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ਜੂਨ 18, 2010
Financial Deepening by putting Financial Inclusion Campaign into Mission Mode
Dr C Rangarajan, Hon’ble Chairman, Economic Advisory Council to the Prime Minister, Mr Hari Sankaran, Managing Director and CEO, IL& FS, Shri S. S. Tarapore, Distinguished Fellow, Skoch Development Foundation, Shri J Sriram, CEO- Mobile Commerce Venture, Bharti Airtel Ltd, and of course the main organiser of this function Mr Sameer Kochhar, distinguished guests, ladies and gentlemen. I have come here to say a few words about financial inclusion which is closely re
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Dr C Rangarajan, Hon’ble Chairman, Economic Advisory Council to the Prime Minister, Mr Hari Sankaran, Managing Director and CEO, IL& FS, Shri S. S. Tarapore, Distinguished Fellow, Skoch Development Foundation, Shri J Sriram, CEO- Mobile Commerce Venture, Bharti Airtel Ltd, and of course the main organiser of this function Mr Sameer Kochhar, distinguished guests, ladies and gentlemen. I have come here to say a few words about financial inclusion which is closely re
ਜੂਨ 18, 2010
Harnessing Technology to Bank the Unbanked
It is always a delight to be here in this wonderful city of Hyderabad. The location of IDRBT in Hyderabad is not an accident; it is a reflection of the growing reputation of Hyderabad as a premiere location for IT industry. Hailing as I do from this state, I know that we came from behind; twenty five years ago, there were several other cities ahead of Hyderabad on the technology scene; today, we are among the front runners. This remarkable reinvention of Hyderabad as
Dr. D. Subbarao, Governor, Reserve Bank of India
It is always a delight to be here in this wonderful city of Hyderabad. The location of IDRBT in Hyderabad is not an accident; it is a reflection of the growing reputation of Hyderabad as a premiere location for IT industry. Hailing as I do from this state, I know that we came from behind; twenty five years ago, there were several other cities ahead of Hyderabad on the technology scene; today, we are among the front runners. This remarkable reinvention of Hyderabad as
ਜੂਨ 14, 2010
Perspectives on Lending Rates in India
Shri Dua, Shri Sen and friends. I thank the Bankers’ Club, Kolkata and Shri J.P. Dua, Chairman, Allahabad Bank for providing me the opportunity to speak to you this evening. As you know, banks will be switching over to a ‘base rate’ system of loan pricing from 1st July 2010. Besides the announcement of base rate, what is of greater significance is that it brings to fruition complete deregulation of rupee lending rates of banks, a process that began two decades ago. Th
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
Shri Dua, Shri Sen and friends. I thank the Bankers’ Club, Kolkata and Shri J.P. Dua, Chairman, Allahabad Bank for providing me the opportunity to speak to you this evening. As you know, banks will be switching over to a ‘base rate’ system of loan pricing from 1st July 2010. Besides the announcement of base rate, what is of greater significance is that it brings to fruition complete deregulation of rupee lending rates of banks, a process that began two decades ago. Th
ਜੂਨ 07, 2010
Financial Regulation and Financial Inclusion – Working Together or at Cross-purposes
The case for financial inclusion is not based on the principle of equity alone – access to affordable banking services is required for inclusive growth with stability. Achieving financial inclusion in a country like India with a large and diverse population with significant segments in rural and unorganised sectors requires a high level of penetration by the formal financial system. Even in areas that are well covered by banks, there are sections of society excluded f
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
The case for financial inclusion is not based on the principle of equity alone – access to affordable banking services is required for inclusive growth with stability. Achieving financial inclusion in a country like India with a large and diverse population with significant segments in rural and unorganised sectors requires a high level of penetration by the formal financial system. Even in areas that are well covered by banks, there are sections of society excluded f
ਜੂਨ 01, 2010
RBI Archives - Way Forward
Photograph I am delighted to be here today for the inauguration of the RBI Archives Museum. You will all recall that we have just concluded the Platinum Jubilee celebrations of the Reserve Bank. The events and initiatives that we had taken up as part of the celebrations centred around introspection on the evolution of the Reserve Bank, reflection on its current and future challenges, and on how the Reserve Bank can fulfill its objectives even better so that it continu
Dr. D. Subbarao, Governor, Reserve Bank of India
Photograph I am delighted to be here today for the inauguration of the RBI Archives Museum. You will all recall that we have just concluded the Platinum Jubilee celebrations of the Reserve Bank. The events and initiatives that we had taken up as part of the celebrations centred around introspection on the evolution of the Reserve Bank, reflection on its current and future challenges, and on how the Reserve Bank can fulfill its objectives even better so that it continu
ਮਈ 21, 2010
Bank Credit to MSMEs: Present Status and Way Forward
Dr P M Mathew, Director, ISED, Dr K N Kabra, Chairman, ISED, Shri T O Sooraj, Director, Industries and Commerce, Government of Kerala, Dr Yerram Raju, senior fellow, ISED, senior bankers, MSME entrepreneurs, other distinguished guests, ladies and gentlemen. I am indeed very happy to be in your midst today for the release of the 13th issue of the India, Micro Small and Medium Enterprises Report Series of your Institute. The MSMEs, given their limitations and constraint
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Dr P M Mathew, Director, ISED, Dr K N Kabra, Chairman, ISED, Shri T O Sooraj, Director, Industries and Commerce, Government of Kerala, Dr Yerram Raju, senior fellow, ISED, senior bankers, MSME entrepreneurs, other distinguished guests, ladies and gentlemen. I am indeed very happy to be in your midst today for the release of the 13th issue of the India, Micro Small and Medium Enterprises Report Series of your Institute. The MSMEs, given their limitations and constraint
ਮਈ 12, 2010
Volatility in Capital Flows: Some Perspectives
As the crisis is ebbing, capital inflows into emerging market economies (EMEs) have resumed - a consequence of a global system awash with liquidity, the assurance of low interest rates ruling in advanced economies over ‘an extended period’ and the prospects of robust growth in EMEs. According to the IMF, net private financial flows to emerging and developing economies increased from US$ 254 billion in 2006 to US$ 689 billion in 2007 and then declined, at the height of
Dr. D. Subbarao, Governor, Reserve Bank of India
As the crisis is ebbing, capital inflows into emerging market economies (EMEs) have resumed - a consequence of a global system awash with liquidity, the assurance of low interest rates ruling in advanced economies over ‘an extended period’ and the prospects of robust growth in EMEs. According to the IMF, net private financial flows to emerging and developing economies increased from US$ 254 billion in 2006 to US$ 689 billion in 2007 and then declined, at the height of
ਅਪ੍ਰੈ 30, 2010
Key note Address by Dr K.C.Chakrabarty, Deputy Governor, at the Review Meet on Implementation of Revival Package for Short Term Rural Cooperative Credit Structure organised by National Federation of State Cooperative Banks (NAFSCOB) at New Delhi -
Shri P. K. Basu, Union Agriculture and Cooperation Secretary, Dr. Chandrapal Singh Yadav, President, NCUI & Chairman, KRIBHCO, Dr Bijender Singh, Chairman, NAFSCOB, Shri B. Subrahmanyam, MD, NAFSCOB, Smt Roshan R. Warjri, Vice-Chairperson, NAFSCOB, distinguished speakers and panelists, distinguished guests, ladies and gentlemen. Introduction 1.  At the outset, I congratulate the National Federation of State Co-operative Banks for organizing this review meet o
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri P. K. Basu, Union Agriculture and Cooperation Secretary, Dr. Chandrapal Singh Yadav, President, NCUI & Chairman, KRIBHCO, Dr Bijender Singh, Chairman, NAFSCOB, Shri B. Subrahmanyam, MD, NAFSCOB, Smt Roshan R. Warjri, Vice-Chairperson, NAFSCOB, distinguished speakers and panelists, distinguished guests, ladies and gentlemen. Introduction 1.  At the outset, I congratulate the National Federation of State Co-operative Banks for organizing this review meet o
ਅਪ੍ਰੈ 27, 2010
India and the Global Financial Crisis Transcending from Recovery to Growth
India clocked average growth of 9 per cent per annum in the five years to 2007/08. That growth momentum was interrupted by the financial crisis which impacted India too, more than we had originally thought but less than it did most other countries. Despite falling below 6 per cent for one quarter, the growth for the full year 2008/09 was a resilient 6.7 per cent. Current estimates are that the economy had grown between 7.2 and 7.5 per cent for the just ended fiscal ye
Dr. D. Subbarao, Governor, Reserve Bank of India
India clocked average growth of 9 per cent per annum in the five years to 2007/08. That growth momentum was interrupted by the financial crisis which impacted India too, more than we had originally thought but less than it did most other countries. Despite falling below 6 per cent for one quarter, the growth for the full year 2008/09 was a resilient 6.7 per cent. Current estimates are that the economy had grown between 7.2 and 7.5 per cent for the just ended fiscal ye
ਅਪ੍ਰੈ 26, 2010
New Paradigms in IT Security in Indian Banks
Shri M. V. Nair, Chairman, IBA and CMD, Union Bank of India, Shri B. Sambamurthy, Director, IDRBT, Shri Shyamal Ghosh, Chairman, DSCI, Dr. K. Ramakrishnan, CEO, IBA, distinguished speakers and panelists, IT and IT Security professionals, distinguished guests, ladies and gentlemen. 2. Information is at the heart of today’s business, and the all-pervasive impact of Information Technology in harnessing, collating and processing huge volumes of information is definitive.
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri M. V. Nair, Chairman, IBA and CMD, Union Bank of India, Shri B. Sambamurthy, Director, IDRBT, Shri Shyamal Ghosh, Chairman, DSCI, Dr. K. Ramakrishnan, CEO, IBA, distinguished speakers and panelists, IT and IT Security professionals, distinguished guests, ladies and gentlemen. 2. Information is at the heart of today’s business, and the all-pervasive impact of Information Technology in harnessing, collating and processing huge volumes of information is definitive.
ਅਪ੍ਰੈ 25, 2010
Statement by Mr. Duvvuri Subbarao, Governor, Reserve Bank of India at IMFC
Statement by Mr. Duvvuri Subbarao, Governor, Reserve Bank of India at IMFC Leader of the Indian Delegation to the International Monetary and Financial Committee Washington D.C, April 24, 2010 Mr. Chairman: Confounding our worst fears, the turn around in the global economy has been much faster than we had anticipated as recently as only a few months ago when we met in Istanbul. The global economy has experienced three quarters of positive growth following the sharp dec
Dr. D. Subbarao, Governor, Reserve Bank of India
Statement by Mr. Duvvuri Subbarao, Governor, Reserve Bank of India at IMFC Leader of the Indian Delegation to the International Monetary and Financial Committee Washington D.C, April 24, 2010 Mr. Chairman: Confounding our worst fears, the turn around in the global economy has been much faster than we had anticipated as recently as only a few months ago when we met in Istanbul. The global economy has experienced three quarters of positive growth following the sharp dec
ਅਪ੍ਰੈ 15, 2010
The Economics of Ecosystems and Biodiversity (TEEB) Workshop
Ladies and Gentleman, Herman Daly, a leading ecological economist, who received the 1996 Right Livelihood Award for ‘defining a path of ecological economics that integrates the key elements of ethics, quality of life, environment and community’, said: “There is something fundamentally wrong with treating the earth as if it were a business in liquidation." 2. I am extremely happy to inaugurate this workshop on The Economics of Ecosystems and Biodiversity (TEEB) organis
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
Ladies and Gentleman, Herman Daly, a leading ecological economist, who received the 1996 Right Livelihood Award for ‘defining a path of ecological economics that integrates the key elements of ethics, quality of life, environment and community’, said: “There is something fundamentally wrong with treating the earth as if it were a business in liquidation." 2. I am extremely happy to inaugurate this workshop on The Economics of Ecosystems and Biodiversity (TEEB) organis
ਅਪ੍ਰੈ 06, 2010
V K Sharma: Launch of the Financial Literacy Project in Karnataka
1. On this momentous occasion of the launching of the project on Financial Literacy in Karnataka, it is my honour and privilege to extend a very warm and hearty welcome to Respected Dr Subbarao, Governor, Reserve Bank of India. I also extend a hearty welcome to Shri S. V. Ranganath, Chief Secretary, Govt. of Karnataka, Smt. Shyamala Gopinath, Smt. Usha Thorat, Dr. K. C. Chakrabarty and Dr. Subir Gokarn, Deputy Governors, RBI, Principal Secretaries of the Govt. of Karn
Shri V.K. Sharma, Executive Director, Reserve Bank of India
1. On this momentous occasion of the launching of the project on Financial Literacy in Karnataka, it is my honour and privilege to extend a very warm and hearty welcome to Respected Dr Subbarao, Governor, Reserve Bank of India. I also extend a hearty welcome to Shri S. V. Ranganath, Chief Secretary, Govt. of Karnataka, Smt. Shyamala Gopinath, Smt. Usha Thorat, Dr. K. C. Chakrabarty and Dr. Subir Gokarn, Deputy Governors, RBI, Principal Secretaries of the Govt. of Karn
ਅਪ੍ਰੈ 02, 2010
Silver Jubilee function of Institute of Banking Personnel Selection (IBPS)
Shri M. Balachandran, Director, IBPS, Shri Alok K. Mishra, CMD, Bank of India, Shri D. P. Sharda and Shri R. K. Chaudhury, ex-Directors , IBPS, Executive Directors of banks, distinguished guests, ladies and gentlemen; I am indeed very happy to be in your midst today for the Silver Jubilee function of IBPS. April 1 has special significance for both RBI and IBPS. It is the day RBI was established 75 years ago and it is also the foundation day for IBPS. Yesterday, we cel
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri M. Balachandran, Director, IBPS, Shri Alok K. Mishra, CMD, Bank of India, Shri D. P. Sharda and Shri R. K. Chaudhury, ex-Directors , IBPS, Executive Directors of banks, distinguished guests, ladies and gentlemen; I am indeed very happy to be in your midst today for the Silver Jubilee function of IBPS. April 1 has special significance for both RBI and IBPS. It is the day RBI was established 75 years ago and it is also the foundation day for IBPS. Yesterday, we cel
ਅਪ੍ਰੈ 01, 2010
Platinum Jubilee Celebrations of the Reserve Bank of India
Hon’ble Prime Minister Governor, Maharashtra Chief Minister, Maharashtra Governor, Reserve Bank of India Officials of Reserve Bank of India Distinguished guests Ladies and Gentlemen I am happy to be present here today and join in celebrating the 75th anniversary of one of India’s most renowned and respectable institutions. The Reserve Bank of India today enjoys an enviable position and is well respected in the comity of Central Banks across the globe. The credit for t
Shri Pranab Mukherjee, Hon’ble Finance Minister
Hon’ble Prime Minister Governor, Maharashtra Chief Minister, Maharashtra Governor, Reserve Bank of India Officials of Reserve Bank of India Distinguished guests Ladies and Gentlemen I am happy to be present here today and join in celebrating the 75th anniversary of one of India’s most renowned and respectable institutions. The Reserve Bank of India today enjoys an enviable position and is well respected in the comity of Central Banks across the globe. The credit for t
ਅਪ੍ਰੈ 01, 2010
People, Jobs and Productivity: The 'Simple' Dynamics of Inclusive Growth
Introduction Let me begin by thanking the Confederation of Indian Industry (CII) for inviting me to speak at its Annual Regional Meeting and National Conference on “Achieving Double-digit Growth”. The theme of the conference is, unquestionably, an issue of the utmost urgency for Indian policymakers. Although, in my current role, I am more focused on issues of macroeconomic stability and short-term growth and inflation prospects, today's theme is one on which I wrote a
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction Let me begin by thanking the Confederation of Indian Industry (CII) for inviting me to speak at its Annual Regional Meeting and National Conference on “Achieving Double-digit Growth”. The theme of the conference is, unquestionably, an issue of the utmost urgency for Indian policymakers. Although, in my current role, I am more focused on issues of macroeconomic stability and short-term growth and inflation prospects, today's theme is one on which I wrote a
ਅਪ੍ਰੈ 01, 2010
Looking Back and Looking Ahead Reserve Bank of India’s Platinum Jubilee Celebrations
We are gathered here to mark the Grand Finale of the Platinum Jubilee celebrations of the Reserve Bank of India. It is my pleasure and privilege to welcome: Hon’ble Prime Minister Dr. Manmohan Singh Hon’ble Finance Minister Shri Pranab Mukherjee His Excellency, Governor of Maharashtra, Shri K. Sankaranarayanan; and Hon’ble Chief Minister of Maharashtra, Shri Ashok Chavan 2. I also want to acknowledge the presence here on this happy occasion of Smt. Gursharan Kaur, who
Dr. D. Subbarao, Governor, Reserve Bank of India
We are gathered here to mark the Grand Finale of the Platinum Jubilee celebrations of the Reserve Bank of India. It is my pleasure and privilege to welcome: Hon’ble Prime Minister Dr. Manmohan Singh Hon’ble Finance Minister Shri Pranab Mukherjee His Excellency, Governor of Maharashtra, Shri K. Sankaranarayanan; and Hon’ble Chief Minister of Maharashtra, Shri Ashok Chavan 2. I also want to acknowledge the presence here on this happy occasion of Smt. Gursharan Kaur, who
ਅਪ੍ਰੈ 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
ਮਾਰਚ 22, 2010
Joint Function of RBI and Government of Karnataka on Financial Literacy Project in Karnataka Bangalore: March 22, 2010
Respected Chief Secretary, Government of Karnataka Shri S.V. Ranganath and friends, I am delighted to be present here at this function organized jointly by the Government of Karnataka and the Reserve Bank of India. Over the last one year we have done a number of functions across the country as part of RBIs platinum jubilee celebrations. This function this afternoon here in Bangalore is easily one of the most exhilarating functions. It was particularly heart warming to
Dr. D. Subbarao, Governor, Reserve Bank of India
Respected Chief Secretary, Government of Karnataka Shri S.V. Ranganath and friends, I am delighted to be present here at this function organized jointly by the Government of Karnataka and the Reserve Bank of India. Over the last one year we have done a number of functions across the country as part of RBIs platinum jubilee celebrations. This function this afternoon here in Bangalore is easily one of the most exhilarating functions. It was particularly heart warming to
ਮਾਰਚ 22, 2010
Some Issues in Currency Management
It is my pleasure and privilege to participate in this function for laying the foundation stone for the Bank Note Paper Mill. A special and hearty welcome to the Hon’ble Finance Minister, Shri Pranab Mukherjee, but for whose active support, the launch of this vital and prestigious project would not have been possible. 2. I want to use this opportunity to speak on this occasion to highlight the significance of paper currency, touch on the history of production of curre
Dr. D. Subbarao, Governor, Reserve Bank of India
It is my pleasure and privilege to participate in this function for laying the foundation stone for the Bank Note Paper Mill. A special and hearty welcome to the Hon’ble Finance Minister, Shri Pranab Mukherjee, but for whose active support, the launch of this vital and prestigious project would not have been possible. 2. I want to use this opportunity to speak on this occasion to highlight the significance of paper currency, touch on the history of production of curre

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