: Some Reflections
I am delighted and honoured to be at this auspicious occasion of the first Statistics Day and to inaugurate first Annual Conference on Financial Statistics. As a member of the statistics community, it is matter of great pride that June 29, birth anniversary of (late) Professor Prasanta Chandra Mahalanobis, has been declared by the Government of India as Statistics Day. I am particularly happy that Professor Parikh is here who began his professional life in
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I am delighted and honoured to be at this auspicious occasion of the first Statistics Day and to inaugurate first Annual Conference on Financial Statistics. As a member of the statistics community, it is matter of great pride that June 29, birth anniversary of (late) Professor Prasanta Chandra Mahalanobis, has been declared by the Government of India as Statistics Day. I am particularly happy that Professor Parikh is here who began his professional life in
જૂન 29, 2007
Random Thoughts on Statistics and Surveys
Dr. Barman, Mr. Paul Vanden Bergh, Dr. Karunasena, Mr. Sandip Ghose, distinguished participants, ladies and gentlemen, I am thankful to the organisers for giving me the privilege and pleasure of being with you at the Workshop on ‘Use of Surveys by Central Banks’, organised jointly by the South-East Asian Central Banks (SEACEN), Irving Fisher Committee (IFC) - Bank for International Settlements (BIS) and Reserve Bank of India (RBI). It is a collaborative effort of seve
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Dr. Barman, Mr. Paul Vanden Bergh, Dr. Karunasena, Mr. Sandip Ghose, distinguished participants, ladies and gentlemen, I am thankful to the organisers for giving me the privilege and pleasure of being with you at the Workshop on ‘Use of Surveys by Central Banks’, organised jointly by the South-East Asian Central Banks (SEACEN), Irving Fisher Committee (IFC) - Bank for International Settlements (BIS) and Reserve Bank of India (RBI). It is a collaborative effort of seve
જૂન 28, 2007
Second P. R. Brahmananda Memorial Lecture
Governance Institutions and Development I greatly appreciate the honor of being invited to deliver the Brahmananda Memorial Lecture. I share the immense admiration and respect you all have for his scholarship, his teaching, and his untiring service for the economics profession and the country. It is indeed a privilege to give a talk in his memory. And it is a special pleasure to follow my long-standing friend Lord Desai, who gave the inaugural lecture in this series.
Avinash K. Dixit, John J. F. Sherrerd University Professor of Economics
Governance Institutions and Development I greatly appreciate the honor of being invited to deliver the Brahmananda Memorial Lecture. I share the immense admiration and respect you all have for his scholarship, his teaching, and his untiring service for the economics profession and the country. It is indeed a privilege to give a talk in his memory. And it is a special pleasure to follow my long-standing friend Lord Desai, who gave the inaugural lecture in this series.
જૂન 21, 2007
Financial Inclusion – The Indian Experience
Ladies and gentlemen,I thank Her Majesty’s Treasury and DFID for organising this conference and inviting the Reserve Bank of India to share India’s experiences in achieving greater financial inclusion (FI). We, in India, have been greatly impressed by the focused attention being paid by the UK Government to the subject of FI. I had read a very detailed report by the British Banker’s Association in 2000 dwelling upon the issues involved in providing greater acces
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
Ladies and gentlemen,I thank Her Majesty’s Treasury and DFID for organising this conference and inviting the Reserve Bank of India to share India’s experiences in achieving greater financial inclusion (FI). We, in India, have been greatly impressed by the focused attention being paid by the UK Government to the subject of FI. I had read a very detailed report by the British Banker’s Association in 2000 dwelling upon the issues involved in providing greater acces
જૂન 20, 2007
Risk Management in an Open Market Economy
Peter L. Bernstein in his celebrated book Against the Gods writes, 'The revolutionary idea that defines the boundary between modern times and the past is the mastery of risk: the notion that the future is more than a whim of the Gods and that men and women are not passive before nature. Until human beings discovered a way across that boundary, the future was a mirror of the past or the murky domain of oracles and soothsayers who held monopoly over knowledge of anticip
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Peter L. Bernstein in his celebrated book Against the Gods writes, 'The revolutionary idea that defines the boundary between modern times and the past is the mastery of risk: the notion that the future is more than a whim of the Gods and that men and women are not passive before nature. Until human beings discovered a way across that boundary, the future was a mirror of the past or the murky domain of oracles and soothsayers who held monopoly over knowledge of anticip
જૂન 14, 2007
Capital Account Liberalisation and Conduct of Monetary Policy: The Indian Experience – Paper Presented by Dr. Rakesh Mohan
I. Overall Approach The distinguishing feature of our overall reform process initiated in the early 1990s has been the accomplishment of high economic growth in an environment of macro economic and financial stability. In fact, we have achieved acceleration in growth while maintaining price and financial stability. During this period, apart from all the other reforms, we have achieved current account convertibility, and also opened the capital account to a substantial
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I. Overall Approach The distinguishing feature of our overall reform process initiated in the early 1990s has been the accomplishment of high economic growth in an environment of macro economic and financial stability. In fact, we have achieved acceleration in growth while maintaining price and financial stability. During this period, apart from all the other reforms, we have achieved current account convertibility, and also opened the capital account to a substantial
જૂન 12, 2007
The Challenges of Financial Liberalisation for Emerging Market Economies
I am very pleased and honoured to be here and I want to thank warmly my good friend, Dr Reddy, for having invited me to address the staff of the Reserve Bank of India (RBI).The BIS recently announced that the RBI Vice-Governor, Mr Rakesh Mohan, will chair a new working group on "Capital flows and emerging economies". I would like to congratulate him for accepting to explore this complex issue. I will offer some views on a related topic: "the challenges of financial li
Mr. Christian Noyer, Governor of Banque de France
I am very pleased and honoured to be here and I want to thank warmly my good friend, Dr Reddy, for having invited me to address the staff of the Reserve Bank of India (RBI).The BIS recently announced that the RBI Vice-Governor, Mr Rakesh Mohan, will chair a new working group on "Capital flows and emerging economies". I would like to congratulate him for accepting to explore this complex issue. I will offer some views on a related topic: "the challenges of financial li
જૂન 08, 2007
Indian Economy: Review, Prospects and Select Issues
Governor Corbo and Friends, I am honoured by the kind invitation of Governor Corbo to visit the esteemed Central Bank of Chile. We, in the Reserve Bank of India, deeply appreciate the gesture. Governor Corbo is respected for his lucid expositions on complex issues in various international fora. While his analysis of monetary policy challenges in Chile is a matter of interest to the central bankers, his understanding of global developments, especially of Emerging Marke
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Governor Corbo and Friends, I am honoured by the kind invitation of Governor Corbo to visit the esteemed Central Bank of Chile. We, in the Reserve Bank of India, deeply appreciate the gesture. Governor Corbo is respected for his lucid expositions on complex issues in various international fora. While his analysis of monetary policy challenges in Chile is a matter of interest to the central bankers, his understanding of global developments, especially of Emerging Marke
જૂન 05, 2007
The Growing Influence of the Emerging World
Mr. Chairman, Governor Redrado, Chairman Ignatiev and distinguished participants,I am honoured by the kind invitation of Governor Redrado to visit Argentina and participate in the Annual Money and Banking Seminar at the Central Bank of Argentina with focus on ‘monetary policy under uncertainty’. I must compliment Governor Martin Redrado for assembling a galaxy of central bank Governors, leading market analysts and globally renowned academics. The assemblage is a tribu
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Mr. Chairman, Governor Redrado, Chairman Ignatiev and distinguished participants,I am honoured by the kind invitation of Governor Redrado to visit Argentina and participate in the Annual Money and Banking Seminar at the Central Bank of Argentina with focus on ‘monetary policy under uncertainty’. I must compliment Governor Martin Redrado for assembling a galaxy of central bank Governors, leading market analysts and globally renowned academics. The assemblage is a tribu
મે 29, 2007
Select Aspects of the Indian Economy
Governor Fukui and friends, I am honoured by the kind invitation of Governor Fukui to visit your esteemed bank. We, in the Reserve Bank of India (RBI), deeply appreciate the gesture. Governor Toshihiko Fukui is highly respected in various central banks’ fora for his depth of knowledge, wisdom and very transparent expositions on the economy of Japan and the Bank of Japan’s policies. We look forward to Governor Fukui's acceptance of our invitation to him to visit the Re
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Governor Fukui and friends, I am honoured by the kind invitation of Governor Fukui to visit your esteemed bank. We, in the Reserve Bank of India (RBI), deeply appreciate the gesture. Governor Toshihiko Fukui is highly respected in various central banks’ fora for his depth of knowledge, wisdom and very transparent expositions on the economy of Japan and the Bank of Japan’s policies. We look forward to Governor Fukui's acceptance of our invitation to him to visit the Re
મે 28, 2007
India – Perspective for Growth with Stability
Professor Sakakibara, Governor Fukui, Ambassador Singh and the distinguished participants, I am honoured to be invited at the 'Symposium on Current India' organised by the Waseda University Institute for Indian Economic Studies. I am grateful to Professor Sakakibara, a globally distinguished economic statesman, for inviting me to be here. It is also a privilege to share a platform with universally respected Governor Fukui. There are strong complementarities in the eco
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Professor Sakakibara, Governor Fukui, Ambassador Singh and the distinguished participants, I am honoured to be invited at the 'Symposium on Current India' organised by the Waseda University Institute for Indian Economic Studies. I am grateful to Professor Sakakibara, a globally distinguished economic statesman, for inviting me to be here. It is also a privilege to share a platform with universally respected Governor Fukui. There are strong complementarities in the eco
મે 17, 2007
The Indian Economy : Review and Prospects
Mr. Latifur Rahman, President–Metropolitan Chamber of Commerce and Industry, Mr. Mahbubur Rahman, President–ICC, Bangladesh, the distinguished members of the trade bodies and dear Friends,I am honoured to be invited to deliver this address today at the Metropolitan Chamber of Commerce and Industry, Dhaka. We, in the Reserve Bank of India (RBI), had the pleasure of receiving recently your delegation. On that occasion, I had accepted the invitation, in principle, to add
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Mr. Latifur Rahman, President–Metropolitan Chamber of Commerce and Industry, Mr. Mahbubur Rahman, President–ICC, Bangladesh, the distinguished members of the trade bodies and dear Friends,I am honoured to be invited to deliver this address today at the Metropolitan Chamber of Commerce and Industry, Dhaka. We, in the Reserve Bank of India (RBI), had the pleasure of receiving recently your delegation. On that occasion, I had accepted the invitation, in principle, to add
મે 16, 2007
Development of Financial Markets in India
I am delighted to have the opportunity of speaking on the issue of development of financial markets along with Mr. Christian Noyer, Governor of the Banque de France. He has displayed a deep commitment to the development of financial markets over the years and we heard a very thoughtful speech from him on this subject at the Reserve Bank just two days ago. His approach to financial markets is marked by a great degree of pragmatism: as we develop financial m
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I am delighted to have the opportunity of speaking on the issue of development of financial markets along with Mr. Christian Noyer, Governor of the Banque de France. He has displayed a deep commitment to the development of financial markets over the years and we heard a very thoughtful speech from him on this subject at the Reserve Bank just two days ago. His approach to financial markets is marked by a great degree of pragmatism: as we develop financial m
એપ્રિલ 14, 2007
The Global Economy and Financial Markets
Mr. Chairman, 1. The continued expansion in world GDP in 2006, with growth crossing the 5 percent mark, points to the emergence of a new phase - one that is more diversified with most regions posting higher growth than in the previous year. It is heartening to note that the new robust phase is driven by emerging market economies with China and India continuing to contribute substantially to the global growth momentum. Growth rate in the Euro area accelerated and the r
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Mr. Chairman, 1. The continued expansion in world GDP in 2006, with growth crossing the 5 percent mark, points to the emergence of a new phase - one that is more diversified with most regions posting higher growth than in the previous year. It is heartening to note that the new robust phase is driven by emerging market economies with China and India continuing to contribute substantially to the global growth momentum. Growth rate in the Euro area accelerated and the r
એપ્રિલ 09, 2007
Special features of Financial Sector Reforms in India
Ms. Nitaya Pibulratanagit, Asst. Governor Bank of Thailand, Mr. Appiah Chairman Forex Association of India, Mr. Lamba Secretary Forex Association of India, delegates from India and Asia/Middle East, ladies and gentlemen. It is a pleasure to inaugurate the 18th annual conference of the Forex Association of India which is affiliated to ACI in this historical city of Bangkok. I understand FIMMDA had held a similar conference in Bangkok in 2003 which was inaugurated by my
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
Ms. Nitaya Pibulratanagit, Asst. Governor Bank of Thailand, Mr. Appiah Chairman Forex Association of India, Mr. Lamba Secretary Forex Association of India, delegates from India and Asia/Middle East, ladies and gentlemen. It is a pleasure to inaugurate the 18th annual conference of the Forex Association of India which is affiliated to ACI in this historical city of Bangkok. I understand FIMMDA had held a similar conference in Bangkok in 2003 which was inaugurated by my
એપ્રિલ 02, 2007
Monetary Policy Transmission in India
Key to the efficient conduct of monetary policy is the condition that it must exert a systematic influence on the economy in a forward-looking sense. A priori economic theory backed by some empirical evidence has identified the main channels through which monetary policy impacts its final targets, viz., output, employment and inflation. Broadly, the vehicles of monetary transmission can be classified into financial market prices (e.g., interest rates, exchange rates,
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Key to the efficient conduct of monetary policy is the condition that it must exert a systematic influence on the economy in a forward-looking sense. A priori economic theory backed by some empirical evidence has identified the main channels through which monetary policy impacts its final targets, viz., output, employment and inflation. Broadly, the vehicles of monetary transmission can be classified into financial market prices (e.g., interest rates, exchange rates,
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