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अक्‍तूबर 03, 2001
Autonomy of the Central Bank : Changing Contours in India
Dear Dr. Saxena, distinguished faculty, respected visitors, and young friends, I am grateful to the organisers for giving me this opportunity to be here with you today to deliver the Second Foundation Day Lecture. The IIM, Indore has acquired a great standing and high stature within a short span of four years and the entire credit should go to the support rendered by all, and in particular, the devotion and dedication displayed by the faculty and students to academic
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Dear Dr. Saxena, distinguished faculty, respected visitors, and young friends, I am grateful to the organisers for giving me this opportunity to be here with you today to deliver the Second Foundation Day Lecture. The IIM, Indore has acquired a great standing and high stature within a short span of four years and the entire credit should go to the support rendered by all, and in particular, the devotion and dedication displayed by the faculty and students to academic
सितंबर 22, 2001
Primary Dealers, Debt Markets and State Finances : Challenges and Responses
Mr. Joshi and friends, I am happy to be amidst you in the third of the annual Seminars organised by the Primary Dealers’ Association of India (PDAI). I wish to place on record the valuable contribution of the PDAI not only in regard to Government Securities market, but also in the consultative process in policy making in important areas in financial markets. My presence here today is a reinforcement of our collaborative efforts to enhance efficiency and assure soundne
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Joshi and friends, I am happy to be amidst you in the third of the annual Seminars organised by the Primary Dealers’ Association of India (PDAI). I wish to place on record the valuable contribution of the PDAI not only in regard to Government Securities market, but also in the consultative process in policy making in important areas in financial markets. My presence here today is a reinforcement of our collaborative efforts to enhance efficiency and assure soundne
सितंबर 12, 2001
Indian Insurance : At The Crossroads
I am grateful to the New India Assurance Company Limited for inviting me to this special function organised on the occasion of launching a new financial product for credit insurance by the Honourable Union Minister of Finance. It is fitting that New India Assurance, the first insurer fully set up by Indians in 1919 and the country's largest non-life insurer today should lead the way in product innovation. All of us present here are thankful to the Honourable Finance M
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India
I am grateful to the New India Assurance Company Limited for inviting me to this special function organised on the occasion of launching a new financial product for credit insurance by the Honourable Union Minister of Finance. It is fitting that New India Assurance, the first insurer fully set up by Indians in 1919 and the country's largest non-life insurer today should lead the way in product innovation. All of us present here are thankful to the Honourable Finance M
सितंबर 05, 2001
Reviving Confidence in the Indian Economy
Respected Vice-Chancellor, Professor Rama Rao, distinguished academics and friends, At the outset, I would like to express my grateful thanks to Professor Rama Rao garu for giving me the privilege and honour of delivering the first Dr. S. Radhakrishnan Memorial Lecture sponsored by the University Grants Commission and being organised by the University of Hyderabad on the occasion of the Teachers’ Days this year. So much has been written and said about Dr. Sarvepalli R
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Respected Vice-Chancellor, Professor Rama Rao, distinguished academics and friends, At the outset, I would like to express my grateful thanks to Professor Rama Rao garu for giving me the privilege and honour of delivering the first Dr. S. Radhakrishnan Memorial Lecture sponsored by the University Grants Commission and being organised by the University of Hyderabad on the occasion of the Teachers’ Days this year. So much has been written and said about Dr. Sarvepalli R
अगस्त 28, 2001
Communication Policy of the Reserve Bank of India
Mr. Green, Mr. Weetman, Mr. New and friends, I am thankful to the organisers and in particular Mr. New for giving me the honour of participating in the 150th anniversary celebrations of the Reuters Group. In all innocence, I accepted the invitation only soon to realise that there is no free lunch or free dinner in this world. I am assigned the task of inaugurating the evening and addressing the guests on this occasion. I pleaded for some draft from Reuters, though inf
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Green, Mr. Weetman, Mr. New and friends, I am thankful to the organisers and in particular Mr. New for giving me the honour of participating in the 150th anniversary celebrations of the Reuters Group. In all innocence, I accepted the invitation only soon to realise that there is no free lunch or free dinner in this world. I am assigned the task of inaugurating the evening and addressing the guests on this occasion. I pleaded for some draft from Reuters, though inf
जुलाई 20, 2001
Credit through Co-Operatives : Some Thoughts
Let me at the outset thank the Chairman and other Executives of the National Co-operative Agricultural & Rural Development Banks’ Federation Ltd. for having invited me here today. The Federation has played a very important role in providing the members a forum for joint consultations and inputs for policy formulation since its inception in 1960. It has also been instrumental in facilitating a series of initiatives for beefing up the co-operative structure by bring
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India
Let me at the outset thank the Chairman and other Executives of the National Co-operative Agricultural & Rural Development Banks’ Federation Ltd. for having invited me here today. The Federation has played a very important role in providing the members a forum for joint consultations and inputs for policy formulation since its inception in 1960. It has also been instrumental in facilitating a series of initiatives for beefing up the co-operative structure by bring
जुलाई 17, 2001
Fiscal Transparency and Beyond
Mr. Chairman and friends, It has always been an extremely productive venture for me to visit Indian Merchants Chamber and interact with the gathering. The subject chosen today has special relevance at this juncture for several reasons. The Reserve Bank of India (RBI) has released a Report on Fiscal Transparency a few weeks ago and it is necessary to view it and debate it in the context of fiscal challenges and their linkages with monetary policy. The Fiscal Responsibi
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman and friends, It has always been an extremely productive venture for me to visit Indian Merchants Chamber and interact with the gathering. The subject chosen today has special relevance at this juncture for several reasons. The Reserve Bank of India (RBI) has released a Report on Fiscal Transparency a few weeks ago and it is necessary to view it and debate it in the context of fiscal challenges and their linkages with monetary policy. The Fiscal Responsibi
जून 29, 2001
Issues in Implementing International Financial Standards and Codes
Governor Jayawardena, Deputy Governor Wijewardena and friends, It gives me great pleasure to deliver this public lecture at the Centre for Banking Studies (CBS) of the Central Bank of Sri Lanka. It gives me greater pleasure to share the podium with Governor Jayawardena whom I greatly admire for his intellect, acumen and outstanding statesmanship. The last time I shared the same forum with him was at the Second South Asia Forex Dealers’ Association Conference at Hydera
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Governor Jayawardena, Deputy Governor Wijewardena and friends, It gives me great pleasure to deliver this public lecture at the Centre for Banking Studies (CBS) of the Central Bank of Sri Lanka. It gives me greater pleasure to share the podium with Governor Jayawardena whom I greatly admire for his intellect, acumen and outstanding statesmanship. The last time I shared the same forum with him was at the Second South Asia Forex Dealers’ Association Conference at Hydera
मई 22, 2001
Issues in Choosing Between Single and Multiple Regulators of Financial System
Respected Chairman, Dr. Patel, Dr. Isher Ahluwalia and distinguished participants. I am here in fulfillment of a promise made to Mrs.Isher Ahluwalia some time back to make a presentation at this prestigious institute. Needless to say it is a privilege to be here; and I am thankful to the organizers for giving me freedom to choose the subject of the day. My fascination for this subject is only about four yours old. Dr. Rangarajan, the then Governor deputed me to attend
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Respected Chairman, Dr. Patel, Dr. Isher Ahluwalia and distinguished participants. I am here in fulfillment of a promise made to Mrs.Isher Ahluwalia some time back to make a presentation at this prestigious institute. Needless to say it is a privilege to be here; and I am thankful to the organizers for giving me freedom to choose the subject of the day. My fascination for this subject is only about four yours old. Dr. Rangarajan, the then Governor deputed me to attend
मई 19, 2001
Globalisation and Challenges for South Asia
Mr. Chairman and friends, At the outset, I would like to pay homage to the memory of late Bishweshwar Prasad Koirala who dedicated his life to the cause of democracy, liberty, social justice and human rights. His distinguished contemporaries respectfully but affectionately described him as 'BP' and as Mr. P.V. Narasimha Rao, one of our Prime Ministers mentioned : 'BP belonged, in the truest sense, to both our peoples of India as well as of Nepal'. Another Prime Minist
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman and friends, At the outset, I would like to pay homage to the memory of late Bishweshwar Prasad Koirala who dedicated his life to the cause of democracy, liberty, social justice and human rights. His distinguished contemporaries respectfully but affectionately described him as 'BP' and as Mr. P.V. Narasimha Rao, one of our Prime Ministers mentioned : 'BP belonged, in the truest sense, to both our peoples of India as well as of Nepal'. Another Prime Minist
मई 10, 2001
शहरी सहकारी बैंक भावी सुधारों के लिए कार्यसूची *
शहरी सहकारी बैंक भावी सुधारों के लिए कार्यसूची * चूंकि शहरी सहकारी बैंक वित्तीय प्रणाली का अटूट हिस्सा होते हैं, रिज़र्व बैंक ने इनमें कई सुधार किये हैं। हाल ही की माधव राव समिति, जिसे शहरी सहकारी बैंकों पर उच्चाधिकार प्राप्त समिति भी कहा जाता है, ने शहरी सहकारी बैंकों को लाइसेंसिंग नीति, कमजोर और गैर-लाइसेंस प्राप्त बैंकों के भावी ढांचे, पूंजी पर्याप्तता मानदंडों का अनुप्रयोग, शहरी सहकारी बैंकों के दोहरे नियंत्रण से उभरने वाले विवादों का निपटारा आदि से संबंधित कतिपय
श्री जगदीश कपूर, उप गवर्नर, भारतीय रिज़र्व बैंक
शहरी सहकारी बैंक भावी सुधारों के लिए कार्यसूची * चूंकि शहरी सहकारी बैंक वित्तीय प्रणाली का अटूट हिस्सा होते हैं, रिज़र्व बैंक ने इनमें कई सुधार किये हैं। हाल ही की माधव राव समिति, जिसे शहरी सहकारी बैंकों पर उच्चाधिकार प्राप्त समिति भी कहा जाता है, ने शहरी सहकारी बैंकों को लाइसेंसिंग नीति, कमजोर और गैर-लाइसेंस प्राप्त बैंकों के भावी ढांचे, पूंजी पर्याप्तता मानदंडों का अनुप्रयोग, शहरी सहकारी बैंकों के दोहरे नियंत्रण से उभरने वाले विवादों का निपटारा आदि से संबंधित कतिपय
अप्रैल 27, 2001
Indian Agriculture and Reform : Concerns, Issues and Agenda
Professor Parthasarathy garu, Vice Chancellor Radhakrishna, Prof Sathyanarayana and friends. I am honoured by the fact that you have invited me to deliver the Presidential address. When the organisers first spoke to me about this lecture, I humbly submitted to Professor Parthasarathy that, in the past, many eminent personalities like Governor, Dr. Rangarajan, Professor G.S. Bhalla, Professor Vyas, Dr. K. Subba Rao and Professor Radhakrishna had delivered this address
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Professor Parthasarathy garu, Vice Chancellor Radhakrishna, Prof Sathyanarayana and friends. I am honoured by the fact that you have invited me to deliver the Presidential address. When the organisers first spoke to me about this lecture, I humbly submitted to Professor Parthasarathy that, in the past, many eminent personalities like Governor, Dr. Rangarajan, Professor G.S. Bhalla, Professor Vyas, Dr. K. Subba Rao and Professor Radhakrishna had delivered this address
अप्रैल 24, 2001
Developments in Monetary Policy and Financial Markets
I am thankful to the organisers for their perseverance in getting me to Chennai. I am using this opportunity to share with you some explanations on the Monetary and Credit Policy for 2001-02 announced last week. This is the fifth Annual Policy of Reserve Bank of India (RBI) that I have been associated with, and soon after every one of the fine statements, I had publicly articulated some explanations. The purpose has generally been to highlight elements of continuity,
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
I am thankful to the organisers for their perseverance in getting me to Chennai. I am using this opportunity to share with you some explanations on the Monetary and Credit Policy for 2001-02 announced last week. This is the fifth Annual Policy of Reserve Bank of India (RBI) that I have been associated with, and soon after every one of the fine statements, I had publicly articulated some explanations. The purpose has generally been to highlight elements of continuity,
मार्च 19, 2001
Financial Sector Reforms : An Update
Mr. Kohli, Mr. Krishnamurthy and friends, I am happy to be here again in this gathering of friends in the banking community on the occasion of the annual general meeting of the Indian Banks’ Association and Bankers’ Sports Board. I feel that it is more an occasion to conduct focussed business and celebrate rather than one to deliberate on policy issues. Yet as per tradition, I believe that there has to be an address by the chief guest. As a central banker, one always
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Kohli, Mr. Krishnamurthy and friends, I am happy to be here again in this gathering of friends in the banking community on the occasion of the annual general meeting of the Indian Banks’ Association and Bankers’ Sports Board. I feel that it is more an occasion to conduct focussed business and celebrate rather than one to deliberate on policy issues. Yet as per tradition, I believe that there has to be an address by the chief guest. As a central banker, one always
मार्च 15, 2001
Implementation of Financial Standards and Codes: Indian Perspective and Approach
In this paper it is proposed to describe the Indian perspective and approach in regard to the implementation of international financial standards and codes advocated by the Financial Stability Forum(FSF). The Indian efforts in this direction also seek to complement and support the ongoing initiatives of the G-20 aimed at encouraging implementation of standards and codes among member countries.The paper is schematized as follows. Section I explains India’s stand on glo
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
In this paper it is proposed to describe the Indian perspective and approach in regard to the implementation of international financial standards and codes advocated by the Financial Stability Forum(FSF). The Indian efforts in this direction also seek to complement and support the ongoing initiatives of the G-20 aimed at encouraging implementation of standards and codes among member countries.The paper is schematized as follows. Section I explains India’s stand on glo
फ़रवरी 14, 2001
Developmental Issues in Micro Credit
ByJagdish Capoor Deputy Governor, Reserve Bank of IndiaAt Reserve Bank of India, we are keenly interested in purveyance of credit to all those who need it, more for the small borrowers and the poorest of the poor the most. Micro Credit, therefore, has been a thrust area with us though the vehicles of credit extension have been under constant evolution over a period of time. Without a supportive regulatory environment, a continuum of institutions providing micro financ
Shri Jagdish Capoor, Deputy Governor, Reserve Bank of India
ByJagdish Capoor Deputy Governor, Reserve Bank of IndiaAt Reserve Bank of India, we are keenly interested in purveyance of credit to all those who need it, more for the small borrowers and the poorest of the poor the most. Micro Credit, therefore, has been a thrust area with us though the vehicles of credit extension have been under constant evolution over a period of time. Without a supportive regulatory environment, a continuum of institutions providing micro financ
फ़रवरी 09, 2001
Central Banking in the New Millennium*
Mr. Chairman Kohli, Mr. Narang and friends. I am happy to be here among bank economists to deliver the customary valedictory address of the Bank Economists Conference. I find that the subject chosen for this year is very broad and relates to the whole of the banking sector. I carefully read the papers presented at the Conference and I find the coverage to be comprehensive and analysis insightful as usual. The current year's Conference also had the benefit of special p
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman Kohli, Mr. Narang and friends. I am happy to be here among bank economists to deliver the customary valedictory address of the Bank Economists Conference. I find that the subject chosen for this year is very broad and relates to the whole of the banking sector. I carefully read the papers presented at the Conference and I find the coverage to be comprehensive and analysis insightful as usual. The current year's Conference also had the benefit of special p
जनवरी 16, 2001
वित्तीय स्थिरता और बैंकों की भूमिका
वित्तीय स्थिरता और बैंकों की भूमिकाएक सुदृढ़ और दक्ष वित्तीय प्रणाली बाजार-संचालित, उत्पादक और प्रतिस्पर्धी अर्थव्यवस्था के निर्माण के उद्देश्य को प्राप्त करने के लिए महत्त्वपूर्ण है। अत: वित्तीय स्थिरता के लिए स्वस्थ वित्तीय संस्थाओं, विशेषकर, बैंकों का संवर्धन एक महत्त्वपूर्ण पूर्व-शर्त है। यह देखा गया है कि औद्योगिक देशों में अथवा उभरती हुई बाजारी अर्थव्यवस्था में अभी भी संकटों के सर्वाधिक अवसर आते हैं। इसका कारण है अच्छे समय में समग्र तुलनपत्रों में अत्यधिक विस्ता
श्री एस पी तलवार, उप गवर्नर, भारतीय रिज़र्व बैंक
वित्तीय स्थिरता और बैंकों की भूमिकाएक सुदृढ़ और दक्ष वित्तीय प्रणाली बाजार-संचालित, उत्पादक और प्रतिस्पर्धी अर्थव्यवस्था के निर्माण के उद्देश्य को प्राप्त करने के लिए महत्त्वपूर्ण है। अत: वित्तीय स्थिरता के लिए स्वस्थ वित्तीय संस्थाओं, विशेषकर, बैंकों का संवर्धन एक महत्त्वपूर्ण पूर्व-शर्त है। यह देखा गया है कि औद्योगिक देशों में अथवा उभरती हुई बाजारी अर्थव्यवस्था में अभी भी संकटों के सर्वाधिक अवसर आते हैं। इसका कारण है अच्छे समय में समग्र तुलनपत्रों में अत्यधिक विस्ता
जनवरी 15, 2001
Banking and Finance in the New Millennium.
This is the first Bank Economists’ Conference in the new millennium, and the subject that you have chosen for this important conference "Indian Banking in the New Millennium" will set the tone and pace of development in the banking and financial sector for the future.2. India’s banking system has several outstanding achievements to its credit, the most striking of which is its reach. An extensive banking network has been established in the last thirty years, and India
Dr. Bimal Jalan, Governor, Reserve Bank of India
This is the first Bank Economists’ Conference in the new millennium, and the subject that you have chosen for this important conference "Indian Banking in the New Millennium" will set the tone and pace of development in the banking and financial sector for the future.2. India’s banking system has several outstanding achievements to its credit, the most striking of which is its reach. An extensive banking network has been established in the last thirty years, and India
जनवरी 15, 2001
"India’s Economy in the Twenty-First Century: A New Beginning or A False Dawn"
I am grateful to Dr. Kapila Vatsayayan and Shri N.N. Vohra for inviting me to deliver the Dr. C.D.Deshmukh Memorial Lecture today. This annual Lecture in memory of one of India’s most distinguished thinkers and policy makers is a highly prestigious occasion, and one of the highlights of the India International Centre (IIC) calendar of events. When I was first asked, I must confess that I was reluctant as I was not sure whether matters which dominate my professional li
Dr. Bimal Jalan, Governor, Reserve Bank of India
I am grateful to Dr. Kapila Vatsayayan and Shri N.N. Vohra for inviting me to deliver the Dr. C.D.Deshmukh Memorial Lecture today. This annual Lecture in memory of one of India’s most distinguished thinkers and policy makers is a highly prestigious occasion, and one of the highlights of the India International Centre (IIC) calendar of events. When I was first asked, I must confess that I was reluctant as I was not sure whether matters which dominate my professional li

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