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നവം 25, 2008

Contemporary International and Domestic Banking Developments and the Emerging Challenges

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

Dear Friends, I am delighted to be here this evening at the meeting of the Bankers’ Club, Kolkata, which, I understand, is in the process of reactivating itself to provide a vibrant professional platform to the bankers for an ongoing exchange of views on the areas of functional and contemporary relevance to the banking community. I am grateful to the organisers for affording me this opportunity to be with this august audience and to share some my thoughts on the very

സെപ്റ്റം 12, 2008

Financial Inclusion and Information Technology

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

It is indeed very heartening to be here at this WIPRO-NDTV Convergence Conference on ‘Vision 2020 - Indian Financial Services Sector’. I thank the organizers for inviting me here today. Introduction 2. The banking system has grown enormously in the last five years keeping pace with and in some cases leading the country’s remarkable economic growth. Simultaneously, the banking system has improved its strength, efficiency and resilience. There have also been significant

ഓഗ 04, 2008

The Indian Banking Industry – A Retrospect of Select Aspects

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

Dear Friends, It is my pleasure to be here on the occasion of the birth centenary celebrations of late Shri M. Ct. M. Chidambaram Chettyar. I am thankful to the organisers for affording me this opportunity to share some of my thoughts with this august audience. As you all know, Shri Chettyar was the visionary founder of the Indian Overseas Bank. He established the bank in the pre-independence era in the February 1937, when the banking industry in the country was indee

ഓഗ 01, 2008

Payment and Settlement System in India

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

Dear Friends, It is my pleasure to be here with you this afternoon at this important conclave, which seeks to articulate the vision of Indian banking in 2010. I am thankful to the organisers for affording me this opportunity to be here today and share some of my thoughts with this august audience. The Indian banking system has come a long way, particularly during the last couple of decades and continues to evolve in a myriad of ways. While, no doubt, the future contou

ജൂൺ 19, 2008

Fiscal Policy and Economic Reforms

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Respected Professor Govinda Rao and distinguished scholars, I am honoured by my friend, Prof. Govinda Rao’s, kind invitation to me to visit the National Institute of Public Finance and Policy (NIPFP). I had the opportunity of working very closely with the NIPFP on several occasions. Apart from my personal affinity to the NIPFP, there is a close relationship between the Reserve Bank of India (RBI) and the NIPFP, from an institutional point of view also. For instance, P

ജൂൺ 02, 2008

Inclusive financial system for the aged

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

Changing Contours of Indian Population India, the seventh largest country in size, continues to occupy the second largest populated country after China. The aged population in India (i.e. over 60 years) that stood at 84.7 million (7.5 per cent) in 2005 is expected to rise to 141 million (10.2 per cent) by 2020 and thereafter reach 194 million (13 per cent) in 2030. Even though income levels are going up and poverty declining, it can be reasonably expected that a signi

ഏപ്രി 16, 2008

India : The Global Partner

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Dean Coatsworth, Professor Bhagwati, Professor Radon, students, faculty and alumni of Columbia University, and members of the wider New York City Community. I am grateful to President Bollinger for extending me an invitation to participate in the prestigious World Leaders Forum at the Low Memorial Library. Distinguished past speakers at the Forum include, I am informed, President Clinton, President Putin, The Dalai Lama and Noble laureate Joseph Stiglitz. I am greatly

ജനു 27, 2008

Financial Markets in India Recent Developments and Challenges

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

Shyamala Gopinath It gives me great pleasure to be with you today at the 9th Annual Conference of Fixed Income Money Market and Derivatives Association (FIMMDA) jointly organised with the Primary Dealers Association of India (PDAI). FIMMDA and PDAI have an important role to play in the development of our debt markets. I am happy to say, these industry bodies have been providing valuable inputs to us, in the Reserve Bank of India in our endeavour to develop our markets

ഡിസം 04, 2007

India's Financial Sector Reforms: Fostering Growth While Containing Risk

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

I am honoured to be back at Yale where I got my basic economics grounding from James Tobin, Bill Nordhaus, and Robert Evenson, among others. In all these years, this is my first lecture at Yale, so I am particularly pleased to have this opportunity. Thank you Professor Srinivasan. The turmoil in international financial markets since late July this year and the increased uncertainty that financial markets are currently experiencing have brought issues relating to finan

നവം 26, 2007

The Evolution of Banking Regulation in India – A Retrospect on Some Aspects

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

It is my pleasure to be here with you this afternoon on the occasion of the Bankers’ Conference, which has become a landmark annual event in the Indian banking industry. I am indeed grateful to the organisers for their kind invitation, which provided me an opportunity to share my thoughts on the evolutionary path of the banking regulation in India over the past several decades. The topic, to my mind, appears particularly relevant today when India has completed 60 year

നവം 26, 2007

The growing importance of emerging economies in the globalised world and its implications for the international financial architecture

Jean-Claude Trichet, President of the European Central Bank

I. Introduction II. The growing importance of the emerging markets in the global economy III. Implications for the international financial architecture IV Concluding remarks I. IntroductionLadies and gentlemen,It is a great honour for me to give this lecture to pay tribute to the memory of the late Shri Lakshmi Kant Jha.L.K. Jha was a man of many talents: a distinguished administrator, a diplomat and an eminent economist. He was the first Chairman of the General Agree

നവം 13, 2007

Financial Sector Policies for growth and employment

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Respected Soedradjad Djiwandono, Governor Abdullah, fellow Governors and distinguished participants,I am thankful to Governor Burhanuddin Abdullah for inviting me to participate in the Annual International Seminar 2007. We deeply appreciate the excellent arrangements, warmth and hospitality of Bank Indonesia. In particular, special thanks are due to Deputy Governor, Ms. Miranda Goeltom. I also sincerely appreciate the thoughtful selection of the topics for discussion

ഒക്ടോ 24, 2007

Customer Centricity and the Reserve Bank

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

Mr. Daniel, Professor King, Mr. Kapfer, Mr. Burt, ladies and gentlemen, I am delighted to be here this morning at the first session of the seminar on the theme of “Balancing Cost, Profitability and Customer Experience” organised by the Asian Banker under its annual event ‘The Excellence in Retail Financial services, South Asia’. I am glad to be able to share my thoughts on this very topical subject of the cost-benefit analysis of the customer experience in the banking

സെപ്റ്റം 15, 2007

Basel II and Credit Risk Management

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

Mr. Gordy, Mr. Bhattacharya, distinguished participants, ladies and gentlemen, I am delighted to be with you this morning at the inaugural of the third programme in the series being organised under the aegis of the Centre for Advanced Financial Leaning (CAFL) on the theme of Basel II and Credit Risk Management. I am indeed thankful to the organisers for providing me this valuable opportunity to share my thoughts on this very topical subject with this august audience –

സെപ്റ്റം 13, 2007

India’s Preparedness for Basel II Implementation

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

Dear Friends, It is my pleasure and privilege to be here with you this morning and to be sharing my experience and views with this august audience regarding India’s preparedness for Basel II implementation. I am very thankful to the organisers for having afforded me this opportunity today. As you are well aware, implementation of the new capital adequacy framework has been a long and exacting journey in most of the jurisdictions, and so is the case with In

ജൂലൈ 03, 2007

Glimpses of Indian Economy and its Financial Sector

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

ഏപ്രി 09, 2007

Special features of Financial Sector Reforms in India

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

മാർ 13, 2007

Indian Financial Sector Reforms

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

Introduction At the outset, I am thankful to the Institute of International Bankers for giving me this opportunity of addressing the Annual Washington Conference 2007.The banking system in India has undergone significant changes during last 15 years. There have been new banks, new instruments, new windows, new opportunities and, along with all this, new challenges. While deregulation has opened up new vistas for banks to augment revenues, it has also entailed greater

മാർ 09, 2007

Regulators’ Eyes on Financial Institutions

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Regulators need to keep on top of banks, says Dr. Y V ReddyAs we move from a world based on relationships to one based on transactions, can our banks be far behind? Indeed, banking has been transformed, perhaps unrecognisably, and regulators and customers are taking notice.In the 1970s, a visit to the bank meant face-to-face time, assistance with problems, financial advice, and often just a friendly chat with your banker who you knew and trusted. Today, many customers

ഫെബ്രു 27, 2007

What RBI means to the Common Person

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Friends,I am happy to be in Karamchedu Village again. Many distinguished personalities in various fields; freedom fighters; shipping magnates; scientists; poets, ministers and medical doctors have hailed from this single village. Shri Yarlagadda Ranganayakulu garu, who was an engineer by training, is one such fine personality. We met accidentally a little over thirty years ago in Hyderabad. We became friends and we attempted to do some socially useful work on several

നവം 21, 2006

Central Banks and Risk Management: Pursuing Financial Stability

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

I have chosen to speak on "Financial Stability" for a number of reasons. Although financial stability has always been of concern to central banks, it is a relatively new concept in terms of the widespread attention being given to it in recent years. I thought it would be useful to discuss why it has become so important to central banks. Achieving this understanding would also help in explaining some of the behaviour of central banks. I will also try to explain why it

നവം 17, 2006

Monetary and Financial Policy Responses to Global Imbalances

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

DEPARTMENT OF ECONOMIC ANALYSIS AND POLICY I would like to compliment Bank Indonesia for arranging this conference on the theme "Monetary and Financial Policy Responses to Global Imbalances" at the Annual International Seminar 2006. This is an issue that has been among the top concerns of central bankers in the last few years: so the opportunity to have this discussion at this opportune time is very welcome for all of us. The issue of large global imbalances has been

ഒക്ടോ 09, 2006

Banking and Financial Sector Reforms : Status and Prospects*

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Respected Prime Minister Sir, Shri Vineet Jain, Honourable Shri Chidambaram, Dr. Rangarajan, Shri Ahluwalia, leaders of industry and finance, and friends, I am thankful to the organisers for according me the privilege of participating in this panel discussion. My comments are divided into three parts - personal, present status, and prospects for Banking and Financial Sector Reforms. On the personal front, I have worked closely with all the distinguished panelists here

സെപ്റ്റം 27, 2006

Changing Paradigms in Risk Management

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

The world of finance has always had an intuitive understanding of risk. The risks that emerge from the increased variety and complexities of banking business, as well as from the various new drivers of growth has pushed the contours of risk management in banks much beyond what would probably have existed in the more traditional forms of banking activity of accepting deposits and lending in relatively stable environments. Internationally, the last two decades or so hav

സെപ്റ്റം 26, 2006

Demystifying Basel II*

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

Friends, it gives me great pleasure to share my thoughts on some of the elements of Basel II implementation in India with this august gathering. I firmly believe that periodical sharing of thoughts and views by us on issues of topical relevance with bankers - both domestic and foreign; eminent bank regulators and supervisors from abroad; and above all - the users of the banking system, is fundamental for promoting greater transparency and understanding of the intent a

സെപ്റ്റം 07, 2006

Credit Counselling : An Indian Perspective

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Mr. Chairman, distinguished guests and friends, I am thankful to Mr. Balachandran for providing this opportunity to be with this eminent gathering assembled for a noble cause. Bank of India has been among the banks known to be a pioneer in several areas of commercial banking. In this context, the initiative by the bank to establish credit counselling centers on a pilot basis highlights the pro-active role being played by our banks. In fact, a major reason for my agree

സെപ്റ്റം 05, 2006

Use of technology in the financial sector: Significance of concerted efforts*

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Shri Arvind Sharma, Director, IDRBT, members of the Governing Council of the IDRBT, fellow bankers and distinguished guests, It gives me immense pleasure to be here with friends from the banking fraternity. In fact, being here is part of my annual pilgrimage to the Institute for Development and Research in Banking Technology (IDRBT). At the outset, I would like to compliment the Governing Council, faculty and staff of the IDRBT for continuing with their mission with d

ജൂലൈ 24, 2006

Avian Influenza Pandemic: Preparedness within the Financial Sector*

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

I would like to welcome all of you to India for the IMF Seminar on "Preparedness within the Financial Sector for an Avian Influenza Pandemic", which has been a source of concern not only for health experts but also for policy makers in Governments and Central Banks alike. It is important to undertake activities that are preventive in nature, so that the probability of an undesirable event is minimised. The Fund’s efforts to bring countries that are vulnerable to the p

ജൂലൈ 01, 2006

Banks and Service to the Common Person

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Chairperson of the Board Smt. Udeshi, Chairman of the IBA Shri Shetty, Deputy Governor Smt. Usha Thorat, distinguished bankers and friends, It gives me immense pleasure and satisfaction to be here to release the 'Code of Bank’s Commitment to Customers'. The Code signifies the first formal collaborative effort by the Reserve Bank of India, the banks and the newly set up Banking Codes and Standards Board of India (BCSBI) to provide a framework for a minimum standard of

ജൂൺ 03, 2006

Financial Sector Reforms and Monetary Policy: The Indian Experience

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

I. Introduction Since the initiation of reforms in the early 1990s, the Indian economy has achieved high growth in an environment of macroeconomic and financial stability. The period has been marked by broad based economic reform that has touched every segment of the economy. These reforms were designed essentially to promote greater efficiency in the economy through promotion of greater competition. The story of Indian reforms is by now well-documented (e.g., Ahluwal

മേയ് 30, 2006

Treating Bank Customers Fairly- Regulatory Initiatives *

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

It gives me great pleasure to participate in this Congress organised by the Financial Planning Standards Board India. Today, there is much more awareness of the need to protect consumers' rights and ensure fair practices in financial services. Countries are designating specific regulators or self regulatory watch dogs for overseeing whether there is mis-selling and whether fair and transparent practices are being observed by financial intermediaries. While specific gr

മേയ് 12, 2006

Approach to Basel II

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

Ladies and Gentlemen, it is my pleasure to be here at this program on emerging paradigms in risk management. As expected of me, in my address today, I intend to share with you the broad contours of the regulatory approach, process and thinking in regard to some of the issues arising in context of Basel II. Basel II aims to encourage the use of modern risk management techniques; and to encourage banks to ensure that their risk management capabilities are commensurate w

മേയ് 09, 2006

Reforming India’s Financial Sector: Changing Dimensions and Emerging Issues *

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Prof. Wyplosz, Mr. Roth and Distinguished ladies and gentlemen, I am honoured and indeed privileged to be amidst such an eminent gathering of central bankers and policymakers at the International Centre for Monetary and Banking Studies. In particular, I am grateful to Mr. Roth, Chairman, Swiss National Bank and Mr. Hildebrand for providing me this forum. The presentation today is on reforming India's financial sector. I eagerly look forward to the benefit of productiv

മേയ് 03, 2006

Challenges and implications of Basel II for Asia*

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Mr. Chairman and friends, I am thankful to the organisers for inviting me to participate in the annual meetings of the Asian Development Bank and give my views on Basel II in the Asian context. I have a special affinity to the city of Hyderabad. I started in this city as a Research Scholar in 1960, then taught as a lecturer in Osmania University till 1964, and later, was the Collector and District Magistrate of Hyderabad city in 1976-77. Again, I worked here as Secret

മാർ 10, 2006

Financial Sector Reform and Financial Stability

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Mr. President and distinguished friends, It is a privilege and an honour to be invited for this 8th Global Conference of Actuaries. Dr. R. Kannan has been a respected colleague of mine for several years in the Reserve Bank and I am thankful to him for persuading me to join you. Also, Mr. C.S. Rao, Chairman, IRDA and Mr. D. Swarup, PFRDA have been my friends and colleagues in the Government of Andhra Pradesh and Government of India. Financial sector reform and financia

മാർ 06, 2006

Reforms, Productivity and Efficiency in Banking: The Indian Experience

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

Let me at the outset congratulate the Pakistan Society of Development Economists for organising this Conference. Issues of productivity and efficiency have been at the centre-stage of discussions in recent years. Nowhere is this truer than the financial sector, which is perceived to be the ‘brain’ of the economy (Stiglitz, 1998). Even within the financial sector, given the dominance of bank-based financial systems in most emerging markets including ours and the system

ജനു 31, 2006

Indian banks and the global challenges*

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

It gives me great pleasure and privilege to participate in the Seminar jointly hosted by Indian Merchants' Chamber and IBA at a juncture when financial services sector across jurisdictions is going through a strong phase of increasing globalisation. Integration of economies leads to integration of financial markets catalyzing the globalisation process. The growing role of the financial sector in allocation of resources has significant potential advantages for the effi

ഡിസം 16, 2005

Corporate governance in banks in India

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Friends, I am thankful to the organisers for inviting me to give a luncheon address. There are several reasons why I was compelled to accept the responsibility. First, the eminence of the presentors, namely Indian Institute of Management, Bangalore, International Institute of Finance and Indian Banks’ Association. Second, the persuasive skills of Mr. Sinor who brings to bear the persona of the whole banking community on any subject. Third, growing importance being acc

ഡിസം 03, 2005

Future growth drivers : Retail versus corporate

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

Good afternoon, ladies and gentlemen. It is my pleasure to be here in the precincts of one of the premier business schools of India. When Mr. Bhusnur Math, an ex-RBI colleague, approached me for this seminar, I must concede it was the association of MDI with the event that made me accept the invitation. The way the world is changing and becoming more complex, newer challenges are being thrown up necessitating more interaction and dialogue between academia and the poli

നവം 14, 2005

Indian banking – The challenges ahead

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

1. I deem it an honour to have been invited to deliver this year’s G Natarajan memorial lecture. I did not have the good fortune of meeting late Shri G.Natrajan but I have heard a lot about him from my friend Shri V.A. George. As a father of a mentally challenged child I had an insight into the activities of Smt. Poonam Natrajan, founder chairperson of Vidya Sagar, formerly known as Spastic Society of India, Chennai. I am grateful to her for inviting me to address thi

നവം 14, 2005

Corporate Governance in the Financial Sector

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

I am happy to be here today at the annual seminar of insurance regulators and feel fortunate to share the platform with a very distinguished international expert Dr. YRK Reddy of the Academy of Corporate Governance. Keeping in view the discussions on corporate governance scheduled at the seminar I intend to give a brief overview of the role and importance of corporate governance in the banking sector, initiatives undertaken by RBI and then a flag a few generic issues

ഒക്ടോ 07, 2005

Banks and Corporates as Partners in Progress

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Friends, I am thankful to the organisers for giving me the opportunity to be with you and deliver the valedictory address at the FICCI-IBA Conference on ‘Global Banking : Paradigm Shift’. It is noteworthy that eminent persons from diverse areas of expertise and experience have participated in the Conference; and quite a few of them are from global bodies such as, BIS and central bankers or banking regulators from Mauritius, Pakistan, Saudi Arabia, Singapore, U.K. and

ഓഗ 26, 2005

Financial System Stability and Basel II -Way Forward

Smt. K.J. Udeshi, Deputy Governor, Reserve Bank of India

The initiative of the Association of Professional Bankers – Sri Lanka in organising this conference on Financial System Stability and Basel II – Way Forward is indeed commendable. Basel II is an important milestone in banking regulation and supervision and ought to be viewed as a necessary process for promoting the safety and soundness of the banking sector and thereby strengthening financial stability. What is financial stability? 2. In a situation of financial stabi

ജൂലൈ 09, 2005

Regulation and Risk Management: Implementing Basel II

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

It is indeed an honour to be amongst you on the occasion of the Platinum Jubilee Celebrations of The South Indian Bank Ltd. Today we remember the founders and pay homage to their vision and drive that led to the establishment of this bank. It is not only a day to feel proud, it is a day to reflect, a day to share, and a day to celebrate. It is also an opportunity to re-emphasise what the institution stands for, which not only helps in projecting its corporate culture

മേയ് 28, 2005

Retail Banking - Opportunities and Challenges *

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

The issue of retail banking is extremely important and topical. Across the globe, retail lending has been a spectacular innovation in the commercial banking sector in recent years. The growth of retail lending, especially, in emerging economies, is attributable to the rapid advances in information technology, the evolving macroeconomic environment, financial market reform, and several micro-level demand and supply side factors. India too experienced a surge in retail

മേയ് 26, 2005

Emerging Challenges before the Indian Banks – The Road Ahead*

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

It is indeed an honour to be invited to commence the Dena Bank Foundation Day Lecture Series. Today, as we remember the founders, we essentially pay homage to their vision and drive that led to the establishment of the Dena Bank. Shri Pranlalbhai Nanjee, inspired by his late father Shri Devkaran Nanjee’s dream to start a bank and play a seminal role in the development of the Indian banking industry, started the Devkaran Nanjee Banking Company in January 1938, about th

മേയ് 18, 2005

Banking Sector Reforms in India: An Overview

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Governor Ishrat Husain and distinguished bankers,At the outset, let me express my gratitude to Governor Husain for inviting me to visit Karachi and meet with you. I consider it an honour to be here amidst the banking fraternity. I would like to congratulate Pakistan for its impressive economic performance. Governor Husain, in his address at the Seminar on Management of Pakistan Economy in Lahore, a few weeks ago, had this to say about recent economic performance of Pa

ഏപ്രി 26, 2005

In quest of new cheese

Smt. K.J. Udeshi, Deputy Governor, Reserve Bank of India

IBA deserves to be complimented for having organised this Seminar on the subject of "In search of new cheese – Towards Newer Profit Avenues". The subject holds considerable contemporary relevance coming as it does at a time of intense competition, thinning margins, rising yields, and dwindling trading profits. As we look back we can see that the declining interest rate scenario during the last three to four years coupled with prudent regulation, in alignment with inte

ഏപ്രി 26, 2005

Are Banks serving the Common Man ?

Smt. K.J. Udeshi, Deputy Governor, Reserve Bank of India

Ladies and gentlemen of the Lions Club of Bombay, Thank you very much for giving me an opportunity to share my thoughts with you all. Only Lions would be courageous enough to listen to a talk on the subject of banking which is dry and devoid of any humour. But if you keep in mind that banks deal with your hard-earned savings, what I have to say may be of interest to you. 2. The Reserve Bank has been trying to discipline banks with regard to the quality of customer ser

ഏപ്രി 03, 2005

Emerging Realities in Banking & Finance: Role of New Generation Managers

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

It is indeed a pleasure to be here in your midst today. To be amongst bright young students is not only energizing but also a learning experience - as we look at issues afresh and start by asking basic questions, which at some level are the most difficult. 2. The Reserve Bank has shared a very special relationship with the NIBM – it catalyzed its creation in 1969, provided the venue for its first campus and has been intimately associated with its functioning. While th

മാർ 11, 2005

Contemporary and Future Issues in Indian Banking*

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

Banking scenario has changed rapidly since 1990s. The decade of 90s has witnessed a sea change in the way banking is done in India. Technology has made tremendous impact in banking. ‘Anywhere banking’ and ‘Anytime banking’ have become a reality. The financial sector now operates in a more competitive environment than before and intermediates relatively large volume of international financial flows. In the wake of greater financial deregulation and global financial int

മാർ 11, 2005

Basel II Accord and its Implications

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

Ladies and gentlemen, it is my pleasure to share my thoughts with you on a subject which is currently engaging the attention of the banking community, not just in India but worldwide. Let me first admit upfront that although I am at the moment wearing the regulator’s hat, yet I have been a commercial banker for most part of my professional career. So, the banker in me still goads me to put myself in bankers’ shoes before evaluating any regulatory options. I can better

നവം 27, 2004

Corporate Governance in Banks*

Shri V. Leeladhar, Deputy Governor, Reserve Bank of India

Let me at the outset commend the achievements of your bank in almost all the performance parameters. It is indeed heartening to see a well functioning and sound bank in the otherwise none too rosy co-operative sector. In fact, there could have been no better tribute to the memory of your great founder Sheth Shantaram Mangesh Kulkarni than to turn in a solid performance year after year, and also at the same time becoming a technologically savvy institution. I congratul

നവം 10, 2004

Banking Needs of a Global Economy - Keynote Address

Anne O Krueger, First Deputy Managing Director

Thank you. I am, as ever, delighted to be in India. I am only sorry that on this occasion my visit is so brief. I am here in Delhi specifically to attend your conference this morning. I was glad to have the opportunity to address such an important topic and I am grateful to the organizers for persisting with their invitation even when getting here did not seem logistically possible. As you can see, it was—just! A strong, well-functioning financial sector is crucial fo

നവം 10, 2004

Banking Sector in Global Perspective - Inaugural Address

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Distinguished guests, Ladies and Gentlemen, It is indeed a pleasure and privilege to be amidst this august gathering of eminent bankers, experts and policymakers. Over the years, the Conference has evolved as an important forum for structured information sharing among not only delegates from the banking sector, but also experts from research institutions, credit rating agencies, international institutions and other financial sector bodies. The Bankers’ Conference, 200

നവം 10, 2004

Corporate Governance: Towards Best Practices*

Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India

Corporate governance is increasingly demanding our attention and has moved centrestage. The Enron and WorldCom scandals in the U.S have amply demonstrated the necessity of having a system of corporate governance even in the developed world. In a liberalising and deregulating country like India, corporate governance is all the more important. In this context, it is indeed heartening to note that Bankers’ conference is devoting a full session on "corporate governance".

സെപ്റ്റം 16, 2004

Issues in Bank Regulation and Supervision*

Smt. K.J. Udeshi, Deputy Governor, Reserve Bank of India

FICCI has been in the forefront of creating a platform for healthy debate and discussion leading to responsible actions. I would like to thank FICCI for inviting me to speak at this Forum especially as there are several high level functionaries who have travelled great distances to be with us on this occasion. It is a wonderful opportunity and I would certainly use it to explore a few issues at the frontiers of regulation and supervision. Some of these are unsettled i

സെപ്റ്റം 16, 2004

Financial Sector Reforms in India: Policies and Performance Analysis*

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

സെപ്റ്റം 09, 2004

Ownership and Governance in Private Sector Banks in India

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

I am grateful to the Confederation of Indian Industries to arrange a seminar on a subject of great importance today. This gives me an opportunity to discuss the issues with various stakeholders. On July 2, 2004, RBI issued draft guidelines on ownership and governance in private sector banks in India. These guidelines were placed in the public domain for wider debate and feedback. The RBI is to put out a second draft and then finalise the policy taking into account the

ഓഗ 28, 2004

Bank Supervision – Challenges Ahead*

Smt. K.J. Udeshi, Deputy Governor, Reserve Bank of India

I deem it an honour and a privilege to speak before this august gathering on the occasion of the Nani Palkhivala Memorial Oration. While conferring on him the Honorary degree of Doctor of Laws, Shri Nani Palkhivala was described by Princeton University, USA, as a "defender of constitutional liberties, champion of human rights, teacher, author and economic developer". This description, however, does not capture the brilliance of the man’s mind, the eloquence of his spe

ജൂലൈ 30, 2004

Indian Banking and e-Security*

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

I. INTRODUCTION Thank you very much for inviting me to this inaugural session of the Conference on e-security. With the expansion of IT applications in the Indian banking system, there is a concomitant increase in concerns relating to e-security. It is, therefore, very appropriate and timely that the Indian Banks' Association (IBA) and Manufacturers Association of Information Technology (MAIT) have come together to organize this conference. The banking sector is one o

ജൂൺ 27, 2004

Financial Stability : Indian Experience

Dr. Y. V. Reddy, Governor, Reserve Bank of India

I am thankful to the BIS for inviting me to share some thoughts on financial stability issues in the Panel of four Governors. It is an honour to address the galaxy of central bankers assembled here in connection with the annual meetings of the BIS. My observations are based on the Indian experience and would focus on rebalancing of efficiency and stability in the context of financial sector reforms in India. 2. In India, we have been moving from a government-dominated

ജൂൺ 02, 2004

Implementation of Basel II: An Indian Perspective

Smt. K.J. Udeshi, Deputy Governor, Reserve Bank of India

Address by Smt. Kishori J. Udeshi, Deputy Governor, Reserve Bank of India at the World Bank/IMF/US Federal Reserve Board 4th Annual International Seminar on Policy Challenges for the Financial Sector : Basel II at Washington on June 2, 2004 Yesterday we had very absorbing discussions on macro issues, regulatory perspectives and risk management challenges relating to Basel II. We are now not debating whether to go forward with Basel II but how to implement Basel II. In

മാർ 27, 2004

M.A.Master Memorial Lecture

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

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ജനു 06, 2004

Credit Policy, Systems and Culture

Dr. Y. V. Reddy, Governor, Reserve Bank of India

Coming to the Institute kindles a feeling of festive occasion and it is a privilege and an honour to be here with you. There have been significant achievements, in training, in diversified fields, with new initiatives and a wider coverage in the area of research and consultancy. Admittedly, there is more of sponsored research now. Incidentally, one of my former colleagues Ms. Indrani Banerjee, who along with others worked with me on a money-laundering Report in the Re

ഡിസം 12, 2003

Retail Banking : Challenges Ahead in Distribution Channels in Urban/Rural India - Remarks

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

The promise of lower transaction costs, increased sales productivity, and more convenient service has lured banks into setting up new delivery channels. Earlier, vast brick and mortar branch network has been considered as an inherent advantage of established banks and new entrants were at huge disadvantage vis-à-vis the established players in terms of customer reach. However, post 1990s new players are effectively taking on the branch network advantage of the establis

ഡിസം 11, 2003

Towards Globalisation in the Financial Sector in India - Inaugural Address

Dr. Y. V. Reddy, Governor, Reserve Bank of India

I am indeed very happy to be, once again, amongst friends– albeit in a slightly different capacity. All of you have been totally supportive to me and, I must express my deep sense of gratitude to you for the warm and affectionate welcome that you gave for my appointment. My address today is in the nature of sharing of some of my preliminary thought processes on the subject of globalisation and the financial sector. The presentation today starts with a framework for ap

ഡിസം 09, 2003

Banking and Trade Finance Inaugural Address

Smt. K.J. Udeshi, Deputy Governor, Reserve Bank of India

I am indeed privileged to be invited to inaugurate this conference and especially so, as this is the first time that the International Chamber of Commerce Banking Commission Meeting is taking place in India. The contribution made by ICC in standardisation is well-known but perhaps what is not so well-known is that the ICC also contributes to making business policy by publishing policy statements and reports and laying down guidelines, goals and rules. This conference

നവം 28, 2003

Finance for Industrial Growth

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

It is indeed a privilege and an honour for me to deliver the Mohan Kumaramangalam Memorial Lecture here at the Administrative Staff College of India. Mohan Kumaramangalam was one of the most distinguished public servants of his generation. His untimely and unfortunate death in a plane crash in 1973 deprived India of a worthy son. A leftist in his student days in England, Mohan Kumaramangalam was a leading light of Mrs. Gandhi's cabinet. His enduring contribution was t

സെപ്റ്റം 09, 2003

Financing for Entrepreneurship and SMEs : An Indian Perspective

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

I am indeed thankful to OECD for inviting me as speaker at this important workshop on "Entrepreneurship in a Global Economy". In my address, I shall share with you some of the initiatives that are being taken by the Indian authorities with regard to the Small Scale Industries (SSI), against the backdrop of the SME financing in a cross-country perspective.In view of the continuing financing problems of the SMEs, at least two broad approaches have been adopted at the na

മേയ് 21, 2003

Infrastructure Development in India: Emerging Challenges

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

I. BACKGROUNDInfrastructure contributes significantly to economic development both by increasing productivity and by providing amenities that enhance the quality of life. The impact of infrastructure on economic growth is well documented internationally. In the Indian context too, elasticities of output with respect to various stocks of infrastructure indicate that the transport and communication sectors play a dominant role in explaining the variations in GDP and its

ജനു 07, 2003

Management Challenges in Banking*

Shri. G.P. Muniappan, Deputy Governor, Reserve Bank of India

IntroductionIt gives me great pleasure in participating in the Annual Day function of NIBM where I have spent two years as a student of BMP in 1980s. NIBM has been playing a vital role in providing a platform to bankers and at times to Regulators also for exchange of views and thoughts to meet the emerging requirements of banking sector. Recent developments have underscored the urgency to sensitise the banking industry on emerging issues and quickly adapt to the chang

ഡിസം 29, 2002

Transforming Indian Banking: In Search of a Better Tomorrow

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

The significant transformation of the banking industry in India is clearly evident from the changes that have occurred in the financial markets, institutions and products. While deregulation has opened up new vistas for banks to augment revenues, it has entailed greater competition and consequently greater risks. Cross-border flows and entry of new products, particularly derivative instruments, have impacted significantly on the domestic banking sector, forcing banks

ഡിസം 28, 2002

Re-Engineering Operations in Banking System

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

Banking has traditionally remained a protected industry in many emerging economies. However, a combination of developments has compelled banks to change the old ways of doing business. These include, among others, technological advancements, disintermediation pressures arising from a liberalized marketplace, increased emphasis on shareholders’ value and macroeconomic pressures and banking crises in 1990s. As a consequence of these developments, the dividing line betwe

ഡിസം 28, 2002

Inaugural Session on Technical Session I - Reorienting Structure

Shri. G.P. Muniappan, Deputy Governor, Reserve Bank of India

Introduction It gives me great pleasure to address this gathering of professionals from the financial sector. I have been impressed by the arrangements which have been made for the conduct of the program, and hope that the proceedings will also match the organisation in grandeur. I have had the opportunity to go through the papers which are being presented at this session and I am very happy to note that they are of a high quality and raise very pertinent issues. In f

ഡിസം 27, 2002

Strengthening Indian Banking and Finance: Progress and Prospects

Dr. Bimal Jalan, Governor, Reserve Bank of India

The Bank Economists’ Conference has become an important annual event for constructive interactions and informed debate on the state of our financial system. The theme chosen for this year, "Indian Banking: Managing Transformation", provides an excellent opportunity to reflect on the ground that has been covered in transforming Indian banking into a vibrant, sound and a well-functioning system, and to chart out a plan for the future. I am happy to be here with you agai

സെപ്റ്റം 11, 2002

Governance and Regulation of Financial Services

Shri. G.P. Muniappan, Deputy Governor, Reserve Bank of India

I. Introduction to the theme and the speakersThe theme for this session is a very broad one, encompassing the entire framework of regulation. However, it is very relevant in today’s times given the focus on the regulation and supervision of the institutions in the financial sector. This focus has emerged in the context of the large number of financial sector crises and bank failures, which have plagued almost all the economies in the world over the last two decades. T

ഓഗ 31, 2002

Challenges Before The Indian Banking Industry

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

I am honoured to speak at the 55th Annual General Meeting of the Indian Banks' Association. The Indian Banks' Association started as a voluntary service Organisation in 1946 has played a very important and pivotal role for more than 50 years in the banking industry and has made commendable efforts as a facilitator in ensuring an efficient and sound banking system which is committed to excellence in operations and customer service. The Association strives to meet the d

ഓഗ 30, 2002

Seminar on Banking Reforms and Strategies1

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

The first phase of banking sector reforms initiated in pursuance of the recommendations of the Committee on Financial Sector Reforms provided the necessary platform to the banking sector to operate on the basis of operational flexibility and functional autonomy, thereby enhancing efficiency, productivity and profitability. Keeping in view the major changes that took place in the macro economic environment and policy and institutional developments in the interim period

ജൂലൈ 08, 2002

Bank of England’s Seminar on International Financial Architecture

Dr. Bimal Jalan, Governor, Reserve Bank of India

Today’s topic is a very large one and the time available to us is relatively short. To make the maximum use of the time available to me, I will make four broad points rather than deal with any specific issues relating to the international financial architecture. These, we can deal with later in the seminar during the question/answer period. The First point that I want to make is that we need to recognize that the period of the 90s, despite many gains, has seen many mo

ഏപ്രി 19, 2002

Monetary and Financial Sector Reforms in India: A Practitioner's Perspective

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Draft for Discussion For Private Circulation The objectives of this paper are to review the monetary and financial sector reforms in India, identify the emerging issues and explore the prospects for further reform. The first part is devoted to a brief background on the need for reforms taken up in 1991-92. The second part is devoted to the institutional aspects of the reform. Issues relating to ownership, competition and regulation in the financial sector as a whole,

ഏപ്രി 18, 2002

Public Sector Banks and the Governance Challenge: Indian Experience

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

The objective of this paper is to detail the Indian experience in meeting the governance challenge with special reference to public sector banks (PSBs) or State-owned banks as they are described in some countries. The paper sets out the historical context of the Indian experience since the governance challenge is significantly related to the background in which state ownership emerged. This will be followed by an account of the pre-reform status encompassing the polic

ഏപ്രി 01, 2002

The NPA Overhang - Magnitude, Solutions, Legal Reforms

Shri. G.P. Muniappan, Deputy Governor, Reserve Bank of India

IntroductionI have readily accepted the invitation of CII for an interaction on NPAs so that the central bank can convey its concerns to those who can offer right solutions to this vexing problem and at the same time hear their view points for possible mitigation role by the central bank and government. I am thus really grateful to have been given an opportunity to talk on a subject of great interest to all who have assembled here.In fact, the problem of non performin

ഫെബ്രു 11, 2002

Winning Strategies in Small and Medium Enterprises Finance

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

It is a matter of great pleasure for me to be present on this occasion for the inaugural address and share some of my thoughts and experiences on the development of this vital sector of economy. The IFC and FICCI need to be congratulated for the thoughtful theme selected for the symposium. The organisation of this symposium gains importance in the context of globalisation when the Small and Medium Enterprises (SME) face challenges and take advantage of opportunities c

ജനു 23, 2002

Legal Aspects of International Financial Standards : National Law Perspective

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Professor Giovanoli and friends, I am thankful to the Bank for International Settlements for giving me opportunity to make this presentation on the national law perspective, though a large number of presentations in the Seminar relate to international law. The presentation is based on Indian approach and Indian experience and focus is on processes and current status of various legislative changes that evolve in the consideration of international standards and codes. S

ജനു 17, 2002

Indian Banking of Tomorrow *

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

It is a proud privilege to be present at a conference which not only provides an introspection of the way things have gone by but also provides a glimpse into the near future – so that banks could plan their future course of action accordingly. I am indeed privileged to make the lead presentation on a topic close to my heart – on managing change for the better. Although my topic reads as ‘Indian Banking of tomorrow’ let me hasten to add that the tomorrow is already he

ജനു 16, 2002

Indian Banking : Paradigm Shift in Public Policy

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Chairman, distinguished participants and friends,I am thankful to the organisers for inviting me to deliver this address. It is good to see that the focus on paradigm shift did not extend to shifting the traditional speaker at the Valedictory Address. Today’s address will be divided into five sections. The first section would capture the paradigm shift in the environment in the Indian banking as presented in the Conference and the deliberations as captured by the Rapp

ജനു 14, 2002

Indian Banking : Paradigm Shift – A regulatory point of view

Shri. G.P. Muniappan, Deputy Governor, Reserve Bank of India

I am very happy to be here today in the midst of this distinguished gathering of practising bank economists. The decade gone by witnessed a wide range of financial sector reforms, with many of them still in the process of implementation. Some of the recently initiated measures by the RBI for risk management systems, anti money laundering safeguards and corporate governance in banks, and regulatory framework for non bank financial companies, urban cooperative banks, go

ജനു 06, 2002

Corporate Governance and Financial Sector: Some Issues

Dr. Bimal Jalan, Governor, Reserve Bank of India

Mr. Bhide, Dr. Saha, Distinguished Chairpersons of banks, FIs, and friends,The Annual Day of the NIBM has become an important event in the Bank’s calendar that all of us look forward to, and I am glad to be with you once again. I am thankful to Mr. Bhide and the Board of the NIBM for giving me this opportunity for an exchange of views on the important subject of Corporate Governance in banks and financial institutions. This is a timely initiative as the events of last

നവം 22, 2001

Corporate Governance

Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India

I am happy to be here today. I am happy to be here in this historic city of Hyderabad, which is known as the training capital of India and equally happy to be in this prestigious campus of Administrative Staff College of India, nationally acclaimed as a temple of learning and temple of training. I thank my good and esteemed friend Dr. E.A.S Sarma- a well-known administrator, intellectual, economist and academician for giving me this wonderful opportunity of addressing

സെപ്റ്റം 12, 2001

Indian Insurance : At The Crossroads

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

മേയ് 22, 2001

Issues in Choosing Between Single and Multiple Regulators of Financial System

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

മാർ 15, 2001

Implementation of Financial Standards and Codes: Indian Perspective and Approach

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 Indias stand on glo

ജനു 16, 2001

Financial Stability and the Role of Banks

Shri S. P. Talwar, Deputy Governor, Reserve Bank of India

IntroductionI am grateful to the Indian Banks’ Association (IBA) for extending me the opportunity to address this highly enlightened gathering of bankers and economists. Many of you might have participated in the last conference held at Bangalore in December 1998 with the theme focussed "Towards Sound and Strong Banking". That was built around the then emerging scenario of Indian financial system being exposed to competition and several reform measures initiated by th

ജനു 15, 2001

Banking and Finance in the New Millennium.

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. Indias 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

നവം 16, 2000

Government Budgets, Banking and Auditors: What is New?

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Mr. Chairman and friends,I am thankful to the organisers for persuading me to address this gathering since the event has provoked me to think deeper on a subject of mutual interest. In fact, having agreed to give a talk, the search for an appropriate subject commenced. It has to be futuristic as demanded by the organisers. It ought to be of general interest and at the same time relevant to a gathering of Chartered Accountants. Of course it can not but be an area of co

ഒക്ടോ 10, 2000

Risk Management in Financial Institutions

Shri Jagdish Capoor, Deputy Governor, Reserve Bank of India

I am indeed pleased to be here to discuss an important topic like risk management. This is all the more so in an area like finance, where risk and its management has assumed greater significance.I would first attempt to discuss the renewed interest on risk management in recent years due to changing risk perception in financial institutions followed by an overview of the types of risks and the strategies for risk management. Thereafter, I propose to deal with the role

ഓഗ 19, 2000

Deposit Insurance Reforms in India

Shri Jagdish Capoor, Deputy Governor, Reserve Bank of India

I am honoured at being invited to inaugurate this seminar on Deposit Insurance Reforms in India. As you are aware, reform in deposit insurance is a crucial component of financial sector reforms. The importance accorded to this area is reflected in the composition of the Committee on Reforms in Deposit Insurance which had eminent bankers and academicians as members besides all the three Deputy Governors of Reserve Bank including myself. Union Finance Minister Shri Yash

ജൂൺ 13, 2000

Changing Role of RBI: Agenda for Attention

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Mr. Chairman and friends, I am grateful to the organisers of the Madon Memorial Lecture for inviting me to deliver this Lecture. That the contributions of Shri B.F. Madon are of lasting value is evident from the fact that although, over seventy years have elapsed since he passed away, lectures in his memory are organised, and the response is still overwhelming. There are several reasons why I feel especially elated at my association with this lecture series. First, Ma

ഏപ്രി 08, 2000

Credit Rating : Changing Perspectives

Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India

Respected Vice-Chancellor Dr. D.C. Reddy, Professor Kishan Rao, and, friends, I am thankful to my large circle of friends who organised this gathering, and gave me an opportunity to be at home in Osmania University today. My association with the University is forty years old, a long time indeed, and in several capacities, as a research scholar, lecturer and Visiting Professor. Dr. Nagaraj was my senior colleague and we had many things in common, including Bellary-conn