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नोव्हें 02, 2021
Governance and Prudential Supervision of Financial Institutions: Recent Initiatives
A very good evening to all the distinguished dignitaries and participants at this annual BFSI Summit organised by the Business Standard. The Summit has over the past few days seen excellent discussions on several topical issues related to the Banking and Financial Sector and generated some very useful insights. 2. The topic for today’s discussion is ‘Bank Privatisation: Undoing 1969’, which is one of the most widely debated issues for long. The detailed deliberations
Shri M. K. Jain, Deputy Governor, Reserve Bank of India
A very good evening to all the distinguished dignitaries and participants at this annual BFSI Summit organised by the Business Standard. The Summit has over the past few days seen excellent discussions on several topical issues related to the Banking and Financial Sector and generated some very useful insights. 2. The topic for today’s discussion is ‘Bank Privatisation: Undoing 1969’, which is one of the most widely debated issues for long. The detailed deliberations
ऑक्टो 27, 2021
Micro finance: Empowering a Billion Dreams
1. At the outset, I would like to thank Sa-Dhan for inviting me to deliver this inaugural address. The theme for this year - ‘Revitalizing Financial Inclusion’ is an important issue at the current juncture. The loss of livelihoods and hardships caused by the pandemic calls for a reinvigorated push towards financial inclusion and micro credit for vulnerable and disadvantaged sections of the society who have been worst affected by the pandemic. There exists a strong cas
Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India
1. At the outset, I would like to thank Sa-Dhan for inviting me to deliver this inaugural address. The theme for this year - ‘Revitalizing Financial Inclusion’ is an important issue at the current juncture. The loss of livelihoods and hardships caused by the pandemic calls for a reinvigorated push towards financial inclusion and micro credit for vulnerable and disadvantaged sections of the society who have been worst affected by the pandemic. There exists a strong cas
ऑक्टो 25, 2021
Role of Audit in the Modern Financial System

It gives me great pleasure to be here at the National Academy of Audit and Accounts (NAAA), Shimla today to address the probationers and other officers of the Indian Audit and Accounts Service (IAAS). For the probationers, this is a time when they are embarking upon a journey in the service of the nation as the principal flag bearers of accountability and transparency in public finance and governance. 2. Civil Services play a pivotal role in the overall progress of a

Shri Shaktikanta Das, Governor, Reserve Bank of India

It gives me great pleasure to be here at the National Academy of Audit and Accounts (NAAA), Shimla today to address the probationers and other officers of the Indian Audit and Accounts Service (IAAS). For the probationers, this is a time when they are embarking upon a journey in the service of the nation as the principal flag bearers of accountability and transparency in public finance and governance. 2. Civil Services play a pivotal role in the overall progress of a

ऑक्टो 22, 2021
Chasing the Horizon

Ladies and Gentlemen! 1. It’s a pleasure to be with you this morning. Let me thank Mr. Chandrajit Banerjee, Director General, CII for extending this kind invitation to me for delivering this inaugural talk at the summit organised by CII. NBFC sector has received wide ranging attention for past few years for various reasons. As an important cog of the financial system, it holds immense potential with its ability to reach out to vast cross-section of the population and

Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India

Ladies and Gentlemen! 1. It’s a pleasure to be with you this morning. Let me thank Mr. Chandrajit Banerjee, Director General, CII for extending this kind invitation to me for delivering this inaugural talk at the summit organised by CII. NBFC sector has received wide ranging attention for past few years for various reasons. As an important cog of the financial system, it holds immense potential with its ability to reach out to vast cross-section of the population and

ऑक्टो 14, 2021
India’s Capital Account Management – An assessment
1. In the previous FEDAI Annual Day address in November 2020, Governor Shri Shaktikanta Das had observed that CAC will continue to be approached “as a process rather than an event”. What I will do in this address is to expand on that theme and bring into focus some of the important issues on which, in my opinion, further public debate is warranted, to continue along this process of capital account convertibility. What is capital account convertibility? 2. The balance
Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India
1. In the previous FEDAI Annual Day address in November 2020, Governor Shri Shaktikanta Das had observed that CAC will continue to be approached “as a process rather than an event”. What I will do in this address is to expand on that theme and bring into focus some of the important issues on which, in my opinion, further public debate is warranted, to continue along this process of capital account convertibility. What is capital account convertibility? 2. The balance
सप्टें 28, 2021
Responsible Digital Innovation
Good morning. 1. Fintech, or technology that provides digital financial services is transforming the provision and delivery of financial services. At its most basic level digital technology enables speed – speed in processing information and speed in communication. Processing speed has reduced cost and time for transactions while communication speed has enhanced connectivity of systems expanding the reach of transactions. Taken together, digital technology is changing
Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India
Good morning. 1. Fintech, or technology that provides digital financial services is transforming the provision and delivery of financial services. At its most basic level digital technology enables speed – speed in processing information and speed in communication. Processing speed has reduced cost and time for transactions while communication speed has enhanced connectivity of systems expanding the reach of transactions. Taken together, digital technology is changing
सप्टें 22, 2021
Beyond COVID: Towards a Stronger, Inclusive and Sustainable Economy
I wish to thank the President and other office bearers of the All India Management Association (AIMA) for having invited me to participate in this convention. This is a national management convention and it is apt that the AIMA is organising it. In normal times and even more in times of severe stress, it is the quality and capacity of management that makes the critical difference and enables businesses to not only survive but come out stronger. I am happy to note that
Shri Shaktikanta Das, Governor, Reserve Bank of India
I wish to thank the President and other office bearers of the All India Management Association (AIMA) for having invited me to participate in this convention. This is a national management convention and it is apt that the AIMA is organising it. In normal times and even more in times of severe stress, it is the quality and capacity of management that makes the critical difference and enables businesses to not only survive but come out stronger. I am happy to note that
सप्टें 20, 2021
Heed to Heal - Climate Change is the Emerging Financial Risk
1. A very good morning to all of you. I am thankful to CAFRAL for having given me an opportunity to interact with the participants of the Virtual Conference on Green and Sustainable Finance. 2. The theme of today’s Conference i.e., Green and Sustainable Finance is highly contextual. While the pandemic brought in a myriad set of challenges for the authorities around the world in framing and implementing policies for supporting lives and livelihoods, it has also given u
Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India
1. A very good morning to all of you. I am thankful to CAFRAL for having given me an opportunity to interact with the participants of the Virtual Conference on Green and Sustainable Finance. 2. The theme of today’s Conference i.e., Green and Sustainable Finance is highly contextual. While the pandemic brought in a myriad set of challenges for the authorities around the world in framing and implementing policies for supporting lives and livelihoods, it has also given u
सप्टें 16, 2021
Monetary Policy: Trial by Pandemic

Shri Nilesh Shah, Chairman, CII National Committee on Financial Markets, Shri Vishal Kampani, Co-Chair, Ms. Anuradha Salwan, Head, Financial Sector, CII, Ms. Amita Sarkar, Deputy Director General, CII and friends, I am honoured to be invited to deliver the keynote address in this plenary session of the 12th edition of the Financial Markets Summit organized by the Confederation of Indian Industry (CII). Over the years, the Summit has emerged as a flagship event for tak

Dr. Michael Debabrata Patra, Deputy Governor, Reserve Bank of India

Shri Nilesh Shah, Chairman, CII National Committee on Financial Markets, Shri Vishal Kampani, Co-Chair, Ms. Anuradha Salwan, Head, Financial Sector, CII, Ms. Amita Sarkar, Deputy Director General, CII and friends, I am honoured to be invited to deliver the keynote address in this plenary session of the 12th edition of the Financial Markets Summit organized by the Confederation of Indian Industry (CII). Over the years, the Summit has emerged as a flagship event for tak

सप्टें 13, 2021
Regulatory Framework for Account Aggregators
I extend my gratitude for this invitation and opportunity to be here with you all. Hope all of you are keeping safe in these challenging times. 1. Technology has transformed our lives in this increasingly interconnected world with mobiles and hand-held devices enabling ubiquitous access and broader reach. It has concomitantly enabled businesses to penetrate new markets and new geographies which they were hitherto unable to reach. This growth of technology also has the
Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India
I extend my gratitude for this invitation and opportunity to be here with you all. Hope all of you are keeping safe in these challenging times. 1. Technology has transformed our lives in this increasingly interconnected world with mobiles and hand-held devices enabling ubiquitous access and broader reach. It has concomitantly enabled businesses to penetrate new markets and new geographies which they were hitherto unable to reach. This growth of technology also has the
ऑग 31, 2021
Keynote Address at the 21st FIMMDA-PDAI Annual Conference on August 31, 2021 - Shri Shaktikanta Das, Governor, Reserve Bank of India

It is my pleasure to be part of the Annual FIMMDA-PDAI Conference today. I take this opportunity to place on record the Reserve Bank’s deep appreciation of the key role played by FIMMDA and PDAI in the development of financial markets in India. Both organizations have played a significant role in improving the depth and liquidity of interest rate markets and in supporting primary issuance by the Government. Introduction 2. During May last year, in one of my statements

Shri Shaktikanta Das, Governor, Reserve Bank of India

It is my pleasure to be part of the Annual FIMMDA-PDAI Conference today. I take this opportunity to place on record the Reserve Bank’s deep appreciation of the key role played by FIMMDA and PDAI in the development of financial markets in India. Both organizations have played a significant role in improving the depth and liquidity of interest rate markets and in supporting primary issuance by the Government. Introduction 2. During May last year, in one of my statements

ऑग 13, 2021
Building a More Resilient Financial System in India through Governance Improvements
Ladies and Gentlemen. Warm Greetings. At the outset, let me thank India International Centre for hosting this very important session on building a resilient financial system, when the resilience of the society itself is being tested by the Covid-19 pandemic. At a broader level, resilience is defined as the ability of a system, community or society exposed to hazards to resist, absorb, accommodate to and recover from the effects of a hazard in a timely and efficient ma
Shri M. K. Jain, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen. Warm Greetings. At the outset, let me thank India International Centre for hosting this very important session on building a resilient financial system, when the resilience of the society itself is being tested by the Covid-19 pandemic. At a broader level, resilience is defined as the ability of a system, community or society exposed to hazards to resist, absorb, accommodate to and recover from the effects of a hazard in a timely and efficient ma
जुलै 22, 2021
Central Bank Digital Currency – Is This the Future of Money
Introduction The idea of “Central Bank Digital Currencies” (CBDC) is not a recent development. Some attribute the origins of CBDCs to Nobel laureate James Tobin2, an American economist, who in 1980s suggested that that Federal Reserve Banks in the United States could make available to the public a widely accessible ‘medium with the convenience of deposits and the safety of currency.’ It is only in the last decade, however, that the concept of digital currency has been
Shri T. Rabi Sankar, Deputy Governor, Reserve Bank of India
Introduction The idea of “Central Bank Digital Currencies” (CBDC) is not a recent development. Some attribute the origins of CBDCs to Nobel laureate James Tobin2, an American economist, who in 1980s suggested that that Federal Reserve Banks in the United States could make available to the public a widely accessible ‘medium with the convenience of deposits and the safety of currency.’ It is only in the last decade, however, that the concept of digital currency has been
जुलै 15, 2021
Financial Inclusion – Past, Present and Future

I wish to thank the organisers of the Economic Times Financial Inclusion Summit for inviting me to address this august gathering. Financial inclusion is a key driver of sustained and balanced economic growth which helps reduce income inequality and poverty. While we have made tremendous strides in this area over the years, the pandemic has created new challenges and complexities. The financial system will have a crucial role to fulfil the aspirations and needs of our

Shri Shaktikanta Das, Governor, Reserve Bank of India

I wish to thank the organisers of the Economic Times Financial Inclusion Summit for inviting me to address this august gathering. Financial inclusion is a key driver of sustained and balanced economic growth which helps reduce income inequality and poverty. While we have made tremendous strides in this area over the years, the pandemic has created new challenges and complexities. The financial system will have a crucial role to fulfil the aspirations and needs of our

एप्रि 16, 2021
Open Banking in India
Ladies and Gentlemen, A very warm good morning to you in Brasilia with the hopes and prayers that all of you remain safe and healthy from the clutches of the pandemic that is still raging amongst us. I am grateful to His Excellency, Shri Suresh Reddy, Ambassador of India in Brazil for extending this kind invitation to interact with you all in this futuristic but extremely relevant topic of Open Banking2. 1. The modern world has become increasingly interconnected with
Shri M. Rajeshwar Rao, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen, A very warm good morning to you in Brasilia with the hopes and prayers that all of you remain safe and healthy from the clutches of the pandemic that is still raging amongst us. I am grateful to His Excellency, Shri Suresh Reddy, Ambassador of India in Brazil for extending this kind invitation to interact with you all in this futuristic but extremely relevant topic of Open Banking2. 1. The modern world has become increasingly interconnected with
मार्च 25, 2021
Financial Sector in the New Decade
A very warm good morning to you all. It is indeed an honour for me to be here at the India Economic Conclave 2021 organised by the Times Network. I have been looking forward to participating in this year’s conclave, especially after an enriching experience during my participation in this event in 2019. The theme of this year's conclave, one which resonates very strongly is "India's Decade: Reform. Perform. Transform.” The COVID-19 pandemic has set forth the wheels of
Shri Shaktikanta Das, Governor, Reserve Bank of India
A very warm good morning to you all. It is indeed an honour for me to be here at the India Economic Conclave 2021 organised by the Times Network. I have been looking forward to participating in this year’s conclave, especially after an enriching experience during my participation in this event in 2019. The theme of this year's conclave, one which resonates very strongly is "India's Decade: Reform. Perform. Transform.” The COVID-19 pandemic has set forth the wheels of
फेब्रु 25, 2021
Creating New Opportunities for Growth
I would begin by thanking the Bombay Chamber of Commerce and Industry for the invitation to address this eminent gathering, even if virtually – the compulsive reality of the current times. My heartiest congratulations to the Bombay Chamber of Commerce and Industry for completing 184 years of successful functioning. Besides being the oldest serving Chamber in the country, you have left a significant mark on the destiny of this city as also of the nation. I am happy to
Shri Shaktikanta Das, Governor, Reserve Bank of India
I would begin by thanking the Bombay Chamber of Commerce and Industry for the invitation to address this eminent gathering, even if virtually – the compulsive reality of the current times. My heartiest congratulations to the Bombay Chamber of Commerce and Industry for completing 184 years of successful functioning. Besides being the oldest serving Chamber in the country, you have left a significant mark on the destiny of this city as also of the nation. I am happy to
जाने 16, 2021
Towards a Stable Financial System
At the outset, let me pay my homage to Shri Nani A. Palkhiwala and his grand legacy as a nation builder of modern India. I would also like to convey my sincere appreciation to the Palkhivala Foundation for continuing the tradition of organising Shri Palkhivala Memorial Lectures. I consider it as a great honour to be delivering the 39th Shri Palkhivala Memorial Lecture today, more so – among others – because he was very closely associated with the RBI during his tenure
Shri Shaktikanta Das, Governor, Reserve Bank of India
At the outset, let me pay my homage to Shri Nani A. Palkhiwala and his grand legacy as a nation builder of modern India. I would also like to convey my sincere appreciation to the Palkhivala Foundation for continuing the tradition of organising Shri Palkhivala Memorial Lectures. I consider it as a great honour to be delivering the 39th Shri Palkhivala Memorial Lecture today, more so – among others – because he was very closely associated with the RBI during his tenure
डिसें 16, 2020
National Strategy on Financial Education 2020-25
I wish to thank NCAER for inviting me to deliver the key note address at this webinar on National Strategy for Financial Education. I appreciate the thoughtful initiative of NCAER in choosing this topic for the webinar. As we inch towards the close of what has been an unprecedented year in terms of loss of lives and livelihood and the way of living in general, it would be appropriate to look at the area of financial inclusion and literacy which has both broad macro le
Shri Shaktikanta Das, Governor, Reserve Bank of India
I wish to thank NCAER for inviting me to deliver the key note address at this webinar on National Strategy for Financial Education. I appreciate the thoughtful initiative of NCAER in choosing this topic for the webinar. As we inch towards the close of what has been an unprecedented year in terms of loss of lives and livelihood and the way of living in general, it would be appropriate to look at the area of financial inclusion and literacy which has both broad macro le
नोव्हें 26, 2020
Accelerating Financial Market Reforms in India
1. I wish to thank FEDAI for inviting me on the occasion of their 4th Annual Day. This is an opportune moment to look back and reflect on the developments of the last one year in financial markets and, in particular, the foreign exchange markets. The year 2020 has been one like never before. Faced with an unknown crisis which brought the global economy to a sudden stop, recent policy discourse has been dominated, and rightly so, by the impact of the pandemic. Despite
Shri Shaktikanta Das, Governor, Reserve Bank of India
1. I wish to thank FEDAI for inviting me on the occasion of their 4th Annual Day. This is an opportune moment to look back and reflect on the developments of the last one year in financial markets and, in particular, the foreign exchange markets. The year 2020 has been one like never before. Faced with an unknown crisis which brought the global economy to a sudden stop, recent policy discourse has been dominated, and rightly so, by the impact of the pandemic. Despite

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