Speeches - Regulating Commercial Banking - ଆରବିଆଇ - Reserve Bank of India
speeches
‘He is most free from danger, who even when safe, is on his guard.’ - Publilius Syrus (1st Century B.C.)
It is an accepted norm of organising human societies that with the right to liberty comes good governance, the latter being designed around laws (formal governance) or norms (informal governance) restricting excessive exertions of the right to liberty: where individual actions are deemed to create adverse spillovers (‘negative externalities’) on the rest of the society, laws or norms – backed by an enforcement machinery – draw a line as to what is acceptable human behaviour. Governance could be for the society as a whole or an individual firm or entity or a group of entities (e.g., the public sector). An important term we all come across in our functioning, especially in the public sector, is Vigilance, which is the essence of what all of you are attempting to achieve at the Central Vigilance Commission, established in 1964 by the Government of India, to address corruption in the government sector.
‘He is most free from danger, who even when safe, is on his guard.’ - Publilius Syrus (1st Century B.C.)
It is an accepted norm of organising human societies that with the right to liberty comes good governance, the latter being designed around laws (formal governance) or norms (informal governance) restricting excessive exertions of the right to liberty: where individual actions are deemed to create adverse spillovers (‘negative externalities’) on the rest of the society, laws or norms – backed by an enforcement machinery – draw a line as to what is acceptable human behaviour. Governance could be for the society as a whole or an individual firm or entity or a group of entities (e.g., the public sector). An important term we all come across in our functioning, especially in the public sector, is Vigilance, which is the essence of what all of you are attempting to achieve at the Central Vigilance Commission, established in 1964 by the Government of India, to address corruption in the government sector.
Thank you to organizers of Indian Banks’ Association for inviting me today. To all the Award winners, congratulations on your stellar achievements and the innovative spirit you have shown to be today’s worthy recipients. Technology, “Fin Tech” as you say, is taking banking and intermediation into unchartered territories. I have yet to fathom the full import of these sweeping changes. In the meantime, my subject matter today will be more prosaic and somewhat sobering.
Thank you to organizers of Indian Banks’ Association for inviting me today. To all the Award winners, congratulations on your stellar achievements and the innovative spirit you have shown to be today’s worthy recipients. Technology, “Fin Tech” as you say, is taking banking and intermediation into unchartered territories. I have yet to fathom the full import of these sweeping changes. In the meantime, my subject matter today will be more prosaic and somewhat sobering.
ପେଜ୍ ଅନ୍ତିମ ଅପଡେଟ୍ ହୋଇଛି: ସେପ୍ଟେମ୍ବର 06, 2024