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ಮಾರ್ಚ್ 18, 2023

Inaugural Address by Shri Shaktikanta Das, Governor, Reserve Bank of India at the Payment System Operators (PSO) Conference, Kochi, March 18, 2023

Shri Shaktikanta Das, Governor, Reserve Bank of India

I am delighted to be here at the first Payment System Operators’ (PSO) Conference being organised by the Department of Payment & Settlement Systems (DPSS) of the RBI. It is indeed a matter of pride that the Indian payment systems have been globally recognised as best-in-class and future ready. It is the combined effort of all the PSOs, the Government and the Reserve Bank that has made India a shining star in global payments space. The Reserve Bank acknowledges the

ಮಾರ್ಚ್ 06, 2023

Address by Governor, Shri Shaktikanta Das, Reserve Bank of India - March 06, 2023 - Digital Payments Awareness Week (March 6-12, 2023) Launch of Mission ‘Har Payment Digital’, Mumbai

Shri Shaktikanta Das, Governor, Reserve Bank of India

1. The Launching of Mission ‘Har Payment Digital’ today during the Digital Payments Awareness Week (DPAW) 2023 reinforces RBI’s commitment to deepen digital payments in the country. 2. I am happy to note that the Department of Payment and Settlement Systems (DPSS) of the RBI is celebrating its 18th anniversary (it was formed on March 7, 2005). Congratulations to team DPSS on this milestone. Over the years our payment systems have evolved and now we have multiple syste

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ಜೂನ್ 17, 2022

Disruptions & Opportunities in the Financial Sector - Address by Shri Shaktikanta Das, Governor, Reserve Bank of India - June 17, 2022 - Delivered at the Financial Express Modern BFSI Summit in Mumbai

Shri Shaktikanta Das, Governor, Reserve Bank of India

It is my pleasure to be here amongst such a distinguished gathering to deliver the inaugural address at the Financial Express Modern BFSI Summit. The theme of my address “Disruptions & Opportunities in the Financial Sector’ will resonate in the current context of technological innovations and fast evolving business models in the financial sector. 2. The impact of Covid-19 pandemic, the recent geo-political crisis and the all-pervasive technological innovations swe

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ಮಾರ್ಚ್ 24, 2022

Inauguration of the Reserve Bank Innovation Hub (RBIH) - Inaugural Address delivered by Shri Shaktikanta Das, Governor, Reserve Bank of India at the Reserve Bank Innovation Hub - March 24, 2022, Bengaluru

Shri Shaktikanta Das, Governor, Reserve Bank of India

Central Banks are often viewed as traditional institutions that set monetary policies, issue currencies and regulate and supervise the financial sector segments and entities. For every economy to grow steadily and efficiently, this characteristic of a central bank is very important. Being a full service central bank, the RBI also plays a developmental role and is looked upon as a residual regulator as well. 2. RBI has been able to perform its varied roles with require

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ಫೆಬ್ರವರಿ 14, 2022

Cryptocurrencies – An assessment - Keynote address delivered by Shri T Rabi Sankar, Deputy Governor, Reserve Bank of India - February 14th, 2022 - at the Indian Banks Association 17th Annual Banking Technology Conference and Awards

Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India

Shri Goel, Chairman IBA, Shri Mehta, Chief Executive IBA, Prof Phatak, Chairman of Awards Jury, members of the Jury, MDs and CEOs and other senior functionaries of banks, ladies and gentlemen Let me begin by congratulating the winners of the IBA Banking Technology Awards. It is indeed a privilege to be among so august an audience and so learned a gathering and be able to talk about an issue of momentous significance – how to deal with cryptocurrencies. Crypto technolo

ಸೆಪ್ಟೆಂ 28, 2021

Responsible Digital Innovation

Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India

Good morning. 1. Fintech, or technology that provides digital financial services is transforming the provision and delivery of financial services. At its most basic level digital technology enables speed – speed in processing information and speed in communication. Processing speed has reduced cost and time for transactions while communication speed has enhanced connectivity of systems expanding the reach of transactions. Taken together, digital technology is changing

ಮಾರ್ಚ್ 25, 2021

Financial Sector in the New Decade

Shri Shaktikanta Das, Governor, Reserve Bank of India

A very warm good morning to you all. It is indeed an honour for me to be here at the India Economic Conclave 2021 organised by the Times Network. I have been looking forward to participating in this year’s conclave, especially after an enriching experience during my participation in this event in 2019. The theme of this year's conclave, one which resonates very strongly is "India's Decade: Reform. Perform. Transform.” The COVID-19 pandemic has set forth the wheels of

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ಮಾರ್ಚ್ 25, 2019

Opportunities and Challenges of FinTech

Shri Shaktikanta Das, Governor, Reserve Bank of India

I am extremely happy to participate in NITI Aayog’s FinTech Conclave 2019 and share my thoughts on the technological revolution that is shaping the future of finance. I am particularly thankful to Shri Amitabh Kant, CEO of NITI Aayog for having invited me to such an august gathering. As I understand, this Conclave is woven around the theme of Indian FinTech ecosystem as well as steps required to help achieve the potential that the sector offers towards growth, employm

ಆಗ 17, 2018

Innovation in Retail Payments

Dr. Urjit R. Patel, Governor, Reserve Bank of India

1. Shri Mahapatra, Chairman, National Payments Corporation of India (NPCI), Shri Nandan Nilekani, Shri Dilip Asbe, Managing Director (MD) and Chief Executive Officer (CEO), NPCI, bankers and distinguished guests, it gives me immense pleasure to be in your midst as we launch a new, enhanced version of the Unified Payments Interface (UPI). I was especially moved by Nandan’s kind words for the RBI’s contribution in recent years in the area of digital payments. It would be remiss of us if we don’t acknowledge the strong foundations laid down by those who preceded us; it is, in part, because of their work that we have been able to make rapid progress.

2. Payment and Settlement Systems are at the heart of a modern economy. Recognising this, the Reserve Bank has been, over the years, initiating measures that have resulted in the payment systems in India gaining international recognition. In introducing: (i) second factor authentication; (ii) a unified payments structure; and (iii) the Bharat Quick Response

ಮೇ 30, 2018

Excellence in Payments

Shri B. P. Kanungo, Deputy Governor, Reserve Bank of India

Shri B. Mahapatra, Chairman, NPCI, Shri Dilip Asbe, MD, NPCI, distinguished guests, fellow bankers, captains of the industry and the Honourable members of the Jury – it gives me great pleasure to be amidst you all as NPCI today recognises the significant work done by the innovators in payment systems of the country. Let me begin with a quote by Robin Sharma, the motivational speaker, who says ‘Small daily improvements over time lead to stunning results’. No one can di

ಜುಲೈ 19, 2016

Information Technology – New Gauntlets for Banks (Shri R. Gandhi, Deputy Governor - July 18, 2016 - at the 12th IDRBT Banking Technology Excellence Awards, Hyderabad)

Shri R. Gandhi, Deputy Governor, Reserve Bank of India

Honourable Governor Dr Raghuram Rajan, members of the Governing Council of IDRBT, Chiefs of banks, Heads of IT departments of banks, Director, IDRBT, Faculty members, students, Ladies and Gentlemen. It gives me great pleasure to be present at the 12th IDRBT Banking Technology Awards. 2. I am glad to be back to be directly dealing with the subject of technology yet another time. I have the unique honour of having been and being associated with IDRBT in every possible r

ಫೆಬ್ರವರಿ 13, 2014

Inclusive Growth and the Role Technology Can Play in It

Dr. Raghuram G. Rajan, Governor, Reserve Bank of India

Thank you for inviting me to speak here today. Shri D.R. Gadgil is well known not only as an economist but also as a great educationist and a statesman, having served as a member of Rajya Sabha. We all know of the great contribution he made towards the distribution of plan transfers amongst the Indian states through the famous ‘Gadgil Formula’. The Gadgil formula attempted to ensure that there was objectivity in distribution of funds amongst the states in India. He wr

ನವೆಂ 26, 2012

Financial Inclusion and Payment Systems: Recent Trends, Current Challenges and Emerging Issues

Shri Harun R Khan, Deputy Governor, Reserve Bank of India

Presentation Shri. Narendra Singh, CMD, Bank of Maharashtra, Shri. K R Kamath, CMD, Punjab National Bank & Chairman, Indian Banks’ Association, Shri Raghuvir Singh, Executive Director, Bank of Maharashtra and Chairmen-Managing Directors & Executive Directors of banks, distinguished delegates, ladies and gentlemen. It is indeed a pleasure to be here in BANCON 2012 organised by the Indian Banks’ Association. I am especially happy to share my thoughts on financia

ನವೆಂ 26, 2011

Payment System Issues and Challenges

Shri G Padmanabhan, Executive Director, Reserve Bank of India

Mr V.P.Iswardas, Managing Director & CEO, Catholic Syrian Bank (CSB), Mr Nandakumar, President, Thrissur Management Association, Mr Anantharaman and Mr Bobby Jose, Board members present here, other office bearers of the Thrissur Management Association, ladies and gentlemen. I deem it a privilege to be invited to speak on this important day in the bank's history. It is a matter of pride to each one of you that the bank which had a modest beginning in November, 1920

ನವೆಂ 14, 2011

Financial Inclusion and Financial Stability : Are they two sides of the same coin?

Shri Harun R Khan, Deputy Governor, Reserve Bank of India

Presentation 1. It is always a pleasure to be a part of such a confluence of bankers and researchers on contemporary issues in banking and finance but to choose to speak on an area which needs to be either ‘wholesomely new’ or ‘extensively revised’ at such a forum becomes a challenge. I thank the organizers, the CMD of Indian Overseas Bank and the Chairman of IBA for offering me this opportunity to share my own thoughts on a topical issue that has engaged attention of

ನವೆಂ 11, 2011

Convergence of Mobile Banking, Financial Inclusion and Consumer Protection-Trend

Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India

Ms Ursula Menke, Commissioner , Financial Consumer Agency of Canada and Chair of the International Financial Consumer Protection Network (FinCoNet), distinguished participants, ladies and gentlemen. I thank the FinCoNet for including a special session on Financial Inclusion, Mobile Banking and Consumer Protection in today's agenda and inviting me to share the Indian perspective. Further, given the extent of financial exclusion that prevails in India where out of the 6

ಸೆಪ್ಟೆಂ 03, 2010

Technology in Banking : An Instrument for Economic Growth

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

ಜೂನ್ 18, 2010

Harnessing Technology to Bank the Unbanked

Dr. D. Subbarao, Governor, Reserve Bank of India

It is always a delight to be here in this wonderful city of Hyderabad. The location of IDRBT in Hyderabad is not an accident; it is a reflection of the growing reputation of Hyderabad as a premiere location for IT industry. Hailing as I do from this state, I know that we came from behind; twenty five years ago, there were several other cities ahead of Hyderabad on the technology scene; today, we are among the front runners. This remarkable reinvention of Hyderabad as

ಮಾರ್ಚ್ 28, 2008

Innovation and Growth: Role of the Financial Sector

Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India

‘Accelerating productivity growth entails a matching acceleration in the potential output of goods and services and a corresponding rise in the real incomes available to purchase the new output. The problem is that the pickup in productivity tends to create even greater increases in aggregate demand than potential aggregate supply’—Alan Greenspan‘Whatever the supply side may have in store, delivering low and stable inflation—and being expected to do so—is how monetary

ನವೆಂ 04, 2006

Financial Inclusion for Sustainable Development : Role of IT and Intermediaries

Smt. Usha Thorat, Deputy Governor, Reserve Bank of India

My topic today is financial inclusion for sustainable development and how IT and community based organisations including NGOs can be leveraged for expanding banking outreach so as to meet the needs of the underserved population. Financial inclusion has become a buzzword internationally – even in developed financial markets there are concerns about those excluded from the banking system especially migrant workers. The barriers to access to formal banking system have be