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ଅପ୍ରେଲ 01, 2010
Hon’ble Prime Minister, Dr. Manmohan Singh’s Address at the Platinum Jubilee Celebrations of RBI held at National Centre for Performing Arts, Mumbai
“It is indeed a great pleasure to be here in Mumbai for the Platinum Jubilee celebrations of the Reserve Bank of India. For me, this is also a very special moment of nostalgia. I spent some very memorable years in this institution as its Governor. My wife and I cherish the memories of many new enduring friendships that we made during those memorable days. I also recall with deep appreciation the role played by the Reserve Bank in helping the Government of India in the
Dr. Manmohan Singh, Hon’ble Prime Minister
“It is indeed a great pleasure to be here in Mumbai for the Platinum Jubilee celebrations of the Reserve Bank of India. For me, this is also a very special moment of nostalgia. I spent some very memorable years in this institution as its Governor. My wife and I cherish the memories of many new enduring friendships that we made during those memorable days. I also recall with deep appreciation the role played by the Reserve Bank in helping the Government of India in the
ମାର୍ଚ୍ଚ 02, 2010
Pursuit of Complete Markets – The Missing Perspectives
It is my pleasure to be delivering the keynote address at the FEDAI conference being hosted in this beautiful country. India and Kenya share a historical relationship and I am delighted to have got an opportunity to visit this country. I have been following some of the recent interesting initiatives by the Central Bank of Kenya and was really impressed by the developments in the areas such as payment systems, credit information sharing, currency management, financial
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
It is my pleasure to be delivering the keynote address at the FEDAI conference being hosted in this beautiful country. India and Kenya share a historical relationship and I am delighted to have got an opportunity to visit this country. I have been following some of the recent interesting initiatives by the Central Bank of Kenya and was really impressed by the developments in the areas such as payment systems, credit information sharing, currency management, financial
ଫେବୃଆରୀ 24, 2010
Welcome Remarks by Dr. D. Subbarao, Governor, Reserve Bank of India at the L. K. Jha Memorial Lecture
On behalf of the Reserve Bank of India, I have great pleasure in welcoming Prof. John Brian Taylor who will shortly be delivering the L. K. Jha Memorial Lecture. We are very happy to welcome also Ms. Raye Allyn Taylor who has accompanied Prof. Taylor. I also want to acknowledge the family members of late Dr. L.K. Jha - Smt. Dipika Maharaj Singh, Smt. and Shri. Aditya Maharaj Singh, Trisha Maharaj Singh. Many thanks to all of you for rejoining the RBI family. And of co
Dr. D. Subbarao, Governor, Reserve Bank of India
On behalf of the Reserve Bank of India, I have great pleasure in welcoming Prof. John Brian Taylor who will shortly be delivering the L. K. Jha Memorial Lecture. We are very happy to welcome also Ms. Raye Allyn Taylor who has accompanied Prof. Taylor. I also want to acknowledge the family members of late Dr. L.K. Jha - Smt. Dipika Maharaj Singh, Smt. and Shri. Aditya Maharaj Singh, Trisha Maharaj Singh. Many thanks to all of you for rejoining the RBI family. And of co
ଫେବୃଆରୀ 24, 2010
Lessons from the Financial Crisis for Monetary Policy in Emerging Markets
I am honored to give this lecture in memory of L.K. Jha. It is a particular privilege to deliver it at this Platinum Jubilee celebration of the Reserve Bank of India. L. K. Jha was a truly outstanding economist and public servant, with experience at all levels of government. He rose up through the Indian Civil Service to become the Principal Secretary to the Prime Minister, after which he became Governor of the Reserve Bank of India, and then Ambassador to the United
Prof. John Brian Taylor, Guest Speaker
I am honored to give this lecture in memory of L.K. Jha. It is a particular privilege to deliver it at this Platinum Jubilee celebration of the Reserve Bank of India. L. K. Jha was a truly outstanding economist and public servant, with experience at all levels of government. He rose up through the Indian Civil Service to become the Principal Secretary to the Prime Minister, after which he became Governor of the Reserve Bank of India, and then Ambassador to the United
ଫେବୃଆରୀ 15, 2010
Welcome remarks by Dr. D. Subbarao, Governor, Reserve Bank of India at the Fourteenth C. D. Deshmukh Memorial Lecture on February 15, 2010 at Mumbai
On behalf of Reserve Bank of India, I have great pleasure in welcoming Lord Turner, Chairman of the Financial Services Authority of the UK, who will shortly be delivering the C.D. Deshmukh Memorial Lecture. I also want to specially acknowledge the family members of late Sir C.D. Deshmukh – Smt. and Shri Atul Deshmukh, Shri Ashish Deshmukh and Smt. and Shri Chitnis - who are here with us today. Thank you very much to all of you for rejoining the RBI family today. And,
Dr. D. Subbarao, Governor, Reserve Bank of India
On behalf of Reserve Bank of India, I have great pleasure in welcoming Lord Turner, Chairman of the Financial Services Authority of the UK, who will shortly be delivering the C.D. Deshmukh Memorial Lecture. I also want to specially acknowledge the family members of late Sir C.D. Deshmukh – Smt. and Shri Atul Deshmukh, Shri Ashish Deshmukh and Smt. and Shri Chitnis - who are here with us today. Thank you very much to all of you for rejoining the RBI family today. And,
ଫେବୃଆରୀ 15, 2010
“After the Crises: Assessing the Costs and Benefits of Financial Liberalisation”
Mr Governor, ladies and gentlemen, it is a great honour to have been invited to give the 14th Chintaman Deshmukh memorial lecture, and a great pleasure to be with you here in Mumbai. The Reserve Bank of India has a high reputation as a centre of thoughtful analysis of the important issues of financial stability and optimal policy which concern policy makers throughout the world, and a high reputation for having helped steer India through the recent financial turmoil.
Lord Adair Turner, Chairman, Financial Services Authority, United Kingdom
Mr Governor, ladies and gentlemen, it is a great honour to have been invited to give the 14th Chintaman Deshmukh memorial lecture, and a great pleasure to be with you here in Mumbai. The Reserve Bank of India has a high reputation as a centre of thoughtful analysis of the important issues of financial stability and optimal policy which concern policy makers throughout the world, and a high reputation for having helped steer India through the recent financial turmoil.
ଫେବୃଆରୀ 12, 2010
Challenges for Central Banks in the Context of the Crisis
Central banks and central bankers have been at the heart of the global financial crisis. We have been blamed for policies and actions that got the world into the crisis; we are also being praised for leading from the front in getting the world out of the crisis. I believe this is fair critique - central banks have been a part of the problem and a part of the solution. 2. As we emerge out of the crisis, central banks have their task cut out for them: to distil the less
Dr. D. Subbarao, Governor, Reserve Bank of India
Central banks and central bankers have been at the heart of the global financial crisis. We have been blamed for policies and actions that got the world into the crisis; we are also being praised for leading from the front in getting the world out of the crisis. I believe this is fair critique - central banks have been a part of the problem and a part of the solution. 2. As we emerge out of the crisis, central banks have their task cut out for them: to distil the less
ଫେବୃଆରୀ 12, 2010
First International Research Conference - Transcript of day 2 (edited)
Panel Discussion 1 Panel Discussion 2 Transcript of First International Research Conference Challenges to Central Banking in the Context of Financial Crisis Governor’s Panel Discussion on International Monetary System Mumbai February 13, 2010 Chair: Martin Wolf, Associate Editor and Chief Economics Commentator Financial Times, London Panelists: Christian Noyer, Governor, Bank of France. Glenn Robert Stevens, Governor, Reserve Bank of Australia. Duvvuri Subbarao, Gover
Dr. D. Subbarao, Governor, Reserve Bank of India
Panel Discussion 1 Panel Discussion 2 Transcript of First International Research Conference Challenges to Central Banking in the Context of Financial Crisis Governor’s Panel Discussion on International Monetary System Mumbai February 13, 2010 Chair: Martin Wolf, Associate Editor and Chief Economics Commentator Financial Times, London Panelists: Christian Noyer, Governor, Bank of France. Glenn Robert Stevens, Governor, Reserve Bank of Australia. Duvvuri Subbarao, Gover
ଫେବୃଆରୀ 12, 2010
First International Research Conference : Presentations by speakers
February 12, 2010 Andrew Michael Spence - Challenges to Central Banking in the Context of Financial Crisis (earlier unedited transcript replaced with the edited version) Dr. D. Subbarao - Challenges to Central Banks Irma Rosenberg - The Impossible Trinity John C Williams - Two Cheers for Bagehot Jorgen Elmeskov - Credit Freeze, Dysfunctional Markets Krishna Srinivasan - Crisis & Implications Lars E. O. Svensson - Inflation Targeting Stephen Cecchetti - Future of P
Andrew Michael Spence, Guest Speaker
February 12, 2010 Andrew Michael Spence - Challenges to Central Banking in the Context of Financial Crisis (earlier unedited transcript replaced with the edited version) Dr. D. Subbarao - Challenges to Central Banks Irma Rosenberg - The Impossible Trinity John C Williams - Two Cheers for Bagehot Jorgen Elmeskov - Credit Freeze, Dysfunctional Markets Krishna Srinivasan - Crisis & Implications Lars E. O. Svensson - Inflation Targeting Stephen Cecchetti - Future of P
ଫେବୃଆରୀ 12, 2010
Challenges to Central Banking in the Context of Financial Crisis
1. Professor Michael Spence, Governor Dr. Subbarao, Deputy Governors, distinguished invitees and friends. On behalf of the Reserve Bank of India, I extend a hearty welcome to you all to our First International Research Conference in this great city of Mumbai. 2. Mumbai, a fishing hamlet was gifted in dowry by Portugal to England, and later leased to the East India Company for £10. Today you can’t get even a square inch of land in Mumbai for that price. Mumbai has move
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
1. Professor Michael Spence, Governor Dr. Subbarao, Deputy Governors, distinguished invitees and friends. On behalf of the Reserve Bank of India, I extend a hearty welcome to you all to our First International Research Conference in this great city of Mumbai. 2. Mumbai, a fishing hamlet was gifted in dowry by Portugal to England, and later leased to the East India Company for £10. Today you can’t get even a square inch of land in Mumbai for that price. Mumbai has move
ଫେବୃଆରୀ 09, 2010
The Global Financial Crisis: Genesis, Impact and Lessons
Respected Dr. Reddy, Prof. T.N.Srinivasan, Prof. S. D. Tendulkar, Prof. T. Krishnakumar, distinguished invitees and friends. I thank the C.R.Rao Advanced Institute of Mathematics, Statistics and Computer Sciences and the University of Hyderabad for giving this opportunity to share my thoughts on the global financial crisis. I am humbled speaking on this subject in the presence of Dr. Reddy, the distinguished former Governor of the Reserve Bank of India, who is widely
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
Respected Dr. Reddy, Prof. T.N.Srinivasan, Prof. S. D. Tendulkar, Prof. T. Krishnakumar, distinguished invitees and friends. I thank the C.R.Rao Advanced Institute of Mathematics, Statistics and Computer Sciences and the University of Hyderabad for giving this opportunity to share my thoughts on the global financial crisis. I am humbled speaking on this subject in the presence of Dr. Reddy, the distinguished former Governor of the Reserve Bank of India, who is widely
ଜାନୁଆରୀ 16, 2010
Commemorative Stamp Release by the President Governor’s Welcome Address
On behalf of the Reserve Bank of India, it is my pleasure and privilege to welcome Your Excellency, the Hon’ble President of India for the release of the Commemorative Stamp marking the Reserve Bank’s Platinum Jubilee. This occasion, Your Excellency, is truly special. This is the first time the First Citizen of the country has graced the New Delhi office of the Reserve Bank which has the honour and distinction of having been inaugurated by our first Prime Minister, Pa
Dr. D. Subbarao, Governor, Reserve Bank of India
On behalf of the Reserve Bank of India, it is my pleasure and privilege to welcome Your Excellency, the Hon’ble President of India for the release of the Commemorative Stamp marking the Reserve Bank’s Platinum Jubilee. This occasion, Your Excellency, is truly special. This is the first time the First Citizen of the country has graced the New Delhi office of the Reserve Bank which has the honour and distinction of having been inaugurated by our first Prime Minister, Pa
ଜାନୁଆରୀ 16, 2010
Speech by Her Excellency the President of India, Shrimati Pratibha Devisingh Patil, at the Platinum Jubilee Celebrations and Release of Postage Stamp on the Reserve Bank of India on 16th January, 2010 at New Delhi
Ladies and Gentlemen, I am happy to be participating at this function to mark the Platinum Jubilee of the Reserve Bank of India and to release its Commemorative Stamp. I convey my greetings to its Governor, the Directors and the staff. The Reserve Bank of India has been a part of the country’s economic journey. It has stood at the centre of India’s financial system. From ensuring stability of interest and exchange rates to providing liquidity; from ensuring bank penet
Shrimati Pratibha Devisingh Patil, THE HON’BLE PRESIDENT OF INDIA
Ladies and Gentlemen, I am happy to be participating at this function to mark the Platinum Jubilee of the Reserve Bank of India and to release its Commemorative Stamp. I convey my greetings to its Governor, the Directors and the staff. The Reserve Bank of India has been a part of the country’s economic journey. It has stood at the centre of India’s financial system. From ensuring stability of interest and exchange rates to providing liquidity; from ensuring bank penet
ଜାନୁଆରୀ 16, 2010
Speech by Shri Namo Narain Meena, Hon’ble Minister of State for Banking and Insurance on the release of RBI Commemorative Stamp on 16.01.2010 at New Delhi (As prepared for Delivery)
Your Excellency Hon’ble President of India, Shri Mukherjee, Hon’ble Finance Minister, Shri Kamat, Hon’ble Minister for Communication, Dr. Subbarao, Governor, RBI, distinguished guests, friends from media, ladies and gentlemen. It is a great pleasure being here today on this momentous occasion of release of Postage Stamp commemorating the Platinum Jubilee year of the Reserve Bank of India. For me, this occasion is especially significant as we at the Ministry of Finance
Shri Namo Narain Meena, Hon’ble Minister of State for Banking and Insurance
Your Excellency Hon’ble President of India, Shri Mukherjee, Hon’ble Finance Minister, Shri Kamat, Hon’ble Minister for Communication, Dr. Subbarao, Governor, RBI, distinguished guests, friends from media, ladies and gentlemen. It is a great pleasure being here today on this momentous occasion of release of Postage Stamp commemorating the Platinum Jubilee year of the Reserve Bank of India. For me, this occasion is especially significant as we at the Ministry of Finance
ଜାନୁଆରୀ 16, 2010
Speech by Shri Gurudas Kamat, Hon’ble Minister of State for Information and Communication Technology on the release of Postage Stamp on Reserve Bank of India on 16.01.2010 at New Delhi (As prepared for Delivery)
Her Excellency the President of India, Smt.Pratibha Devisingh Patil, Hon’ble Union Finance Minister, Shri Pranab Mukherjee, Hon’ble Minister of State for Banking and Insurance, Shri Namo Narain Meena Governor, Reserve Bank of India, Dr D. Subba Rao Distinguished guests, Today we have gathered to celebrate the Platinum Jubilee Year of the Reserve Bank of India with the release of a commemorative postage stamp by Her Excellency, the President of India. It is my pleasure
Shri Gurudas Kamat, Hon’ble Minister of State for Information and Communication Technology
Her Excellency the President of India, Smt.Pratibha Devisingh Patil, Hon’ble Union Finance Minister, Shri Pranab Mukherjee, Hon’ble Minister of State for Banking and Insurance, Shri Namo Narain Meena Governor, Reserve Bank of India, Dr D. Subba Rao Distinguished guests, Today we have gathered to celebrate the Platinum Jubilee Year of the Reserve Bank of India with the release of a commemorative postage stamp by Her Excellency, the President of India. It is my pleasure
ଜାନୁଆରୀ 16, 2010
Speech by Shri Pranab Mukherjee, Hon’ble Finance Minister on the release of RBI Commemorative Stamp on 16.01.2010 at New Delhi (As prepared for Delivery)
Your Excellency Hon’ble President of India, Shri Kamat, Hon’ble Minister for Communication, Shri Meena, Hon’ble Minister of State for Finance, Dr. Subbarao, Governor, RBI and friends, I am delighted to be here today in your midst on this occasion. 2. I congratulate all of you on the happy occasion of the celebration of the Platinum Jubilee of your institution. As many of you know, I have had a close association with RBI over the years. My interest in the central bank
Shri Pranab Mukherjee, Hon’ble Finance Minister
Your Excellency Hon’ble President of India, Shri Kamat, Hon’ble Minister for Communication, Shri Meena, Hon’ble Minister of State for Finance, Dr. Subbarao, Governor, RBI and friends, I am delighted to be here today in your midst on this occasion. 2. I congratulate all of you on the happy occasion of the celebration of the Platinum Jubilee of your institution. As many of you know, I have had a close association with RBI over the years. My interest in the central bank
ଜାନୁଆରୀ 15, 2010
Book Release by the Prime Minister ‘Perspectives on Central Banking: Governors Speak’ 15 January 2010
The compendium of key speeches of RBI Governors, entitled ‘Perspectives on Central Banking: Governors Speak’ is the Reserve Bank of India’s Platinum Jubilee tribute to its past leaders. All of us in the Reserve Bank attach immense value to the fact that this book is being released today by the Hon’ble Prime Minister, Dr. Manmohan Singh, who was himself Governor of the Reserve Bank from 1982 to 1985. We are delighted that besides the Prime Minister, three former Govern
Dr. D. Subbarao, Governor, Reserve Bank of India
The compendium of key speeches of RBI Governors, entitled ‘Perspectives on Central Banking: Governors Speak’ is the Reserve Bank of India’s Platinum Jubilee tribute to its past leaders. All of us in the Reserve Bank attach immense value to the fact that this book is being released today by the Hon’ble Prime Minister, Dr. Manmohan Singh, who was himself Governor of the Reserve Bank from 1982 to 1985. We are delighted that besides the Prime Minister, three former Govern
ଜାନୁଆରୀ 04, 2010
Financial Markets – Some Regulatory Issues and Recent Developments
1. It is my pleasure to be here today again, at the FIMMDA-PDAI annual conference as we enter into a new decade. The last decade in the Indian financial sector has been a forward continuum marked by significant developments. It was in 1999 that guidelines for interest rate swaps and forward rate agreements were first introduced. 1999 was also the year when FEMA was enacted and since then it has been a process of measured opening up of the capital account. That was als
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
1. It is my pleasure to be here today again, at the FIMMDA-PDAI annual conference as we enter into a new decade. The last decade in the Indian financial sector has been a forward continuum marked by significant developments. It was in 1999 that guidelines for interest rate swaps and forward rate agreements were first introduced. 1999 was also the year when FEMA was enacted and since then it has been a process of measured opening up of the capital account. That was als
ଡିସେମ୍ବର 30, 2009
India's Economic Recovery : Drivers and Risks - Subir Gokarn, Deputy Governor
THE GLOBAL SCENARIO Global Growth: Modest signs of recovery (Growth in per cent) Jan-09 Apr-09 July-09 Aug-09 Oct-09 Global 2009 0.5 -1.3 -1.4 -1.3 -1.1 2010 3.0 1.9 2.5 2.9 3.1 Advanced Economies 2009 -2.0 -3.8 -3.8 -3.7 -3.4 2010 1.1 0.0 0.6 1.0 1.3 Emerging and Developing Economies 2009 3.3 1.6 1.5 1.5 1.7 2010 5.0 4.0 4.7 5.0 5.1 India 2009 5.1 4.5 5.4 5.3 5.4 2010 6.5 5.6 6.5 6.5 6.4 Source: International Monetary Fund. Global Inflation: Asymmetric patterns Y-o-Y
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
THE GLOBAL SCENARIO Global Growth: Modest signs of recovery (Growth in per cent) Jan-09 Apr-09 July-09 Aug-09 Oct-09 Global 2009 0.5 -1.3 -1.4 -1.3 -1.1 2010 3.0 1.9 2.5 2.9 3.1 Advanced Economies 2009 -2.0 -3.8 -3.8 -3.7 -3.4 2010 1.1 0.0 0.6 1.0 1.3 Emerging and Developing Economies 2009 3.3 1.6 1.5 1.5 1.7 2010 5.0 4.0 4.7 5.0 5.1 India 2009 5.1 4.5 5.4 5.3 5.4 2010 6.5 5.6 6.5 6.5 6.4 Source: International Monetary Fund. Global Inflation: Asymmetric patterns Y-o-Y
ଡିସେମ୍ବର 29, 2009
Current Macroeconomic Developments in India
The Indian economy continues to be one of the fastest growing economies in the world, and the recovery from the slowdown in growth witnessed in the aftermath of the global crisis has been sharper than what was generally anticipated for the second quarter of 2009-10. The slowdown in growth from the average of 8.8 per cent during 2003-08 to 5.8 per cent in the second half of 2008-09 had necessitated clear prioritization of policy focus on management of recovery, which w
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
The Indian economy continues to be one of the fastest growing economies in the world, and the recovery from the slowdown in growth witnessed in the aftermath of the global crisis has been sharper than what was generally anticipated for the second quarter of 2009-10. The slowdown in growth from the average of 8.8 per cent during 2003-08 to 5.8 per cent in the second half of 2008-09 had necessitated clear prioritization of policy focus on management of recovery, which w

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