Speeches - RBI - Reserve Bank of India
Speeches
Oct 10, 2008
Global Financial Crisis and Key Risks: Impact on India and Asia (Updated on October 27, 2008)
The turmoil in the international financial markets of advanced economies, that started around mid-2007, has exacerbated substantially since August 2008. The financial market crisis has led to the collapse of major financial institutions and is now beginning to impact the real economy in the advanced economies. As this crisis is unfolding, credit markets appear to be drying up in the developed world. With the substantive increase in financial globalisation, how much wi
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
The turmoil in the international financial markets of advanced economies, that started around mid-2007, has exacerbated substantially since August 2008. The financial market crisis has led to the collapse of major financial institutions and is now beginning to impact the real economy in the advanced economies. As this crisis is unfolding, credit markets appear to be drying up in the developed world. With the substantive increase in financial globalisation, how much wi
Aug 04, 2008
The Indian Banking Industry – A Retrospect of Select Aspects
Dear Friends, It is my pleasure to be here on the occasion of the birth centenary celebrations of late Shri M. Ct. M. Chidambaram Chettyar. I am thankful to the organisers for affording me this opportunity to share some of my thoughts with this august audience. As you all know, Shri Chettyar was the visionary founder of the Indian Overseas Bank. He established the bank in the pre-independence era in the February 1937, when the banking industry in the country was indee
Shri V. Leeladhar, Deputy Governor, Reserve Bank of India
Dear Friends, It is my pleasure to be here on the occasion of the birth centenary celebrations of late Shri M. Ct. M. Chidambaram Chettyar. I am thankful to the organisers for affording me this opportunity to share some of my thoughts with this august audience. As you all know, Shri Chettyar was the visionary founder of the Indian Overseas Bank. He established the bank in the pre-independence era in the February 1937, when the banking industry in the country was indee
Apr 17, 2008
Consolidation in the Indian Financial Sector
Dear Friends, It is my pleasure to be here with you this morning on the occasion of International Banking & Finance Conference 2008 of the Indian Merchants’ Chamber. I am grateful to the organisers for having afforded me this valuable opportunity to address this august audience and share some of my thoughts on the subject of consolidation in the Indian financial sector. The Chamber has indeed come a long way since its establishment in the pre-independence days in
Shri V. Leeladhar, Deputy Governor, Reserve Bank of India
Dear Friends, It is my pleasure to be here with you this morning on the occasion of International Banking & Finance Conference 2008 of the Indian Merchants’ Chamber. I am grateful to the organisers for having afforded me this valuable opportunity to address this august audience and share some of my thoughts on the subject of consolidation in the Indian financial sector. The Chamber has indeed come a long way since its establishment in the pre-independence days in
Mar 31, 2008
The Indian Economy and the Reserve Bank of India: Random Thoughts
Shri Johny Joseph, Shri Kale and friends,I am grateful to the organisers for bestowing on me the honour of delivering the prestigious Yeshwantrao Chavan Memorial Lecture 2007-08. I must compliment the Indian Institute of Public Administration (IIPA), Maharashtra Branch, for organising the Memorial Lecture. By accepting this invitation, I am also acknowledging a debt of gratitude to IIPA. I am a Life Member of IIPA. While doing research for Ph.D in 1960s, I extensively
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Shri Johny Joseph, Shri Kale and friends,I am grateful to the organisers for bestowing on me the honour of delivering the prestigious Yeshwantrao Chavan Memorial Lecture 2007-08. I must compliment the Indian Institute of Public Administration (IIPA), Maharashtra Branch, for organising the Memorial Lecture. By accepting this invitation, I am also acknowledging a debt of gratitude to IIPA. I am a Life Member of IIPA. While doing research for Ph.D in 1960s, I extensively
Jan 21, 2008
Development through Planning, Markets or De-centralisation
Prof. Bhole, Seminar Convenor, Prof. Juzer Vasi, Meenakshi Gupta, Prof. Ramnathan, other distinguished invitees, Prof Narayanan, participants of the seminar, ladies and gentlemen, It gives me great pleasure to inaugurate the seminar on, 'Development through Planning, Markets or De-centralisation' during the Golden Jubilee of IIT. The subject of the present seminar is extremely important at the present stage of Indian economic development. This three-day seminar I am s
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
Prof. Bhole, Seminar Convenor, Prof. Juzer Vasi, Meenakshi Gupta, Prof. Ramnathan, other distinguished invitees, Prof Narayanan, participants of the seminar, ladies and gentlemen, It gives me great pleasure to inaugurate the seminar on, 'Development through Planning, Markets or De-centralisation' during the Golden Jubilee of IIT. The subject of the present seminar is extremely important at the present stage of Indian economic development. This three-day seminar I am s
Nov 07, 2007
Developing Debt Markets in India: Review and Prospects
Governor Julio Velarde and fellow Governors, I am thankful to Governor Amando for giving me this opportunity to participate in the meeting of Central Bank Governors of Asia, Latin America and the Caribbean. I am conscious of the fact that the conditions prevalent in our economies are varied, and yet the sharing of country experiences provides us valuable insights into the effectiveness of public policy as w
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Governor Julio Velarde and fellow Governors, I am thankful to Governor Amando for giving me this opportunity to participate in the meeting of Central Bank Governors of Asia, Latin America and the Caribbean. I am conscious of the fact that the conditions prevalent in our economies are varied, and yet the sharing of country experiences provides us valuable insights into the effectiveness of public policy as w
Oct 24, 2007
Indian Derivatives Market - A Regulatory and Contextual Perspective
Let me first thank Euromoney for inviting me for this seminar on Indian derivatives market. The esoteric world of derivatives has come into sharp focus in recent times precisely on account of their complexity and recent events have triggered a debate on their impact on the financial system stability. My discussion today will be confined to the regulatory framework in India in regard to forex, debt and credit derivative markets and the regulatory imperatives arising in
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
Let me first thank Euromoney for inviting me for this seminar on Indian derivatives market. The esoteric world of derivatives has come into sharp focus in recent times precisely on account of their complexity and recent events have triggered a debate on their impact on the financial system stability. My discussion today will be confined to the regulatory framework in India in regard to forex, debt and credit derivative markets and the regulatory imperatives arising in
Sep 20, 2007
Recent Financial Market Developments And Implications For Monetary Policy
Shri Bhatt, Mr Horiguchi, Ladies and Gentlemen, I am honoured to be invited to deliver the valedictory address at the Asia Regional Economic Forum. The relationship between India and the Institute of International Finance (IIF) goes back a long way to the early 1990s. Therefore, it is only befitting that the IIF has chosen to inaugurate the Asia Regional Economic Forum in Mumbai as an opportunity for the informal exchange of
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Shri Bhatt, Mr Horiguchi, Ladies and Gentlemen, I am honoured to be invited to deliver the valedictory address at the Asia Regional Economic Forum. The relationship between India and the Institute of International Finance (IIF) goes back a long way to the early 1990s. Therefore, it is only befitting that the IIF has chosen to inaugurate the Asia Regional Economic Forum in Mumbai as an opportunity for the informal exchange of
Jun 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
May 16, 2007
Development of Financial Markets in India
I am delighted to have the opportunity of speaking on the issue of development of financial markets along with Mr. Christian Noyer, Governor of the Banque de France. He has displayed a deep commitment to the development of financial markets over the years and we heard a very thoughtful speech from him on this subject at the Reserve Bank just two days ago. His approach to financial markets is marked by a great degree of pragmatism: as we develop financial m
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I am delighted to have the opportunity of speaking on the issue of development of financial markets along with Mr. Christian Noyer, Governor of the Banque de France. He has displayed a deep commitment to the development of financial markets over the years and we heard a very thoughtful speech from him on this subject at the Reserve Bank just two days ago. His approach to financial markets is marked by a great degree of pragmatism: as we develop financial m
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