Speeches - Regulating Commercial Banking - RBI - Reserve Bank of India
Speeches
Oct 09, 2006
Banking and Financial Sector Reforms : Status and Prospects*
Respected Prime Minister Sir, Shri Vineet Jain, Honourable Shri Chidambaram, Dr. Rangarajan, Shri Ahluwalia, leaders of industry and finance, and friends, I am thankful to the organisers for according me the privilege of participating in this panel discussion. My comments are divided into three parts - personal, present status, and prospects for Banking and Financial Sector Reforms. On the personal front, I have worked closely with all the distinguished panelists here
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Respected Prime Minister Sir, Shri Vineet Jain, Honourable Shri Chidambaram, Dr. Rangarajan, Shri Ahluwalia, leaders of industry and finance, and friends, I am thankful to the organisers for according me the privilege of participating in this panel discussion. My comments are divided into three parts - personal, present status, and prospects for Banking and Financial Sector Reforms. On the personal front, I have worked closely with all the distinguished panelists here
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Sep 27, 2006
Changing Paradigms in Risk Management
The world of finance has always had an intuitive understanding of risk. The risks that emerge from the increased variety and complexities of banking business, as well as from the various new drivers of growth has pushed the contours of risk management in banks much beyond what would probably have existed in the more traditional forms of banking activity of accepting deposits and lending in relatively stable environments. Internationally, the last two decades or so hav
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
The world of finance has always had an intuitive understanding of risk. The risks that emerge from the increased variety and complexities of banking business, as well as from the various new drivers of growth has pushed the contours of risk management in banks much beyond what would probably have existed in the more traditional forms of banking activity of accepting deposits and lending in relatively stable environments. Internationally, the last two decades or so hav
Sep 26, 2006
Demystifying Basel II*
Friends, it gives me great pleasure to share my thoughts on some of the elements of Basel II implementation in India with this august gathering. I firmly believe that periodical sharing of thoughts and views by us on issues of topical relevance with bankers - both domestic and foreign; eminent bank regulators and supervisors from abroad; and above all - the users of the banking system, is fundamental for promoting greater transparency and understanding of the intent a
Shri V. Leeladhar, Deputy Governor, Reserve Bank of India
Friends, it gives me great pleasure to share my thoughts on some of the elements of Basel II implementation in India with this august gathering. I firmly believe that periodical sharing of thoughts and views by us on issues of topical relevance with bankers - both domestic and foreign; eminent bank regulators and supervisors from abroad; and above all - the users of the banking system, is fundamental for promoting greater transparency and understanding of the intent a
Sep 07, 2006
Credit Counselling : An Indian Perspective
Mr. Chairman, distinguished guests and friends, I am thankful to Mr. Balachandran for providing this opportunity to be with this eminent gathering assembled for a noble cause. Bank of India has been among the banks known to be a pioneer in several areas of commercial banking. In this context, the initiative by the bank to establish credit counselling centers on a pilot basis highlights the pro-active role being played by our banks. In fact, a major reason for my agree
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Mr. Chairman, distinguished guests and friends, I am thankful to Mr. Balachandran for providing this opportunity to be with this eminent gathering assembled for a noble cause. Bank of India has been among the banks known to be a pioneer in several areas of commercial banking. In this context, the initiative by the bank to establish credit counselling centers on a pilot basis highlights the pro-active role being played by our banks. In fact, a major reason for my agree
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
Jul 24, 2006
Avian Influenza Pandemic: Preparedness within the Financial Sector*
I would like to welcome all of you to India for the IMF Seminar on "Preparedness within the Financial Sector for an Avian Influenza Pandemic", which has been a source of concern not only for health experts but also for policy makers in Governments and Central Banks alike. It is important to undertake activities that are preventive in nature, so that the probability of an undesirable event is minimised. The Fund’s efforts to bring countries that are vulnerable to the p
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I would like to welcome all of you to India for the IMF Seminar on "Preparedness within the Financial Sector for an Avian Influenza Pandemic", which has been a source of concern not only for health experts but also for policy makers in Governments and Central Banks alike. It is important to undertake activities that are preventive in nature, so that the probability of an undesirable event is minimised. The Fund’s efforts to bring countries that are vulnerable to the p
Jul 01, 2006
Banks and Service to the Common Person
Chairperson of the Board Smt. Udeshi, Chairman of the IBA Shri Shetty, Deputy Governor Smt. Usha Thorat, distinguished bankers and friends, It gives me immense pleasure and satisfaction to be here to release the 'Code of Bank’s Commitment to Customers'. The Code signifies the first formal collaborative effort by the Reserve Bank of India, the banks and the newly set up Banking Codes and Standards Board of India (BCSBI) to provide a framework for a minimum standard of
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Chairperson of the Board Smt. Udeshi, Chairman of the IBA Shri Shetty, Deputy Governor Smt. Usha Thorat, distinguished bankers and friends, It gives me immense pleasure and satisfaction to be here to release the 'Code of Bank’s Commitment to Customers'. The Code signifies the first formal collaborative effort by the Reserve Bank of India, the banks and the newly set up Banking Codes and Standards Board of India (BCSBI) to provide a framework for a minimum standard of
Jun 03, 2006
Financial Sector Reforms and Monetary Policy: The Indian Experience
I. Introduction Since the initiation of reforms in the early 1990s, the Indian economy has achieved high growth in an environment of macroeconomic and financial stability. The period has been marked by broad based economic reform that has touched every segment of the economy. These reforms were designed essentially to promote greater efficiency in the economy through promotion of greater competition. The story of Indian reforms is by now well-documented (e.g., Ahluwal
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I. Introduction Since the initiation of reforms in the early 1990s, the Indian economy has achieved high growth in an environment of macroeconomic and financial stability. The period has been marked by broad based economic reform that has touched every segment of the economy. These reforms were designed essentially to promote greater efficiency in the economy through promotion of greater competition. The story of Indian reforms is by now well-documented (e.g., Ahluwal
May 30, 2006
Treating Bank Customers Fairly- Regulatory Initiatives *
It gives me great pleasure to participate in this Congress organised by the Financial Planning Standards Board India. Today, there is much more awareness of the need to protect consumers' rights and ensure fair practices in financial services. Countries are designating specific regulators or self regulatory watch dogs for overseeing whether there is mis-selling and whether fair and transparent practices are being observed by financial intermediaries. While specific gr
Smt. Usha Thorat, Deputy Governor, Reserve Bank of India
It gives me great pleasure to participate in this Congress organised by the Financial Planning Standards Board India. Today, there is much more awareness of the need to protect consumers' rights and ensure fair practices in financial services. Countries are designating specific regulators or self regulatory watch dogs for overseeing whether there is mis-selling and whether fair and transparent practices are being observed by financial intermediaries. While specific gr
May 12, 2006
Approach to Basel II
Ladies and Gentlemen, it is my pleasure to be here at this program on emerging paradigms in risk management. As expected of me, in my address today, I intend to share with you the broad contours of the regulatory approach, process and thinking in regard to some of the issues arising in context of Basel II. Basel II aims to encourage the use of modern risk management techniques; and to encourage banks to ensure that their risk management capabilities are commensurate w
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
Ladies and Gentlemen, it is my pleasure to be here at this program on emerging paradigms in risk management. As expected of me, in my address today, I intend to share with you the broad contours of the regulatory approach, process and thinking in regard to some of the issues arising in context of Basel II. Basel II aims to encourage the use of modern risk management techniques; and to encourage banks to ensure that their risk management capabilities are commensurate w
May 09, 2006
Reforming India’s Financial Sector: Changing Dimensions and Emerging Issues *
Prof. Wyplosz, Mr. Roth and Distinguished ladies and gentlemen, I am honoured and indeed privileged to be amidst such an eminent gathering of central bankers and policymakers at the International Centre for Monetary and Banking Studies. In particular, I am grateful to Mr. Roth, Chairman, Swiss National Bank and Mr. Hildebrand for providing me this forum. The presentation today is on reforming India's financial sector. I eagerly look forward to the benefit of productiv
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Prof. Wyplosz, Mr. Roth and Distinguished ladies and gentlemen, I am honoured and indeed privileged to be amidst such an eminent gathering of central bankers and policymakers at the International Centre for Monetary and Banking Studies. In particular, I am grateful to Mr. Roth, Chairman, Swiss National Bank and Mr. Hildebrand for providing me this forum. The presentation today is on reforming India's financial sector. I eagerly look forward to the benefit of productiv
May 03, 2006
Challenges and implications of Basel II for Asia*
Mr. Chairman and friends, I am thankful to the organisers for inviting me to participate in the annual meetings of the Asian Development Bank and give my views on Basel II in the Asian context. I have a special affinity to the city of Hyderabad. I started in this city as a Research Scholar in 1960, then taught as a lecturer in Osmania University till 1964, and later, was the Collector and District Magistrate of Hyderabad city in 1976-77. Again, I worked here as Secret
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Mr. Chairman and friends, I am thankful to the organisers for inviting me to participate in the annual meetings of the Asian Development Bank and give my views on Basel II in the Asian context. I have a special affinity to the city of Hyderabad. I started in this city as a Research Scholar in 1960, then taught as a lecturer in Osmania University till 1964, and later, was the Collector and District Magistrate of Hyderabad city in 1976-77. Again, I worked here as Secret
Mar 10, 2006
Financial Sector Reform and Financial Stability
Mr. President and distinguished friends, It is a privilege and an honour to be invited for this 8th Global Conference of Actuaries. Dr. R. Kannan has been a respected colleague of mine for several years in the Reserve Bank and I am thankful to him for persuading me to join you. Also, Mr. C.S. Rao, Chairman, IRDA and Mr. D. Swarup, PFRDA have been my friends and colleagues in the Government of Andhra Pradesh and Government of India. Financial sector reform and financia
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Mr. President and distinguished friends, It is a privilege and an honour to be invited for this 8th Global Conference of Actuaries. Dr. R. Kannan has been a respected colleague of mine for several years in the Reserve Bank and I am thankful to him for persuading me to join you. Also, Mr. C.S. Rao, Chairman, IRDA and Mr. D. Swarup, PFRDA have been my friends and colleagues in the Government of Andhra Pradesh and Government of India. Financial sector reform and financia
Mar 06, 2006
Reforms, Productivity and Efficiency in Banking: The Indian Experience
Let me at the outset congratulate the Pakistan Society of Development Economists for organising this Conference. Issues of productivity and efficiency have been at the centre-stage of discussions in recent years. Nowhere is this truer than the financial sector, which is perceived to be the ‘brain’ of the economy (Stiglitz, 1998). Even within the financial sector, given the dominance of bank-based financial systems in most emerging markets including ours and the system
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
Let me at the outset congratulate the Pakistan Society of Development Economists for organising this Conference. Issues of productivity and efficiency have been at the centre-stage of discussions in recent years. Nowhere is this truer than the financial sector, which is perceived to be the ‘brain’ of the economy (Stiglitz, 1998). Even within the financial sector, given the dominance of bank-based financial systems in most emerging markets including ours and the system
Jan 31, 2006
Indian banks and the global challenges*
It gives me great pleasure and privilege to participate in the Seminar jointly hosted by Indian Merchants' Chamber and IBA at a juncture when financial services sector across jurisdictions is going through a strong phase of increasing globalisation. Integration of economies leads to integration of financial markets catalyzing the globalisation process. The growing role of the financial sector in allocation of resources has significant potential advantages for the effi
Shri V. Leeladhar, Deputy Governor, Reserve Bank of India
It gives me great pleasure and privilege to participate in the Seminar jointly hosted by Indian Merchants' Chamber and IBA at a juncture when financial services sector across jurisdictions is going through a strong phase of increasing globalisation. Integration of economies leads to integration of financial markets catalyzing the globalisation process. The growing role of the financial sector in allocation of resources has significant potential advantages for the effi
Dec 16, 2005
Corporate governance in banks in India
Friends, I am thankful to the organisers for inviting me to give a luncheon address. There are several reasons why I was compelled to accept the responsibility. First, the eminence of the presentors, namely Indian Institute of Management, Bangalore, International Institute of Finance and Indian Banks’ Association. Second, the persuasive skills of Mr. Sinor who brings to bear the persona of the whole banking community on any subject. Third, growing importance being acc
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Friends, I am thankful to the organisers for inviting me to give a luncheon address. There are several reasons why I was compelled to accept the responsibility. First, the eminence of the presentors, namely Indian Institute of Management, Bangalore, International Institute of Finance and Indian Banks’ Association. Second, the persuasive skills of Mr. Sinor who brings to bear the persona of the whole banking community on any subject. Third, growing importance being acc
Dec 03, 2005
Future growth drivers : Retail versus corporate
Good afternoon, ladies and gentlemen. It is my pleasure to be here in the precincts of one of the premier business schools of India. When Mr. Bhusnur Math, an ex-RBI colleague, approached me for this seminar, I must concede it was the association of MDI with the event that made me accept the invitation. The way the world is changing and becoming more complex, newer challenges are being thrown up necessitating more interaction and dialogue between academia and the poli
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
Good afternoon, ladies and gentlemen. It is my pleasure to be here in the precincts of one of the premier business schools of India. When Mr. Bhusnur Math, an ex-RBI colleague, approached me for this seminar, I must concede it was the association of MDI with the event that made me accept the invitation. The way the world is changing and becoming more complex, newer challenges are being thrown up necessitating more interaction and dialogue between academia and the poli
Nov 14, 2005
Indian banking – The challenges ahead
1. I deem it an honour to have been invited to deliver this year’s G Natarajan memorial lecture. I did not have the good fortune of meeting late Shri G.Natrajan but I have heard a lot about him from my friend Shri V.A. George. As a father of a mentally challenged child I had an insight into the activities of Smt. Poonam Natrajan, founder chairperson of Vidya Sagar, formerly known as Spastic Society of India, Chennai. I am grateful to her for inviting me to address thi
Shri V. Leeladhar, Deputy Governor, Reserve Bank of India
1. I deem it an honour to have been invited to deliver this year’s G Natarajan memorial lecture. I did not have the good fortune of meeting late Shri G.Natrajan but I have heard a lot about him from my friend Shri V.A. George. As a father of a mentally challenged child I had an insight into the activities of Smt. Poonam Natrajan, founder chairperson of Vidya Sagar, formerly known as Spastic Society of India, Chennai. I am grateful to her for inviting me to address thi
Nov 14, 2005
Corporate Governance in the Financial Sector
I am happy to be here today at the annual seminar of insurance regulators and feel fortunate to share the platform with a very distinguished international expert Dr. YRK Reddy of the Academy of Corporate Governance. Keeping in view the discussions on corporate governance scheduled at the seminar I intend to give a brief overview of the role and importance of corporate governance in the banking sector, initiatives undertaken by RBI and then a flag a few generic issues
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
I am happy to be here today at the annual seminar of insurance regulators and feel fortunate to share the platform with a very distinguished international expert Dr. YRK Reddy of the Academy of Corporate Governance. Keeping in view the discussions on corporate governance scheduled at the seminar I intend to give a brief overview of the role and importance of corporate governance in the banking sector, initiatives undertaken by RBI and then a flag a few generic issues
Oct 07, 2005
Banks and Corporates as Partners in Progress
Friends, I am thankful to the organisers for giving me the opportunity to be with you and deliver the valedictory address at the FICCI-IBA Conference on ‘Global Banking : Paradigm Shift’. It is noteworthy that eminent persons from diverse areas of expertise and experience have participated in the Conference; and quite a few of them are from global bodies such as, BIS and central bankers or banking regulators from Mauritius, Pakistan, Saudi Arabia, Singapore, U.K. and
Dr. Y. V. Reddy, Governor, Reserve Bank of India
Friends, I am thankful to the organisers for giving me the opportunity to be with you and deliver the valedictory address at the FICCI-IBA Conference on ‘Global Banking : Paradigm Shift’. It is noteworthy that eminent persons from diverse areas of expertise and experience have participated in the Conference; and quite a few of them are from global bodies such as, BIS and central bankers or banking regulators from Mauritius, Pakistan, Saudi Arabia, Singapore, U.K. and
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