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مارچ 26, 2009
India - Managing the Impact of the Global Financial Crisis
Introduction 1. Less than a year ago, much of what has happened in the Indian economy since last October would have been hard to anticipate. I recall, around this time last year, the most frequently asked questions (FAQs) were, what are the factors that put India on a high growth trajectory and what can we do to remain there? Today, the FAQ is, when and how do we get back on to the high growth trajectory? The sharp turn around in the FAQs summarizes in a nutshell the
Dr. D. Subbarao, Governor, Reserve Bank of India
Introduction 1. Less than a year ago, much of what has happened in the Indian economy since last October would have been hard to anticipate. I recall, around this time last year, the most frequently asked questions (FAQs) were, what are the factors that put India on a high growth trajectory and what can we do to remain there? Today, the FAQ is, when and how do we get back on to the high growth trajectory? The sharp turn around in the FAQs summarizes in a nutshell the
فروری 18, 2009
Impact of the Global Financial Crisis on India Collateral Damage and Response
Global outlook 1. The global economic outlook deteriorated sharply over the last quarter. In a sign of the ferocity of the down turn, the IMF made a marked downward revision of its estimate for global growth in 2009 in purchasing power parity terms – from its forecast of 3.0 per cent made in October 2008 to 0.5 per cent in January 2009. In market exchange rate terms, the downturn is sharper – global GDP is projected to actually shrink by 0.6 per cent. With all the adv
Dr. D. Subbarao, Governor, Reserve Bank of India
Global outlook 1. The global economic outlook deteriorated sharply over the last quarter. In a sign of the ferocity of the down turn, the IMF made a marked downward revision of its estimate for global growth in 2009 in purchasing power parity terms – from its forecast of 3.0 per cent made in October 2008 to 0.5 per cent in January 2009. In market exchange rate terms, the downturn is sharper – global GDP is projected to actually shrink by 0.6 per cent. With all the adv
دسمبر 18, 2008
The Global Financial Turmoil and Challenges for the Indian Economy
It is my pleasure to be here this evening and to be able to share my thoughts with an exclusive gathering of bankers. Since this is an in-house meeting and we are professional colleagues, I propose to be frank and forthright. I am glad to know that the Bankers' Club in Kolkata has been recently revived and is engaged in promoting professional interaction within the banking community. 2. The global financial crisis is now the staple of front page news. Banks around the
Dr. D. Subbarao, Governor, Reserve Bank of India
It is my pleasure to be here this evening and to be able to share my thoughts with an exclusive gathering of bankers. Since this is an in-house meeting and we are professional colleagues, I propose to be frank and forthright. I am glad to know that the Bankers' Club in Kolkata has been recently revived and is engaged in promoting professional interaction within the banking community. 2. The global financial crisis is now the staple of front page news. Banks around the
جون 05, 2008
Agriculture: Emerging Issues and Possible Approaches
His Excellency, the Governor of Andhra Pradesh and the Chancellor of Acharya N.G. Ranga Agricultural University (ANGRAU), Shri Narayan Datt Tiwari garu; Vice Chancellor, ANGRAU, Dr. P. Raghava Reddy garu; Members of the Board of Management of ANGRAU; Registrar of ANGRAU; Horticultural University Vice Chancellor, Dr. S.D. Sikhamani garu; Members of the Academic Council of Agriculture and Home Science Faculties; dear students and staff of this university, respected pare
Dr. Y. V. Reddy, Governor, Reserve Bank of India
His Excellency, the Governor of Andhra Pradesh and the Chancellor of Acharya N.G. Ranga Agricultural University (ANGRAU), Shri Narayan Datt Tiwari garu; Vice Chancellor, ANGRAU, Dr. P. Raghava Reddy garu; Members of the Board of Management of ANGRAU; Registrar of ANGRAU; Horticultural University Vice Chancellor, Dr. S.D. Sikhamani garu; Members of the Academic Council of Agriculture and Home Science Faculties; dear students and staff of this university, respected pare
مئی 20, 2008
Indian Economy: Prospects for Growth with Stability
Mr. Gopinath Pillai, Chairman, Institute of South Asian Studies (ISAS); Mr. Heng Swee Keat, Managing Director, Monetary Authority of Singapore (MAS); Dr. Jaishankar, Honorable High Commissioner; and distinguished friends. I deeply appreciate the invitation from the ISAS to address this august gathering of policy makers, eminent academics, and market participants of Singapore. Singapore is an important financial center of the world and a very special partner for India,
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Mr. Gopinath Pillai, Chairman, Institute of South Asian Studies (ISAS); Mr. Heng Swee Keat, Managing Director, Monetary Authority of Singapore (MAS); Dr. Jaishankar, Honorable High Commissioner; and distinguished friends. I deeply appreciate the invitation from the ISAS to address this august gathering of policy makers, eminent academics, and market participants of Singapore. Singapore is an important financial center of the world and a very special partner for India,
اپریل 10, 2008
Banks' Relationship with Customers - Evolving Perspectives
I feel it a privilege to be associated with today's function as a tribute to the late Mr. M.R.Pai, the doyen of consumer activism in India. He successfully championed the cause of consumers, particularly bank depositors, during a different economic setting when the institutional dynamics were different, particularly for the public sector, and customer as a generic entity had not acquired the high pedestal in public discourses and management meetings. Times have change
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
I feel it a privilege to be associated with today's function as a tribute to the late Mr. M.R.Pai, the doyen of consumer activism in India. He successfully championed the cause of consumers, particularly bank depositors, during a different economic setting when the institutional dynamics were different, particularly for the public sector, and customer as a generic entity had not acquired the high pedestal in public discourses and management meetings. Times have change
نومبر 02, 2007
Evolving role of the Reserve Bank of India: Recent Developments
Respected Professor Vyas, distinguished participants, ladies and gentlemen, I am indeed thankful to the Institute of Development Studies and Professor Vyas for providing me this opportunity to share my thoughts with you today on the “Evolving role of the Reserve Bank of India: Recent Developments”. My association with Professor Vyas has been long, but it became closer since November 2000, when he was appointed as a director on the Central Board of the Reserve Bank of
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Respected Professor Vyas, distinguished participants, ladies and gentlemen, I am indeed thankful to the Institute of Development Studies and Professor Vyas for providing me this opportunity to share my thoughts with you today on the “Evolving role of the Reserve Bank of India: Recent Developments”. My association with Professor Vyas has been long, but it became closer since November 2000, when he was appointed as a director on the Central Board of the Reserve Bank of
جون 20, 2007
Risk Management in an Open Market Economy
Peter L. Bernstein in his celebrated book Against the Gods writes, 'The revolutionary idea that defines the boundary between modern times and the past is the mastery of risk: the notion that the future is more than a whim of the Gods and that men and women are not passive before nature. Until human beings discovered a way across that boundary, the future was a mirror of the past or the murky domain of oracles and soothsayers who held monopoly over knowledge of anticip
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Peter L. Bernstein in his celebrated book Against the Gods writes, 'The revolutionary idea that defines the boundary between modern times and the past is the mastery of risk: the notion that the future is more than a whim of the Gods and that men and women are not passive before nature. Until human beings discovered a way across that boundary, the future was a mirror of the past or the murky domain of oracles and soothsayers who held monopoly over knowledge of anticip
نومبر 03, 2006
Economic Growth, Financial Deepening and Financial Inclusion
I. Introduction I would like to thank the Indian Banks Association and the Andhra Bank for inviting me to this Conference, which has become an annual feature of the calendar for bankers and financial sector professionals. In view of the theme of the conference, viz., 'Inclusive Growth – A New Challenge', I thought it would be appropriate to place financial inclusion within the broad context of economic growth. There is yet another motivation for choosing the theme. Wh
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I. Introduction I would like to thank the Indian Banks Association and the Andhra Bank for inviting me to this Conference, which has become an annual feature of the calendar for bankers and financial sector professionals. In view of the theme of the conference, viz., 'Inclusive Growth – A New Challenge', I thought it would be appropriate to place financial inclusion within the broad context of economic growth. There is yet another motivation for choosing the theme. Wh
ستمبر 29, 2006
Globalisation, Money and Finance – Uncertainties and Dilemmas*
Globalisation, Money and Finance – Uncertainties and Dilemmas* Dear friends, I am honoured to be invited to deliver the valedictory address at the 2006 FICCI-IBA Conference. I would like to begin by complimenting the hosts for their choice of the theme: "Global Banking: Paradigm Shift". Many distinguished speakers have participated already in the deliberations and hence I will attempt a broader overview of globalisation issues at the current juncture. My address is on
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Globalisation, Money and Finance – Uncertainties and Dilemmas* Dear friends, I am honoured to be invited to deliver the valedictory address at the 2006 FICCI-IBA Conference. I would like to begin by complimenting the hosts for their choice of the theme: "Global Banking: Paradigm Shift". Many distinguished speakers have participated already in the deliberations and hence I will attempt a broader overview of globalisation issues at the current juncture. My address is on

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