Speeches & Media Interactions

Edited excerpts from the interview. We are meeting at a time when suddenly the global environment is charged up with the explosion at the Aramco oil refinery. Does this disturb your view of the space that monetary policy has? Before commenting specifically on monetary policy, I would like to take a little longer to analyze various consequences and how the situation is playing out in the next few days because this incident happened just a day or two ago. So we should a

August 07, 2019 Participants from RBI: Mr. Shaktikanta Das – Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Mr. B.P. Kanungo – Deputy Governor, Reserve Bank of India Mr. Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Executive Director, Reserve Bank of India Mr. Yogesh Dayal – Chief General Manager, Reserve Bank of India Moderator: Good day, ladies and gentlemen. And welcome to the Thi

August 07, 2019 Participants from RBI: Mr. Shaktikanta Das – Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Mr. B.P. Kanungo – Deputy Governor, Reserve Bank of India Mr. Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra- Executive Director, Reserve Bank of India Shaktikanta Das: Good afternoon! I will first make the statement on Part A, that is, the matter covering the resolution of the MPC

Why are policy rate cuts not being transmitted to lending rates at banks? The cost of funds of banks is one of the factors, which impacts lending rates. Banks are gradually recovering from stress in their balance sheets due to overhang of non-performing assets (NPAs). Going forward, I don’t think NPAs will be a major impediment in transmission of the monetary policy rates. Most of the large public sector banks (PSBs) are not under prompt corrective action framework (P

Reserve Bank of India Governor Shaktikanta Das gave his first interview with media since taking office in December. Here’s an edited transcript of the topics he covered in the more than 50 minute interview. On the economic slowdown and the RBI’s response: “The accommodative stance will depend on incoming data. How inflation numbers look how the growth numbers look. Primarily how inflation looks. With regard to the slowdown, I would not give a particular timeline and i

June 06, 2019 Participants from RBI: Mr. Shaktikanta Das – Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Dr. Viral V. Acharya – Deputy Governor, Reserve Bank of India Mr. B. P. Kanungo – Deputy Governor, Reserve Bank of India Mr. Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Executive Director, Reserve Bank of India Shri Yogesh Dayal – Chief General Manager, Reserve Bank of India Mod

June 06, 2019 Participants from RBI: Mr. Shaktikanta Das – Governor, Reserve Bank of India Mr. N. S. Vishwanathan – Deputy Governor, Reserve Bank of India Dr Viral V. Acharya – Deputy Governor, Reserve Bank of India Mr. B.P. Kanungo – Deputy Governor, Reserve Bank of India Mr. Mahesh Kumar Jain – Deputy Governor, Reserve Bank of India Shaktikanta Das: Good afternoon, everyone. I will make my statement. We have already shared the MPC resolution with all of you. I will

April 04, 2019 Participants from RBI: Shri Shaktikanta Das – Governor Shri N. S. Vishwanathan – Deputy Governor Dr. Viral Acharya – Deputy Governor Shri B. P. Kanungo – Deputy Governor Shri M. K. Jain – Deputy Governor Dr. Michael D. Patra – Executive Director Mr. Rajeshwar Rao – Executive Director Mr. Jose Kattoor – Chief General Manager Moderator: Good day, ladies and gentlemen. Welcome to the First Bi-Monthly Monetary Policy Conference with Researchers and Analysts

April 04, 2019 Participants from RBI: Shri Shaktikanta Das – Governor Shri N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Shri B. P. Kanungo – Deputy Governor Shri M. K. Jain – Deputy Governor Shaktikanta Das: Good morning. At the outset, I will make the usual statement which I have. Thereafter we will take any questions or observations and will try and accommodate as many questions and observations as possible, so will proceed accordingly

February 07, 2019 Participants from RBI: Shri Shaktikanta Das – Governor Shri N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Shri B. P. Kanungo – Deputy Governor Shri M. K. Jain – Deputy GovernorDr. Michael D. Patra – Executive DirectorMr. Jose J. Kattoor – Chief General Manager Moderator: Ladies and gentlemen, good day and welcome to the Sixth Bi-Monthly Monetary Policy Conference with Researchers and Analysts. As a reminder, all particip

February 07, 2019 Participants from RBI: Shri Shaktikanta Das – Governor Shri N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Shri B. P. Kanungo – Deputy Governor Shri M. K. Jain – Deputy Governor Shri. Shaktikanta Das: Over the past two and a half days i.e., during February 5,6 and 7, 2019 the Monetary Policy Committee (MPC) reviewed the macroeconomic and financial conditions and prospects and voted by a 4/2 majority to reduce the policy r

December 05, 2018 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Mr. M. K. Jain – Deputy Governor Dr. Michael D. Patra – Executive Director Dr. Urjit R Patel: Good afternoon, everyone. Thank you for coming to the press conference for the Fifth Bi-monthly of this fiscal year. The Monetary Policy Committee evaluated current and evolving macroeconomic

October 05, 2018 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Mr. M. K. Jain – Deputy Governor Dr. Michael D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. Today, after two days of deliberations, the Monetary Policy Committee, by a 4 to 2 vote, decided to keep the policy repo rate unchanged and it decided to change the

August 01, 2018 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Mr. M. K. Jain – Deputy Governor Dr. Michael D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon everyone. Firstly, I would like to welcome Deputy Governor Mr. Jain. This will be his first post-monetary policy press conference. In its assessment of current and evolving dome

June 06, 2018 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. Over the last three days the Monetary Policy Committee carefully reviewed evolving global and domestic macroeconomic developments. We noted that global economic activity and trade has continued to expand, t

April 05, 2018 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone, for the First Post-Monetary Policy Press Conference of the new fiscal year. Over the past two days, the Monetary Policy Committee reviewed evolving global and domestic macroeconomic conditions and decided

February 7, 2018 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. Welcome to the post Bi-Monthly Meeting Press Conference. As you know, the MPC reviewed current and evolving macroeconomic and financial conditions at its meeting today and decided to keep the policy rate

December 6, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone and thank you for coming to the Fifth Bi-Monthly Policy of this Fiscal Year. As you know, today, the Monetary Policy Committee decided to keep the policy repo rate under the liquidity adjustment facility

October 4, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. The Monetary Policy Committee reviewed currently evolving macroeconomic and financial conditions and decided to keep the policy rate unchanged at 6%, while maintaining a neutral monetary policy stance. Th

August 2, 2017 Participants from RBI: Dr. Urjit R. Patel – Governor Mr. N. S. Vishwanathan – Deputy Governor Dr. Viral V. Acharya – Deputy Governor Mr. B. P. Kanungo – Deputy Governor Dr. M. D. Patra – Executive Director Dr. Urjit R. Patel: Good afternoon, everyone. The Monetary Policy Committee took note of an important change in the base line inflation trajectory with respect to the June 2017 statement. This trajectory now incorporates the first-round impact of the