Speeches - Research and Data - RBI - Reserve Bank of India
Speeches
Aug 03, 2018
Remarks for the Convocation Ceremony at the Meghnad Desai Academy of Economics - Urjit R. Patel
1. The ‘Class of 2018’ and their parents, guests and students, Lord Meghnad Desai, Chairman of the Meghnad Desai Academy of Economics, and the academic fraternity of the Academy, I am deeply honoured to be invited to the convocation ceremony. It reminds me fondly of my graduation ceremony three decades back.
2. Although his enormous standing and body of work is well known, let me say a few words about Lord Meghnad Desai, the Academy’s Chairman, Professor Emeritus at the London School of Economics, a renowned academic and a prominent global public figure. His contributions to the field of economics and education, and particularly his commitment to teaching at the London School of Economics, are the stuff of legend. He has also been an enlightened institution builder, a shining example of which is the Centre for the Study of Global Governance that he established in 1992. Lord Desai has written extensively, covering international political economy, Marxian economics, monetary economics, economic history and globalisation (as an aside, Lord Desai’s book ‘Testing Monetarism’ was required reading for macro courses in the United Kingdom in the 1980s). He has also worked extensively on issues relating to the Indian polity and has also been a sagacious influence in the political life of the UK. In recognition of thes
Dr. Urjit R. Patel, Governor, Reserve Bank of India
1. The ‘Class of 2018’ and their parents, guests and students, Lord Meghnad Desai, Chairman of the Meghnad Desai Academy of Economics, and the academic fraternity of the Academy, I am deeply honoured to be invited to the convocation ceremony. It reminds me fondly of my graduation ceremony three decades back.
2. Although his enormous standing and body of work is well known, let me say a few words about Lord Meghnad Desai, the Academy’s Chairman, Professor Emeritus at the London School of Economics, a renowned academic and a prominent global public figure. His contributions to the field of economics and education, and particularly his commitment to teaching at the London School of Economics, are the stuff of legend. He has also been an enlightened institution builder, a shining example of which is the Centre for the Study of Global Governance that he established in 1992. Lord Desai has written extensively, covering international political economy, Marxian economics, monetary economics, economic history and globalisation (as an aside, Lord Desai’s book ‘Testing Monetarism’ was required reading for macro courses in the United Kingdom in the 1980s). He has also worked extensively on issues relating to the Indian polity and has also been a sagacious influence in the political life of the UK. In recognition of thes
PDF (
Jan 15, 2018
Understanding and Managing Interest Rate Risk at Banks
Let me at the outset wish all of you a happy and healthy New Year. Thank you to Fixed Income Money Markets and Derivatives Association (FIIMDA) and its organizing team for inviting me to deliver this keynote address at its Annual Meet. I will speak today about understanding and managing better the interest rate risk at Indian banks. I will start, however, by looking elsewhere and historically, often a very good place to start. In the period after the Global Financial
Dr. Viral V. Acharya, Deputy Governor, Reserve Bank of India
Let me at the outset wish all of you a happy and healthy New Year. Thank you to Fixed Income Money Markets and Derivatives Association (FIIMDA) and its organizing team for inviting me to deliver this keynote address at its Annual Meet. I will speak today about understanding and managing better the interest rate risk at Indian banks. I will start, however, by looking elsewhere and historically, often a very good place to start. In the period after the Global Financial
Dec 15, 2017
CAFRAL Conference on “Financial System and the Macroeconomy”
1. It gives me great pleasure to be here this morning to share some observations and thoughts. The theme of this international conference: “Financial System and the Macroeconomy”, and the papers that are slated for presentation touch upon a number of issues that the Reserve Bank has been grappling with. (Needless to say, some of the conference participants who follow the Indian economy closely would already be aware of what I am about to briefly enunciate, but others
Dr. Urjit R. Patel, Governor, Reserve Bank of India
1. It gives me great pleasure to be here this morning to share some observations and thoughts. The theme of this international conference: “Financial System and the Macroeconomy”, and the papers that are slated for presentation touch upon a number of issues that the Reserve Bank has been grappling with. (Needless to say, some of the conference participants who follow the Indian economy closely would already be aware of what I am about to briefly enunciate, but others
Dec 14, 2017
Global spillovers: Managing capital flows and forex reserves
Dr. Viral V. Acharya, Deputy Governor, Reserve Bank of India
Jul 06, 2017
A Case for Public Credit Registry in India
Good Morning Governor, Deputy Governors S.S. Mundra, N.S. Viswanathan and B. P. Kanungo, our Chief Guest, Speakers and the team! Introduction to the Annual Statistics Day Taking off from Shri Chetan Bhagat’s address in the pre-conference dinner last evening, I hope you are all ‘alive’ today, rather than just ‘existing’ or ‘fading’. Thank you for coming in large numbers for the Annual Statistics Day Conference of the Reserve Bank of India. This auditorium has a limited
Dr. Viral V. Acharya, Deputy Governor, Reserve Bank of India
Good Morning Governor, Deputy Governors S.S. Mundra, N.S. Viswanathan and B. P. Kanungo, our Chief Guest, Speakers and the team! Introduction to the Annual Statistics Day Taking off from Shri Chetan Bhagat’s address in the pre-conference dinner last evening, I hope you are all ‘alive’ today, rather than just ‘existing’ or ‘fading’. Thank you for coming in large numbers for the Annual Statistics Day Conference of the Reserve Bank of India. This auditorium has a limited
May 19, 2017
A Call for Enterprise in Economic Data Generation and Information Analytics
Dr. Viral V. Acharya, Deputy Governor, Reserve Bank of India
Jan 11, 2017
Macro and Micro Drivers of Business Potential of IFSCs in India
A. Introduction 1. We are gathered here today to commemorate the establishment and success of GIFT, India’s first International Financial Services Centre (IFSC) that brings together world class infrastructure, connectivity, people and technology on a single platform for businesses across the world. An all-inclusive and modern economic zone, it offers global firms competitive access to India’s large and burgeoning demand for financial services. 2. International Financi
Dr. Urjit R. Patel, Governor, Reserve Bank of India
A. Introduction 1. We are gathered here today to commemorate the establishment and success of GIFT, India’s first International Financial Services Centre (IFSC) that brings together world class infrastructure, connectivity, people and technology on a single platform for businesses across the world. An all-inclusive and modern economic zone, it offers global firms competitive access to India’s large and burgeoning demand for financial services. 2. International Financi
Sep 03, 2016
The Independence of the Central Bank
Good afternoon. It is great to be invited to speak at St. Stephen's College. In 1980, I toyed with the idea of joining my best friends in applying for admission to the BA in Economics here. Because I had worked so hard for the IIT exam, however, I succumbed to the sunk cost fallacy and studied Electrical Engineering. I don’t regret a moment of that misspent youth but I hope you will grant me temporary membership of your club today! Over the last few weeks, I have outl
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Good afternoon. It is great to be invited to speak at St. Stephen's College. In 1980, I toyed with the idea of joining my best friends in applying for admission to the BA in Economics here. Because I had worked so hard for the IIT exam, however, I succumbed to the sunk cost fallacy and studied Electrical Engineering. I don’t regret a moment of that misspent youth but I hope you will grant me temporary membership of your club today! Over the last few weeks, I have outl
Jul 26, 2016
Policy and Evidence
Good morning. It is a pleasure to welcome learned statisticians and economists from across the world to this Statistics Day celebration at the RBI. I am sure you will spend the day discussing advances in the fields of economics and statistics. These discussions will be very valuable. We certainly need to improve the quality and timeliness of our statistics, and big data can be very helpful. What I want to talk about this morning is, however, not the quality or timelin
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Good morning. It is a pleasure to welcome learned statisticians and economists from across the world to this Statistics Day celebration at the RBI. I am sure you will spend the day discussing advances in the fields of economics and statistics. These discussions will be very valuable. We certainly need to improve the quality and timeliness of our statistics, and big data can be very helpful. What I want to talk about this morning is, however, not the quality or timelin
May 12, 2016
Rethinking the Global Monetary System: Talk by Dr. Raghuram G. Rajan, Governor, Reserve Bank of India, at the London School of Economics, May 10, 2016
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
May 07, 2016
Money and Education
Thanks very much for inviting me to speak today. First, congratulations to all of you who are receiving degrees today. Congratulations also to your teachers, family, and friends who have invested in you and supported you. Convocation speeches are meant to give you one last set of issues to ponder on before you are let loose on the world. I will actually talk about two issues – an economic point deriving from my training as an economist, and a point about private unive
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Thanks very much for inviting me to speak today. First, congratulations to all of you who are receiving degrees today. Congratulations also to your teachers, family, and friends who have invested in you and supported you. Convocation speeches are meant to give you one last set of issues to ponder on before you are let loose on the world. I will actually talk about two issues – an economic point deriving from my training as an economist, and a point about private unive
Feb 04, 2016
Strengthening Free Enterprise in India
I did not have the privilege of meeting Nani Palkhivala, but every citizen of India has been affected in some way by his life’s work, and owes him a debt of gratitude. Born in 1920, Mr. Palkhivala was not only a jurist of the highest caliber, he was also a tireless champion of constitutional liberties, of human rights and individual freedom, and of economic freedom. Nani Palkhivala fought the Kesavananda Bharati case that established the principle that the Indian Parl
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
I did not have the privilege of meeting Nani Palkhivala, but every citizen of India has been affected in some way by his life’s work, and owes him a debt of gratitude. Born in 1920, Mr. Palkhivala was not only a jurist of the highest caliber, he was also a tireless champion of constitutional liberties, of human rights and individual freedom, and of economic freedom. Nani Palkhivala fought the Kesavananda Bharati case that established the principle that the Indian Parl
Oct 31, 2015
Tolerance and Respect for Economic Progress
Thank you very much for inviting me back to the Institute to deliver the convocation address. I graduated with a degree in Electrical Engineering 30 years ago. I was overly anxious then about what the future held for me, because I did not realize that the Institute had prepared me so well for what lay ahead. Our professors – and I will not single out any to avoid a disservice to those I do not name – were dedicated professionals. They asked a lot of us, knowing that i
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Thank you very much for inviting me back to the Institute to deliver the convocation address. I graduated with a degree in Electrical Engineering 30 years ago. I was overly anxious then about what the future held for me, because I did not realize that the Institute had prepared me so well for what lay ahead. Our professors – and I will not single out any to avoid a disservice to those I do not name – were dedicated professionals. They asked a lot of us, knowing that i
Aug 24, 2015
Strong Sustainable Growth for the Indian Economy
We live in an increasingly uncertain world. Seven years after the financial crisis, advanced economies are still growing slowly, while a number of emerging economies are experiencing difficulty as the old export-led growth model flounders. In this environment, there is both challenge and opportunity. Challenge because the world will not provide the strong and supportive growth environment we had in the last decade, opportunity because global capital is looking for inv
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
We live in an increasingly uncertain world. Seven years after the financial crisis, advanced economies are still growing slowly, while a number of emerging economies are experiencing difficulty as the old export-led growth model flounders. In this environment, there is both challenge and opportunity. Challenge because the world will not provide the strong and supportive growth environment we had in the last decade, opportunity because global capital is looking for inv
Dec 12, 2014
Make in India, Largely for India
The global economy is still weak, despite a strengthening recovery in the United States. The Euro area is veering close to recession, Japan has already experienced two quarters of negative growth after a tax hike, and many emerging markets are rethinking their export-led growth models as the industrial world stagnates. In the last couple of years, the IMF has repeatedly reduced its growth forecasts. After 6 years of a tepid post-crisis recovery, the IMF titled its mos
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
The global economy is still weak, despite a strengthening recovery in the United States. The Euro area is veering close to recession, Japan has already experienced two quarters of negative growth after a tax hike, and many emerging markets are rethinking their export-led growth models as the industrial world stagnates. In the last couple of years, the IMF has repeatedly reduced its growth forecasts. After 6 years of a tepid post-crisis recovery, the IMF titled its mos
Nov 03, 2014
IMF’s call for higher public spending in infra not well-timed: Urjit R Patel, Deputy Governor, Reserve Bank of India
Dr. Urjit R. Patel, Deputy Governor, Reserve Bank of India
Oct 20, 2014
Corporate Sustainability a Panacea for Growth: Values, Convictions and Actions
Introduction: Good morning to Dignitaries on the dais, members of faculty and my young friends in the audience. At the outset, my apologies for not being able to be physically present on this occasion on account of some personal exigencies. I am thankful to the organisers for having agreed to my thoughts being shared in absentia. Thanks to my colleague, Mr. C V George, General Manager and head of our Kochi office for readily agreeing to read out my address. 2. In the
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Introduction: Good morning to Dignitaries on the dais, members of faculty and my young friends in the audience. At the outset, my apologies for not being able to be physically present on this occasion on account of some personal exigencies. I am thankful to the organisers for having agreed to my thoughts being shared in absentia. Thanks to my colleague, Mr. C V George, General Manager and head of our Kochi office for readily agreeing to read out my address. 2. In the
Jul 14, 2014
Role of Financial Sector in the Growth of the Southern Region – A Question of Balancing
Good Morning Ladies and Gentlemen! 2. The importance and the lead role of financial sector for economic development attracted the attention of economists, policy makers as well as executors. According to Goldsmith (1969:400), “mobilizing liquid resource accelerates economic growth and improves economic performance to the extent that it facilitates the migration of funds to the best user, i.e. to the place in the economic system where the funds will find the highest so
Shri R. Gandhi, Deputy Governor, Reserve Bank of India
Good Morning Ladies and Gentlemen! 2. The importance and the lead role of financial sector for economic development attracted the attention of economists, policy makers as well as executors. According to Goldsmith (1969:400), “mobilizing liquid resource accelerates economic growth and improves economic performance to the extent that it facilitates the migration of funds to the best user, i.e. to the place in the economic system where the funds will find the highest so
Feb 25, 2014
Bold face of India’s economy speaks out
Emerging markets Jacob Greber and Greg Earl report on governor with an impeccable pedigree Raghuram Rajan represents the bold face of India’s potential new economy – impeccably credentialed, upbeat and ready to force himself onto centre stage in the global debate about the reshaping of the world economy. Appointed as governor of the Reserve Bank of India in September, Rajan has taken no time to make himself heard in international financial markets. Last month he too
Dr. Raghuram G. Rajan, Governor, Reserve Bank of India
Emerging markets Jacob Greber and Greg Earl report on governor with an impeccable pedigree Raghuram Rajan represents the bold face of India’s potential new economy – impeccably credentialed, upbeat and ready to force himself onto centre stage in the global debate about the reshaping of the world economy. Appointed as governor of the Reserve Bank of India in September, Rajan has taken no time to make himself heard in international financial markets. Last month he too
Jan 20, 2014
Recent Global Developments: Implications for Debt Management in Emerging Markets and Developing Countries
A very good morning to all. A warm welcome to Governor, Central Bank of Afghanistan, Deputy Governors of Bhutan and Nepal, officials from Government of India, executives of SAARC Secretariat and member countries and my colleagues from the Reserve Bank of India to the beautiful city of Jaipur. My special welcome to chairpersons and speakers for having accepted our invitation to share their expertise/knowledge on different areas of debt management with all of us. 2. A l
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
A very good morning to all. A warm welcome to Governor, Central Bank of Afghanistan, Deputy Governors of Bhutan and Nepal, officials from Government of India, executives of SAARC Secretariat and member countries and my colleagues from the Reserve Bank of India to the beautiful city of Jaipur. My special welcome to chairpersons and speakers for having accepted our invitation to share their expertise/knowledge on different areas of debt management with all of us. 2. A l
Install the RBI mobile application and get quick access to the latest news!
Page Last Updated on: November 06, 2024
