Speeches - Monetary Policy - RBI - Reserve Bank of India
Speeches
Feb 24, 2010
Welcome Remarks by Dr. D. Subbarao, Governor, Reserve Bank of India at the L. K. Jha Memorial Lecture
On behalf of the Reserve Bank of India, I have great pleasure in welcoming Prof. John Brian Taylor who will shortly be delivering the L. K. Jha Memorial Lecture. We are very happy to welcome also Ms. Raye Allyn Taylor who has accompanied Prof. Taylor. I also want to acknowledge the family members of late Dr. L.K. Jha - Smt. Dipika Maharaj Singh, Smt. and Shri. Aditya Maharaj Singh, Trisha Maharaj Singh. Many thanks to all of you for rejoining the RBI family. And of co
Dr. D. Subbarao, Governor, Reserve Bank of India
On behalf of the Reserve Bank of India, I have great pleasure in welcoming Prof. John Brian Taylor who will shortly be delivering the L. K. Jha Memorial Lecture. We are very happy to welcome also Ms. Raye Allyn Taylor who has accompanied Prof. Taylor. I also want to acknowledge the family members of late Dr. L.K. Jha - Smt. Dipika Maharaj Singh, Smt. and Shri. Aditya Maharaj Singh, Trisha Maharaj Singh. Many thanks to all of you for rejoining the RBI family. And of co
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Feb 24, 2010
Lessons from the Financial Crisis for Monetary Policy in Emerging Markets
I am honored to give this lecture in memory of L.K. Jha. It is a particular privilege to deliver it at this Platinum Jubilee celebration of the Reserve Bank of India. L. K. Jha was a truly outstanding economist and public servant, with experience at all levels of government. He rose up through the Indian Civil Service to become the Principal Secretary to the Prime Minister, after which he became Governor of the Reserve Bank of India, and then Ambassador to the United
Prof. John Brian Taylor, Guest Speaker
I am honored to give this lecture in memory of L.K. Jha. It is a particular privilege to deliver it at this Platinum Jubilee celebration of the Reserve Bank of India. L. K. Jha was a truly outstanding economist and public servant, with experience at all levels of government. He rose up through the Indian Civil Service to become the Principal Secretary to the Prime Minister, after which he became Governor of the Reserve Bank of India, and then Ambassador to the United
Feb 15, 2010
“After the Crises: Assessing the Costs and Benefits of Financial Liberalisation”
Mr Governor, ladies and gentlemen, it is a great honour to have been invited to give the 14th Chintaman Deshmukh memorial lecture, and a great pleasure to be with you here in Mumbai. The Reserve Bank of India has a high reputation as a centre of thoughtful analysis of the important issues of financial stability and optimal policy which concern policy makers throughout the world, and a high reputation for having helped steer India through the recent financial turmoil.
Lord Adair Turner, Chairman, Financial Services Authority, United Kingdom
Mr Governor, ladies and gentlemen, it is a great honour to have been invited to give the 14th Chintaman Deshmukh memorial lecture, and a great pleasure to be with you here in Mumbai. The Reserve Bank of India has a high reputation as a centre of thoughtful analysis of the important issues of financial stability and optimal policy which concern policy makers throughout the world, and a high reputation for having helped steer India through the recent financial turmoil.
Feb 12, 2010
Challenges for Central Banks in the Context of the Crisis
Central banks and central bankers have been at the heart of the global financial crisis. We have been blamed for policies and actions that got the world into the crisis; we are also being praised for leading from the front in getting the world out of the crisis. I believe this is fair critique - central banks have been a part of the problem and a part of the solution. 2. As we emerge out of the crisis, central banks have their task cut out for them: to distil the less
Dr. D. Subbarao, Governor, Reserve Bank of India
Central banks and central bankers have been at the heart of the global financial crisis. We have been blamed for policies and actions that got the world into the crisis; we are also being praised for leading from the front in getting the world out of the crisis. I believe this is fair critique - central banks have been a part of the problem and a part of the solution. 2. As we emerge out of the crisis, central banks have their task cut out for them: to distil the less
Feb 12, 2010
Challenges to Central Banking in the Context of Financial Crisis
1. Professor Michael Spence, Governor Dr. Subbarao, Deputy Governors, distinguished invitees and friends. On behalf of the Reserve Bank of India, I extend a hearty welcome to you all to our First International Research Conference in this great city of Mumbai. 2. Mumbai, a fishing hamlet was gifted in dowry by Portugal to England, and later leased to the East India Company for £10. Today you can’t get even a square inch of land in Mumbai for that price. Mumbai has move
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
1. Professor Michael Spence, Governor Dr. Subbarao, Deputy Governors, distinguished invitees and friends. On behalf of the Reserve Bank of India, I extend a hearty welcome to you all to our First International Research Conference in this great city of Mumbai. 2. Mumbai, a fishing hamlet was gifted in dowry by Portugal to England, and later leased to the East India Company for £10. Today you can’t get even a square inch of land in Mumbai for that price. Mumbai has move
Feb 09, 2010
The Global Financial Crisis: Genesis, Impact and Lessons
Respected Dr. Reddy, Prof. T.N.Srinivasan, Prof. S. D. Tendulkar, Prof. T. Krishnakumar, distinguished invitees and friends. I thank the C.R.Rao Advanced Institute of Mathematics, Statistics and Computer Sciences and the University of Hyderabad for giving this opportunity to share my thoughts on the global financial crisis. I am humbled speaking on this subject in the presence of Dr. Reddy, the distinguished former Governor of the Reserve Bank of India, who is widely
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
Respected Dr. Reddy, Prof. T.N.Srinivasan, Prof. S. D. Tendulkar, Prof. T. Krishnakumar, distinguished invitees and friends. I thank the C.R.Rao Advanced Institute of Mathematics, Statistics and Computer Sciences and the University of Hyderabad for giving this opportunity to share my thoughts on the global financial crisis. I am humbled speaking on this subject in the presence of Dr. Reddy, the distinguished former Governor of the Reserve Bank of India, who is widely
Jan 14, 2010
Measures of Inflation in India: Issues and Perspectives
“I have said many, many times that inflation is a sinister beast.” - Richard Fisher I thank the Indian Association for Research in National Income and Wealth (IARNIW) for giving me this opportunity to speak on the important issue of inflation measurement in India which is a key theme of this year's Conference. The discussion is also timely as we would be moving into a new series of wholesale price index (WPI) with a more representative commodity basket and the proposa
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
“I have said many, many times that inflation is a sinister beast.” - Richard Fisher I thank the Indian Association for Research in National Income and Wealth (IARNIW) for giving me this opportunity to speak on the important issue of inflation measurement in India which is a key theme of this year's Conference. The discussion is also timely as we would be moving into a new series of wholesale price index (WPI) with a more representative commodity basket and the proposa
Jan 04, 2010
Financial Markets – Some Regulatory Issues and Recent Developments
1. It is my pleasure to be here today again, at the FIMMDA-PDAI annual conference as we enter into a new decade. The last decade in the Indian financial sector has been a forward continuum marked by significant developments. It was in 1999 that guidelines for interest rate swaps and forward rate agreements were first introduced. 1999 was also the year when FEMA was enacted and since then it has been a process of measured opening up of the capital account. That was als
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
1. It is my pleasure to be here today again, at the FIMMDA-PDAI annual conference as we enter into a new decade. The last decade in the Indian financial sector has been a forward continuum marked by significant developments. It was in 1999 that guidelines for interest rate swaps and forward rate agreements were first introduced. 1999 was also the year when FEMA was enacted and since then it has been a process of measured opening up of the capital account. That was als
Nov 12, 2009
Global Financial Crisis and Monetary Policy Response in India
I thank ICRIER and InWEnt for giving me this opportunity to speak to you this morning. In my talk, I will try to address the following set of questions: How and why was India impacted by the global financial crisis? How did monetary policy respond to the crisis? What was the impact of the policy on the Reserve Bank’s balance sheet? How did monetary transmission work? I will conclude by highlighting the challenges of exit from monetary easing. The subprime crisis that
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank ICRIER and InWEnt for giving me this opportunity to speak to you this morning. In my talk, I will try to address the following set of questions: How and why was India impacted by the global financial crisis? How did monetary policy respond to the crisis? What was the impact of the policy on the Reserve Bank’s balance sheet? How did monetary transmission work? I will conclude by highlighting the challenges of exit from monetary easing. The subprime crisis that
Oct 16, 2009
Learning from Crises
Ladies and Gentlemen, The late John Kenneth Galbraith, Harvard Economics Professor Emeritus, attributed the longevity of his book The Great Crash 1929 – published in 1955 and never since out of print – to the tendency of history to threaten a repeat. "Each time it has been about to pass from bookstores," he wrote in a later foreword, "another speculative episode – another bubble or the ensuing misfortune – has stirred interest in the history of this, the great modern
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen, The late John Kenneth Galbraith, Harvard Economics Professor Emeritus, attributed the longevity of his book The Great Crash 1929 – published in 1955 and never since out of print – to the tendency of history to threaten a repeat. "Each time it has been about to pass from bookstores," he wrote in a later foreword, "another speculative episode – another bubble or the ensuing misfortune – has stirred interest in the history of this, the great modern
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