Speeches & Media Interactions

Edited Excerpts: Q: Let me start with the budget itself and this big borrowing programme, the four auctions after that have practically been either partially failed or fully failed. Do you think the bond market has not got your message, do you want to give a message to the bond market? A: If you go back into my monetary policy statements, right from October onwards – October and then again in February – I have given a very clear signal and explicit guidance to the bon

Participants from RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri B.P. Kanungo – Deputy Governor, Reserve Bank of India Shri M. K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri Yogesh Dayal – Chief General Manager, Reserve Bank of India Yogesh Dayal (Moderator): Good afternoon, all of you. I welcome the Governor and Deputy

Q1. Has it been an RBI throne or a crown with thorns? How has the two years been as RBI Governor? A: The position has been one of great responsibility. There have been two types of situations. It has been a great opportunity to work towards the betterment of the economy of this country. However, there have been challenges and difficulties. Q2. You have been successful in coming out of the image of your predecessors who were perceived to be reclusive. You have a very c

It has been two years since you became the governor. How do you describe the challenges in this role compared to your previous role as a bureaucrat? There have been several challenges and it is difficult to segregate one from the other. The pandemic is the biggest health crisis in a century leading to an economic one. The event by itself is once in 100 years. The level of direct accountability with the governor is very high. In RBI, the buck stops with the governor. W

Participants from RBI: Shri Shaktikanta Das – Governor, Reserve Bank of India Shri B.P. Kanungo – Deputy Governor, Reserve Bank of India Shri M. K. Jain – Deputy Governor, Reserve Bank of India Dr. Michael D. Patra – Deputy Governor, Reserve Bank of India Shri M. Rajeshwar Rao – Deputy Governor, Reserve Bank of India Shri Yogesh Dayal – Chief General Manager, Reserve Bank of India Yogesh Dayal (Moderator): It is really a great pleasure to have all of you here in this

In his first media interaction since the nationwide lockdown took effect to contain the spread of COVID-19, Reserve Bank of India Governor Shaktikanta Das told Cogencis that the central bank is yet to take a view on budget deficit monetisation or private placement of bonds. Below is the full transcript of the Governor's interview to Cogencis: (Note – Some elements of the transcript may be used with an attribution to Cogencis) Q. RBI has emerged as the first line of de

Interviewers: T. Bijoy Idicheriah and Kalyan Ram from Cogencis. RBI has emerged as the first line of defence against the impact of COVID-19, and some may say, the only line of defence. Do you think more fiscal measures are needed for the relief package to be effective? Also, what is your advice to the government? Should they suspend FRBM or monetise deficit? Fiscal measures are important and the government is working on a package of measures. The finance minister has

Sir I will start with the big picture question. You are back in the day before the RBI became a flexible inflation targeting central bank. Governors would often lay down their priorities in the annual statement which would give us a sense of the current context. Let me go back to that practice and ask you what your current priorities at the institution are given the economic situation: See for the central bank, especially a central bank like the RBI and its multifario

Q1. Governor thus, thank you very much for talking with us. Of course the issue of the day is coronavirus and many discussions around what policymakers might be able to do. Do you agree that there's a case for coordinated central bank action in response? A. That is definitely in a strong reason for coordinated policy action because coronavirus has now turned out to be a global problem so when the problem is a global naturally the need for coordination at coordinated a

It’s been more than a year now for you as RBI Governor, coming after exits of two governors and one deputy governor. How has the year been in terms of RBI-government relationship? For the central bank, it’s never a dull moment, especially in today’s world, and I’m saying so not just in the context of RBI, but for all central banks. Economies across the world are changing so fast, with new technologies, new business models, new challenges. So, the central bank will alw