Speeches - Monetary Policy - RBI - Reserve Bank of India
Speeches
Mar 08, 2013
Is There a New Normal for Inflation?
India recovered from the global financial crisis ahead of most other countries, but inflation too caught up with us sooner than elsewhere. As measured by the wholesale price index (WPI), inflation went marginally into negative territory for a few months into the crisis in 2009 and started rising sharply thereafter, clocking a peak rate of 10.9 per cent in April 20102. Average WPI inflation was 9.6 per cent in fiscal year 2010/11, 8.9 per cent in 2011/12 and 7.5 per ce
Dr. D. Subbarao, Governor, Reserve Bank of India
India recovered from the global financial crisis ahead of most other countries, but inflation too caught up with us sooner than elsewhere. As measured by the wholesale price index (WPI), inflation went marginally into negative territory for a few months into the crisis in 2009 and started rising sharply thereafter, clocking a peak rate of 10.9 per cent in April 20102. Average WPI inflation was 9.6 per cent in fiscal year 2010/11, 8.9 per cent in 2011/12 and 7.5 per ce
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Jan 31, 2013
Indian Inflation Puzzle
Respected dignitaries on the dais: Advocate V. R. Parnerkar, Advocate Laxmikant Parnerkar, Shri Pradip Palnitkar, Shri Mohan Tanksale, Justice Mhase, Dr. S. N. Pathan and Dr. Ashutosh Raravikar; Ladies and Gentlemen. It is indeed my honour that Late Dr. Ramchandra Parnerkar Outstanding Economics Award for 2013 has been bestowed upon me. I thank the Poornawad Charitable Trust and its Life Management Institute for this recognition. It is heartening to see that over the
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
Respected dignitaries on the dais: Advocate V. R. Parnerkar, Advocate Laxmikant Parnerkar, Shri Pradip Palnitkar, Shri Mohan Tanksale, Justice Mhase, Dr. S. N. Pathan and Dr. Ashutosh Raravikar; Ladies and Gentlemen. It is indeed my honour that Late Dr. Ramchandra Parnerkar Outstanding Economics Award for 2013 has been bestowed upon me. I thank the Poornawad Charitable Trust and its Life Management Institute for this recognition. It is heartening to see that over the
Jan 03, 2013
Vote of thanks by Shri Deepak Mohanty, Executive Director, Reserve Bank of India, on the occasion of the 15th C D Deshmukh Memorial Lecture on January 3, 2013
Honourable Professor Joseph Stiglitz, Governor Dr. Subbarao, distinguished guests and colleagues from the Reserve Bank. Central banks have come under severe intellectual scrutiny ever since the global crisis, even as they have crossed all conventional barriers in responding to the crisis. Monetary policy was partly blamed for the genesis of the crisis, and it continues to be blamed for ineffectiveness in giving us a durable recovery. We need nothing short of a revolut
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
Honourable Professor Joseph Stiglitz, Governor Dr. Subbarao, distinguished guests and colleagues from the Reserve Bank. Central banks have come under severe intellectual scrutiny ever since the global crisis, even as they have crossed all conventional barriers in responding to the crisis. Monetary policy was partly blamed for the genesis of the crisis, and it continues to be blamed for ineffectiveness in giving us a durable recovery. We need nothing short of a revolut
Jan 03, 2013
Welcome Remarks by Dr. Duvvuri Subbarao, Governor, Reserve Bank of India at the 15th C. D. Deshmukh Memorial Lecture delivered by Prof. Joseph Stiglitz
On behalf of the Reserve Bank of India, I have great pleasure in welcoming Prof. Joseph E. Stiglitz, who will shortly be delivering the C.D. Deshmukh Memorial Lecture. Also, a warm welcome to Mrs. Anya Stiglitz who has accompanied him. I am delighted to acknowledge the presence here of the family members of Sir Chintaman Deshmukh - Shri Atul Deshmukh, Smt. Sheetala Deshmukh, and their children, Ashish and Priyanka, Prof. Sunita Chitnis and her son Dr. Ajay Chitnis. Yo
Dr. D. Subbarao, Governor, Reserve Bank of India
On behalf of the Reserve Bank of India, I have great pleasure in welcoming Prof. Joseph E. Stiglitz, who will shortly be delivering the C.D. Deshmukh Memorial Lecture. Also, a warm welcome to Mrs. Anya Stiglitz who has accompanied him. I am delighted to acknowledge the presence here of the family members of Sir Chintaman Deshmukh - Shri Atul Deshmukh, Smt. Sheetala Deshmukh, and their children, Ashish and Priyanka, Prof. Sunita Chitnis and her son Dr. Ajay Chitnis. Yo
Jan 03, 2013
The 15th C. D. Deshmukh Memorial Lecture on "A Revolution in Monetary Policy : Lessons in the Wake of the Global Financial Crisis" delivered by Joseph E. Stiglitz at Taj Mahal Palace, Mumbai on January 3, 2013
It is a real pleasure for me to be able to deliver this lecture in memory of the Reserve Bank of India's first Indian Governor, who set an example and a tradition which has resulted in the Reserve Bank of India being viewed as one of the exemplars of central banks around the world. As I shall comment later, one could not help but notice this in the aftermath of the 2008 Global Financial Crisis—which to a very large extent was brought about by failures of central banks
Joseph E. Stiglitz, Guest Speaker
It is a real pleasure for me to be able to deliver this lecture in memory of the Reserve Bank of India's first Indian Governor, who set an example and a tradition which has resulted in the Reserve Bank of India being viewed as one of the exemplars of central banks around the world. As I shall comment later, one could not help but notice this in the aftermath of the 2008 Global Financial Crisis—which to a very large extent was brought about by failures of central banks
Dec 17, 2012
Money Market and Monetary Operations in India
I thank Mr. G. Mahalingam for the opportunity to share my thoughts in this distinguished panel on money market. This forum which brings together the Reserve Bank and practitioners in the financial market, is important not only from the perspective of market development but also for fostering a better understanding of monetary operations. Money market is at the heart of monetary operations. Over the last decade, there has been substantial development in the Indian mone
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank Mr. G. Mahalingam for the opportunity to share my thoughts in this distinguished panel on money market. This forum which brings together the Reserve Bank and practitioners in the financial market, is important not only from the perspective of market development but also for fostering a better understanding of monetary operations. Money market is at the heart of monetary operations. Over the last decade, there has been substantial development in the Indian mone
Nov 09, 2012
The Importance of Inflation Expectations
‘‘Each possesses within himself two antagonistic and foolish counsellors, whom we call by the names of pleasure and pain…besides these two, each man possesses opinions about the future, which go by the general name of ‘expectations’; and of these, that which precedes pain bears the special name of ‘fear’, and that which precedes pleasure the special name of ‘confidence’.” Plato, 360 BC I thank Dr. Sesha Iyer and Dr. Pattnaik for the invitation to address this young au
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
‘‘Each possesses within himself two antagonistic and foolish counsellors, whom we call by the names of pleasure and pain…besides these two, each man possesses opinions about the future, which go by the general name of ‘expectations’; and of these, that which precedes pain bears the special name of ‘fear’, and that which precedes pleasure the special name of ‘confidence’.” Plato, 360 BC I thank Dr. Sesha Iyer and Dr. Pattnaik for the invitation to address this young au
Oct 18, 2012
Managing Currency and Interest Rate Risks – New Challenges for Banks & Corporates
It is a pleasure to be here at the 2nd FT-Yes Bank International Banking Summit amidst a very distinguished set of panellists and audience. I must compliment the organisers for selecting a very wide range of subjects – subjects which are as varied as they are topical in the world as we live in today - for discussions. The subject for this session “Managing currency and interest rate risks – new challenges for banks and corporations” is very relevant in the post crisis
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
It is a pleasure to be here at the 2nd FT-Yes Bank International Banking Summit amidst a very distinguished set of panellists and audience. I must compliment the organisers for selecting a very wide range of subjects – subjects which are as varied as they are topical in the world as we live in today - for discussions. The subject for this session “Managing currency and interest rate risks – new challenges for banks and corporations” is very relevant in the post crisis
Sep 23, 2012
Food Inflation and Agricultural Supply Chain Management
1. Shri Kailash Singh, Managing Director, Tefla’s, Shri Ramesh Abhishek, Chairman, Forward Market Commission, Dr. D. Bhalla, Joint Secretary, Department of Food and Public Distribution, Government of India, Shri. Sushil Goenka and Vijay Datta of the Solvent Extractors’ Association of India, Shri. Sandeep Bajoria, Chairman, Globoil Organising Committee, Shri. Dinesh Shahra, Dr. B. V. Mehta and other leaders from the edible oil and agri-commodity trade industries, and d
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
1. Shri Kailash Singh, Managing Director, Tefla’s, Shri Ramesh Abhishek, Chairman, Forward Market Commission, Dr. D. Bhalla, Joint Secretary, Department of Food and Public Distribution, Government of India, Shri. Sushil Goenka and Vijay Datta of the Solvent Extractors’ Association of India, Shri. Sandeep Bajoria, Chairman, Globoil Organising Committee, Shri. Dinesh Shahra, Dr. B. V. Mehta and other leaders from the edible oil and agri-commodity trade industries, and d
Sep 11, 2012
Financial Stability: 2007 to 2012 - Five years on
Mr. D. Sarkar, CMD, Union Bank of India, Mr. Pratip Chaudhuri, Chairman, State Bank of India, senior members of the banking fraternity, delegates to the Conference, members of the print and electronic media and other distinguished guests. It is my privilege to be here in FIBAC 2012 whose theme is “Sustainable excellence through customer engagement, employee engagement and right use of technology”. FIBAC is an important forum for serious deliberations on banking sector
Shri Anand Sinha, Deputy Governor, Reserve Bank of India
Mr. D. Sarkar, CMD, Union Bank of India, Mr. Pratip Chaudhuri, Chairman, State Bank of India, senior members of the banking fraternity, delegates to the Conference, members of the print and electronic media and other distinguished guests. It is my privilege to be here in FIBAC 2012 whose theme is “Sustainable excellence through customer engagement, employee engagement and right use of technology”. FIBAC is an important forum for serious deliberations on banking sector
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