Speeches - Payment and Settlement Systems - RBI - Reserve Bank of India
Speeches
Aug 29, 2008
Remarks by Smt. Shyamala Gopinath, on the launch of currency futures
Honourable Finance Minister, Chairman SEBI Shri Bhave, Chairman NSE, Shri Mathur, MD & CEO NSE, Shri Ravi Narain, DMD, NSE Smt. Chitra Ramakrishnan, ladies and gentlemen. </font>2. We are gathered here to mark an event of great significance in the context of Indian financial markets. This event is in fulfillment of the announcement made by the Hon. Finance Minister as part of the Budget Speech in February 2008. It may be recalled that the preparatory work in
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
Honourable Finance Minister, Chairman SEBI Shri Bhave, Chairman NSE, Shri Mathur, MD & CEO NSE, Shri Ravi Narain, DMD, NSE Smt. Chitra Ramakrishnan, ladies and gentlemen. </font>2. We are gathered here to mark an event of great significance in the context of Indian financial markets. This event is in fulfillment of the announcement made by the Hon. Finance Minister as part of the Budget Speech in February 2008. It may be recalled that the preparatory work in
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Jun 27, 2008
The Virtues and Vices of Talking About Monetary Policy: Some Comments
Governor Yilmaz, Professor Alan Blinder, Professor Benjamin Friedman, fellow-Governors, and distinguished academics, I am honoured by the invitation from the Bank for International Settlements to be a discussant, for a Paper by the eminent and respected scholar, Professor Alan Blinder. It is virtually impossible to add value to the comprehensive and incisive analysis of the subject in the Paper, which is on a subject of great relevance to central bankers. My comments
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Governor Yilmaz, Professor Alan Blinder, Professor Benjamin Friedman, fellow-Governors, and distinguished academics, I am honoured by the invitation from the Bank for International Settlements to be a discussant, for a Paper by the eminent and respected scholar, Professor Alan Blinder. It is virtually impossible to add value to the comprehensive and incisive analysis of the subject in the Paper, which is on a subject of great relevance to central bankers. My comments
Mar 28, 2008
Innovation and Growth: Role of the Financial Sector
‘Accelerating productivity growth entails a matching acceleration in the potential output of goods and services and a corresponding rise in the real incomes available to purchase the new output. The problem is that the pickup in productivity tends to create even greater increases in aggregate demand than potential aggregate supply’—Alan Greenspan‘Whatever the supply side may have in store, delivering low and stable inflation—and being expected to do so—is how monetary
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
‘Accelerating productivity growth entails a matching acceleration in the potential output of goods and services and a corresponding rise in the real incomes available to purchase the new output. The problem is that the pickup in productivity tends to create even greater increases in aggregate demand than potential aggregate supply’—Alan Greenspan‘Whatever the supply side may have in store, delivering low and stable inflation—and being expected to do so—is how monetary
Nov 04, 2006
Financial Inclusion for Sustainable Development : Role of IT and Intermediaries
My topic today is financial inclusion for sustainable development and how IT and community based organisations including NGOs can be leveraged for expanding banking outreach so as to meet the needs of the underserved population. Financial inclusion has become a buzzword internationally – even in developed financial markets there are concerns about those excluded from the banking system especially migrant workers. The barriers to access to formal banking system have be
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
My topic today is financial inclusion for sustainable development and how IT and community based organisations including NGOs can be leveraged for expanding banking outreach so as to meet the needs of the underserved population. Financial inclusion has become a buzzword internationally – even in developed financial markets there are concerns about those excluded from the banking system especially migrant workers. The barriers to access to formal banking system have be
Oct 23, 2006
Payment and Settlement Systems : Select issues
Director Shri Sharma, Mr. Hollandars, Mr. O’Connor, Mr. Shigang, Ms. Christova, Mr. Beau and distinguished participants and Ladies and Gentlemen, It is my pleasure to be with you this evening to deliver the valedictory address at the Regional Payment and Settlement Systems Workshop organised jointly by the Reserve Bank of India (RBI) and the Bank for International Settlements (BIS). Participants from the central banks of 16 countries from Africa and Asia have attended
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Director Shri Sharma, Mr. Hollandars, Mr. O’Connor, Mr. Shigang, Ms. Christova, Mr. Beau and distinguished participants and Ladies and Gentlemen, It is my pleasure to be with you this evening to deliver the valedictory address at the Regional Payment and Settlement Systems Workshop organised jointly by the Reserve Bank of India (RBI) and the Bank for International Settlements (BIS). Participants from the central banks of 16 countries from Africa and Asia have attended
Sep 05, 2006
Use of technology in the financial sector: Significance of concerted efforts*
Shri Arvind Sharma, Director, IDRBT, members of the Governing Council of the IDRBT, fellow bankers and distinguished guests, It gives me immense pleasure to be here with friends from the banking fraternity. In fact, being here is part of my annual pilgrimage to the Institute for Development and Research in Banking Technology (IDRBT). At the outset, I would like to compliment the Governing Council, faculty and staff of the IDRBT for continuing with their mission with d
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Shri Arvind Sharma, Director, IDRBT, members of the Governing Council of the IDRBT, fellow bankers and distinguished guests, It gives me immense pleasure to be here with friends from the banking fraternity. In fact, being here is part of my annual pilgrimage to the Institute for Development and Research in Banking Technology (IDRBT). At the outset, I would like to compliment the Governing Council, faculty and staff of the IDRBT for continuing with their mission with d
Jun 22, 2005
Challenges In Banking Security
Fellow Participants and Colleagues, It gives me great pleasure to be in your midst, as we commence this workshop on Banking Security. I am particularly happy to be here to address a group of involved persons who are the harbingers of change – so to say – in the use of technology in Banking. Banking as a business involves the management of risks. While much has been said about the financial risks, the risks arising out of the large scale implementation of technology is
Shri V. Leeladhar, Deputy Governor, Reserve Bank of India
Fellow Participants and Colleagues, It gives me great pleasure to be in your midst, as we commence this workshop on Banking Security. I am particularly happy to be here to address a group of involved persons who are the harbingers of change – so to say – in the use of technology in Banking. Banking as a business involves the management of risks. While much has been said about the financial risks, the risks arising out of the large scale implementation of technology is
Jun 09, 2005
Banking with Technology – The Road Ahead
Ladies and Gentlemen, I deem it a privilege to be present at this conclave being conducted by the Indian Banks’ Association, on an appropriate topic at an appropriate time and to an appropriate audience who would be the catalysts of change as banking in India is poised for greater leaps in the near future. I am sure that bankers in India are feeling the positive impact of the technological revolution in the way banking is being transformed. Banks need to be ready to t
Shri V. Leeladhar, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen, I deem it a privilege to be present at this conclave being conducted by the Indian Banks’ Association, on an appropriate topic at an appropriate time and to an appropriate audience who would be the catalysts of change as banking in India is poised for greater leaps in the near future. I am sure that bankers in India are feeling the positive impact of the technological revolution in the way banking is being transformed. Banks need to be ready to t
Jun 07, 2005
A BIT of Tomorrow
The topic for today’s conclave is 'Technology Solutions for Business Transformation' and I have chosen to speak on 'A BIT (Banking and Information Technology) of Tomorrow'. I do not consider myself as being even computer savvy. But one does not have to be an IT professional to think of how IT can bring about business transformation. For this, all that the banker needs is to have vision, conviction and the courage to change. It is for the IT professional to make it pos
Smt. K.J. Udeshi, Deputy Governor, Reserve Bank of India
The topic for today’s conclave is 'Technology Solutions for Business Transformation' and I have chosen to speak on 'A BIT (Banking and Information Technology) of Tomorrow'. I do not consider myself as being even computer savvy. But one does not have to be an IT professional to think of how IT can bring about business transformation. For this, all that the banker needs is to have vision, conviction and the courage to change. It is for the IT professional to make it pos
Jul 30, 2004
Indian Banking and e-Security*
I. INTRODUCTION Thank you very much for inviting me to this inaugural session of the Conference on e-security. With the expansion of IT applications in the Indian banking system, there is a concomitant increase in concerns relating to e-security. It is, therefore, very appropriate and timely that the Indian Banks' Association (IBA) and Manufacturers Association of Information Technology (MAIT) have come together to organize this conference. The banking sector is one o
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I. INTRODUCTION Thank you very much for inviting me to this inaugural session of the Conference on e-security. With the expansion of IT applications in the Indian banking system, there is a concomitant increase in concerns relating to e-security. It is, therefore, very appropriate and timely that the Indian Banks' Association (IBA) and Manufacturers Association of Information Technology (MAIT) have come together to organize this conference. The banking sector is one o
Aug 21, 2003
Recent Technological Developments In Indian Banking
Presentation (Powerpoint) by Shri Vepa Kamesam Deputy Governor Reserve Bank of India on Recent Technological Developments In Indian Banking
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India
Presentation (Powerpoint) by Shri Vepa Kamesam Deputy Governor Reserve Bank of India on Recent Technological Developments In Indian Banking
Aug 21, 2003
Recent Technological Developments in Indian Banking (Currency Management)
Presentation (Powerpoint) by Shri Vepa Kamesam Deputy Governor Reserve Bank of India on Recent Technological Developments in Indian Banking (Currency Management)
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India
Presentation (Powerpoint) by Shri Vepa Kamesam Deputy Governor Reserve Bank of India on Recent Technological Developments in Indian Banking (Currency Management)
Jul 21, 2003
Roll-out Strategy for RTGS Implementation1
I welcome you all to this meeting. I am glad to share with you that the implementation of the RTGS Project has progressed significantly and is now critically poised. Even when I am speaking to you, the demonstration of the Demo RTGS System to a group of bank officials is in progress in our Bankers’ Training College. The RTGS System is scheduled to be delivered by the end of October, 2003, followed by installation, testing and commencement of parallel run before the ye
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India
I welcome you all to this meeting. I am glad to share with you that the implementation of the RTGS Project has progressed significantly and is now critically poised. Even when I am speaking to you, the demonstration of the Demo RTGS System to a group of bank officials is in progress in our Bankers’ Training College. The RTGS System is scheduled to be delivered by the end of October, 2003, followed by installation, testing and commencement of parallel run before the ye
May 06, 2003
Payment & Settlement Systems
The Payment and Settlement System is an essential part of the financial system of a vibrant economy. Consolidation, Development and Integration of the financial infrastructure and reforms in the payment and settlement systems of the country that address the twin issues of safety and efficiency have been engaging the attention of the Central Bankers and Financial Institutions the world over. Payment and Settlement Systems are no longer the backwaters of either the bank
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India
The Payment and Settlement System is an essential part of the financial system of a vibrant economy. Consolidation, Development and Integration of the financial infrastructure and reforms in the payment and settlement systems of the country that address the twin issues of safety and efficiency have been engaging the attention of the Central Bankers and Financial Institutions the world over. Payment and Settlement Systems are no longer the backwaters of either the bank
Nov 02, 2001
Changing Faces of Banking : Banking With Technology 1
It gives me great pleasure to be present among you and share some of my thoughts on the changes staring at bankers today and the role that technology has to play as one of the significant contributors to managing the change. I am particularly glad that I can kick start the much needed initiatives by sowing the seeds in the minds of the topmost harbingers of change in the public sector banks. And the optimal start could not be better than the facilities provided for by
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India
It gives me great pleasure to be present among you and share some of my thoughts on the changes staring at bankers today and the role that technology has to play as one of the significant contributors to managing the change. I am particularly glad that I can kick start the much needed initiatives by sowing the seeds in the minds of the topmost harbingers of change in the public sector banks. And the optimal start could not be better than the facilities provided for by
Jun 13, 2000
Changing Role of RBI: Agenda for Attention
Mr. Chairman and friends, I am grateful to the organisers of the Madon Memorial Lecture for inviting me to deliver this Lecture. That the contributions of Shri B.F. Madon are of lasting value is evident from the fact that although, over seventy years have elapsed since he passed away, lectures in his memory are organised, and the response is still overwhelming. There are several reasons why I feel especially elated at my association with this lecture series. First, Ma
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman and friends, I am grateful to the organisers of the Madon Memorial Lecture for inviting me to deliver this Lecture. That the contributions of Shri B.F. Madon are of lasting value is evident from the fact that although, over seventy years have elapsed since he passed away, lectures in his memory are organised, and the response is still overwhelming. There are several reasons why I feel especially elated at my association with this lecture series. First, Ma
Jul 22, 1999
IT and the Banking Sector
Ladies and Gentlemen,I am glad to be amidst you on this important occasion which is the culmination of a joint initiative undertaken by the Indian Banks Association and the National Association of Software and Service Companies (NASSCOM) to discuss issues surrounding IT for banking and other financial institutions. I congratulate both the IBA and the NASSCOM on their choice of the theme for the Conference, which in my view is critical to the growth of the industry. I
Shri S. P. Talwar, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen,I am glad to be amidst you on this important occasion which is the culmination of a joint initiative undertaken by the Indian Banks Association and the National Association of Software and Service Companies (NASSCOM) to discuss issues surrounding IT for banking and other financial institutions. I congratulate both the IBA and the NASSCOM on their choice of the theme for the Conference, which in my view is critical to the growth of the industry. I
Jun 19, 1999
INFINET and the Payment Systems
By S.P.TalwarLadies and Gentlemen, I am very happy to be here today to inaugurate the VSAT-based communication network. Undoubtedly this is a formal occasion but also an occasion that opens a new chapter in the history of Indias banking technology. I am also happy that this event marks the very first major successful project undertaken by the Institute for Development and Research in Banking Technology (IDRBT). Let me also take this opportunity to express my deep app
Shri S. P. Talwar, Deputy Governor, Reserve Bank of India
By S.P.TalwarLadies and Gentlemen, I am very happy to be here today to inaugurate the VSAT-based communication network. Undoubtedly this is a formal occasion but also an occasion that opens a new chapter in the history of Indias banking technology. I am also happy that this event marks the very first major successful project undertaken by the Institute for Development and Research in Banking Technology (IDRBT). Let me also take this opportunity to express my deep app
Jun 19, 1999
INFINET and its Impact on Banking
Keynote Address by A.VasudevanLadies and Gentlemen,Today is a momentous occasion for all of us. We are now at the threshold of a great change a kind of a revolution, so to say, in technology for the banking sector. We have all had the privilege of hearing a very important and a very purposeful speech of Deputy Governor, Shri Talwar, a few moments ago. I have, therefore, very little to speak on the network as such. I would, therefore, dwell on a tangential issue
Dr. A.Vasudevan, Executive Director, Reserve Bank of India
Keynote Address by A.VasudevanLadies and Gentlemen,Today is a momentous occasion for all of us. We are now at the threshold of a great change a kind of a revolution, so to say, in technology for the banking sector. We have all had the privilege of hearing a very important and a very purposeful speech of Deputy Governor, Shri Talwar, a few moments ago. I have, therefore, very little to speak on the network as such. I would, therefore, dwell on a tangential issue
Feb 24, 1999
Inaugural Address at the National Seminar on Computer Related Crime, New Delhi, February 24, 1999
by Shri S P Talwar, Deputy Governor, Reserve Bank of IndiaLadies and Gentlemen,It gives me great pleasure to be amidst the representatives of the financial sector, National as well as International law enforcement agencies who have gathered here at the National Seminar on Computer Related Crime to interact on the threats posed by risks in computerised environment.The economic loss caused internationally by this type of crime is estimated to run into large sums. Althou
Shri S. P. Talwar, Deputy Governor, Reserve Bank of India
by Shri S P Talwar, Deputy Governor, Reserve Bank of IndiaLadies and Gentlemen,It gives me great pleasure to be amidst the representatives of the financial sector, National as well as International law enforcement agencies who have gathered here at the National Seminar on Computer Related Crime to interact on the threats posed by risks in computerised environment.The economic loss caused internationally by this type of crime is estimated to run into large sums. Althou
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