Speeches - Monetary Policy - आरबीआय - Reserve Bank of India
speeches
ऑक्टो 16, 2009
Learning from Crises
Ladies and Gentlemen, The late John Kenneth Galbraith, Harvard Economics Professor Emeritus, attributed the longevity of his book The Great Crash 1929 – published in 1955 and never since out of print – to the tendency of history to threaten a repeat. "Each time it has been about to pass from bookstores," he wrote in a later foreword, "another speculative episode – another bubble or the ensuing misfortune – has stirred interest in the history of this, the great modern
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen, The late John Kenneth Galbraith, Harvard Economics Professor Emeritus, attributed the longevity of his book The Great Crash 1929 – published in 1955 and never since out of print – to the tendency of history to threaten a repeat. "Each time it has been about to pass from bookstores," he wrote in a later foreword, "another speculative episode – another bubble or the ensuing misfortune – has stirred interest in the history of this, the great modern
सप्टें 29, 2009
Global Crisis: Genesis, Challenges and Opportunities Unleashed
Mr. Ajith Nivard Cabraal, Governor, Central Bank of Sri Lanka; Mr. Ajantha Madurapperuma, President, Association of Professional Bankers – Sri Lanka; Distinguished guests and members of the Association of Professional Bankers, Ladies and Gentlemen: It is a great pleasure and privilege for me to be here today for this 21st Anniversary Convention of the Association of Professional Bankers of Sri Lanka. At the outset, I would like to thank Mr. Ajantha Madurapperuma, the
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Mr. Ajith Nivard Cabraal, Governor, Central Bank of Sri Lanka; Mr. Ajantha Madurapperuma, President, Association of Professional Bankers – Sri Lanka; Distinguished guests and members of the Association of Professional Bankers, Ladies and Gentlemen: It is a great pleasure and privilege for me to be here today for this 21st Anniversary Convention of the Association of Professional Bankers of Sri Lanka. At the outset, I would like to thank Mr. Ajantha Madurapperuma, the
सप्टें 11, 2009
Sustaining growth potential – Focus on key Sectors
I am privileged to speak before this learned audience at this conclave on the theme of 'Top priorities of the new regime – Growth strategies'. The topic is of special relevance for emerging economies like ours, particularly in the current context. As is well recognised, the Indian economy has enormous growth potential, and can be one of the economic powerhouses in the current millennium. The economic dominance of India along with China looks all the more likely in vie
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
I am privileged to speak before this learned audience at this conclave on the theme of 'Top priorities of the new regime – Growth strategies'. The topic is of special relevance for emerging economies like ours, particularly in the current context. As is well recognised, the Indian economy has enormous growth potential, and can be one of the economic powerhouses in the current millennium. The economic dominance of India along with China looks all the more likely in vie
जुलै 31, 2009
Global Financial Crisis Questioning the Questions
JRD Tata Thank you for inviting me to deliver this year’s JRD Tata Memorial Lecture. It is an honour to which I attach a lot of value. The man whose life this series of lectures commemorates, JRD Tata - or JRD, as he was known - left a great legacy as a visionary, as an industry leader, as a philanthropist, and above all as a humanist. 2. Two words capture JRD’s lasting contribution, nation builder. His commitment to India’s development was deep and abiding, and he wa
Dr. D. Subbarao, Governor, Reserve Bank of India
JRD Tata Thank you for inviting me to deliver this year’s JRD Tata Memorial Lecture. It is an honour to which I attach a lot of value. The man whose life this series of lectures commemorates, JRD Tata - or JRD, as he was known - left a great legacy as a visionary, as an industry leader, as a philanthropist, and above all as a humanist. 2. Two words capture JRD’s lasting contribution, nation builder. His commitment to India’s development was deep and abiding, and he wa
जून 29, 2009
Sub-national Fiscal Reforms and Debt Management - Indian Experience
It gives me great pleasure to be here amongst you and address the World Bank Sub-national Fiscal Reform and Debt Management Forum. There is more than one reason on my part to accept this invitation, but more importantly, to share with you the turnaround story at the sub-national level in India. The relevance of fiscal reforms and creation of fiscal space even at the sub-national level can hardly be over-emphasised in the context of the on-going slowdown the world over
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
It gives me great pleasure to be here amongst you and address the World Bank Sub-national Fiscal Reform and Debt Management Forum. There is more than one reason on my part to accept this invitation, but more importantly, to share with you the turnaround story at the sub-national level in India. The relevance of fiscal reforms and creation of fiscal space even at the sub-national level can hardly be over-emphasised in the context of the on-going slowdown the world over
मे 22, 2009
Risk Management in the Midst of the Global Financial Crisis
Thank you for inviting me to be the keynote speaker at this Financial Management Summit. The global economy is passing through its deepest financial and economic crisis of our time. Protecting the Indian economy from the worst impact of the crisis has been a big challenge for the government and the Reserve Bank. Equally, I am conscious of the fact that industry, business and investors gathered here today have had to make very challenging adjustments in these difficult
Dr. D. Subbarao, Governor, Reserve Bank of India
Thank you for inviting me to be the keynote speaker at this Financial Management Summit. The global economy is passing through its deepest financial and economic crisis of our time. Protecting the Indian economy from the worst impact of the crisis has been a big challenge for the government and the Reserve Bank. Equally, I am conscious of the fact that industry, business and investors gathered here today have had to make very challenging adjustments in these difficult
एप्रि 25, 2009
Statement by Mr. Duvvuri Subbarao, Alternate Governor
Mr. Chairman, 1. The IMFC meets today in extraordinarily complex and challenging times. The financial crisis became full-blown in the second half of 2008, and has morphed through negative feedback to real activity, plunging the global economy into the deepest recession since World War II. What started off as a sub-prime crisis in the US housing mortgage sector has turned successively into a global banking crisis, global financial crisis and now a global economic crisi
Dr. D. Subbarao, Governor, Reserve Bank of India
Mr. Chairman, 1. The IMFC meets today in extraordinarily complex and challenging times. The financial crisis became full-blown in the second half of 2008, and has morphed through negative feedback to real activity, plunging the global economy into the deepest recession since World War II. What started off as a sub-prime crisis in the US housing mortgage sector has turned successively into a global banking crisis, global financial crisis and now a global economic crisi
एप्रि 23, 2009
Global Financial Crisis : Causes, Impact, Policy Responses and Lessons
Global Financial Crisis : Causes, Consequences and India’s Prospects By Rakesh Mohan, Deputy Governor, Reserve Bank of India at London Business School on April 23, 2009 The intensification of the global financial crisis, following the bankruptcy of Lehman Brothers in September 2008, has made the current economic and financial environment a very difficult time for the world economy, the global financial system and for central banks. The fall out of the current global f
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Global Financial Crisis : Causes, Consequences and India’s Prospects By Rakesh Mohan, Deputy Governor, Reserve Bank of India at London Business School on April 23, 2009 The intensification of the global financial crisis, following the bankruptcy of Lehman Brothers in September 2008, has made the current economic and financial environment a very difficult time for the world economy, the global financial system and for central banks. The fall out of the current global f
मार्च 26, 2009
India - Managing the Impact of the Global Financial Crisis
Introduction 1. Less than a year ago, much of what has happened in the Indian economy since last October would have been hard to anticipate. I recall, around this time last year, the most frequently asked questions (FAQs) were, what are the factors that put India on a high growth trajectory and what can we do to remain there? Today, the FAQ is, when and how do we get back on to the high growth trajectory? The sharp turn around in the FAQs summarizes in a nutshell the
Dr. D. Subbarao, Governor, Reserve Bank of India
Introduction 1. Less than a year ago, much of what has happened in the Indian economy since last October would have been hard to anticipate. I recall, around this time last year, the most frequently asked questions (FAQs) were, what are the factors that put India on a high growth trajectory and what can we do to remain there? Today, the FAQ is, when and how do we get back on to the high growth trajectory? The sharp turn around in the FAQs summarizes in a nutshell the
फेब्रु 18, 2009
Impact of the Global Financial Crisis on India Collateral Damage and Response
Global outlook 1. The global economic outlook deteriorated sharply over the last quarter. In a sign of the ferocity of the down turn, the IMF made a marked downward revision of its estimate for global growth in 2009 in purchasing power parity terms – from its forecast of 3.0 per cent made in October 2008 to 0.5 per cent in January 2009. In market exchange rate terms, the downturn is sharper – global GDP is projected to actually shrink by 0.6 per cent. With all the adv
Dr. D. Subbarao, Governor, Reserve Bank of India
Global outlook 1. The global economic outlook deteriorated sharply over the last quarter. In a sign of the ferocity of the down turn, the IMF made a marked downward revision of its estimate for global growth in 2009 in purchasing power parity terms – from its forecast of 3.0 per cent made in October 2008 to 0.5 per cent in January 2009. In market exchange rate terms, the downturn is sharper – global GDP is projected to actually shrink by 0.6 per cent. With all the adv
ऑग 01, 2008
Payment and Settlement System in India
Dear Friends, It is my pleasure to be here with you this afternoon at this important conclave, which seeks to articulate the vision of Indian banking in 2010. I am thankful to the organisers for affording me this opportunity to be here today and share some of my thoughts with this august audience. The Indian banking system has come a long way, particularly during the last couple of decades and continues to evolve in a myriad of ways. While, no doubt, the future contou
Shri V. Leeladhar, Deputy Governor, Reserve Bank of India
Dear Friends, It is my pleasure to be here with you this afternoon at this important conclave, which seeks to articulate the vision of Indian banking in 2010. I am thankful to the organisers for affording me this opportunity to be here today and share some of my thoughts with this august audience. The Indian banking system has come a long way, particularly during the last couple of decades and continues to evolve in a myriad of ways. While, no doubt, the future contou
जुलै 04, 2008
Global Financial Turbulence and Financial Sector in India: A Practitioner’s Perspective
Madam Chairperson, Governor Williams, and friends, At the outset I would like to thank The Initiative for Policy Dialogue, and Professors Stiglitz, Griffith-Jones, and Ocampo for providing me this opportunity to participate and incidentally share my thoughts on the recent developments in the global financial markets and its implications for both the developing and the developed countries. My presentation will initially provide a broad overview of the global developmen
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Madam Chairperson, Governor Williams, and friends, At the outset I would like to thank The Initiative for Policy Dialogue, and Professors Stiglitz, Griffith-Jones, and Ocampo for providing me this opportunity to participate and incidentally share my thoughts on the recent developments in the global financial markets and its implications for both the developing and the developed countries. My presentation will initially provide a broad overview of the global developmen
जुलै 02, 2008
Monetary and Regulatory Policies: How to Get the Balance with Markets Right
Chairman Jean-Pierre Roth, Governor Meirelles, distinguished economist Bill White, fellow governors and friends. It was a treat to listen to Edward Lord George’s wonderful and erudite lecture on the ‘Approach to Macroeconomic Management – How it has evolved’ and Sir Andrew Crockett’s comments, as Chairman, on Lord George’s Per Jacobson lecture and also on Lord George - “Steady Eddie” as he is warmly described. The Reserve Bank of India considers both of them as our sp
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Chairman Jean-Pierre Roth, Governor Meirelles, distinguished economist Bill White, fellow governors and friends. It was a treat to listen to Edward Lord George’s wonderful and erudite lecture on the ‘Approach to Macroeconomic Management – How it has evolved’ and Sir Andrew Crockett’s comments, as Chairman, on Lord George’s Per Jacobson lecture and also on Lord George - “Steady Eddie” as he is warmly described. The Reserve Bank of India considers both of them as our sp
जून 05, 2008
Agriculture: Emerging Issues and Possible Approaches
His Excellency, the Governor of Andhra Pradesh and the Chancellor of Acharya N.G. Ranga Agricultural University (ANGRAU), Shri Narayan Datt Tiwari garu; Vice Chancellor, ANGRAU, Dr. P. Raghava Reddy garu; Members of the Board of Management of ANGRAU; Registrar of ANGRAU; Horticultural University Vice Chancellor, Dr. S.D. Sikhamani garu; Members of the Academic Council of Agriculture and Home Science Faculties; dear students and staff of this university, respected pare
Dr. Y. V. Reddy, Governor, Reserve Bank of India
His Excellency, the Governor of Andhra Pradesh and the Chancellor of Acharya N.G. Ranga Agricultural University (ANGRAU), Shri Narayan Datt Tiwari garu; Vice Chancellor, ANGRAU, Dr. P. Raghava Reddy garu; Members of the Board of Management of ANGRAU; Registrar of ANGRAU; Horticultural University Vice Chancellor, Dr. S.D. Sikhamani garu; Members of the Academic Council of Agriculture and Home Science Faculties; dear students and staff of this university, respected pare
मे 20, 2008
Indian Economy: Prospects for Growth with Stability
Mr. Gopinath Pillai, Chairman, Institute of South Asian Studies (ISAS); Mr. Heng Swee Keat, Managing Director, Monetary Authority of Singapore (MAS); Dr. Jaishankar, Honorable High Commissioner; and distinguished friends. I deeply appreciate the invitation from the ISAS to address this august gathering of policy makers, eminent academics, and market participants of Singapore. Singapore is an important financial center of the world and a very special partner for India,
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Mr. Gopinath Pillai, Chairman, Institute of South Asian Studies (ISAS); Mr. Heng Swee Keat, Managing Director, Monetary Authority of Singapore (MAS); Dr. Jaishankar, Honorable High Commissioner; and distinguished friends. I deeply appreciate the invitation from the ISAS to address this august gathering of policy makers, eminent academics, and market participants of Singapore. Singapore is an important financial center of the world and a very special partner for India,
एप्रि 10, 2008
Banks' Relationship with Customers - Evolving Perspectives
I feel it a privilege to be associated with today's function as a tribute to the late Mr. M.R.Pai, the doyen of consumer activism in India. He successfully championed the cause of consumers, particularly bank depositors, during a different economic setting when the institutional dynamics were different, particularly for the public sector, and customer as a generic entity had not acquired the high pedestal in public discourses and management meetings. Times have change
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
I feel it a privilege to be associated with today's function as a tribute to the late Mr. M.R.Pai, the doyen of consumer activism in India. He successfully championed the cause of consumers, particularly bank depositors, during a different economic setting when the institutional dynamics were different, particularly for the public sector, and customer as a generic entity had not acquired the high pedestal in public discourses and management meetings. Times have change
डिसें 04, 2007
India's Financial Sector Reforms: Fostering Growth While Containing Risk
I am honoured to be back at Yale where I got my basic economics grounding from James Tobin, Bill Nordhaus, and Robert Evenson, among others. In all these years, this is my first lecture at Yale, so I am particularly pleased to have this opportunity. Thank you Professor Srinivasan. The turmoil in international financial markets since late July this year and the increased uncertainty that financial markets are currently experiencing have brought issues relating to finan
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I am honoured to be back at Yale where I got my basic economics grounding from James Tobin, Bill Nordhaus, and Robert Evenson, among others. In all these years, this is my first lecture at Yale, so I am particularly pleased to have this opportunity. Thank you Professor Srinivasan. The turmoil in international financial markets since late July this year and the increased uncertainty that financial markets are currently experiencing have brought issues relating to finan
नोव्हें 13, 2007
Financial Sector Policies for growth and employment
Respected Soedradjad Djiwandono, Governor Abdullah, fellow Governors and distinguished participants,I am thankful to Governor Burhanuddin Abdullah for inviting me to participate in the Annual International Seminar 2007. We deeply appreciate the excellent arrangements, warmth and hospitality of Bank Indonesia. In particular, special thanks are due to Deputy Governor, Ms. Miranda Goeltom. I also sincerely appreciate the thoughtful selection of the topics for discussion
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Respected Soedradjad Djiwandono, Governor Abdullah, fellow Governors and distinguished participants,I am thankful to Governor Burhanuddin Abdullah for inviting me to participate in the Annual International Seminar 2007. We deeply appreciate the excellent arrangements, warmth and hospitality of Bank Indonesia. In particular, special thanks are due to Deputy Governor, Ms. Miranda Goeltom. I also sincerely appreciate the thoughtful selection of the topics for discussion
नोव्हें 12, 2007
Fasten Your Seatbelts ! Monetary Policy Challenges In Turbulent Times
Governor Reddy, Deputy Governors of the Reserve Bank of India Honoured Guests The Consul General of the Republic of South Africa Members of the India-South Africa Business Forum Ladies and Gentleman Introduction The “Great Moderation“ Improved macroeconomic performance: some side-effects The role of monetary policy Global financial market integration Conclusion 1. IntroductionThank you for your kind invitation. I am delighted to be in India for the first time at this
Mr T.T. Mboweni, Governor of the South African Reserve Bank
Governor Reddy, Deputy Governors of the Reserve Bank of India Honoured Guests The Consul General of the Republic of South Africa Members of the India-South Africa Business Forum Ladies and Gentleman Introduction The “Great Moderation“ Improved macroeconomic performance: some side-effects The role of monetary policy Global financial market integration Conclusion 1. IntroductionThank you for your kind invitation. I am delighted to be in India for the first time at this
नोव्हें 02, 2007
Evolving role of the Reserve Bank of India: Recent Developments
Respected Professor Vyas, distinguished participants, ladies and gentlemen, I am indeed thankful to the Institute of Development Studies and Professor Vyas for providing me this opportunity to share my thoughts with you today on the “Evolving role of the Reserve Bank of India: Recent Developments”. My association with Professor Vyas has been long, but it became closer since November 2000, when he was appointed as a director on the Central Board of the Reserve Bank of
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Respected Professor Vyas, distinguished participants, ladies and gentlemen, I am indeed thankful to the Institute of Development Studies and Professor Vyas for providing me this opportunity to share my thoughts with you today on the “Evolving role of the Reserve Bank of India: Recent Developments”. My association with Professor Vyas has been long, but it became closer since November 2000, when he was appointed as a director on the Central Board of the Reserve Bank of
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