Shri Ajay Bhushan Prasad Pandey, Chairperson, National Financial Reporting Authority; Shri M R Rao, Deputy Governor Reserve Bank of India; Executive Directors from Reserve Bank of India; CA Ranjeet Agarwal, President Institute of Chartered Accountants of India; Auditors and Chief Financial Officers from the Banks and All India Financial Institutions; my colleagues from the Reserve Bank of India; Ladies and Gentlemen. Good morning.

I am delighted to be here today to convey my thoughts on the issue of statutory audit of commercial banks and AIFIs. In many ways, we, as Regulators/ Supervisors and you as Auditors, share a common goal. Auditors play a very crucial role in ensuring the health of the financial system as they assist in maintainance of regulatory oversight by ensuring that the financial statements present a true and fair picture of the affairs of the regulated entity. The statutory auditors play a significant role in maintaining stakeholder confidence in audited financial statements and this is particularly important in the case of banking industry where the entire edifice is built on ‘trust’ and the biggest external stakeholders, i.e., depositors are fragmented and unorganised. Therefore, the Reserve Bank has a strong interest in promoting sound and high quality accounting and disclosure standards for the banking and financial industry as well as in having transparent and comparable financial statements that strengthen market discipline

Mr. V G Sekhar, Principal, CAB, Convenors of SLBCs, my colleagues from RBI, ladies and gentlemen. A very good afternoon to you all.

1. I am delighted to address you all today, the conveners of all our SLBCs. I understand that you all had a very purposeful engagement over these two days, dwelling upon various strategies and approaches that we plan to adopt in achieving our goal of strengthening credit delivery for an inclusive and sustainable growth. Having been once the Convenor for the SLBC in Telangana in my earlier role as a commercial banker, I can first-hand attest to the immense personal satisfaction it gives to make a difference in people’s lives through the SLBC forum. Indeed, over the years SLBCs have emerged as important instruments of change by catalysing synergies among stakeholders. Through the efforts made under the aegis of SLBCs across 

I am deeply honoured to participate in the 79th meeting of the Executive Council (EXCO) of the International Association of Deposit Insurers (IADI). At the outset, I would like to express my profound appreciation for the IADI as a global standard-setter as well as an international forum for the cross-fertilisation of information and country experiences on practices and techniques relating to deposit insurance. The IADI is contributing significantly to building effective deposit insurance systems across the world, thereby strengthening public confidence in the banking system and ensuring financial stability.

Good Evening,

It is indeed a pleasure to be here amidst this distinguished gathering. The theme of the summit, ‘Rise of the Indian Spring’, is both contextual and inspiring, reflecting not just the rising trajectory and profile of the Indian economy, but also the sentiments prevailing within the country and across the world.

I am honoured to be invited to Nomura’s 40th Central Bankers Seminar. The discussions here assume topical relevance in the context of the tectonic shifts underway in the global economy that present new challenges for the conduct of central banking. Besides divergent growth pathways and the varying speeds and magnitudes of disinflation, regime shifts impart their own layers of uncertainty.

Mr. Yoshiki Takeuchi, Deputy Secretary General, OECD, Ms. Mairead McGuiness, European Commissioner for Financial Services, Ms. Magda Bianco, Chair of OECD INFE and G20 GPFI, Mr. Connor Graham, youth representative from Enactus, assembled regulators from across the world, ladies and gentlemen. A very warm good morning to all of you.  It gives me immense pleasure to speak to you today on a highly relevant topic - safe banking

Honourable Governors, Deputy Governors, Managing Directors, delegations from SEACEN central banks, distinguished experts, and panellists, Dr. Mangal Goswami and the SEACEN team, and my colleagues from the Reserve Bank of India.

On behalf of the Reserve Bank of India, the current Chair of the SEACEN (South East Asian Central Banks) forum, I extend a warm welcome to Governors of central banks and other delegates to this 59th SEACEN Governors’ Conference. The weather in Mumbai during this time of the year is pleasant and I hope you get some time for sightseeing. As everyone in this hall is aware, SEACEN plays a pivotal role in promoting collaboration, knowledge sharing and policy coordination among the member central banks, and thereby contributes significantly to the stability, resilience and sustainable development of the regional and the global economy.

Ladies and Gentlemen! It’s a pleasure to be here at CII NBFC Summit 2024. At the outset, let me thank Mr. Abhimanyu Munjal, Chairman, CII National Committee on Non-Banking Finance Companies (NBFCs) for extending the invitation to me for delivering this inaugural talk at the 6th edition of the NBFC summit organised by CII. I recall that it was at this forum, in earlier speech2 at CII NBFC Summit held in October 2021, I had dwelt upon the introduction of Scale Based Regulatory (SBR) approach in the NBFC Sector. Much water has flown under the bridge since then. SBR framework has since been rolled out for the NBFC sector and NBFCs have seamlessly transitioned to the revised regulations. While I had previously discussed the detailed contours of the SBR framework, today I propose to discuss the broad regulatory approaches behind NBFC regulations, including SBR framework and then focus on few specific issues pertaining to NBFC sector.