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നവം 25, 2014
Saving Credit
Let me start by thanking the Director of IRMA for inviting me to deliver the Third Dr. Verghese Kurien lecture. Dr. Kurien was a pioneer in the co-operative movement. He not only was instrumental in bringing about the White Revolution but he also built a variety of institutions, including Amul, IRMA, and NDDB. In creating the means by which farmers could get remunerative, stable incomes, even while professionals managed their interactions with the modern market econom
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Let me start by thanking the Director of IRMA for inviting me to deliver the Third Dr. Verghese Kurien lecture. Dr. Kurien was a pioneer in the co-operative movement. He not only was instrumental in bringing about the White Revolution but he also built a variety of institutions, including Amul, IRMA, and NDDB. In creating the means by which farmers could get remunerative, stable incomes, even while professionals managed their interactions with the modern market econom
നവം 24, 2014
Re-designing Regulatory Framework for NBFCs
The Non-Banking Finance Companies (NBFCs) in India, have evolved over the last fifty years to emerge as notable alternate sources of credit intermediation. The non-bank sector in India is wide and encompasses several financial intermediaries like the loan and investment companies, housing finance companies, the infrastructure finance companies, the asset finance companies, core investment companies, micro finance companies and factoring companies. In a broader sense,
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
The Non-Banking Finance Companies (NBFCs) in India, have evolved over the last fifty years to emerge as notable alternate sources of credit intermediation. The non-bank sector in India is wide and encompasses several financial intermediaries like the loan and investment companies, housing finance companies, the infrastructure finance companies, the asset finance companies, core investment companies, micro finance companies and factoring companies. In a broader sense,
നവം 21, 2014
Economic Outlook and Role of Monetary Policy in funding Infrastructure projects
Delegates to the Summit, ladies and gentlemen! It is indeed a pleasure to be here this morning to interact with you. I thank Citibank and in particular, Mr. Pramit Jhaveri for inviting me to this summit. I must say that the theme for the summit is more topical than ever before in the aftermath of the Global Financial Crisis. We are seeing some positives towards recovery from the downtrend witnessed by the Indian economy since 2007-08. You have already heard the perspe
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Delegates to the Summit, ladies and gentlemen! It is indeed a pleasure to be here this morning to interact with you. I thank Citibank and in particular, Mr. Pramit Jhaveri for inviting me to this summit. I must say that the theme for the summit is more topical than ever before in the aftermath of the Global Financial Crisis. We are seeing some positives towards recovery from the downtrend witnessed by the Indian economy since 2007-08. You have already heard the perspe
നവം 19, 2014
Emerging contours of Regulation and Supervision in the Indian Banking Sector
Delegates to the conference, ladies and gentlemen! It is a pleasure to be here this morning to interact with you all. At the outset, I would like to thank Axis Capital Limited and especially Mr. Nilesh Shah, for inviting me to address the participants. 2. During 2013-14, amid slow growth and high inflation, the Indian economy had to contend with serious challenges to external stability emanating from an unsustainably high current account deficit (CAD), capital outflow
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Delegates to the conference, ladies and gentlemen! It is a pleasure to be here this morning to interact with you all. At the outset, I would like to thank Axis Capital Limited and especially Mr. Nilesh Shah, for inviting me to address the participants. 2. During 2013-14, amid slow growth and high inflation, the Indian economy had to contend with serious challenges to external stability emanating from an unsustainably high current account deficit (CAD), capital outflow
നവം 10, 2014
Structure of Foreign banks for emerging nations – Indian case
Ladies and Gentlemen! It is a pleasure and privilege to be among the banking and finance industry participants and fellow regulators in this ASIFMA Annual Conference on Developing Asia’s Capital Market. The theme of the Conference is very contemporary. Though the theme relates to Capital Market, I also find that you had included credit and banking in the discussions. And I find that one of the panel sessions was specific to India, besides many other sessions which als
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen! It is a pleasure and privilege to be among the banking and finance industry participants and fellow regulators in this ASIFMA Annual Conference on Developing Asia’s Capital Market. The theme of the Conference is very contemporary. Though the theme relates to Capital Market, I also find that you had included credit and banking in the discussions. And I find that one of the panel sessions was specific to India, besides many other sessions which als
നവം 07, 2014
Fortifying Cooperatives – Efforts to strengthen the Short Term Cooperative Credit Structure
Ladies and gentlemen! 1. I am very happy to be here today to share with you the present status of co-operatives in general and the role of rural cooperative banks as an institution, in particular. I feel honoured to be here with you all and inaugurate this Orientation Programme on Investment in Government Securities. Let me, at the outset, convey my thanks to the Regional Director for Maharashtra and Goa for inviting me to speak on this important occasion. 2. The thre
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
Ladies and gentlemen! 1. I am very happy to be here today to share with you the present status of co-operatives in general and the role of rural cooperative banks as an institution, in particular. I feel honoured to be here with you all and inaugurate this Orientation Programme on Investment in Government Securities. Let me, at the outset, convey my thanks to the Regional Director for Maharashtra and Goa for inviting me to speak on this important occasion. 2. The thre
ഒക്ടോ 20, 2014
Corporate Sustainability a Panacea for Growth: Values, Convictions and Actions
Introduction: Good morning to Dignitaries on the dais, members of faculty and my young friends in the audience. At the outset, my apologies for not being able to be physically present on this occasion on account of some personal exigencies. I am thankful to the organisers for having agreed to my thoughts being shared in absentia. Thanks to my colleague, Mr. C V George, General Manager and head of our Kochi office for readily agreeing to read out my address. 2. In the
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Introduction: Good morning to Dignitaries on the dais, members of faculty and my young friends in the audience. At the outset, my apologies for not being able to be physically present on this occasion on account of some personal exigencies. I am thankful to the organisers for having agreed to my thoughts being shared in absentia. Thanks to my colleague, Mr. C V George, General Manager and head of our Kochi office for readily agreeing to read out my address. 2. In the
ഒക്ടോ 14, 2014
Banking Renaissance: Inclusion, Innovation & Implementation
Shri Arun Tiwari, Chairman, Union Bank of India; Dr. Rajan Saxena, Vice-Chancellor, Narsee Monjee Institute of Management Studies (NMIMS); Dr. Shamsuddin Ahmed, Dean; Dr. Vrinda Kamat, Professor and Programme Chairperson (MBA Banking); Shri. C. B. Ramamurthy; faculty and students of the School of Business Management, NMIMS University; distinguished invitees, members of the print and electronic media, ladies and gentlemen! At the outset, let me commend the NMIMS for im
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Shri Arun Tiwari, Chairman, Union Bank of India; Dr. Rajan Saxena, Vice-Chancellor, Narsee Monjee Institute of Management Studies (NMIMS); Dr. Shamsuddin Ahmed, Dean; Dr. Vrinda Kamat, Professor and Programme Chairperson (MBA Banking); Shri. C. B. Ramamurthy; faculty and students of the School of Business Management, NMIMS University; distinguished invitees, members of the print and electronic media, ladies and gentlemen! At the outset, let me commend the NMIMS for im
ഒക്ടോ 07, 2014
Role of Financial Sector in Spurring Growth and Expanding Financial Inclusion in North Eastern Region
Introduction The North Eastern Region (NER) of India constitutes eight states namely Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim1.The NER is a unique socio-cultural segment in the country, richly endowed with natural resources with fertile land, identified as one of the most bio-diverse regions in the World. However, the development of the NER has lagged the rest of the country. The task of development of NER emanating from its
Shri P. Vijaya Bhaskar, Executive Director, Reserve Bank of India
Introduction The North Eastern Region (NER) of India constitutes eight states namely Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim1.The NER is a unique socio-cultural segment in the country, richly endowed with natural resources with fertile land, identified as one of the most bio-diverse regions in the World. However, the development of the NER has lagged the rest of the country. The task of development of NER emanating from its
ഒക്ടോ 06, 2014
Indian Foreign Exchange Market: Recent Developments and the Road Ahead
It is indeed a pleasure to address the trading professionals in the Indian foreign exchange market at the Forex Association of India’s 25th Annual Forex Assembly. The emerging and enchanting city of Gurgaon provides the right backdrop for holding such a conference as this city epitomizes phenomenal growth and development symbolizing the best of “Made in India” and “Make in India” and in a similar vein the Indian forex market has also witnessed tremendous growth and de
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
It is indeed a pleasure to address the trading professionals in the Indian foreign exchange market at the Forex Association of India’s 25th Annual Forex Assembly. The emerging and enchanting city of Gurgaon provides the right backdrop for holding such a conference as this city epitomizes phenomenal growth and development symbolizing the best of “Made in India” and “Make in India” and in a similar vein the Indian forex market has also witnessed tremendous growth and de
ഒക്ടോ 01, 2014
Designing Banking Regulation in Aspiring Economies: The Challenges
Prof. Suresh Aggarwal, Head of the Department of Business Economics, University of Delhi, delegates to this flagship 41st Annual Convention of the Department and students participating in the convention - very good morning! It is an honour for me to be here today to deliver the inaugural address of the convention. The convention provides a valuable platform for interaction between the industry and academia on various current issues relevant to creating conducive busin
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Prof. Suresh Aggarwal, Head of the Department of Business Economics, University of Delhi, delegates to this flagship 41st Annual Convention of the Department and students participating in the convention - very good morning! It is an honour for me to be here today to deliver the inaugural address of the convention. The convention provides a valuable platform for interaction between the industry and academia on various current issues relevant to creating conducive busin
സെപ്റ്റം 17, 2014
Protecting Customers - Safeguarding Stability
Introduction: At the outset, I thank the All India Bank Depositors’ Association for inviting me to this - their Annual event. I am deeply honoured to be here today for the 10th M R Pai Memorial Awards. It is with a sense of great humility that I deliver this address. The memorial is a fitting tribute to Shri M R Pai, a crusader of Customer Rights. A Karma Yogi in the spirit of the Bhagwad Geeta, one who worked selflessly and without hope of reward, guided by the Gita’
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
Introduction: At the outset, I thank the All India Bank Depositors’ Association for inviting me to this - their Annual event. I am deeply honoured to be here today for the 10th M R Pai Memorial Awards. It is with a sense of great humility that I deliver this address. The memorial is a fitting tribute to Shri M R Pai, a crusader of Customer Rights. A Karma Yogi in the spirit of the Bhagwad Geeta, one who worked selflessly and without hope of reward, guided by the Gita’
സെപ്റ്റം 16, 2014
Re-emphasizing the Role of Compliance Function In Banks
Shri G. Gopalakrishna, Director, CAFRAL; Shri P.R. Ravi Mohan, Chief General Manager-in-Charge, Department of Banking Supervision, Reserve Bank of India (RBI) and the conference participants! It is a pleasure for me to deliver the keynote address at this Conference of senior representatives of the compliance departments of commercial banks. Across the globe, it is an accepted fact that compliance is an area that warrants considerable attention. In recent times, the em
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India
Shri G. Gopalakrishna, Director, CAFRAL; Shri P.R. Ravi Mohan, Chief General Manager-in-Charge, Department of Banking Supervision, Reserve Bank of India (RBI) and the conference participants! It is a pleasure for me to deliver the keynote address at this Conference of senior representatives of the compliance departments of commercial banks. Across the globe, it is an accepted fact that compliance is an area that warrants considerable attention. In recent times, the em
സെപ്റ്റം 15, 2014
Economic & Financial Outlook
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
സെപ്റ്റം 03, 2014
Finance, Credit and Markets
The role of the financial system is to intermediate between lenders and borrowers and provide avenues for saving and help investors find their financing needs. The financial markets impact growth by channeling saving to firms and improving the allocation of capital. Moreover, efficient financial markets and institutions tend to lower search and transactions costs in the economy. 2. As the industrialized nations’ economies grew in the eighteenth, nineteenth and twentie
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
The role of the financial system is to intermediate between lenders and borrowers and provide avenues for saving and help investors find their financing needs. The financial markets impact growth by channeling saving to firms and improving the allocation of capital. Moreover, efficient financial markets and institutions tend to lower search and transactions costs in the economy. 2. As the industrialized nations’ economies grew in the eighteenth, nineteenth and twentie
സെപ്റ്റം 02, 2014
Financial Intermediation for All – Economic Growth with Equity
At the very outset, I thank Dun & Bradstreet for the kind invitation to address the Financial Inclusion conclave today. I attach a great deal of value to this interaction. Financial Inclusion Financial Inclusion is defined as the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair a
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
At the very outset, I thank Dun & Bradstreet for the kind invitation to address the Financial Inclusion conclave today. I attach a great deal of value to this interaction. Financial Inclusion Financial Inclusion is defined as the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair a
ഓഗ 22, 2014
Danger Posed by Shadow Banking Systems to the Global Financial System - The Indian Case
What is Shadow Banking? Shadow banking is a universal phenomenon, although it takes on different forms. In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitization; while in the economically backward economies where financial market is still in a developing stage, the activities are more of supplementary to banking activities. However, in both the structures, shadow banking operates
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
What is Shadow Banking? Shadow banking is a universal phenomenon, although it takes on different forms. In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitization; while in the economically backward economies where financial market is still in a developing stage, the activities are more of supplementary to banking activities. However, in both the structures, shadow banking operates
ഓഗ 21, 2014
Real Estate and Housing - A Sensitive Sector or Samvriddhi Sector ?
Shri Navin Raheja, Chairman, National Real Estate Development Council, Shri Sunil Mantri, President, NAREDCO, members of NAREDCO, Ladies and Gentlemen, a warm good evening to all of you. I am very happy to be addressing you all at this valedictory session of the NAREDCO Conclave on Banking & Investment Reforms. Real estate and our economy 2. The term ‘real estate’ is defined1 as land, including the air above it, the ground below it, and any buildings or structures
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Shri Navin Raheja, Chairman, National Real Estate Development Council, Shri Sunil Mantri, President, NAREDCO, members of NAREDCO, Ladies and Gentlemen, a warm good evening to all of you. I am very happy to be addressing you all at this valedictory session of the NAREDCO Conclave on Banking & Investment Reforms. Real estate and our economy 2. The term ‘real estate’ is defined1 as land, including the air above it, the ground below it, and any buildings or structures
ഓഗ 12, 2014
Public Debt Management: Reflections on Strategy & Structure
I am thankful to the Centre for Public Policy, Indian Institute of Management, Bangalore and Prof. Charan Singh in particular for inviting me to this conference. As suggested by the organizers, I would like to share some thoughts on the strategy and structure of public debt management in India with the experts and enthusiasts gathered here. 2. Globally it is a well-recognised fact that countries need efficient and effective public debt management as public debt portfo
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
I am thankful to the Centre for Public Policy, Indian Institute of Management, Bangalore and Prof. Charan Singh in particular for inviting me to this conference. As suggested by the organizers, I would like to share some thoughts on the strategy and structure of public debt management in India with the experts and enthusiasts gathered here. 2. Globally it is a well-recognised fact that countries need efficient and effective public debt management as public debt portfo
ഓഗ 11, 2014
Finance and Opportunity in India
The late Mr. Lalit Doshi was an IAS officer who passed away at the young age of 52 in 1994. He had a distinguished official career even though it was cruelly cut short. Lalit Doshi was one of those bureaucrats who have constituted the steel frame of this country. It was said of him: "He always had a smile on his face irrespective of the magnitude and the tension of work". In these days where work seems perpetual and overwhelming, he sounds like someone who it would ha
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
The late Mr. Lalit Doshi was an IAS officer who passed away at the young age of 52 in 1994. He had a distinguished official career even though it was cruelly cut short. Lalit Doshi was one of those bureaucrats who have constituted the steel frame of this country. It was said of him: "He always had a smile on his face irrespective of the magnitude and the tension of work". In these days where work seems perpetual and overwhelming, he sounds like someone who it would ha
ഓഗ 06, 2014
FEMA administration- Prospects and Challenges
1. It is a great pleasure and privilege to be here today. I thank the Kuwait/Muscat Chapter of the Institute of Chartered Accountants of India for the unique opportunity to address its members and a cross section of Indian population in the Gulf Region. The Institute has set high standards in professionalism and contributed greatly to the development of the corporate business. It is heartening to note that the Institute has a large presence in this region and that the
Shri G Padmanabhan, Executive Director, Reserve Bank of India
1. It is a great pleasure and privilege to be here today. I thank the Kuwait/Muscat Chapter of the Institute of Chartered Accountants of India for the unique opportunity to address its members and a cross section of Indian population in the Gulf Region. The Institute has set high standards in professionalism and contributed greatly to the development of the corporate business. It is heartening to note that the Institute has a large presence in this region and that the
ജൂലൈ 25, 2014
Rural Finance: Issues & Challenges
At the outset, I thank National Bank for Agriculture and Rural Development (NABARD) for inviting me to this esteemed gathering of experts in the field of rural finance. I am happy that NABARD has organised this National Seminar to mark the completion of 32 years of its existence. Built upon the legacy of Agricultural Credit Department of the Reserve Bank of India and the Agriculture Refinance Development Corporation (ARDC), NABARD today has carved for itself a special
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
At the outset, I thank National Bank for Agriculture and Rural Development (NABARD) for inviting me to this esteemed gathering of experts in the field of rural finance. I am happy that NABARD has organised this National Seminar to mark the completion of 32 years of its existence. Built upon the legacy of Agricultural Credit Department of the Reserve Bank of India and the Agriculture Refinance Development Corporation (ARDC), NABARD today has carved for itself a special
ജൂലൈ 24, 2014
Unconventional Monetary Policy and the Indian Economy
I thank Governor Cabraal for this opportunity to share with you our experience in handling the spillover from unconventional monetary policy being followed by many advanced economies. Conventionally, central banks operate monetary policy with an interest rate instrument. For example, they raise the policy interest rate to signal a tighter monetary policy and vice versa. However, this procedure has limits. In abnormal times, if central banks were to sharply loosen thei
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank Governor Cabraal for this opportunity to share with you our experience in handling the spillover from unconventional monetary policy being followed by many advanced economies. Conventionally, central banks operate monetary policy with an interest rate instrument. For example, they raise the policy interest rate to signal a tighter monetary policy and vice versa. However, this procedure has limits. In abnormal times, if central banks were to sharply loosen thei
ജൂലൈ 14, 2014
Role of Financial Sector in the Growth of the Southern Region – A Question of Balancing
Good Morning Ladies and Gentlemen! 2. The importance and the lead role of financial sector for economic development attracted the attention of economists, policy makers as well as executors. According to Goldsmith (1969:400), “mobilizing liquid resource accelerates economic growth and improves economic performance to the extent that it facilitates the migration of funds to the best user, i.e. to the place in the economic system where the funds will find the highest so
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Good Morning Ladies and Gentlemen! 2. The importance and the lead role of financial sector for economic development attracted the attention of economists, policy makers as well as executors. According to Goldsmith (1969:400), “mobilizing liquid resource accelerates economic growth and improves economic performance to the extent that it facilitates the migration of funds to the best user, i.e. to the place in the economic system where the funds will find the highest so
ജൂൺ 30, 2014
Banks in India: Challenges & Opportunities
Smt. Arundhati Bhattacharya, Chairman, State Bank of India, Shri. Deepak Parekh, Chairman HDFC, Shri. V. G. Kannan, Chairman, SBI Cap Securities Ltd., Shri. Mani Palivesan, Managing Director, SBI Cap Securities Ltd, distinguished panelists and participants. It is a pleasure to address the BFSI Conference 2014 which features panel discussions on topical issues in banking. The first panel discussion, interestingly, is on Disruptive Themes for Next Decade. The word disru
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Smt. Arundhati Bhattacharya, Chairman, State Bank of India, Shri. Deepak Parekh, Chairman HDFC, Shri. V. G. Kannan, Chairman, SBI Cap Securities Ltd., Shri. Mani Palivesan, Managing Director, SBI Cap Securities Ltd, distinguished panelists and participants. It is a pleasure to address the BFSI Conference 2014 which features panel discussions on topical issues in banking. The first panel discussion, interestingly, is on Disruptive Themes for Next Decade. The word disru
ജൂൺ 30, 2014
Governance in the Corporate Sector – Certain Perspectives
Mr. Sridharan, President, Institute of Company Secretaries of India (ICSI), Mr. Khare Vice-President, Mr. Sahoo, ladies and gentlemen. Good afternoon. It is my pleasure and privilege to address this gathering today at the conclusion of the 15th National Conference of Practicing Company Secretaries (PCS) held under the aegis of ICSI. When my good friend Mr. Sahoo asked me to address this august gathering, I accepted with alacrity since I am aware that the ICSI has been
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Mr. Sridharan, President, Institute of Company Secretaries of India (ICSI), Mr. Khare Vice-President, Mr. Sahoo, ladies and gentlemen. Good afternoon. It is my pleasure and privilege to address this gathering today at the conclusion of the 15th National Conference of Practicing Company Secretaries (PCS) held under the aegis of ICSI. When my good friend Mr. Sahoo asked me to address this august gathering, I accepted with alacrity since I am aware that the ICSI has been
ജൂൺ 17, 2014
Financial Sector Legislative Reforms Committee Report (FSLRC): What to do and when?
The Financial Sector Legislative Reforms Committee (FSLRC) Report is one of the most important, well researched, as well as well-publicized reports in Indian financial history. It not only lays out the functions of the financial sector and how it should be structured, but also how legislation and regulation governing it ought to look like. The authors of this report truly have to be commended for their national service. The report’s influence will be felt for many yea
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
The Financial Sector Legislative Reforms Committee (FSLRC) Report is one of the most important, well researched, as well as well-publicized reports in Indian financial history. It not only lays out the functions of the financial sector and how it should be structured, but also how legislation and regulation governing it ought to look like. The authors of this report truly have to be commended for their national service. The report’s influence will be felt for many yea
ജൂൺ 17, 2014
Role of NBFCs in Financial Sector: Regulatory Challenges
Good evening Ladies and Gentlemen. 2. It is with a great feeling of pride that I stand before you to deliver this oration in memory of the legendary Frank Moraes. I congratulate the United Writers Association and Frank Moraes Foundation for regularly organizing the distinguished Frank Moraes Oration lecture. I join everyone here in congratulating Chevalier Dr. K. Thiagarajan on being accorded with the prestigious Celebrity Champion Honour instituted by Community Welfa
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Good evening Ladies and Gentlemen. 2. It is with a great feeling of pride that I stand before you to deliver this oration in memory of the legendary Frank Moraes. I congratulate the United Writers Association and Frank Moraes Foundation for regularly organizing the distinguished Frank Moraes Oration lecture. I join everyone here in congratulating Chevalier Dr. K. Thiagarajan on being accorded with the prestigious Celebrity Champion Honour instituted by Community Welfa
ജൂൺ 16, 2014
Indian Banking Sector: Role in Triggering Future Growth
Good evening, Ladies and Gentlemen! 2. It is both an honour and a privilege to attend this important Conference at the Indian Chamber of Commerce (ICC) in Kolkata. From humble beginnings in the early 1920s, the ICC has come a long way and has presently evolved into a leading national chamber operating from Kolkata. With banks being the mainstay of the financial system, I am sure that the deliberations in the Conference would have provided important insights to all att
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Good evening, Ladies and Gentlemen! 2. It is both an honour and a privilege to attend this important Conference at the Indian Chamber of Commerce (ICC) in Kolkata. From humble beginnings in the early 1920s, the ICC has come a long way and has presently evolved into a leading national chamber operating from Kolkata. With banks being the mainstay of the financial system, I am sure that the deliberations in the Conference would have provided important insights to all att
ജൂൺ 10, 2014
New-Gen Urban Cooperative Banks - Some Musings
Dear Shri Jyotindra Mehta, Chairman, Gujarat Urban Cooperative Banks Federation, Shri V S Das, Director, Centre for Banking Research, Development & Excellence, other dignitaries and delegates. I feel specially privileged to address this Conference of urban co-operative banks, which is very aptly titled “Sahakar Setu-2014” focusing on the theme of “Next-Gen Co-operative Banks”. I am also happy to note that a Centre for Banking Research, Development & Excellence
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Dear Shri Jyotindra Mehta, Chairman, Gujarat Urban Cooperative Banks Federation, Shri V S Das, Director, Centre for Banking Research, Development & Excellence, other dignitaries and delegates. I feel specially privileged to address this Conference of urban co-operative banks, which is very aptly titled “Sahakar Setu-2014” focusing on the theme of “Next-Gen Co-operative Banks”. I am also happy to note that a Centre for Banking Research, Development & Excellence
ജൂൺ 02, 2014
Growing NPAs in Banks: Efficacy of Ratings Accountability & Transparency of Credit Rating Agencies
Shri Jajodia, Shri Narang, Shri Dubey, Shri Kulkarni, Shri Dogra, Shri Khanna, Shri Pathak, other distinguished speakers, Ladies and Gentlemen, a very good morning to everyone! To start with I would like to commend ASSOCHAM for this seminar, for bringing together experts from banking and rating industry, to discuss and debate upon this very pertinent and challenging subject of NPAs and credit rating. A subject like this needs a lot of discussion and thinking, because
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Shri Jajodia, Shri Narang, Shri Dubey, Shri Kulkarni, Shri Dogra, Shri Khanna, Shri Pathak, other distinguished speakers, Ladies and Gentlemen, a very good morning to everyone! To start with I would like to commend ASSOCHAM for this seminar, for bringing together experts from banking and rating industry, to discuss and debate upon this very pertinent and challenging subject of NPAs and credit rating. A subject like this needs a lot of discussion and thinking, because
മേയ് 28, 2014
Concerns about Competitive Monetary Easing
Good morning. The world seems to be struggling back to its feet after the great financial crisis, and financial markets are buoyant. This is partly because central bankers are collectively engaged in extreme monetary easing through unconventional policies. I have two worries about this environment. First, unconventional policies tend to be feasible when domestic commercial banks are willing to accumulate significant central bank reserves without question. But those ar
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Good morning. The world seems to be struggling back to its feet after the great financial crisis, and financial markets are buoyant. This is partly because central bankers are collectively engaged in extreme monetary easing through unconventional policies. I have two worries about this environment. First, unconventional policies tend to be feasible when domestic commercial banks are willing to accumulate significant central bank reserves without question. But those ar
മേയ് 26, 2014
KYC : Compliance vs Convenience
Is KYC a recent phenomenon? KYC was always there in banking! The focus, earlier, was more on the asset side and not on the liability side as no banker could risk parting with his funds to an unknown person. The thorough appraisal process to screen the potential borrowers is a good example of KYC process. Then, issues such as illegal/black money and more recently, terrorism financing became matters of serious concern and then KYC on payments and remittances, and conseq
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Is KYC a recent phenomenon? KYC was always there in banking! The focus, earlier, was more on the asset side and not on the liability side as no banker could risk parting with his funds to an unknown person. The thorough appraisal process to screen the potential borrowers is a good example of KYC process. Then, issues such as illegal/black money and more recently, terrorism financing became matters of serious concern and then KYC on payments and remittances, and conseq
മേയ് 20, 2014
Banks Must build a Structure to provide Superior and Efficient Customer Service
Respected Shri Mahajan, Smt Rama Bijapurkar, member, Governing Council, Banking Standards Codes and Standards Board of India (BCSBI), Shri N Raja, CEO, BCSBI and banker colleagues. At the very outset, I thank Shri Mahajan, Chairman, BCSBI for the kind invitation to address Principal Code Compliance Officers of the BCSBI, this afternoon. I attach a great deal of value to this interaction. The day long deliberations will provide you the opportunity to Brainstorm with PC
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
Respected Shri Mahajan, Smt Rama Bijapurkar, member, Governing Council, Banking Standards Codes and Standards Board of India (BCSBI), Shri N Raja, CEO, BCSBI and banker colleagues. At the very outset, I thank Shri Mahajan, Chairman, BCSBI for the kind invitation to address Principal Code Compliance Officers of the BCSBI, this afternoon. I attach a great deal of value to this interaction. The day long deliberations will provide you the opportunity to Brainstorm with PC
മേയ് 20, 2014
Competition in the Banking Sector: Opportunities and Challenges
Good evening. Shri Ashok Chawla, distinguished invitees, our friends from the press, and ladies and gentlemen: It is a great honour to be invited to deliver the Annual Day lecture at the Competition Commission of India. Competition is the life force of a modern economy – it replaces dated and inefficient methods while preserving valuable traditions; it rewards the innovative and energetic and punishes the merely connected; it destroys the stability of the status quo w
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Good evening. Shri Ashok Chawla, distinguished invitees, our friends from the press, and ladies and gentlemen: It is a great honour to be invited to deliver the Annual Day lecture at the Competition Commission of India. Competition is the life force of a modern economy – it replaces dated and inefficient methods while preserving valuable traditions; it rewards the innovative and energetic and punishes the merely connected; it destroys the stability of the status quo w
മേയ് 13, 2014
Credit Scoring
Shri R.K. Dubey, Chairman and Managing Director, Canara Bank of India, other distinguished guests, ladies and gentlemen. I am happy to be here for the launch of Canara Bank’s credit scoring model for MSMEs. We had recently on November 29, 2013 held a workshop on credit scoring models with experts from IFC, which was fundamentally aimed at capacity building in the banking sector by imparting practical knowhow to Bankers who are expected to use it in their day-to-day op
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
Shri R.K. Dubey, Chairman and Managing Director, Canara Bank of India, other distinguished guests, ladies and gentlemen. I am happy to be here for the launch of Canara Bank’s credit scoring model for MSMEs. We had recently on November 29, 2013 held a workshop on credit scoring models with experts from IFC, which was fundamentally aimed at capacity building in the banking sector by imparting practical knowhow to Bankers who are expected to use it in their day-to-day op
മേയ് 09, 2014
Indian Banking at Crossroads – Challenge of Risk Management from Globalisation to Financial Inclusion
Shri Shailesh Vaidya, Chairman, Indian Merchants’ Chamber (IMC), Shri Chandan Bhattacharya, Chairman, Finance and Banking Committee, IMC and delegates to this IMC National Seminar, a very warm good evening! It is an honour for me to be here today to deliver the valedictory address of this National Seminar organised by IMC. The Seminar provides an opportunity to consider the developments in the banking risk management, assess the recent experience in this space and wor
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Shri Shailesh Vaidya, Chairman, Indian Merchants’ Chamber (IMC), Shri Chandan Bhattacharya, Chairman, Finance and Banking Committee, IMC and delegates to this IMC National Seminar, a very warm good evening! It is an honour for me to be here today to deliver the valedictory address of this National Seminar organised by IMC. The Seminar provides an opportunity to consider the developments in the banking risk management, assess the recent experience in this space and wor
ഏപ്രി 23, 2014
Framework for the conduct of macroprudential policy in India: experiences and perspectives
(Reproduced with permission from Financial Stability Review, April 2014 published by Banque de France)
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
(Reproduced with permission from Financial Stability Review, April 2014 published by Banque de France)
ഏപ്രി 22, 2014
Currency Management in India: Issues and Challenges
Mr. Tom Ferguson, Chairman, Banknote Conference 2014; Mr. Tim Vigotsky, Director, Banknote Conference 2014, my fellow speakers - Mr. Barna Barabas, DMD, Jura Security Printing Alliance; Dr. Wolfram Seidemann, Managing Director, Louisenthal; other delegates; ladies & gentlemen. At the outset, I thank the organizers of Banknote Conference 2014 for inviting me to speak at this august gathering. From the contents of the Conference Schedule and from the feedback that I
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mr. Tom Ferguson, Chairman, Banknote Conference 2014; Mr. Tim Vigotsky, Director, Banknote Conference 2014, my fellow speakers - Mr. Barna Barabas, DMD, Jura Security Printing Alliance; Dr. Wolfram Seidemann, Managing Director, Louisenthal; other delegates; ladies & gentlemen. At the outset, I thank the organizers of Banknote Conference 2014 for inviting me to speak at this august gathering. From the contents of the Conference Schedule and from the feedback that I
ഏപ്രി 21, 2014
Regulating Capital Account: Some Thoughts
1. It gives me great pleasure to be with you in this beautiful city of Cape Town for the 9thAnnual Conference of the Foreign Exchange Dealers Association of India (FEDAI). Cape Town is a celebrated tourist destination, particularly at this time of the year. The place and time are ideal for mixing business with pleasure. For me, speaking to you, the pleasure is mixed with some trepidation because we are living in times when there is uncertainty all round not only in th
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
1. It gives me great pleasure to be with you in this beautiful city of Cape Town for the 9thAnnual Conference of the Foreign Exchange Dealers Association of India (FEDAI). Cape Town is a celebrated tourist destination, particularly at this time of the year. The place and time are ideal for mixing business with pleasure. For me, speaking to you, the pleasure is mixed with some trepidation because we are living in times when there is uncertainty all round not only in th
ഏപ്രി 10, 2014
Competitive Monetary Easing: Is it yesterday once more?
Good morning. As the world seems to be struggling back to its feet after the great financial crisis, I want to draw attention to an area we need to be concerned about: the conduct of monetary policy in this integrated world. A good way to describe the current environment is one of extreme monetary easing through unconventional policies. In a world where debt overhangs and the need for structural change constrain domestic demand, a sizeable portion of the effects of su
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Good morning. As the world seems to be struggling back to its feet after the great financial crisis, I want to draw attention to an area we need to be concerned about: the conduct of monetary policy in this integrated world. A good way to describe the current environment is one of extreme monetary easing through unconventional policies. In a world where debt overhangs and the need for structural change constrain domestic demand, a sizeable portion of the effects of su
ഏപ്രി 02, 2014
Regulation of Indian Debt & Derivatives Markets: Some perspectives on post-crisis paradigm
Shri. N. S. Venkatesh, Chairman, Fixed Income Money Market Derivatives Association (FIMMDA), Shri B. Prasanna, Chairman, Primary Dealers Association of India (PDAI), Sri. C.E.S. Azariah, outgoing Chief Executive Officer and Shri Prasad, incoming CEO of the FIMMDA, distinguished speakers and panellists and delegates to the conference. It gives me immense pleasure to be amidst you all for the 15th annual meeting of the FIMMDA and the PDAI in this beautiful, historic cit
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Shri. N. S. Venkatesh, Chairman, Fixed Income Money Market Derivatives Association (FIMMDA), Shri B. Prasanna, Chairman, Primary Dealers Association of India (PDAI), Sri. C.E.S. Azariah, outgoing Chief Executive Officer and Shri Prasad, incoming CEO of the FIMMDA, distinguished speakers and panellists and delegates to the conference. It gives me immense pleasure to be amidst you all for the 15th annual meeting of the FIMMDA and the PDAI in this beautiful, historic cit
ഏപ്രി 01, 2014
Inclusion, Growth and Governance- Issues and Way Forward
Lord Meghnad Desai, Professor Emeritus, London School of Economics; Shri Rana Kapoor, Managing Director & CEO, Yes Bank and President, ASSOCHAM; Shri Sameer Kochhar, Chairman, SKOCH Group; members of the print and electronic media; ladies and gentlemen! It is a pleasure and privilege for me to be present here today at the inaugural session of this SKOCH Summit which features the theme of ‘Inclusion, Growth and Governance’. The theme of the conference is particular
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Lord Meghnad Desai, Professor Emeritus, London School of Economics; Shri Rana Kapoor, Managing Director & CEO, Yes Bank and President, ASSOCHAM; Shri Sameer Kochhar, Chairman, SKOCH Group; members of the print and electronic media; ladies and gentlemen! It is a pleasure and privilege for me to be present here today at the inaugural session of this SKOCH Summit which features the theme of ‘Inclusion, Growth and Governance’. The theme of the conference is particular
മാർ 25, 2014
Strengthening and Revitalising Rural Cooperative Credit Delivery System
1. I am extremely happy to be with you today and thank Dr. Harsh Kumar Bhanwala, Chairman, NABARD and the organizers of this National Meet of State Cooperative Banks for inviting me to share the Reserve Bank's perspectives. 2. Since inception the Indian Cooperative movement was initiated by the Government to align the rural credit system with the objectives of development planning. The RBI played an important role. The RBI's concern and involvement in the sphere of ru
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
1. I am extremely happy to be with you today and thank Dr. Harsh Kumar Bhanwala, Chairman, NABARD and the organizers of this National Meet of State Cooperative Banks for inviting me to share the Reserve Bank's perspectives. 2. Since inception the Indian Cooperative movement was initiated by the Government to align the rural credit system with the objectives of development planning. The RBI played an important role. The RBI's concern and involvement in the sphere of ru
മാർ 21, 2014
Transforming Credit Information into Action: Issues and Challenges
Shri M.V.Nair, Chairman, CIBIL; Shri R.V.Verma, CMD, National Housing Bank; Shri M.V.Tanksale, Chief Executive, Indian Banks’ Association; Shri Rajiv Sabharwal, Executive Director, ICICI Bank; Shri Arun Thukral, Managing Director, CIBIL; Shri Satish Pillai, Chief Operating Officer, CIBIL; delegates to the Conference; friends from the media fraternity; ladies and gentlemen! It is a pleasure for me to be present here this morning to deliver the keynote address at the Si
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri M.V.Nair, Chairman, CIBIL; Shri R.V.Verma, CMD, National Housing Bank; Shri M.V.Tanksale, Chief Executive, Indian Banks’ Association; Shri Rajiv Sabharwal, Executive Director, ICICI Bank; Shri Arun Thukral, Managing Director, CIBIL; Shri Satish Pillai, Chief Operating Officer, CIBIL; delegates to the Conference; friends from the media fraternity; ladies and gentlemen! It is a pleasure for me to be present here this morning to deliver the keynote address at the Si
മാർ 11, 2014
Efficient systems and Proficient banks
Shri Sambamurthy, Dr Ramasastri, Dr Gulshan Rai, CIOs of banks, faculty and staff of IDRBT, ladies and gentlemen. I would like to express my gratitude to the Director for inviting me to deliver the keynote address at the two day Conference for the Chief Information Officers (CIO) of banks. I addressed a similar forum of CIOs in December 2012 at this very venue. I recollect that I had left the audience with a few questions for further deliberations in the Conference. I
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Shri Sambamurthy, Dr Ramasastri, Dr Gulshan Rai, CIOs of banks, faculty and staff of IDRBT, ladies and gentlemen. I would like to express my gratitude to the Director for inviting me to deliver the keynote address at the two day Conference for the Chief Information Officers (CIO) of banks. I addressed a similar forum of CIOs in December 2012 at this very venue. I recollect that I had left the audience with a few questions for further deliberations in the Conference. I
മാർ 04, 2014
Financial Inclusion - The Indian Model – Challenges and Prospects
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
ഫെബ്രു 26, 2014
Fighting Inflation
Thank you for inviting me. The Fixed Income Money Market and Derivatives Association of India (FIMMDA) has been playing an important role in the Indian bond, money and derivatives markets. It has been working with the Reserve Bank in various capacities and has helped us address emerging challenges. I thank all of you for that. The sessions in the conference are all of current interest, and therefore I have chosen to speak on an issue, inflation, which is of paramount
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Thank you for inviting me. The Fixed Income Money Market and Derivatives Association of India (FIMMDA) has been playing an important role in the Indian bond, money and derivatives markets. It has been working with the Reserve Bank in various capacities and has helped us address emerging challenges. I thank all of you for that. The sessions in the conference are all of current interest, and therefore I have chosen to speak on an issue, inflation, which is of paramount
ഫെബ്രു 25, 2014
Bold face of India’s economy speaks out
Emerging markets Jacob Greber and Greg Earl report on governor with an impeccable pedigree Raghuram Rajan represents the bold face of India’s potential new economy – ­impeccably credentialed, upbeat and ready to force himself onto centre stage in the ­global debate about the reshaping of the world economy. Appointed as governor of the Reserve Bank of India in September, Rajan has taken no time to make himself heard in international financial markets. Last month he too
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Emerging markets Jacob Greber and Greg Earl report on governor with an impeccable pedigree Raghuram Rajan represents the bold face of India’s potential new economy – ­impeccably credentialed, upbeat and ready to force himself onto centre stage in the ­global debate about the reshaping of the world economy. Appointed as governor of the Reserve Bank of India in September, Rajan has taken no time to make himself heard in international financial markets. Last month he too
ഫെബ്രു 15, 2014
Financial Regulation: Which Way Forward?
I thank Prof. Rajas Parchure for inviting me to this Economic Conclave at the Gokhale Institute. The Conclave has brought together eminent scholars and policy practitioners to brainstorm on issues of contemporary relevance to the Indian economy. Such interchange of ideas is important not only in encouraging research but also in shaping the contours of policymaking. While the recent global financial crisis taught us several lessons, one key message has been the weaknes
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank Prof. Rajas Parchure for inviting me to this Economic Conclave at the Gokhale Institute. The Conclave has brought together eminent scholars and policy practitioners to brainstorm on issues of contemporary relevance to the Indian economy. Such interchange of ideas is important not only in encouraging research but also in shaping the contours of policymaking. While the recent global financial crisis taught us several lessons, one key message has been the weaknes
ഫെബ്രു 13, 2014
Inclusive Growth and the Role Technology Can Play in It
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
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
ഫെബ്രു 12, 2014
Financial Inclusion: Technology, Institutions and Policies
Distinguished members of NASSCOM and distinguished guests: Thank you for inviting me to speak here today. The Indian information and communications technology industry that you represent has a proud history of accomplishment. You have done India great service, not just by creating a world class industry but also by showing the rest of us what is possible. I am hopeful that financial firms can join hands with you to build a technology-enabled financial sector that can
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Distinguished members of NASSCOM and distinguished guests: Thank you for inviting me to speak here today. The Indian information and communications technology industry that you represent has a proud history of accomplishment. You have done India great service, not just by creating a world class industry but also by showing the rest of us what is possible. I am hopeful that financial firms can join hands with you to build a technology-enabled financial sector that can
ഫെബ്രു 07, 2014
Human Resource Challenges in Indian banks: ‘Foolproof’ing the employees
Smt. Meena Hemchandra, Principal, College of Agricultural Banking (CAB), Pune; Shri R.K.Gupta, Executive Director, Bank of Maharashtra; delegates to the Conference; ladies and gentlemen! I thank the Principal, CAB for inviting me to inaugurate this conference of HR heads of banks and financial institutions. I feel the choice of theme for the Conference i.e. “Future Proofing of Banking Personnel” is quite interesting. Given that this Conference is now in its 7th year,
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Smt. Meena Hemchandra, Principal, College of Agricultural Banking (CAB), Pune; Shri R.K.Gupta, Executive Director, Bank of Maharashtra; delegates to the Conference; ladies and gentlemen! I thank the Principal, CAB for inviting me to inaugurate this conference of HR heads of banks and financial institutions. I feel the choice of theme for the Conference i.e. “Future Proofing of Banking Personnel” is quite interesting. Given that this Conference is now in its 7th year,
ഫെബ്രു 03, 2014
Indian Banking: the New Landscape
Sukumar and Tamal, thank you very much, for this invite. I am happy to note that you and your paper- the Mint, have been focussing on the process of change for the Indian banking that is presently underway. I see that in many of its writings. By organizing this discussion on ‘Indian Banking: The New Landscape’, it will further spur thoughts and debates in this area. That this discussion has drawn several doyens of the Indian banking, is a testimony to the importance o
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Sukumar and Tamal, thank you very much, for this invite. I am happy to note that you and your paper- the Mint, have been focussing on the process of change for the Indian banking that is presently underway. I see that in many of its writings. By organizing this discussion on ‘Indian Banking: The New Landscape’, it will further spur thoughts and debates in this area. That this discussion has drawn several doyens of the Indian banking, is a testimony to the importance o
ജനു 29, 2014
Strategy adopted for Financial Inclusion
One of the major challenges for next decade or more to banks in the country is to capture the banking business of over 50% population of this country of over 1.2 billion people. Poor people need to be provided with access to financial products at low transaction cost. They need to be provided assistance on the demand side (in terms of financial awareness and literacy) as well as on the supply side (in the form of availability of customized financial products). Taking
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
One of the major challenges for next decade or more to banks in the country is to capture the banking business of over 50% population of this country of over 1.2 billion people. Poor people need to be provided with access to financial products at low transaction cost. They need to be provided assistance on the demand side (in terms of financial awareness and literacy) as well as on the supply side (in the form of availability of customized financial products). Taking
ജനു 24, 2014
Non-Banking Finance Companies: Game Changers
Introduction The Indian financial sector consists of a wide variety of institutions which cater to different market segments. At the apex level are scheduled commercial banks which follow universal banking model. Next, there is the cooperative banking sector with two different strands. While the three Tier rural co-operative structure (State/District/grassroot level outfits), takes care predominantly of agriculture and allied activities; the urban co-operative banking
Shri P. Vijaya Bhaskar, Executive Director, Reserve Bank of India
Introduction The Indian financial sector consists of a wide variety of institutions which cater to different market segments. At the apex level are scheduled commercial banks which follow universal banking model. Next, there is the cooperative banking sector with two different strands. While the three Tier rural co-operative structure (State/District/grassroot level outfits), takes care predominantly of agriculture and allied activities; the urban co-operative banking
ജനു 20, 2014
Recent Global Developments: Implications for Debt Management in Emerging Markets and Developing Countries
A very good morning to all. A warm welcome to Governor, Central Bank of Afghanistan, Deputy Governors of Bhutan and Nepal, officials from Government of India, executives of SAARC Secretariat and member countries and my colleagues from the Reserve Bank of India to the beautiful city of Jaipur. My special welcome to chairpersons and speakers for having accepted our invitation to share their expertise/knowledge on different areas of debt management with all of us. 2. A l
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
A very good morning to all. A warm welcome to Governor, Central Bank of Afghanistan, Deputy Governors of Bhutan and Nepal, officials from Government of India, executives of SAARC Secretariat and member countries and my colleagues from the Reserve Bank of India to the beautiful city of Jaipur. My special welcome to chairpersons and speakers for having accepted our invitation to share their expertise/knowledge on different areas of debt management with all of us. 2. A l
ജനു 15, 2014
Global Liquidity and Financial Contagion
I thank Mrs. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL) for the opportunity of being a part of this very distinguished panel. With the “great moderation” of high growth and low inflation, consideration of liquidity almost fell off from the lexicon of central banks. Arguably, with central banks targeting interest rates, liquidity becomes endogenous. Of course, liquidity is the flip side of the same coin. If one were to target a
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank Mrs. Usha Thorat, Director, Centre for Advanced Financial Research and Learning (CAFRAL) for the opportunity of being a part of this very distinguished panel. With the “great moderation” of high growth and low inflation, consideration of liquidity almost fell off from the lexicon of central banks. Arguably, with central banks targeting interest rates, liquidity becomes endogenous. Of course, liquidity is the flip side of the same coin. If one were to target a
ജനു 13, 2014
Why is Recent Food Inflation in India so Persistent?
It is an honour for me to deliver this year’s Annual Lalit Doshi Memorial Lecture. I thank Principal Dr. Fr. Frazer Mascarenhas, Dr. Aditi Sawant and Ms. Nikita Kohli for this opportunity. The St. Xavier's College has the distinction of producing many leaders and intellectuals, and Lalit Doshi was a giant among them. He was an accomplished economic administrator and thinker. He made immense policy contributions to aid the industrial progress in our country, and in par
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
It is an honour for me to deliver this year’s Annual Lalit Doshi Memorial Lecture. I thank Principal Dr. Fr. Frazer Mascarenhas, Dr. Aditi Sawant and Ms. Nikita Kohli for this opportunity. The St. Xavier's College has the distinction of producing many leaders and intellectuals, and Lalit Doshi was a giant among them. He was an accomplished economic administrator and thinker. He made immense policy contributions to aid the industrial progress in our country, and in par
ഡിസം 26, 2013
Unconventional Monetary Policy: The Indian Experience with Crisis Response and Policy Exit
I thank Principal Uma Subramaniam for this opportunity to interact with you on unconventional monetary policy. The seminar is topical and timely. It is now 5 years since the collapse of the Lehman Brothers in September 2008, which evoked unprecedented monetary policy activism – both conventional and unconventional - across the advanced and emerging market economies (EMEs). It is for the first time on December 18, 2013 that the US Fed announced concrete measures to exi
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank Principal Uma Subramaniam for this opportunity to interact with you on unconventional monetary policy. The seminar is topical and timely. It is now 5 years since the collapse of the Lehman Brothers in September 2008, which evoked unprecedented monetary policy activism – both conventional and unconventional - across the advanced and emerging market economies (EMEs). It is for the first time on December 18, 2013 that the US Fed announced concrete measures to exi
ഡിസം 19, 2013
Economic and Financial Developments in Mizoram
I am happy to be in this picturesque state of Mizoram, the land of rolling hills, valleys, rivers and lakes. The state has a strategic location as it shares much of its border with Bangladesh and Myanmar. It covers 0.6 per cent of the national geographic area and accounts for 0.1 per cent of national population. With second highest literacy rate in the country, the state has great potential for economic development. Access to finance is an important prerequisite for e
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I am happy to be in this picturesque state of Mizoram, the land of rolling hills, valleys, rivers and lakes. The state has a strategic location as it shares much of its border with Bangladesh and Myanmar. It covers 0.6 per cent of the national geographic area and accounts for 0.1 per cent of national population. With second highest literacy rate in the country, the state has great potential for economic development. Access to finance is an important prerequisite for e
ഡിസം 13, 2013
NISM Conference on Ethics and Corporate Governance
Introduction At the outset, let me congratulate the organisers for this topical choice of subject, one which concerns us all. I thank Director, National Institute of Securities Markets, Dr.Sandip Ghose and the Institute of Company Secretaries for having me here and my dear friend, Prashant Saran, for that brilliant opening address, which quite sets the tone for this panel. Que Custodiet Ipso Custodes? Who will guard the guards ? Over the last two decades, corporate go
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
Introduction At the outset, let me congratulate the organisers for this topical choice of subject, one which concerns us all. I thank Director, National Institute of Securities Markets, Dr.Sandip Ghose and the Institute of Company Secretaries for having me here and my dear friend, Prashant Saran, for that brilliant opening address, which quite sets the tone for this panel. Que Custodiet Ipso Custodes? Who will guard the guards ? Over the last two decades, corporate go
ഡിസം 12, 2013
Financial Sector Reforms
The economy is stabilizing, but there is no room for complacency. Some part of improvement in the CAD has happened due to suppressing gold imports. Not all the measures to reduce fiscal deficit are of high quality. We have considerable work to do still. At the same time the country faces elections next year. A stable government post elections, while likely, cannot be taken for granted. This implies that all parties have to work together today to ensure that any govern
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
The economy is stabilizing, but there is no room for complacency. Some part of improvement in the CAD has happened due to suppressing gold imports. Not all the measures to reduce fiscal deficit are of high quality. We have considerable work to do still. At the same time the country faces elections next year. A stable government post elections, while likely, cannot be taken for granted. This implies that all parties have to work together today to ensure that any govern
ഡിസം 10, 2013
Financial Inclusion in India – An Assessment
“Overcoming poverty is not a gesture of charity. It is an act of justice. It is the protection of a fundamental human right, the right to dignity and a decent life. While poverty persists, there is no true freedom. Sometimes it falls upon a generation to be great. You can be that great generation. Let your greatness blossom. Of course, the task will not be easy. But not to do this would be a crime against humanity, against which I ask all humanity now to rise up." - N
Shri P. Vijaya Bhaskar, Executive Director, Reserve Bank of India
“Overcoming poverty is not a gesture of charity. It is an act of justice. It is the protection of a fundamental human right, the right to dignity and a decent life. While poverty persists, there is no true freedom. Sometimes it falls upon a generation to be great. You can be that great generation. Let your greatness blossom. Of course, the task will not be easy. But not to do this would be a crime against humanity, against which I ask all humanity now to rise up." - N
ഡിസം 09, 2013
Moving Financial Capability Forward: Innovation Scale and Impact
Dear friends , I am honoured to be here today at the tenth anniversary of the summit on financial literacy and thank Citi and FT for having me here, and of course, my friend David Pilling for the opportunity to share the India experience. David we are out of the woods! I confirm this. As all the people in this room know, financial literacy has emerged as a focus area for policy makers all across the globe, in the wake of the global financial crisis. Financial literacy
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
Dear friends , I am honoured to be here today at the tenth anniversary of the summit on financial literacy and thank Citi and FT for having me here, and of course, my friend David Pilling for the opportunity to share the India experience. David we are out of the woods! I confirm this. As all the people in this room know, financial literacy has emerged as a focus area for policy makers all across the globe, in the wake of the global financial crisis. Financial literacy
ഡിസം 05, 2013
Administering FEMA - Evolving Challenges
DG Shri H R Khan, Chairman, Foreign Exchange Dealers Association of India, Officials from the Authorised Dealer Banks, and my colleagues from RBI from all over the country, 1. A very good morning and welcome to this historic city of Agra. It is customary in these annual gatherings to take stock of the developments in the area of foreign exchange management over the preceding one year and discuss the context and content of the in-the-pipeline changes contemplated. The
Shri G Padmanabhan, Executive Director, Reserve Bank of India
DG Shri H R Khan, Chairman, Foreign Exchange Dealers Association of India, Officials from the Authorised Dealer Banks, and my colleagues from RBI from all over the country, 1. A very good morning and welcome to this historic city of Agra. It is customary in these annual gatherings to take stock of the developments in the area of foreign exchange management over the preceding one year and discuss the context and content of the in-the-pipeline changes contemplated. The
ഡിസം 04, 2013
Credit Scoring – An effective way to ensure availability of timely and adequate credit to MSEs
Ms. Jennifer Isern, Manager, South Asia Advisory Services, International Finance Corporation (IFC); Shri S.K. Dubey, CMD, Canara Bank; Shri H.S.U. Kamath, CMD, Vijaya Bank; Smt. Archana Bhargava, CMD, United Bank of India; Shri Ashwini Kumar, CMD, Dena Bank; Shri S.R. Bansal, CMD, Corporation Bank; Shri Sushil Muhnot, CMD, Bank of Maharashtra; Dr. Deepali Pant Joshi, Executive Director, Reserve Bank of India; Executive Directors and other senior officials from various
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Ms. Jennifer Isern, Manager, South Asia Advisory Services, International Finance Corporation (IFC); Shri S.K. Dubey, CMD, Canara Bank; Shri H.S.U. Kamath, CMD, Vijaya Bank; Smt. Archana Bhargava, CMD, United Bank of India; Shri Ashwini Kumar, CMD, Dena Bank; Shri S.R. Bansal, CMD, Corporation Bank; Shri Sushil Muhnot, CMD, Bank of Maharashtra; Dr. Deepali Pant Joshi, Executive Director, Reserve Bank of India; Executive Directors and other senior officials from various
നവം 29, 2013
Financial Inclusion - Journey so far and Road Ahead
1. Mr Tamal Bandopadhyay Deputy Managing Director, Mr Sukumar, Editor Mint, distinguished guests ,ladies and gentlemen ,at the very outset let me say that I am extremely happy to be here with you this beautiful evening and thank the Editor Mint for having me here, to share with you the RBI perspectives on the Financial Inclusion. I extend warm congratulations to Mint on celebrating a decade of engagement with these issues which concern us all. 2. Dr. Raghuram Rajan, h
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
1. Mr Tamal Bandopadhyay Deputy Managing Director, Mr Sukumar, Editor Mint, distinguished guests ,ladies and gentlemen ,at the very outset let me say that I am extremely happy to be here with you this beautiful evening and thank the Editor Mint for having me here, to share with you the RBI perspectives on the Financial Inclusion. I extend warm congratulations to Mint on celebrating a decade of engagement with these issues which concern us all. 2. Dr. Raghuram Rajan, h
നവം 18, 2013
Two decades of credit management in banks : Looking back and moving ahead
Presentation Shri K.R. Kamath, Chairman, IBA and Chairman, Punjab National Bank; Smt. V.R. Iyer, Chairperson, Bank of India; CMDs of banks, delegates to the BANCON 2013; members of the print and electronic media; my other colleagues from the banking fraternity; ladies and gentlemen! At the outset let me thank the Indian Banks’ Association and the Bank of India for giving me this opportunity to share my thoughts with you from the platform of BANCON. This annual event i
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Presentation Shri K.R. Kamath, Chairman, IBA and Chairman, Punjab National Bank; Smt. V.R. Iyer, Chairperson, Bank of India; CMDs of banks, delegates to the BANCON 2013; members of the print and electronic media; my other colleagues from the banking fraternity; ladies and gentlemen! At the outset let me thank the Indian Banks’ Association and the Bank of India for giving me this opportunity to share my thoughts with you from the platform of BANCON. This annual event i
നവം 15, 2013
The Five Pillars of RBI’s Financial Sector Policies
Good evening. I thank the organisers for inviting me. These are challenging times for the Indian economy, but I have dwelt on those near-term challenges elsewhere. Let me turn instead to the opportunities we have to make India a far better place than it is today, focussing in particular on finance. Much of the world is ageing, facing the demographic tax of having to pay for an increasingly elderly population with a shrinking work force. Much of the world has run out o
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Good evening. I thank the organisers for inviting me. These are challenging times for the Indian economy, but I have dwelt on those near-term challenges elsewhere. Let me turn instead to the opportunities we have to make India a far better place than it is today, focussing in particular on finance. Much of the world is ageing, facing the demographic tax of having to pay for an increasingly elderly population with a shrinking work force. Much of the world has run out o
നവം 13, 2013
Vigilance Administration: Encouraging Probity in Public Life
Shri A. K. Handa, Chairman, Centre For Integrity, Governance & Training on Vigilance Administration (CIGVA); Shri S .K. Goel, former CMD, UCO Bank; Shri R.V. Verma, Chairman, NHB; other officials of CIGVA; delegates to this seminar on Vigilance Administration, ladies and gentlemen! At the outset, let me congratulate CIGVA and Shri Handa for creating an institutional forum which seeks to strengthen the governance processes with an underlying objective of bringing a
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri A. K. Handa, Chairman, Centre For Integrity, Governance & Training on Vigilance Administration (CIGVA); Shri S .K. Goel, former CMD, UCO Bank; Shri R.V. Verma, Chairman, NHB; other officials of CIGVA; delegates to this seminar on Vigilance Administration, ladies and gentlemen! At the outset, let me congratulate CIGVA and Shri Handa for creating an institutional forum which seeks to strengthen the governance processes with an underlying objective of bringing a
നവം 11, 2013
Training for Commercial Bankers
Honorable Chancellor Shri Vinay Hegde, Professor Dr. Ramananda Shetty, Dr. Shantaram Shetty, Dr. Thingalaya, Shri S.K. Jain, CMD, Syndicate Bank, Shri S.R. Bansal, CMD, Corporation Bank, Shri Anantha krishna, Chairman, Karnataka Bank, ladies and gentlemen. It gives me immense pleasure to inaugurate the academic block of NITTE Institute of Banking and Finance. It is an opportune time as also the need of the hour to enhance professional skills of bankers since we are po
Shri G. Gopalakrishna, Executive Director, Reserve Bank of India
Honorable Chancellor Shri Vinay Hegde, Professor Dr. Ramananda Shetty, Dr. Shantaram Shetty, Dr. Thingalaya, Shri S.K. Jain, CMD, Syndicate Bank, Shri S.R. Bansal, CMD, Corporation Bank, Shri Anantha krishna, Chairman, Karnataka Bank, ladies and gentlemen. It gives me immense pleasure to inaugurate the academic block of NITTE Institute of Banking and Finance. It is an opportune time as also the need of the hour to enhance professional skills of bankers since we are po
ഒക്ടോ 31, 2013
Speech on Financial Inclusion delivered by Dr. (Smt) Deepali Pant Joshi, Executive Director, Reserve Bank of India at the Vth Dun and Bradstreet Conclave on Financial Inclusion – Kolkata on October 28, 2013
INTRODUCTION 1. Mr. Sampath Kumar, Ms Preetha Mishra and my dear ladies and gentlemen. I am delighted to be with you this morning for the inaugural session of the fifth Dun and Bradstreet Financial Inclusion Conclave. I extend warm congratulations to Dun and Bradstreet for hosting the event in the beautiful city of Kolkata. 2. Financial Inclusion is not a new dispensation. Bank Nationalisation in 1969 and the tremendous push for branch building which followed in its w
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
INTRODUCTION 1. Mr. Sampath Kumar, Ms Preetha Mishra and my dear ladies and gentlemen. I am delighted to be with you this morning for the inaugural session of the fifth Dun and Bradstreet Financial Inclusion Conclave. I extend warm congratulations to Dun and Bradstreet for hosting the event in the beautiful city of Kolkata. 2. Financial Inclusion is not a new dispensation. Bank Nationalisation in 1969 and the tremendous push for branch building which followed in its w
ഒക്ടോ 30, 2013
Retail Payments at Crossroads: Economics, Strategies and Future Policies
I am deeply honored to be here and thank the European Central Bank and Banque de France for inviting me as a member of this important panel. I have been asked to specifically comment on three aspects of the topic we are discussing and let me attempt that in seriatim. I. How can financial intermediaries and financial inclusion contribute to the economic growth of the country? 1. As Global Payments 20131 report points out we are facing a “two speed world” as far as paym
Shri G Padmanabhan, Executive Director, Reserve Bank of India
I am deeply honored to be here and thank the European Central Bank and Banque de France for inviting me as a member of this important panel. I have been asked to specifically comment on three aspects of the topic we are discussing and let me attempt that in seriatim. I. How can financial intermediaries and financial inclusion contribute to the economic growth of the country? 1. As Global Payments 20131 report points out we are facing a “two speed world” as far as paym
ഒക്ടോ 30, 2013
Ideas and Actions for Re-igniting India’s Growth and Shaping the Recovery
His Excellency, Dr. Arye Kumar Jagessur, High Commissioner of Mauritius in India; Dr. Ajay Pandey, Dean, IIM Ahmedabad; PGPX Chair Professor Anurag Agarwal, other faculty members and students of IIM Ahmedabad. Let me begin by thanking you for inviting me to CONNEXION 2013. I understand that this is an annual event organized by the students of the One-year Post-Graduate Programme in Management for Executives (PGPX) which brings together industry and academia for brains
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
His Excellency, Dr. Arye Kumar Jagessur, High Commissioner of Mauritius in India; Dr. Ajay Pandey, Dean, IIM Ahmedabad; PGPX Chair Professor Anurag Agarwal, other faculty members and students of IIM Ahmedabad. Let me begin by thanking you for inviting me to CONNEXION 2013. I understand that this is an annual event organized by the students of the One-year Post-Graduate Programme in Management for Executives (PGPX) which brings together industry and academia for brains
ഒക്ടോ 22, 2013
Financial Education and Customer Protection
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
ഒക്ടോ 19, 2013
Filtering Out the Real India
Indian cricket fans are manic-depressive in their treatment of their favorite teams. They elevate players to god-like status when their team performs well, ignoring obvious weaknesses; but when it loses, as any team must, the fall is equally steep and every weakness is dissected. In fact, the team is never as good as fans make it out to be when it wins, nor as bad as it is made out to be when it loses. Its weaknesses existed in victory, too, but were overlooked. Such
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Indian cricket fans are manic-depressive in their treatment of their favorite teams. They elevate players to god-like status when their team performs well, ignoring obvious weaknesses; but when it loses, as any team must, the fall is equally steep and every weakness is dissected. In fact, the team is never as good as fans make it out to be when it wins, nor as bad as it is made out to be when it loses. Its weaknesses existed in victory, too, but were overlooked. Such
ഒക്ടോ 18, 2013
Banking on Quality Data
Dr.Bhaskaran, CEO, Indian Institute of Banking and Finance, delegates attending this Conference, ladies and gentlemen. I am grateful to Dr Bhaskaran for inviting me to inaugurate this Conference. The theme ‘data quality management’ is topical and of prime importance to the financial sector as banking increasingly gets embedded with technology, from micro devices to stacks of Mainframe computers. Introduction 2. Before I go on to the core theme of my speech, let me cit
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Dr.Bhaskaran, CEO, Indian Institute of Banking and Finance, delegates attending this Conference, ladies and gentlemen. I am grateful to Dr Bhaskaran for inviting me to inaugurate this Conference. The theme ‘data quality management’ is topical and of prime importance to the financial sector as banking increasingly gets embedded with technology, from micro devices to stacks of Mainframe computers. Introduction 2. Before I go on to the core theme of my speech, let me cit
ഒക്ടോ 11, 2013
Welcome to India: State of the Indian economy, banking sector and factoring services
Mr. Gerhard Prenner, Chairman, International Factors Group (IFG); Mr. Pramod Bhasin, Founder & Vice Chairman, Genpact Limited; Mr. Sanjay Chamria, Co-founder & CEO, Magma Fincorp Limited; Mr. Ravi Gupta, Managing Director, Blend Financial Services Ltd.; delegates to the conference, ladies and gentlemen! It gives me great pleasure to welcome you all, especially the foreign delegates, to India and to this historic city of New Delhi for IFG’s Annual Conference. I
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mr. Gerhard Prenner, Chairman, International Factors Group (IFG); Mr. Pramod Bhasin, Founder & Vice Chairman, Genpact Limited; Mr. Sanjay Chamria, Co-founder & CEO, Magma Fincorp Limited; Mr. Ravi Gupta, Managing Director, Blend Financial Services Ltd.; delegates to the conference, ladies and gentlemen! It gives me great pleasure to welcome you all, especially the foreign delegates, to India and to this historic city of New Delhi for IFG’s Annual Conference. I
ഒക്ടോ 10, 2013
Regaining the Growth Momentum: Issues and Imperatives
Shri Pratip Chaudhuri, Former Chairman, State Bank of India; Dr. Rajan Saxena, Vice-Chancellor, Narsee Monjee Institute of Management Studies (NMIMS); Dr. Debashis Sanyal, Dean; Dr. Vrinda Kamat, Chairperson (MBA Banking); Mr. C. B. Ramamurthy, my former boss at Bank of Baroda; faculty and students of the School of Business Management, NMIMS University; distinguished invitees, members of the print and electronic media, ladies and gentlemen! At the outset let me congra
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri Pratip Chaudhuri, Former Chairman, State Bank of India; Dr. Rajan Saxena, Vice-Chancellor, Narsee Monjee Institute of Management Studies (NMIMS); Dr. Debashis Sanyal, Dean; Dr. Vrinda Kamat, Chairperson (MBA Banking); Mr. C. B. Ramamurthy, my former boss at Bank of Baroda; faculty and students of the School of Business Management, NMIMS University; distinguished invitees, members of the print and electronic media, ladies and gentlemen! At the outset let me congra
ഒക്ടോ 07, 2013
What, Why and How of Retail (Mass) Banking: Issues and Challenges
Mrs. Usha Thorat, Director, Centre For Advanced Financial Research And Learning (CAFRAL); Mr. B D W A Silva, Deputy Governor , Central Bank of Sri Lanka; CEOs of various commercial banks from across the globe, other fellow Central Bankers ; ladies and gentleman! At the outset, I would like to extend a warm welcome to all the delegates to this roundtable, especially the foreign delegates who have travelled to India to be a part of this event. It is indeed a privilege f
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mrs. Usha Thorat, Director, Centre For Advanced Financial Research And Learning (CAFRAL); Mr. B D W A Silva, Deputy Governor , Central Bank of Sri Lanka; CEOs of various commercial banks from across the globe, other fellow Central Bankers ; ladies and gentleman! At the outset, I would like to extend a warm welcome to all the delegates to this roundtable, especially the foreign delegates who have travelled to India to be a part of this event. It is indeed a privilege f
ഒക്ടോ 07, 2013
Certain Uncertainties, Uncertain Certainties: India in an interconnected world
Presentation 1. It is a pleasure to be here today at the 40th annual convention of the Department of Business Economics of the University of Delhi. Let me begin by congratulating the Department for selecting a very appropriate theme for the Convention – “Embracing uncertainty: India in an interconnected world”. The events over the last few years – beginning from the onset of the global financial crisis, the sovereign debt crisis and, more recently, the events triggere
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Presentation 1. It is a pleasure to be here today at the 40th annual convention of the Department of Business Economics of the University of Delhi. Let me begin by congratulating the Department for selecting a very appropriate theme for the Convention – “Embracing uncertainty: India in an interconnected world”. The events over the last few years – beginning from the onset of the global financial crisis, the sovereign debt crisis and, more recently, the events triggere
ഒക്ടോ 04, 2013
Financial Education Key to Promoting Financial Inclusion and Customer Protection
I am happy to be able to address, though not real time, various stakeholders from across the country on this important subject and also congratulate the CAB for focusing on this topical issue. Financial Education is a not a new idea for those present here but the enabling environment in terms of policy focus on inclusive growth and availability of technology for cost effective delivery of both banking services and financial education is of recent origin. There is a st
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
I am happy to be able to address, though not real time, various stakeholders from across the country on this important subject and also congratulate the CAB for focusing on this topical issue. Financial Education is a not a new idea for those present here but the enabling environment in terms of policy focus on inclusive growth and availability of technology for cost effective delivery of both banking services and financial education is of recent origin. There is a st
ഒക്ടോ 03, 2013
Speech delivered by Shri G Gopalakrishna, Executive Director, Reserve Bank of India at “Axis Champions Awards” on October 1, 2013 at Mumbai
Dr. Sanjiv Misra, Chariman Axis Bank, Smt. Shika Sharma, MD and CEO, Sr.Executives and ladies and Genetlemen, I have great pleasure in being a part of an event that hosts and toasts achievers who have excelled and left an indelible impression on customers by dint of exemplary work and service. I must congratulate Axis Bank for instituting these awards and felicitating their personnel, which I am sure will spur them on to better their own record and possibly also inspi
Shri G. Gopalakrishna, Executive Director, Reserve Bank of India
Dr. Sanjiv Misra, Chariman Axis Bank, Smt. Shika Sharma, MD and CEO, Sr.Executives and ladies and Genetlemen, I have great pleasure in being a part of an event that hosts and toasts achievers who have excelled and left an indelible impression on customers by dint of exemplary work and service. I must congratulate Axis Bank for instituting these awards and felicitating their personnel, which I am sure will spur them on to better their own record and possibly also inspi
സെപ്റ്റം 30, 2013
Payment Systems in India: Reflections on some recent trends and future challenges
On behalf of Reserve Bank of India, it is my privilege to welcome all the distinguished participants to India, to the city of Pune and to the College of Agricultural Banking – a premier training establishment of the Reserve Bank of India focussed on rural and co-operative financial sector development besides general banking with emphasis on technology led business processes. It is also a matter of great privilege for me to be inaugurating this important International
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
On behalf of Reserve Bank of India, it is my privilege to welcome all the distinguished participants to India, to the city of Pune and to the College of Agricultural Banking – a premier training establishment of the Reserve Bank of India focussed on rural and co-operative financial sector development besides general banking with emphasis on technology led business processes. It is also a matter of great privilege for me to be inaugurating this important International
സെപ്റ്റം 30, 2013
Transformation of Development Financial Institutions into Commercial Banks: The Case of IDBI and the Role of Employee Unions
Shri Basudeb Achariya, Hon’ble MP, Lok Sabha; Comrade Rajen Nagar, President, AIBEA; Shri B.P. Kanungo, Regional Director for West Bengal and Sikkim, Reserve Bank of India; Shri Samir Ghosh, General Secretary, All Indian Reserve Bank Employees Association; Principal office bearers of the United Forum of IDBI Officers and Employees; officers and employees of IDBI and other delegates to the seminar; ladies and gentlemen! I am pleased to note that the United Forum of IDB
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri Basudeb Achariya, Hon’ble MP, Lok Sabha; Comrade Rajen Nagar, President, AIBEA; Shri B.P. Kanungo, Regional Director for West Bengal and Sikkim, Reserve Bank of India; Shri Samir Ghosh, General Secretary, All Indian Reserve Bank Employees Association; Principal office bearers of the United Forum of IDBI Officers and Employees; officers and employees of IDBI and other delegates to the seminar; ladies and gentlemen! I am pleased to note that the United Forum of IDB
സെപ്റ്റം 28, 2013
National Institute of Bank Management Conclave on Implications of New Bank Licences
I have great pleasure and privilege in associating myself with the conclave of the Post Graduate Students of National Institute of Bank Management (NIBM), Pune. I am indeed grateful to Director Allen C A Pereira for inviting me to deliver the inaugural address. NIBM is a premier educational institution of the country in the field of banking and finance and it is but natural for them to select a subject of topical interest for this conclave. 2. I understand that the ob
Shri B. Mahapatra, Executive Director, Reserve Bank of India
I have great pleasure and privilege in associating myself with the conclave of the Post Graduate Students of National Institute of Bank Management (NIBM), Pune. I am indeed grateful to Director Allen C A Pereira for inviting me to deliver the inaugural address. NIBM is a premier educational institution of the country in the field of banking and finance and it is but natural for them to select a subject of topical interest for this conclave. 2. I understand that the ob
സെപ്റ്റം 17, 2013
Enabling Urban Microfinance
At the outset, let me congratulate Additional Secretary for the theme of this conference ‘Énabling Urban Microfinance’ which is truly appropriate as it chooses to bring to centre stage issues of urban poverty. The scale of urban poverty in India is staggering. Current estimates suggest that 100 million poor people live in urban settlements comprising 40% of the urban poor. These numbers are expected to rise. The prediction is that the total urban population of India w
Dr. (Smt.) Deepali Pant Joshi, Executive Director, Reserve Bank of India
At the outset, let me congratulate Additional Secretary for the theme of this conference ‘Énabling Urban Microfinance’ which is truly appropriate as it chooses to bring to centre stage issues of urban poverty. The scale of urban poverty in India is staggering. Current estimates suggest that 100 million poor people live in urban settlements comprising 40% of the urban poor. These numbers are expected to rise. The prediction is that the total urban population of India w
സെപ്റ്റം 06, 2013
Financial Inclusion in India: Journey So Far And Way Forward
Mr. M Narendra, Chairman, Indian Overseas Bank; Mr. Y M Deosthalee, CMD, L&T Finance; Mr. Arun Tiwari, ED, Allahabad Bank, Ms. Shereen Bhan, Managing Editor,CNBC-TV18, delegates to the conclave; friends from the media fraternity; ladies and gentlemen! It is a pleasure for me to be present here today at the Conclave organized by CNBC TV 18 on the very topical subject of financial inclusion. I am particularly happy that a business news channel which has built up a c
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mr. M Narendra, Chairman, Indian Overseas Bank; Mr. Y M Deosthalee, CMD, L&T Finance; Mr. Arun Tiwari, ED, Allahabad Bank, Ms. Shereen Bhan, Managing Editor,CNBC-TV18, delegates to the conclave; friends from the media fraternity; ladies and gentlemen! It is a pleasure for me to be present here today at the Conclave organized by CNBC TV 18 on the very topical subject of financial inclusion. I am particularly happy that a business news channel which has built up a c
ഓഗ 30, 2013
Statistics in RBI’s Policy Making Conceptual and Empirical Issues
We have gathered here today to celebrate the seventh Statistics Day Conference of the Reserve Bank. The Reserve Bank instituted the Statistics Day Conference to honour the memory of Prof. P. C. Mahalanobis, who has had an enduring influence on planning and policy making in India. This annual conference has developed into an important forum for the Reserve Bank’s Research Departments to meet with researchers and engage on a specific theme of statistical analysis. The t
Dr. D. Subbarao, Governor, Reserve Bank of India
We have gathered here today to celebrate the seventh Statistics Day Conference of the Reserve Bank. The Reserve Bank instituted the Statistics Day Conference to honour the memory of Prof. P. C. Mahalanobis, who has had an enduring influence on planning and policy making in India. This annual conference has developed into an important forum for the Reserve Bank’s Research Departments to meet with researchers and engage on a specific theme of statistical analysis. The t
ഓഗ 30, 2013
Statistics and the Reserve Bank of India
Governor Dr. Subbarao, Prof. Bimal Roy, Prof. Richard Smith, Prof. B.L.S. Prakasa Rao, Prof. Subhashis Ghoshal, Deputy Governor Dr. Patel, Deputy Governors, colleague Executive Directors, Shri A. B. Chakraborty, distinguished guests from the financial sector and academia, members of the press, colleagues from the Department of Statistics and Information Management (DSIM) and friends. I extend a warm welcome to all of you to this 7th Statistics Day Conference. Since 20
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
Governor Dr. Subbarao, Prof. Bimal Roy, Prof. Richard Smith, Prof. B.L.S. Prakasa Rao, Prof. Subhashis Ghoshal, Deputy Governor Dr. Patel, Deputy Governors, colleague Executive Directors, Shri A. B. Chakraborty, distinguished guests from the financial sector and academia, members of the press, colleagues from the Department of Statistics and Information Management (DSIM) and friends. I extend a warm welcome to all of you to this 7th Statistics Day Conference. Since 20
ഓഗ 29, 2013
Five Years of Leading the Reserve Bank - Looking Ahead by Looking Back
First of all, my sincere thanks to the Nani Palkhivala Memorial Trust, particularly Shri Y.H. Malegam, the widely respected Chairman of the Trust, for extending me the honour of delivering the Palkhivala Memorial Lecture for this year. I know many eminent thought leaders had delivered this memorial lecture in the past, and I attach a lot of value to adding my name to that very select list. Nani Palkhivala 2. I did not have the privilege of meeting or interacting with
Dr. D. Subbarao, Governor, Reserve Bank of India
First of all, my sincere thanks to the Nani Palkhivala Memorial Trust, particularly Shri Y.H. Malegam, the widely respected Chairman of the Trust, for extending me the honour of delivering the Palkhivala Memorial Lecture for this year. I know many eminent thought leaders had delivered this memorial lecture in the past, and I attach a lot of value to adding my name to that very select list. Nani Palkhivala 2. I did not have the privilege of meeting or interacting with
ഓഗ 23, 2013
Interest Rates and Economic Activity
I thank Ms. Preeta Misra, Director & Member Secretary, Association of Financial Professionals of India (AFPI) for this opportunity to interact with distinguished professionals of corporate India. In the recent period, there has been an animated debate on the role of interest rates in influencing real economic activities. In particular, the discussion has been on how a change in policy interest rate impacts the lending rates, and thereby industrial performance and
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank Ms. Preeta Misra, Director & Member Secretary, Association of Financial Professionals of India (AFPI) for this opportunity to interact with distinguished professionals of corporate India. In the recent period, there has been an animated debate on the role of interest rates in influencing real economic activities. In particular, the discussion has been on how a change in policy interest rate impacts the lending rates, and thereby industrial performance and
ഓഗ 20, 2013
Infrastructure Financing By Banks In India: Myths and Realities
Mr. B. Sreeram, Managing Director, State Bank of Bikaner & Jaipur; Mr M. Bhagavantha Rao, MD, State Bank of Hyderabad; my fellow panelists, Mr. V. G. Kannan, MD, SBI Capital Markets Limited; Mr. Partha Bhattacharya, Ex- CMD, Coal India Limited; Mr. Seshagiri Rao, Joint Managing Director, JSW Steel Limited and CFO of JSW Group, Ms. Zarin Daruwala, President, ICICI Bank Ltd.; delegates to the Conclave; ladies and gentlemen. It is, indeed, a great pleasure to be here
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mr. B. Sreeram, Managing Director, State Bank of Bikaner & Jaipur; Mr M. Bhagavantha Rao, MD, State Bank of Hyderabad; my fellow panelists, Mr. V. G. Kannan, MD, SBI Capital Markets Limited; Mr. Partha Bhattacharya, Ex- CMD, Coal India Limited; Mr. Seshagiri Rao, Joint Managing Director, JSW Steel Limited and CFO of JSW Group, Ms. Zarin Daruwala, President, ICICI Bank Ltd.; delegates to the Conclave; ladies and gentlemen. It is, indeed, a great pleasure to be here
ഓഗ 17, 2013
Welcome remarks by Dr. Duvvuri Subbarao, Governor, Reserve Bank of India at the release of Reserve Bank of India’s History Volume IV by Prime Minister Dr. Manmohan Singh in New Delhi on August 17, 2013
On behalf of the Reserve Bank, I have great pleasure in welcoming everyone to this function for the release of Volume IV of the Reserve Bank of India (RBI) history by the Hon’ble Prime Minister Dr. Manmohan Singh. 2. Volume IV of the RBI history covers the period from 1981 to 1997 which subsumes the period when the Prime Minister was the Governor of the Reserve Bank during 1982 to 1985, and the subsequent period when he was the Finance Minister from 1991 to 1996. Toda
Dr. D. Subbarao, Governor, Reserve Bank of India
On behalf of the Reserve Bank, I have great pleasure in welcoming everyone to this function for the release of Volume IV of the Reserve Bank of India (RBI) history by the Hon’ble Prime Minister Dr. Manmohan Singh. 2. Volume IV of the RBI history covers the period from 1981 to 1997 which subsumes the period when the Prime Minister was the Governor of the Reserve Bank during 1982 to 1985, and the subsequent period when he was the Finance Minister from 1991 to 1996. Toda
ഓഗ 15, 2013
Productivity Trends in Indian Banking in the Post Reform Period – Experience, Issues and Future Challenges
Shri K.R. Kamath, Chairman, IBA and CMD, Punjab National Bank; Shri H.S.U. Kamath, CMD, Vijaya Bank; Smt. V.R. Iyer, CMD, Bank of India; Shri R.K. Dubey, CMD, Canara Bank; Shri M. Narendra, CMD, Indian Overseas Bank; Shri D. Sarkar, CMD Union Bank of India; other senior colleagues from the banking industry; delegates to the conference; members of the print and electronic media; ladies and gentlemen. It is, indeed, a great pleasure and privilege for me to address this
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri K.R. Kamath, Chairman, IBA and CMD, Punjab National Bank; Shri H.S.U. Kamath, CMD, Vijaya Bank; Smt. V.R. Iyer, CMD, Bank of India; Shri R.K. Dubey, CMD, Canara Bank; Shri M. Narendra, CMD, Indian Overseas Bank; Shri D. Sarkar, CMD Union Bank of India; other senior colleagues from the banking industry; delegates to the conference; members of the print and electronic media; ladies and gentlemen. It is, indeed, a great pleasure and privilege for me to address this

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