Speeches - Monetary Policy - RBI - Reserve Bank of India
Speeches
Oct 27, 2010
Frontier Issues on the Global Agenda Need for Global Cooperation
First of all, my thanks to the organizers of this conference - ICRIER, the German Development Institute (DIE) and InWent - for inviting me to inaugurate this conference on: “Policies for Growth and Financial Stability Beyond the Crisis - the Scope for Global Cooperation”. Having just returned from a meeting of G-20 Finance Ministers and Central Bank Governors in Korea over this weekend, I am deeply sensitive to the value of generating a wider debate on issues that the
Dr. D. Subbarao, Governor, Reserve Bank of India
First of all, my thanks to the organizers of this conference - ICRIER, the German Development Institute (DIE) and InWent - for inviting me to inaugurate this conference on: “Policies for Growth and Financial Stability Beyond the Crisis - the Scope for Global Cooperation”. Having just returned from a meeting of G-20 Finance Ministers and Central Bank Governors in Korea over this weekend, I am deeply sensitive to the value of generating a wider debate on issues that the
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Oct 26, 2010
The Price of Protein
Introduction It is a great pleasure for me to be speaking at this seminar to celebrate the 75th birthday of Prof. Kirit Parikh. During the time that I spent at IGIDR under his leadership, I had the opportunity to work on a number of issues, on all of which I received enormous support and encouragement from him, which has continued even after first I and then he moved on to other institutions. My years at IGIDR provided me firm foundations in individual and collective
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction It is a great pleasure for me to be speaking at this seminar to celebrate the 75th birthday of Prof. Kirit Parikh. During the time that I spent at IGIDR under his leadership, I had the opportunity to work on a number of issues, on all of which I received enormous support and encouragement from him, which has continued even after first I and then he moved on to other institutions. My years at IGIDR provided me firm foundations in individual and collective
Oct 05, 2010
Managing the Growth-Inflation Balance in India : Current Considerations and Long-term Perspectives
Introduction I would like to thank the Private Equity International India Forum for inviting me to deliver this Keynote Address. I believe that channels of finance like venture capital will play an increasingly significant role in India. Sustaining the current growth momentum over a long period of time will clearly depend heavily on the ability of new business ideas to first, find start-up funding and then, grow to scales at which traditional funding sources can be ac
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Introduction I would like to thank the Private Equity International India Forum for inviting me to deliver this Keynote Address. I believe that channels of finance like venture capital will play an increasingly significant role in India. Sustaining the current growth momentum over a long period of time will clearly depend heavily on the ability of new business ideas to first, find start-up funding and then, grow to scales at which traditional funding sources can be ac
Oct 01, 2010
Perspectives on Inflation in India
I thank the Bankers Club, Chennai and Shri T.M.Bhasin, Chairman & Managing Director, Indian Bank for providing me this opportunity to speak before you. As you know, the Reserve Bank released its first Mid-Quarter Review of Monetary Policy for 2010-11 on September 16, 2010 raising policy interest rates for the fifth time since March 2010. The Reserve Bank is concerned over the unacceptably high inflation rate. In the meanwhile, the Government has also released the
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank the Bankers Club, Chennai and Shri T.M.Bhasin, Chairman & Managing Director, Indian Bank for providing me this opportunity to speak before you. As you know, the Reserve Bank released its first Mid-Quarter Review of Monetary Policy for 2010-11 on September 16, 2010 raising policy interest rates for the fifth time since March 2010. The Reserve Bank is concerned over the unacceptably high inflation rate. In the meanwhile, the Government has also released the
Aug 27, 2010
Economic Crisis and Crisis in Economics Some Reflections
M. Ct. M. Chidambaram Thank you for this kind invitation. It is a pleasure and privilege to deliver the M. Ct. M. Chidambaram Chettyar Memorial Lecture honouring one of the most eminent entrepreneurs and financiers of the early twentieth century. 2. The Chettyar community of Tamil Nadu has made impressive contributions to our national life. The stereotype view is that the Chettyar community is conservative. But Shri M. Ct. M. Chidambaram broke that stereotype. His is
Dr. D. Subbarao, Governor, Reserve Bank of India
M. Ct. M. Chidambaram Thank you for this kind invitation. It is a pleasure and privilege to deliver the M. Ct. M. Chidambaram Chettyar Memorial Lecture honouring one of the most eminent entrepreneurs and financiers of the early twentieth century. 2. The Chettyar community of Tamil Nadu has made impressive contributions to our national life. The stereotype view is that the Chettyar community is conservative. But Shri M. Ct. M. Chidambaram broke that stereotype. His is
Aug 12, 2010
Managing Inflation in the Post-Crisis Environment
The Indian economy weathered the global crisis of 2008-09 quite well. Even as much of the developed world is still quite some distance from its pre-crisis growth rate, several emerging market economies (EMEs) have made up the lost ground relatively quickly. As indicated in Chart 1, India saw its growth rate decline from 9.2 per cent in 2007-08 to a trough of 6.7 per cent in 2008-09. There was a modest recovery in 2009-10 to 7.4 per cent, with the second half of the ye
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
The Indian economy weathered the global crisis of 2008-09 quite well. Even as much of the developed world is still quite some distance from its pre-crisis growth rate, several emerging market economies (EMEs) have made up the lost ground relatively quickly. As indicated in Chart 1, India saw its growth rate decline from 9.2 per cent in 2007-08 to a trough of 6.7 per cent in 2008-09. There was a modest recovery in 2009-10 to 7.4 per cent, with the second half of the ye
Jul 28, 2010
Over-the-counter derivative markets in India issues and perspectives - Article by Smt Shyamala Gopinath, Deputy Governor, RBI, Published in July 2010 Issue of Financial Stability Review, Banque de France.
The present article tries to put in perspective the boundary conditions, imposed by the macroeconomic constraints, which have guided the evolution of over-the-counter (OTC) markets in India and underlines the point that the process of transiting from a predominantly OTC based model to an exchange-traded model needs to follow a calibrated path. Through this transition period, the overall regulatory approach towards OTC derivative markets is as important as addressing t
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
The present article tries to put in perspective the boundary conditions, imposed by the macroeconomic constraints, which have guided the evolution of over-the-counter (OTC) markets in India and underlines the point that the process of transiting from a predominantly OTC based model to an exchange-traded model needs to follow a calibrated path. Through this transition period, the overall regulatory approach towards OTC derivative markets is as important as addressing t
Jun 14, 2010
Perspectives on Lending Rates in India
Shri Dua, Shri Sen and friends. I thank the Bankers’ Club, Kolkata and Shri J.P. Dua, Chairman, Allahabad Bank for providing me the opportunity to speak to you this evening. As you know, banks will be switching over to a ‘base rate’ system of loan pricing from 1st July 2010. Besides the announcement of base rate, what is of greater significance is that it brings to fruition complete deregulation of rupee lending rates of banks, a process that began two decades ago. Th
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
Shri Dua, Shri Sen and friends. I thank the Bankers’ Club, Kolkata and Shri J.P. Dua, Chairman, Allahabad Bank for providing me the opportunity to speak to you this evening. As you know, banks will be switching over to a ‘base rate’ system of loan pricing from 1st July 2010. Besides the announcement of base rate, what is of greater significance is that it brings to fruition complete deregulation of rupee lending rates of banks, a process that began two decades ago. Th
Apr 27, 2010
India and the Global Financial Crisis Transcending from Recovery to Growth
India clocked average growth of 9 per cent per annum in the five years to 2007/08. That growth momentum was interrupted by the financial crisis which impacted India too, more than we had originally thought but less than it did most other countries. Despite falling below 6 per cent for one quarter, the growth for the full year 2008/09 was a resilient 6.7 per cent. Current estimates are that the economy had grown between 7.2 and 7.5 per cent for the just ended fiscal ye
Dr. D. Subbarao, Governor, Reserve Bank of India
India clocked average growth of 9 per cent per annum in the five years to 2007/08. That growth momentum was interrupted by the financial crisis which impacted India too, more than we had originally thought but less than it did most other countries. Despite falling below 6 per cent for one quarter, the growth for the full year 2008/09 was a resilient 6.7 per cent. Current estimates are that the economy had grown between 7.2 and 7.5 per cent for the just ended fiscal ye
Apr 25, 2010
Statement by Mr. Duvvuri Subbarao, Governor, Reserve Bank of India at IMFC
Statement by Mr. Duvvuri Subbarao, Governor, Reserve Bank of India at IMFC Leader of the Indian Delegation to the International Monetary and Financial Committee Washington D.C, April 24, 2010 Mr. Chairman: Confounding our worst fears, the turn around in the global economy has been much faster than we had anticipated as recently as only a few months ago when we met in Istanbul. The global economy has experienced three quarters of positive growth following the sharp dec
Dr. D. Subbarao, Governor, Reserve Bank of India
Statement by Mr. Duvvuri Subbarao, Governor, Reserve Bank of India at IMFC Leader of the Indian Delegation to the International Monetary and Financial Committee Washington D.C, April 24, 2010 Mr. Chairman: Confounding our worst fears, the turn around in the global economy has been much faster than we had anticipated as recently as only a few months ago when we met in Istanbul. The global economy has experienced three quarters of positive growth following the sharp dec
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