Speeches & Media Interactions

Distinguished guests and my colleagues, Namaste and a very good morning! 2. It gives me immense pleasure to address this august gathering of distinguished central bankers from diverse regions, expert speakers associated with renowned international institutions and my fellow colleagues from Reserve Bank of India (RBI) at this first International Conference on Central Bank Accounting Practices organised by RBI jointly with the SEACEN Centre. I am glad that the topic of Accounting in Central Banks has attracted interest amongst central bankers across the globe and more than 20 countries are participating in this event.

Chair of the event, Shri M Damodaran; Chairman, IRDAI, Shri Ajay Seth; Chairman, PFRDA, Shri S Ramann; WTM, SEBI, Shri Kamlesh Varshney and other distinguished guests, colleagues, ladies, and gentlemen. A very good morning to all of you. 2. I am pleased to be here today for the 10th edition of the Gatekeepers of Governance Summit, as conferences like these provide an invaluable platform for the stakeholders to articulate and understand each other’s perspectives. I thank the organisers for this opportunity.

Shri Setty, Chairman, SBI, Shri Amara, MD, SBI, distinguished leaders and members of the financial fraternity. It gives me immense pleasure to be a part of what feels like, and perhaps is, the nerve centre of the Indian financial system.

I am delighted to be here amongst all of you in the SBI Banking and Economics Conclave. I sincerely thank Chairperson, SBI for providing me this opportunity to address the leaders of the banking and finance in the country. This Conclave is happening at a time when we are navigating a world of continued uncertainty, geopolitical realignment, and rapid technological change. This brings not only a host of challenges but also many opportunities.

It is a pleasure for me to be here at the Business Standard BFSI Insight Summit. I would like to thank the organisers for this opportunity. 2. In my brief comments, I will be reflecting on the observed economic and financial resilience of emerging markets (EMs) in general, and of the Indian economy, in particular. In this context, it may be noted that at the recently concluded Annual Meetings of the IMF, two contradictory themes prevailed: the unprecedented global policy uncertainty; and the surprising resilience of the economies

Shri C S Setty, Chairman, State Bank of India, Mr Peter Simon, CEO and distinguished delegates of the WSBI, Shri Vinay Tonse, Managing Director, SBI and WSBI Asia Regional President, Friends, colleagues, ladies and gentlemen, good evening, everyone! 2. At the outset, congratulations to WSBI for completion of a century, in bringing together savings and retail banks, from over 70 countries, representing the interests of customers of approximately 6,400 banks across all continents. 

Opening and Context Setting Good afternoon, distinguished policymakers, members of academia, industry leaders and innovators. It is both a pleasure and a responsibility to address this gathering on a subject that is poised to shape the future of finance, society, and governance alike—Responsible Artificial Intelligence. AI has rapidly evolved from an academic discussion less than a decade back to become an integral part of our daily lives. We encounter it when we unlock our phones, interact with chatbots, and increasingly, when accessing financial services. In just a few years, AI has evolved from an enabling technology to a foundational driver of how individuals and businesses make decisions.

1. Chairman of the Board of Governors, Director of the Institute, Prof and Padma Shree Manindra Agrawal, winner of numerous awards, who was my senior here and who I hold in very high esteem, faculty members, staff, proud parents, family and friends of the graduating students, distinguished guests, and my dear graduating students, alumni, ladies and gentlemen.

Distinguished guests, participants, ladies and gentlemen, Good evening. At the outset, let me thank the organisers for inviting me to share some of my thoughts on the theme of financial inclusion. Before that, let me take a moment to acknowledge that today i.e., June 05, 2025, is the World Environment Day, an UN-recognized day that brings together people across the globe in a shared mission to safeguard and restore our planet. This year’s theme of ending plastic pollution is a call to all of us to make a behavioural shift in our daily life choices. In the spirit of preserving the purity of our environment and safeguarding our well-being, let us commit toward making more sustainable choices.

I am delighted to be present here today for this second Conference of Directors of the Private Sector Banks. As many of you would be aware, we had organised the first such Conference last year in the month of May on the theme – “Governance in Banks: Driving Sustainable Growth and Stability”. That interaction of the Reserve Bank with the Boards of Directors was very well-received with a strong feedback that such conferences be held on a periodic basis.