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अक्‍तूबर 22, 2024
Recalibrating from Divergence to Convergence: The Indian Experience - Inaugural Address delivered by Michael Debabrata Patra, Deputy Governor, Reserve Bank of India - October 21, 2024 - at the New York Fed Central Banking Seminar organised by the Federal Reserve Bank, New York, USA

Good morning to you all! In the Indian tradition, Namaskar, which means I salute the divinity in you. It is always fulfilling to be here at the Annual Central Banking Seminar of the Federal Reserve Bank of New York. Over the years the seminar has become a landmark forum for the intermingling and cross-fertilisation of ideas and experiences among central bankers from all over the world. It is no wonder, therefore, that it has come to be regarded as a favoured stamping ground where practitioners of the profession rub shoulders and learn from each other about the ‘soiling of the hands’ in topically relevant issues in central banking.

Dr. Michael Debabrata Patra, Deputy Governor, Reserve Bank of India

Good morning to you all! In the Indian tradition, Namaskar, which means I salute the divinity in you. It is always fulfilling to be here at the Annual Central Banking Seminar of the Federal Reserve Bank of New York. Over the years the seminar has become a landmark forum for the intermingling and cross-fertilisation of ideas and experiences among central bankers from all over the world. It is no wonder, therefore, that it has come to be regarded as a favoured stamping ground where practitioners of the profession rub shoulders and learn from each other about the ‘soiling of the hands’ in topically relevant issues in central banking.

जून 28, 2024
18वें सांख्यिकी दिवस सम्मेलन में उद्घाटन भाषण - श्री शक्तिकान्त दास

I am happy to inaugurate the eighteenth Statistics Day Conference of the Reserve Bank. This annual event provides us with an opportunity to reflect on the current and evolving state of statistical system. It also helps us to take stock of the refinements in application of statistical methods and technologies in the realm of public policy.

श्री शक्तिकान्त दास, गवर्नर, भारतीय रिज़र्व बैंक

I am happy to inaugurate the eighteenth Statistics Day Conference of the Reserve Bank. This annual event provides us with an opportunity to reflect on the current and evolving state of statistical system. It also helps us to take stock of the refinements in application of statistical methods and technologies in the realm of public policy.

नवंबर 07, 2023
हरित एवं स्वच्छ भारत की ओर - माइकल देवब्रत पात्र

Good Morning to you all! I am delighted to be here again at the prestigious Annual Central Banking Seminar, a flagship event of the Federal Reserve Bank of New York for which it has earned global renown. It is truly an honour to interact with central bankers from around the world, our community of tomorrow. You embody the theme of India’s G20 Presidency – Vasudhaivya Kutumbakam: the world is one family. 

The Climate is Striking Back

In my past interactions in this Seminar, I have dwelled on macroeconomic stability; price stability; exchange rate stability; financial stability – all essentially issues centered around the core competence of conservative central bankers from which we are reluctant to stray. After all, central banks stand for stability.

श्री माइकल देवब्रत पात्र, उप गवर्नर, भारतीय रिज़र्व बैंक

Good Morning to you all! I am delighted to be here again at the prestigious Annual Central Banking Seminar, a flagship event of the Federal Reserve Bank of New York for which it has earned global renown. It is truly an honour to interact with central bankers from around the world, our community of tomorrow. You embody the theme of India’s G20 Presidency – Vasudhaivya Kutumbakam: the world is one family. 

The Climate is Striking Back

In my past interactions in this Seminar, I have dwelled on macroeconomic stability; price stability; exchange rate stability; financial stability – all essentially issues centered around the core competence of conservative central bankers from which we are reluctant to stray. After all, central banks stand for stability.

जुलाई 03, 2023
मौद्रिक नीति कार्य में सांख्यिकी की महत्वपूर्ण भूमिका - माइकल देबब्रत पात्र

Namaskar and Good Afternoon! Our eminent chief guest Professor S R S Varadhan, Frank Jay Gould Professor of Science, New York University and recipient of the Padma Vibhushan, Professor Rajeeva L. Karandikar, Chairman, National Statistical Commission – we eagerly await his keynote address -, Professor G. Sivakumar, Professor, Computer Science, Indian Institute of Technology, Bombay, whose guidance has been illuminating the voyage of CIMS from an idea to reality, distin

डॉ. माइकल देबब्रत पात्र, उप गवर्नर, भारतीय रिज़र्व बैंक

Namaskar and Good Afternoon! Our eminent chief guest Professor S R S Varadhan, Frank Jay Gould Professor of Science, New York University and recipient of the Padma Vibhushan, Professor Rajeeva L. Karandikar, Chairman, National Statistical Commission – we eagerly await his keynote address -, Professor G. Sivakumar, Professor, Computer Science, Indian Institute of Technology, Bombay, whose guidance has been illuminating the voyage of CIMS from an idea to reality, distin

जून 30, 2023
17वें सांख्यिकी दिवस सम्मेलन के अवसर पर उद्घाटन भाषण - शक्तिकान्त दास
I am happy to participate in the 17th annual ‘Statistics Day Conference’ of the Reserve Bank, and also to launch the ‘Centralised Information Management System’ or CIMS, which is our next generation data warehouse. Over two decades ago, the Reserve Bank was among the pioneer central banks to set up its data warehouse. Considering the developments during the interregnum, it is natural that we migrate to a new platform with a more enriched orientation. 2. Celebration of
श्री शक्तिकान्त दास, गवर्नर, भारतीय रिज़र्व बैंक
I am happy to participate in the 17th annual ‘Statistics Day Conference’ of the Reserve Bank, and also to launch the ‘Centralised Information Management System’ or CIMS, which is our next generation data warehouse. Over two decades ago, the Reserve Bank was among the pioneer central banks to set up its data warehouse. Considering the developments during the interregnum, it is natural that we migrate to a new platform with a more enriched orientation. 2. Celebration of
जून 11, 2023
उत्पादकता: प्रगति का वादा - माइकल देवब्रत पात्र
I. Introduction Good evening! I welcome you all to the sixth Asia KLEMS Conference, to India and to the Reserve Bank of India, henceforth RBI. We are honoured to host this conference in physical mode after the arduous isolation imposed by the pandemic. The hill town of Lonavala, an ancient resting place for travellers and traders, is nestled in India’s soon-to-be monsoon-drenched western ghats – a chain of mountains running 30 to 50 km inland parallel to India’s west
डॉ. माइकल देवब्रत पात्र, उप गवर्नर, भारतीय रिज़र्व बैंक
I. Introduction Good evening! I welcome you all to the sixth Asia KLEMS Conference, to India and to the Reserve Bank of India, henceforth RBI. We are honoured to host this conference in physical mode after the arduous isolation imposed by the pandemic. The hill town of Lonavala, an ancient resting place for travellers and traders, is nestled in India’s soon-to-be monsoon-drenched western ghats – a chain of mountains running 30 to 50 km inland parallel to India’s west
जनवरी 06, 2023
दक्षिण एशिया की वर्तमान समष्टि-आर्थिक चुनौतियां और नीतिगत प्राथमिकताएं - शक्तिकान्त दास
I am delighted to have been invited by the IMF to join this distinguished gathering here today to discuss pathways to resilient, sustainable and inclusive growth in South Asia. I am happy to note that the conference proceedings will be anchored by the research findings and policy recommendations of the book titled “South Asia’s Path to Resilient Growth”. In the current international setting, global trade and growth outlook appear uninspiring, and policies have to be c
श्री  शक्तिकान्त दास, गवर्नर, भारतीय रिज़र्व बैंक
I am delighted to have been invited by the IMF to join this distinguished gathering here today to discuss pathways to resilient, sustainable and inclusive growth in South Asia. I am happy to note that the conference proceedings will be anchored by the research findings and policy recommendations of the book titled “South Asia’s Path to Resilient Growth”. In the current international setting, global trade and growth outlook appear uninspiring, and policies have to be c
नवंबर 19, 2022
आर्थिक और नीति अनुसंधान विभाग, आरबीआई का वार्षिक अनुसंधान सम्मेलन – गवर्नर द्वारा उद्घाटन भाषण - शक्तिकान्त दास
I am delighted to be here with the economists of the Reserve Bank to inaugurate the annual research conference of the Department of Economic and Policy Research (DEPR). This conference is being held after a gap of more than three years. While I have been regularly interacting with many of you individually or in groups to discuss various issues, this is the first time that I am addressing all of you at one place. 2. The economics profession today faces one of its tough
श्री  शक्तिकान्त दास, गवर्नर, भारतीय रिज़र्व बैंक
I am delighted to be here with the economists of the Reserve Bank to inaugurate the annual research conference of the Department of Economic and Policy Research (DEPR). This conference is being held after a gap of more than three years. While I have been regularly interacting with many of you individually or in groups to discuss various issues, this is the first time that I am addressing all of you at one place. 2. The economics profession today faces one of its tough
अक्‍तूबर 31, 2022
भारतीय बैंकिंग के पचास वर्ष - आधारभूत सांख्यिकीय विवरणियों की दृष्टि से - माइकल देबब्रत पात्र
Dr. R. B. Barman, former Chairman, National Statistical Commission, Shri S. H. Saoji, Dr. A. K. Nag and other former colleagues who contributed richly to the Basic Statistical Return (BSR) system, senior officials from banks – I am glad to see many Chief Compliance Officers (CCOs) of banks participating today – Executive Directors and other colleagues from the Reserve Bank, Ladies and Gentlemen, 2. Today, we celebrate the 50th year of the BSR system and pause to refle
डॉ. माइकल देवव्रत पात्रा, उप गवर्नर, भारतीय रिज़र्व बैंक
Dr. R. B. Barman, former Chairman, National Statistical Commission, Shri S. H. Saoji, Dr. A. K. Nag and other former colleagues who contributed richly to the Basic Statistical Return (BSR) system, senior officials from banks – I am glad to see many Chief Compliance Officers (CCOs) of banks participating today – Executive Directors and other colleagues from the Reserve Bank, Ladies and Gentlemen, 2. Today, we celebrate the 50th year of the BSR system and pause to refle
अक्‍तूबर 21, 2022
भारतीय वित्तीय प्रणाली में नीतिगत विकल्पों पर विचार - एम राजेश्वर राव

I. Introduction: Indian Financial System- Looking back and looking ahead in the 75th year of Indian Independence Distinguished members of banking fraternity, ladies, and gentlemen It is a privilege to deliver the twelfth memorial lecture honouring the great legacy of late Shri R.K. Talwar. I feel thankful and humbled for this opportunity as an occasion to remember personality like Shri R.K. Talwar given his contribution to the banking industry. India recently celebrat

श्री एम.राजेश्वर राव, उप गवर्नर, भारतीय रिज़र्व बैंक

I. Introduction: Indian Financial System- Looking back and looking ahead in the 75th year of Indian Independence Distinguished members of banking fraternity, ladies, and gentlemen It is a privilege to deliver the twelfth memorial lecture honouring the great legacy of late Shri R.K. Talwar. I feel thankful and humbled for this opportunity as an occasion to remember personality like Shri R.K. Talwar given his contribution to the banking industry. India recently celebrat

अगस्त 24, 2022
दक्षिण एशिया में मुद्रास्फीति की गतिशीलता - माइकल देबब्रत पात्र

Good afternoon and a warm welcome to South Asian Association for Regional Cooperation (SAARC) central bank colleagues participating in this first physical seminar under the aegis of SAARCFINANCE after the onset of the pandemic. Greetings to Ms. Dechen Pelzom, Executive Director, Royal Monetary Authority of Bhutan. We are delighted to have with us colleagues from the Ministry of Finance, and virtual participants from our central banks, the Bank for International Settle

डॉ. माइकल देवव्रत पात्रा, उप गवर्नर, भारतीय रिज़र्व बैंक

Good afternoon and a warm welcome to South Asian Association for Regional Cooperation (SAARC) central bank colleagues participating in this first physical seminar under the aegis of SAARCFINANCE after the onset of the pandemic. Greetings to Ms. Dechen Pelzom, Executive Director, Royal Monetary Authority of Bhutan. We are delighted to have with us colleagues from the Ministry of Finance, and virtual participants from our central banks, the Bank for International Settle

अगस्त 13, 2022
75वें वर्ष में भारत - माइकल देबब्रत पात्र
Dr. Hrudananda Panda, Regional Director, Reserve Bank of India (RBI), Bhubaneswar, distinguished guests of the RBI from the Government of Odisha, academia, banks, financial institutions, industry associations, the media, scholars and students, my colleagues from the RBI, Ladies and Gentlemen, I am deeply honoured to be invited to deliver this address as part of the celebration of the 75th year of our Independence. I thank Dr. Panda for inviting me and more than that,
डॉ. माइकल देवव्रत पात्रा, उप गवर्नर, भारतीय रिज़र्व बैंक
Dr. Hrudananda Panda, Regional Director, Reserve Bank of India (RBI), Bhubaneswar, distinguished guests of the RBI from the Government of Odisha, academia, banks, financial institutions, industry associations, the media, scholars and students, my colleagues from the RBI, Ladies and Gentlemen, I am deeply honoured to be invited to deliver this address as part of the celebration of the 75th year of our Independence. I thank Dr. Panda for inviting me and more than that,
जून 29, 2022
वार्षिक सांख्यिकी दिवस सम्मेलन में उद्घाटन भाषण - शक्तिकान्त दास
It is a privilege to inaugurate the annual ‘Statistics Day Conference’ of the Reserve Bank. This annual event is taking place today in the physical mode after a gap of two years. On this day, the nation commemorates the contributions of Professor Prasanta Chandra Mahalanobis, one of the pioneers in the discipline of statistics and a true visionary. Professor C. R. Rao, a great statistician and a student of Professor Mahalanobis described him as “a physicist by trainin
श्री शक्तिकान्त दास, गवर्नर, भारतीय रिज़र्व बैंक
It is a privilege to inaugurate the annual ‘Statistics Day Conference’ of the Reserve Bank. This annual event is taking place today in the physical mode after a gap of two years. On this day, the nation commemorates the contributions of Professor Prasanta Chandra Mahalanobis, one of the pioneers in the discipline of statistics and a true visionary. Professor C. R. Rao, a great statistician and a student of Professor Mahalanobis described him as “a physicist by trainin
जून 10, 2022
सांख्यिकी और सूचना प्रबंध विभाग (डीएसआईएम) का वार्षिक सांख्यिकी सम्मेलन – गवर्नर द्वारा आरबीआई-अद्घाटन भाषण - शक्तिकान्त दास

Good morning! 2. I am delighted to be here in Guwahati, the gateway to North-Eastern India. The ‘Annual Statistics Conference - 2022’ of the Department of Statistics and Information Management (DSIM), which is being held after a hiatus1 is an important event in the calendar of activities of the RBI. The earlier conference, which was scheduled here in March 2020 was cancelled a day before it was to commence due to the onset of COVID-19 pandemic. 3. The ancient name of

श्री शक्तिकान्त दास, गवर्नर, भारतीय रिज़र्व बैंक

Good morning! 2. I am delighted to be here in Guwahati, the gateway to North-Eastern India. The ‘Annual Statistics Conference - 2022’ of the Department of Statistics and Information Management (DSIM), which is being held after a hiatus1 is an important event in the calendar of activities of the RBI. The earlier conference, which was scheduled here in March 2020 was cancelled a day before it was to commence due to the onset of COVID-19 pandemic. 3. The ancient name of

जून 09, 2022
भारतीय व्यवसाय: अतीत, वर्तमान और भविष्य - शक्तिकान्त दास

It is a great pleasure to address such an august gathering in this event organised by the Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Government of India as part of the Iconic week of Azadi ka Amrit Mahotsav celebrations. The topic I have chosen for my address today, namely, “Indian Businesses: Past, Present and Future” will resonate with the audience here. Businesses form the bedrock of an economy and on an occasion like this, it would

श्री शक्तिकान्त दास, गवर्नर, भारतीय रिज़र्व बैंक

It is a great pleasure to address such an august gathering in this event organised by the Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Government of India as part of the Iconic week of Azadi ka Amrit Mahotsav celebrations. The topic I have chosen for my address today, namely, “Indian Businesses: Past, Present and Future” will resonate with the audience here. Businesses form the bedrock of an economy and on an occasion like this, it would

नवंबर 15, 2021
दिल्ली स्कूल ऑफ इकोनॉमिक्स (डीएसई) और इंडियन स्टेटिस्टिकल इंस्टीट्यूट (आईएसआई), दिल्ली द्वारा आयोजित ब्रिक्स अर्थव्यवस्थाओं में संवृद्धि और विकास पर सम्मेलन में माइकल देवव्रत पात्रा, उप गवर्नर, भारतीय रिज़र्व बैंक द्वारा दिया गया मुख्य भाषण
BRICS: FROM ACRONYM TO GLOBAL ECONOMIC POWERHOUSE1 Professor Pami Dua, Director, Delhi School of Economics, Prof. Yogesh Singh, Vice Chancellor, University of Delhi, Prof. Sanghamitra Bandyopadhyay, Director, Indian Statistical Institute, Delhi Centre, Prof. Chetan Ghate, Indian Statistical Institute, distinguished invitees and conference participants, I am honoured to be invited to deliver the inaugural keynote address for the conference on ‘Growth and Development in
डॉ. एम. डी. पात्र, उप गवर्नर, भारतीय रिज़र्व बैंक
BRICS: FROM ACRONYM TO GLOBAL ECONOMIC POWERHOUSE1 Professor Pami Dua, Director, Delhi School of Economics, Prof. Yogesh Singh, Vice Chancellor, University of Delhi, Prof. Sanghamitra Bandyopadhyay, Director, Indian Statistical Institute, Delhi Centre, Prof. Chetan Ghate, Indian Statistical Institute, distinguished invitees and conference participants, I am honoured to be invited to deliver the inaugural keynote address for the conference on ‘Growth and Development in
सितंबर 22, 2021
कोविड के बाद: एक मजबूत, समावेशी और टिकाऊ अर्थव्यवस्था की ओर - श्री शक्तिकान्त दास, गवर्नर, भारतीय रिजर्व बैंक- द्वारा 22 सितंबर 2021, बुधवार को ऑल इंडिया मैनेजमेंट एसोसिएशन (AIMA) के 48 वें राष्ट्रीय प्रबंधन सम्मेलन में दिया गया मुख्य भाषण
I wish to thank the President and other office bearers of the All India Management Association (AIMA) for having invited me to participate in this convention. This is a national management convention and it is apt that the AIMA is organising it. In normal times and even more in times of severe stress, it is the quality and capacity of management that makes the critical difference and enables businesses to not only survive but come out stronger. I am happy to note that
श्री शक्तिकान्त दास, गवर्नर, भारतीय रिज़र्व बैंक
I wish to thank the President and other office bearers of the All India Management Association (AIMA) for having invited me to participate in this convention. This is a national management convention and it is apt that the AIMA is organising it. In normal times and even more in times of severe stress, it is the quality and capacity of management that makes the critical difference and enables businesses to not only survive but come out stronger. I am happy to note that
जनवरी 07, 2020
भारत में समावेशी विकास की ओर यात्रा - शक्तिकान्त दास
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
श्री शक्तिकान्त दास, गवर्नर, भारतीय रिज़र्व बैंक
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
जनवरी 24, 2019
सूक्ष्म ऋण और कैसे कोई लोक ऋण रजिस्ट्री इसे सुदृढ़ कर सकता है इसके संबंध में कुछ विचार - विरल वी. आचार्य
Sometimes when I sit down to write down a new set of remarks, the same old thoughts cross my mind, a bit like one’s favorite songs that are so deeply entrenched in the psyche that at the end of a long day when one is reflecting on the subject, they start playing all over again, without any reason and without any conscious decision to rewind to them. In my case, a few striking images flash across my eyes. I have tried in what follows to describe these images and what t
डॉ. विरल वी. आचार्य, उप गवर्नर, भारतीय रिज़र्व बैंक
Sometimes when I sit down to write down a new set of remarks, the same old thoughts cross my mind, a bit like one’s favorite songs that are so deeply entrenched in the psyche that at the end of a long day when one is reflecting on the subject, they start playing all over again, without any reason and without any conscious decision to rewind to them. In my case, a few striking images flash across my eyes. I have tried in what follows to describe these images and what t
अगस्त 20, 2018
लोक ऋण रजिस्ट्री और माल एवं सेवा कर नेटवर्क : भारत में ऋण को सर्वसुलभ एवं औपचारिक बनाने के लिए लंबे कदम भरना – विरल वी. आचार्य

It is a pleasure to be with you all and share with you my thoughts on some recent developments that are expected to have transformative implications for our country. In particular, I wish to draw your attention to some major initiatives in gathering and analysing better credit data that can potentially have a huge impact in creating a financially healthy India. It is a known fact that a large part of the Indian economy is informal. This year’s Economic Survey has give

डॉ. विरल वी. आचार्य, उप गवर्नर, भारतीय रिज़र्व बैंक

It is a pleasure to be with you all and share with you my thoughts on some recent developments that are expected to have transformative implications for our country. In particular, I wish to draw your attention to some major initiatives in gathering and analysing better credit data that can potentially have a huge impact in creating a financially healthy India. It is a known fact that a large part of the Indian economy is informal. This year’s Economic Survey has give

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