Speeches - Research and Data - RBI - Reserve Bank of India
Speeches
Sep 19, 2003
Economic Development of the North East Region:Some Reflections* - RAKESH MOHAN
It is a matter of great pleasure to be here with you to deliver the keynote address on this occasion of the 8th anniversary of the North Eastern Development Finance Corporation (NEDFi). As a financial institution NEDFi is unique, given the challenging domain of the North Eastern Region (NER) that it endeavours to promote. Like many of you, I have often wondered why the growth and development performance of this richly endowed Region has been well below its potential;
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
It is a matter of great pleasure to be here with you to deliver the keynote address on this occasion of the 8th anniversary of the North Eastern Development Finance Corporation (NEDFi). As a financial institution NEDFi is unique, given the challenging domain of the North Eastern Region (NER) that it endeavours to promote. Like many of you, I have often wondered why the growth and development performance of this richly endowed Region has been well below its potential;
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Sep 16, 2003
Indian Economic Scenario Yesterday – Today – Tomorrow
I am honoured to address this gathering which has been facilitating constructive interactions and garnering public debate on various issues confronting India. The theme chosen for this gathering ‘Indian Economic Scenario – Yesterday, Today and Tomorrow’ is one of the most important issues requiring wide public debate as the Indian Financial system is passing through a phase of transformation and consolidation. It is time to build strategies for the challenges that lie
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India
I am honoured to address this gathering which has been facilitating constructive interactions and garnering public debate on various issues confronting India. The theme chosen for this gathering ‘Indian Economic Scenario – Yesterday, Today and Tomorrow’ is one of the most important issues requiring wide public debate as the Indian Financial system is passing through a phase of transformation and consolidation. It is time to build strategies for the challenges that lie
Jul 25, 2003
Role of Quality Human Resource in Target Setting for Economic Growth1
I am indeed thankful to Technology Information, Forecasting and Assessment Council (TIFAC) and especially to Dr. R. Chidambaram, Chairman, TIFAC for inviting me to join the distinguished participants and share my thoughts on ‘Role of Quality Human Resources in Target Setting for Economic Growth’. As I understand TIFAC has undertaken an ambitious programme known as ‘MISSION REACH’ as a follow up of the Technology Vision-2020 recommendations. The MISSION REACH is three
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India
I am indeed thankful to Technology Information, Forecasting and Assessment Council (TIFAC) and especially to Dr. R. Chidambaram, Chairman, TIFAC for inviting me to join the distinguished participants and share my thoughts on ‘Role of Quality Human Resources in Target Setting for Economic Growth’. As I understand TIFAC has undertaken an ambitious programme known as ‘MISSION REACH’ as a follow up of the Technology Vision-2020 recommendations. The MISSION REACH is three
Jun 16, 2003
32nd ACU Board Meeting - Governor’s Welcome Address on June 16, 2003
Honourable Governors and distinguished Delegates, Guests, Ladies and Gentlemen:It is a great privilege for me to welcome you to this 32nd Board meeting of the Asian Clearing Union (ACU). I am happy that this meeting is being held in the city of Bangalore, known as the ‘City of Gardens’ , with a great tradition in music, literature, architecture, science and technology. The city is now known even more as India’s leading city for information technology.2. Before proceed
Dr. Bimal Jalan, Governor, Reserve Bank of India
Honourable Governors and distinguished Delegates, Guests, Ladies and Gentlemen:It is a great privilege for me to welcome you to this 32nd Board meeting of the Asian Clearing Union (ACU). I am happy that this meeting is being held in the city of Bangalore, known as the ‘City of Gardens’ , with a great tradition in music, literature, architecture, science and technology. The city is now known even more as India’s leading city for information technology.2. Before proceed
Jul 26, 2002
A Decade after 1991: New Challenges Facing the Indian Economy
I feel deeply honoured to have been invited to deliver the 28 th Frank Moraes Memorial Lecture this evening. I feel particularly honoured, but also humbled, when I look at the list of the very distinguished predecessors who have delivered this lecture. Frank Moraes was among the pioneers of independent Indian journalism. As editor of the Indian Express he set new standards in journalism in terms of both probity and quality of writing. I know that successive generation
Dr. Rakesh Mohan, Deputy Governor, Reserve Bank of India
I feel deeply honoured to have been invited to deliver the 28 th Frank Moraes Memorial Lecture this evening. I feel particularly honoured, but also humbled, when I look at the list of the very distinguished predecessors who have delivered this lecture. Frank Moraes was among the pioneers of independent Indian journalism. As editor of the Indian Express he set new standards in journalism in terms of both probity and quality of writing. I know that successive generation
Apr 03, 2002
Economic Reforms and Evolving Role of RBI as Banker to the Governments
Mr. Chairman, Mrs. Usha Sahajpal and friends, I am thankful to the organizers for inviting me to the Silver Jubilee Year of founding of Accounts Organisation and I recognize it as a reflection of the close cooperation and understanding that have evolved between Reserve Bank of India (RBI) as a banker to Government of India and its Accounts organisation. The title of the address refers to being banker to governments simply because RBI is a banker not only to the Centra
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman, Mrs. Usha Sahajpal and friends, I am thankful to the organizers for inviting me to the Silver Jubilee Year of founding of Accounts Organisation and I recognize it as a reflection of the close cooperation and understanding that have evolved between Reserve Bank of India (RBI) as a banker to Government of India and its Accounts organisation. The title of the address refers to being banker to governments simply because RBI is a banker not only to the Centra
Mar 21, 2002
Evolving Role of Gold – Recent Trends and Future Direction
Mr. Chairman, Mr. Tarapore, Distinguished visitors and friends,I am thankful to the World Gold Council (WGC) for inviting me to participate in this meeting on the future direction of the gold market. This is the third conference of WGC, with which I am being associated and I do notice that all of these are held in New Delhi. It shows that though Mumbai is the financial capital and a major centre for gold market in India, the directions of gold policy have been and wil
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman, Mr. Tarapore, Distinguished visitors and friends,I am thankful to the World Gold Council (WGC) for inviting me to participate in this meeting on the future direction of the gold market. This is the third conference of WGC, with which I am being associated and I do notice that all of these are held in New Delhi. It shows that though Mumbai is the financial capital and a major centre for gold market in India, the directions of gold policy have been and wil
Jan 15, 2002
India and Globalisation
This is a truly momentous occasion in the life of this Institute, its students, its teachers, and its friends. Let me begin by conveying my heartiest congratulations to the students who are receiving their degrees today. For all of them, it is a culmination of years of hard work, and a recognition of their high academic merit. All the teachers of this great Institute, who have put in so much time and effort to make this day possible, also deserve our gratitude. I woul
Dr. Bimal Jalan, Governor, Reserve Bank of India
This is a truly momentous occasion in the life of this Institute, its students, its teachers, and its friends. Let me begin by conveying my heartiest congratulations to the students who are receiving their degrees today. For all of them, it is a culmination of years of hard work, and a recognition of their high academic merit. All the teachers of this great Institute, who have put in so much time and effort to make this day possible, also deserve our gratitude. I woul
Jan 14, 2002
Indian Banking and Finance: Managing New Challenges
IntroductionIn my inaugural address last year, I had indicated a vision for Indian banking in the new millennium – that of a vibrant, internationally active banking system, drawing upon its innate strengths and comparative advantages to make India a major banking centre of the world. I had pointed out then that, while it may take up to 10 or even 15 years to achieve this vision, the time to begin was now. Recent developments have only served to bring forward the urgen
Dr. Bimal Jalan, Governor, Reserve Bank of India
IntroductionIn my inaugural address last year, I had indicated a vision for Indian banking in the new millennium – that of a vibrant, internationally active banking system, drawing upon its innate strengths and comparative advantages to make India a major banking centre of the world. I had pointed out then that, while it may take up to 10 or even 15 years to achieve this vision, the time to begin was now. Recent developments have only served to bring forward the urgen
Dec 06, 2001
Knowledge Revolution and Social Development
It gives me great pleasure to deliver the inaugural address at the IX Economic Convention 2001 at the H.R. College of Commerce & Economics for more than one reason. First and the foremost, it provides me an opportunity to be amongst students who would add to the vast pool of knowledge workers that our economy commands. If this convention helps shape their future and add to their knowledge bank, I would be most happy to play my part. Second, I learnt that the annua
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India
It gives me great pleasure to deliver the inaugural address at the IX Economic Convention 2001 at the H.R. College of Commerce & Economics for more than one reason. First and the foremost, it provides me an opportunity to be amongst students who would add to the vast pool of knowledge workers that our economy commands. If this convention helps shape their future and add to their knowledge bank, I would be most happy to play my part. Second, I learnt that the annua
Nov 22, 2001
Corporate Governance
I am happy to be here today. I am happy to be here in this historic city of Hyderabad, which is known as the training capital of India and equally happy to be in this prestigious campus of Administrative Staff College of India, nationally acclaimed as a temple of learning and temple of training. I thank my good and esteemed friend Dr. E.A.S Sarma- a well-known administrator, intellectual, economist and academician for giving me this wonderful opportunity of addressing
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India
I am happy to be here today. I am happy to be here in this historic city of Hyderabad, which is known as the training capital of India and equally happy to be in this prestigious campus of Administrative Staff College of India, nationally acclaimed as a temple of learning and temple of training. I thank my good and esteemed friend Dr. E.A.S Sarma- a well-known administrator, intellectual, economist and academician for giving me this wonderful opportunity of addressing
Oct 26, 2001
Forex Markets in India: Some Thoughts
It gives me great pleasure to address this gathering of forex professionals from all over the country. Looking at the list of speakers from the central bank who have addressed this august assembly in the past, I find that you have opted for change by inviting the regulator/supervisor rather than the exchange rate policy maker and manager from RBI. Although I am not very certain as to why, may be the fact that I was on your side of the market till a few months ago migh
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India
It gives me great pleasure to address this gathering of forex professionals from all over the country. Looking at the list of speakers from the central bank who have addressed this august assembly in the past, I find that you have opted for change by inviting the regulator/supervisor rather than the exchange rate policy maker and manager from RBI. Although I am not very certain as to why, may be the fact that I was on your side of the market till a few months ago migh
Oct 03, 2001
Autonomy of the Central Bank : Changing Contours in India
Dear Dr. Saxena, distinguished faculty, respected visitors, and young friends, I am grateful to the organisers for giving me this opportunity to be here with you today to deliver the Second Foundation Day Lecture. The IIM, Indore has acquired a great standing and high stature within a short span of four years and the entire credit should go to the support rendered by all, and in particular, the devotion and dedication displayed by the faculty and students to academic
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Dear Dr. Saxena, distinguished faculty, respected visitors, and young friends, I am grateful to the organisers for giving me this opportunity to be here with you today to deliver the Second Foundation Day Lecture. The IIM, Indore has acquired a great standing and high stature within a short span of four years and the entire credit should go to the support rendered by all, and in particular, the devotion and dedication displayed by the faculty and students to academic
Sep 05, 2001
Reviving Confidence in the Indian Economy
Respected Vice-Chancellor, Professor Rama Rao, distinguished academics and friends, At the outset, I would like to express my grateful thanks to Professor Rama Rao garu for giving me the privilege and honour of delivering the first Dr. S. Radhakrishnan Memorial Lecture sponsored by the University Grants Commission and being organised by the University of Hyderabad on the occasion of the Teachers’ Days this year. So much has been written and said about Dr. Sarvepalli R
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Respected Vice-Chancellor, Professor Rama Rao, distinguished academics and friends, At the outset, I would like to express my grateful thanks to Professor Rama Rao garu for giving me the privilege and honour of delivering the first Dr. S. Radhakrishnan Memorial Lecture sponsored by the University Grants Commission and being organised by the University of Hyderabad on the occasion of the Teachers’ Days this year. So much has been written and said about Dr. Sarvepalli R
Aug 28, 2001
Communication Policy of the Reserve Bank of India
Mr. Green, Mr. Weetman, Mr. New and friends, I am thankful to the organisers and in particular Mr. New for giving me the honour of participating in the 150th anniversary celebrations of the Reuters Group. In all innocence, I accepted the invitation only soon to realise that there is no free lunch or free dinner in this world. I am assigned the task of inaugurating the evening and addressing the guests on this occasion. I pleaded for some draft from Reuters, though inf
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Green, Mr. Weetman, Mr. New and friends, I am thankful to the organisers and in particular Mr. New for giving me the honour of participating in the 150th anniversary celebrations of the Reuters Group. In all innocence, I accepted the invitation only soon to realise that there is no free lunch or free dinner in this world. I am assigned the task of inaugurating the evening and addressing the guests on this occasion. I pleaded for some draft from Reuters, though inf
Jul 17, 2001
Fiscal Transparency and Beyond
Mr. Chairman and friends, It has always been an extremely productive venture for me to visit Indian Merchants Chamber and interact with the gathering. The subject chosen today has special relevance at this juncture for several reasons. The Reserve Bank of India (RBI) has released a Report on Fiscal Transparency a few weeks ago and it is necessary to view it and debate it in the context of fiscal challenges and their linkages with monetary policy. The Fiscal Responsibi
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman and friends, It has always been an extremely productive venture for me to visit Indian Merchants Chamber and interact with the gathering. The subject chosen today has special relevance at this juncture for several reasons. The Reserve Bank of India (RBI) has released a Report on Fiscal Transparency a few weeks ago and it is necessary to view it and debate it in the context of fiscal challenges and their linkages with monetary policy. The Fiscal Responsibi
Jun 29, 2001
Issues in Implementing International Financial Standards and Codes
Governor Jayawardena, Deputy Governor Wijewardena and friends, It gives me great pleasure to deliver this public lecture at the Centre for Banking Studies (CBS) of the Central Bank of Sri Lanka. It gives me greater pleasure to share the podium with Governor Jayawardena whom I greatly admire for his intellect, acumen and outstanding statesmanship. The last time I shared the same forum with him was at the Second South Asia Forex Dealers Association Conference at Hydera
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Governor Jayawardena, Deputy Governor Wijewardena and friends, It gives me great pleasure to deliver this public lecture at the Centre for Banking Studies (CBS) of the Central Bank of Sri Lanka. It gives me greater pleasure to share the podium with Governor Jayawardena whom I greatly admire for his intellect, acumen and outstanding statesmanship. The last time I shared the same forum with him was at the Second South Asia Forex Dealers Association Conference at Hydera
May 19, 2001
Globalisation and Challenges for South Asia
Mr. Chairman and friends, At the outset, I would like to pay homage to the memory of late Bishweshwar Prasad Koirala who dedicated his life to the cause of democracy, liberty, social justice and human rights. His distinguished contemporaries respectfully but affectionately described him as 'BP' and as Mr. P.V. Narasimha Rao, one of our Prime Ministers mentioned : 'BP belonged, in the truest sense, to both our peoples of India as well as of Nepal'. Another Prime Minist
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman and friends, At the outset, I would like to pay homage to the memory of late Bishweshwar Prasad Koirala who dedicated his life to the cause of democracy, liberty, social justice and human rights. His distinguished contemporaries respectfully but affectionately described him as 'BP' and as Mr. P.V. Narasimha Rao, one of our Prime Ministers mentioned : 'BP belonged, in the truest sense, to both our peoples of India as well as of Nepal'. Another Prime Minist
Apr 27, 2001
Indian Agriculture and Reform : Concerns, Issues and Agenda
Professor Parthasarathy garu, Vice Chancellor Radhakrishna, Prof Sathyanarayana and friends. I am honoured by the fact that you have invited me to deliver the Presidential address. When the organisers first spoke to me about this lecture, I humbly submitted to Professor Parthasarathy that, in the past, many eminent personalities like Governor, Dr. Rangarajan, Professor G.S. Bhalla, Professor Vyas, Dr. K. Subba Rao and Professor Radhakrishna had delivered this address
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Professor Parthasarathy garu, Vice Chancellor Radhakrishna, Prof Sathyanarayana and friends. I am honoured by the fact that you have invited me to deliver the Presidential address. When the organisers first spoke to me about this lecture, I humbly submitted to Professor Parthasarathy that, in the past, many eminent personalities like Governor, Dr. Rangarajan, Professor G.S. Bhalla, Professor Vyas, Dr. K. Subba Rao and Professor Radhakrishna had delivered this address
Mar 19, 2001
Financial Sector Reforms : An Update
Mr. Kohli, Mr. Krishnamurthy and friends, I am happy to be here again in this gathering of friends in the banking community on the occasion of the annual general meeting of the Indian Banks Association and Bankers Sports Board. I feel that it is more an occasion to conduct focussed business and celebrate rather than one to deliberate on policy issues. Yet as per tradition, I believe that there has to be an address by the chief guest. As a central banker, one always
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Kohli, Mr. Krishnamurthy and friends, I am happy to be here again in this gathering of friends in the banking community on the occasion of the annual general meeting of the Indian Banks Association and Bankers Sports Board. I feel that it is more an occasion to conduct focussed business and celebrate rather than one to deliberate on policy issues. Yet as per tradition, I believe that there has to be an address by the chief guest. As a central banker, one always
Mar 15, 2001
Implementation of Financial Standards and Codes: Indian Perspective and Approach
In this paper it is proposed to describe the Indian perspective and approach in regard to the implementation of international financial standards and codes advocated by the Financial Stability Forum(FSF). The Indian efforts in this direction also seek to complement and support the ongoing initiatives of the G-20 aimed at encouraging implementation of standards and codes among member countries.The paper is schematized as follows. Section I explains Indias stand on glo
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
In this paper it is proposed to describe the Indian perspective and approach in regard to the implementation of international financial standards and codes advocated by the Financial Stability Forum(FSF). The Indian efforts in this direction also seek to complement and support the ongoing initiatives of the G-20 aimed at encouraging implementation of standards and codes among member countries.The paper is schematized as follows. Section I explains Indias stand on glo
Feb 09, 2001
Central Banking in the New Millennium*
Mr. Chairman Kohli, Mr. Narang and friends. I am happy to be here among bank economists to deliver the customary valedictory address of the Bank Economists Conference. I find that the subject chosen for this year is very broad and relates to the whole of the banking sector. I carefully read the papers presented at the Conference and I find the coverage to be comprehensive and analysis insightful as usual. The current year's Conference also had the benefit of special p
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman Kohli, Mr. Narang and friends. I am happy to be here among bank economists to deliver the customary valedictory address of the Bank Economists Conference. I find that the subject chosen for this year is very broad and relates to the whole of the banking sector. I carefully read the papers presented at the Conference and I find the coverage to be comprehensive and analysis insightful as usual. The current year's Conference also had the benefit of special p
Jan 15, 2001
"Indias Economy in the Twenty-First Century: A New Beginning or A False Dawn"
I am grateful to Dr. Kapila Vatsayayan and Shri N.N. Vohra for inviting me to deliver the Dr. C.D.Deshmukh Memorial Lecture today. This annual Lecture in memory of one of Indias most distinguished thinkers and policy makers is a highly prestigious occasion, and one of the highlights of the India International Centre (IIC) calendar of events. When I was first asked, I must confess that I was reluctant as I was not sure whether matters which dominate my professional li
Dr. Bimal Jalan, Governor, Reserve Bank of India
I am grateful to Dr. Kapila Vatsayayan and Shri N.N. Vohra for inviting me to deliver the Dr. C.D.Deshmukh Memorial Lecture today. This annual Lecture in memory of one of Indias most distinguished thinkers and policy makers is a highly prestigious occasion, and one of the highlights of the India International Centre (IIC) calendar of events. When I was first asked, I must confess that I was reluctant as I was not sure whether matters which dominate my professional li
Dec 07, 2000
Summary of the Welcome Remarks by Dr.Bimal Jalan, Governor, at the 11th C.D. Deshmukh Memorial Lecture
On behalf of the Reserve Bank of India and myself, I am very happy to welcome Professor Charles Goodhart to Mumbai to deliver the Eleventh C.D. Deshmukh Memorial Lecture. Prof. Goodhart’s work, both as a Central Banker and as an economic thinker, is well known and he hardly needs any introduction before this audience. Educated at Cambridge and Harvard Universities, he has held several high academic positions, and is at present the Norman Sosnow Profesor of Banking and
Dr. Bimal Jalan, Governor, Reserve Bank of India
On behalf of the Reserve Bank of India and myself, I am very happy to welcome Professor Charles Goodhart to Mumbai to deliver the Eleventh C.D. Deshmukh Memorial Lecture. Prof. Goodhart’s work, both as a Central Banker and as an economic thinker, is well known and he hardly needs any introduction before this audience. Educated at Cambridge and Harvard Universities, he has held several high academic positions, and is at present the Norman Sosnow Profesor of Banking and
Nov 24, 2000
Pension System in India : A Central Bankers Perspective
Mr. Chairman and friends, At the outset I wish to compliment the Asian Development Bank Institute and others who are sponsoring this policy Conference. The Conference is rightly addressing the policy issues as well as practical skills involved in examining and improving the pension systems in South Asian countries. The approach of enabling of sharing of experiences and views among South Asian countries and, with multilateral institutions is commendable. My comments to
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman and friends, At the outset I wish to compliment the Asian Development Bank Institute and others who are sponsoring this policy Conference. The Conference is rightly addressing the policy issues as well as practical skills involved in examining and improving the pension systems in South Asian countries. The approach of enabling of sharing of experiences and views among South Asian countries and, with multilateral institutions is commendable. My comments to
Nov 24, 2000
Fiscal Reforms at State-level : Review and Prospects
Mr. Chairman and friends, I must compliment the organisers of this conclave for choosing a subject of vital importance to our economy and society and, making excellent arrangements for a comprehensive but focussed discussion. This is a good opportunity to present Reserve Bank of India’s (RBI) perspectives on fiscal reforms at State level. The presentation is divided into five parts, viz. role of RBI in the State finances; review of fiscal reform effort; changing role
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman and friends, I must compliment the organisers of this conclave for choosing a subject of vital importance to our economy and society and, making excellent arrangements for a comprehensive but focussed discussion. This is a good opportunity to present Reserve Bank of India’s (RBI) perspectives on fiscal reforms at State level. The presentation is divided into five parts, viz. role of RBI in the State finances; review of fiscal reform effort; changing role
Oct 30, 2000
Indian Economy : 1950; 2000; 2020
Friends, I have many reasons for being delighted to be participating in the Swarna Mahotsavam of Vivek Vardhini College. I must appreciate the persuasive skills of Principal Dr. Pushpavathi for bringing me here. Being a Hyderabadi, I have several distinguished colleagues and friends who are faculty and alumni of Vivek Vardhini College. The founding fathers of Vivek Vardhini were real visionaries who were pioneers in projecting a genuine Indian slant to education; we m
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Friends, I have many reasons for being delighted to be participating in the Swarna Mahotsavam of Vivek Vardhini College. I must appreciate the persuasive skills of Principal Dr. Pushpavathi for bringing me here. Being a Hyderabadi, I have several distinguished colleagues and friends who are faculty and alumni of Vivek Vardhini College. The founding fathers of Vivek Vardhini were real visionaries who were pioneers in projecting a genuine Indian slant to education; we m
Jul 13, 2000
Capital Flows and Self Reliance Redefined
Mr. President and friends, I consider it a great privilege and an honour to be invited to deliver the 27th Frank Moraes Memorial Lecture. While I did not have the privilege of meeting Mr. Frank Moraes, I am an admirer of his writings, which are at once, objective, informative, illuminating, and inspiring. I must compliment the United Writers Association for keeping alive his memory in a befitting manner. I must also compliment the organisers for their tradition of inv
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. President and friends, I consider it a great privilege and an honour to be invited to deliver the 27th Frank Moraes Memorial Lecture. While I did not have the privilege of meeting Mr. Frank Moraes, I am an admirer of his writings, which are at once, objective, informative, illuminating, and inspiring. I must compliment the United Writers Association for keeping alive his memory in a befitting manner. I must also compliment the organisers for their tradition of inv
Jul 08, 2000
Analysing Economic Policy and Sourcing Reserve Bank of India
Friends, I have great pleasure in being with you today to share some thoughts relating to analysis of economic policy, and I am thankful to respected journalist Shri Potturi Venkateswara Rao Garu for giving me this opportunity. It is a memorable day for me to share the podium with our Chief Minister, Shri Chandrababu Naidu garu. We have known each other closely for about two decades and have subsisting regard and affection for each other. He has changed the mindset of
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Friends, I have great pleasure in being with you today to share some thoughts relating to analysis of economic policy, and I am thankful to respected journalist Shri Potturi Venkateswara Rao Garu for giving me this opportunity. It is a memorable day for me to share the podium with our Chief Minister, Shri Chandrababu Naidu garu. We have known each other closely for about two decades and have subsisting regard and affection for each other. He has changed the mindset of
Jun 24, 2000
Issues in Managing Capital Account Liberalisation
The objectives of this presentation are:(i) To suggest the need of some of the developing countries for managing capital account, implying elements of control, regulation and liberalisation as appropriate.(ii) to emphasise the importance of both international and national context in the management of capital account.(iii) to outline the contours of control and regulatory framework and the possible use of these in prioritising capital flows while suggesting the dynamic
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
The objectives of this presentation are:(i) To suggest the need of some of the developing countries for managing capital account, implying elements of control, regulation and liberalisation as appropriate.(ii) to emphasise the importance of both international and national context in the management of capital account.(iii) to outline the contours of control and regulatory framework and the possible use of these in prioritising capital flows while suggesting the dynamic
Jun 22, 2000
Operationalising Capital Account Liberalisation : Indian Experience
The objective of this paper is to narrate the Indian experience in operationalising capital account liberalisation. At the outset, the Indian context is described followed by a brief account of the factors that triggered the process of liberalisation in the nineties. The policy framework that governed liberalisation, the process of liberalisation and the current framework of controls are then explained. Subsequent sections describe the management of capital account a
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
The objective of this paper is to narrate the Indian experience in operationalising capital account liberalisation. At the outset, the Indian context is described followed by a brief account of the factors that triggered the process of liberalisation in the nineties. The policy framework that governed liberalisation, the process of liberalisation and the current framework of controls are then explained. Subsequent sections describe the management of capital account a
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
May 05, 2000
Pro-Poor Growth: New Realities and Emerging Questions
Friends, I am thankful to the organisers for inviting me to participate in this Seminar. The document of the Asian Development Bank (ADB) on the subject is very comprehensive and incisive. It is difficult to add much to it so far as strategies outlined therein are concerned. There are, however, some new realities, especially due to compulsions of globalisation and technological progress that impinge on policies relating to poverty alleviation. Similarly, the changing
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Friends, I am thankful to the organisers for inviting me to participate in this Seminar. The document of the Asian Development Bank (ADB) on the subject is very comprehensive and incisive. It is difficult to add much to it so far as strategies outlined therein are concerned. There are, however, some new realities, especially due to compulsions of globalisation and technological progress that impinge on policies relating to poverty alleviation. Similarly, the changing
Mar 18, 2000
Bretton Woods Institutions In 2000
Respected Narasimham garu, Professor Radhakrishna and friends, I am thankful to the organisers for giving me the honour and privilege of delivering the Dr. V.S. Krishna Memorial lecture. Dr. Krishna, a Professor of Economics in this University was chosen by Pandit Jawaharlal Nehru to succeed Dr. C.D. Deshmukh as the Chairman of University Grants Commission in 1961. Unfortunately his untimely death soon after he assumed charge deprived the nation of his services. His v
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Respected Narasimham garu, Professor Radhakrishna and friends, I am thankful to the organisers for giving me the honour and privilege of delivering the Dr. V.S. Krishna Memorial lecture. Dr. Krishna, a Professor of Economics in this University was chosen by Pandit Jawaharlal Nehru to succeed Dr. C.D. Deshmukh as the Chairman of University Grants Commission in 1961. Unfortunately his untimely death soon after he assumed charge deprived the nation of his services. His v
Feb 25, 2000
Monetary and Fiscal Policy, and Poverty, andPublic Policy: What is New ?
Professor Raja Chelliah, Professor Govinda Rao, and distinguished participants. I am thankful to Professor Rao for giving me the privilege of being part of this distinguished gathering assembled to honour Professor Chelliah. Papers presented in the seminar covered a wide spectrum of theory and practice; analysed a broad range of topics, from inter-governmental issues to poverty alleviation schemes and brought to bear varying experiences of landlocked Nepal, island eco
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Professor Raja Chelliah, Professor Govinda Rao, and distinguished participants. I am thankful to Professor Rao for giving me the privilege of being part of this distinguished gathering assembled to honour Professor Chelliah. Papers presented in the seminar covered a wide spectrum of theory and practice; analysed a broad range of topics, from inter-governmental issues to poverty alleviation schemes and brought to bear varying experiences of landlocked Nepal, island eco
Feb 15, 2000
Legislation on Fiscal Responsibility and Reserve Banks Role : Some Issues
Mr. Chairman and friends, I am thankful to Mr. Mathur for giving me this opportunity to participate in this workshop. Mr. Mathurs letter of invitation stated that "In India there is an urgent need for improved management of national finances", and Reserve Bank of India has been advocating fiscal prudence, especially since the reform process started about a decade ago. The subject is vast and complex, and in this speech, the issues relevant for a legislation on fiscal
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman and friends, I am thankful to Mr. Mathur for giving me this opportunity to participate in this workshop. Mr. Mathurs letter of invitation stated that "In India there is an urgent need for improved management of national finances", and Reserve Bank of India has been advocating fiscal prudence, especially since the reform process started about a decade ago. The subject is vast and complex, and in this speech, the issues relevant for a legislation on fiscal
Dec 06, 1999
Finance and Development Which Way Now?
The Annual Foundation Lecture of this famous College is an important event in our countrys academic calendar. Several of our most distinguished economists, public administrators and thinkers have shared their thoughts with you on this occasion. I feel privileged to have been invited to deliver this years lecture. My happiness in being able to join you today has been immeasurably enhanced by the presence of Shri M. Narasimham at this function. Shri Narasimhams subst
Dr. Bimal Jalan, Governor, Reserve Bank of India
The Annual Foundation Lecture of this famous College is an important event in our countrys academic calendar. Several of our most distinguished economists, public administrators and thinkers have shared their thoughts with you on this occasion. I feel privileged to have been invited to deliver this years lecture. My happiness in being able to join you today has been immeasurably enhanced by the presence of Shri M. Narasimham at this function. Shri Narasimhams subst
Sep 08, 1999
State and Market: Altering the Boundaries and Emerging New Balances
Chairman Mr. Swaminatha Reddy, Mr. Rao and Mr. Srinivasan, I am delighted to be here among many affectionate friends. I am thankful to my college-mate, batch-mate, cadre-mate and a very affectionate friend, V.K. Srinivasan for giving me this opportunity. The Chairman, Mr. Reddy, has given an excellent overview of what I intend covering in this address today viz., the changing contours of borders between State and market.The altering of the boundaries between State and
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Chairman Mr. Swaminatha Reddy, Mr. Rao and Mr. Srinivasan, I am delighted to be here among many affectionate friends. I am thankful to my college-mate, batch-mate, cadre-mate and a very affectionate friend, V.K. Srinivasan for giving me this opportunity. The Chairman, Mr. Reddy, has given an excellent overview of what I intend covering in this address today viz., the changing contours of borders between State and market.The altering of the boundaries between State and
Jun 11, 1999
External Debt Policies in Emerging Economies : New Dimensions
Mr. Chairman and friends,At the outset, I would like to express my gratitude to Dr.Shanker Acharya, Mr.Ravi Mohan and Mr.Sanjay Kathuria, who gave me an opportunity to attend this seminar on Corporate External Debt Management. The deliberations have indeed been a feast and there is nothing but admiration for the outstanding organisational abilities of all concerned. There has been an ideal mix of participants and subjects. In the previous Seminar on external debt at
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman and friends,At the outset, I would like to express my gratitude to Dr.Shanker Acharya, Mr.Ravi Mohan and Mr.Sanjay Kathuria, who gave me an opportunity to attend this seminar on Corporate External Debt Management. The deliberations have indeed been a feast and there is nothing but admiration for the outstanding organisational abilities of all concerned. There has been an ideal mix of participants and subjects. In the previous Seminar on external debt at
Feb 20, 1999
Euro and its Implications for India
Mr.Singh and friends, It gives me great pleasure to deliver the keynote address at this seminar today. True, a lot has already been said and done on Euro and it is not easy to be original or innovative or even funny on a subject like this at this stage. But, Euro as a subject is of great contemporary relevance to all of us. So, we have to keep revisiting it. In any case, when my senior colleague and good friend Mr.R.V.Gupta asked me to deliver this address, I could no
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr.Singh and friends, It gives me great pleasure to deliver the keynote address at this seminar today. True, a lot has already been said and done on Euro and it is not easy to be original or innovative or even funny on a subject like this at this stage. But, Euro as a subject is of great contemporary relevance to all of us. So, we have to keep revisiting it. In any case, when my senior colleague and good friend Mr.R.V.Gupta asked me to deliver this address, I could no
Dec 16, 1998
TOWARDS A MORE VIBRANT BANKING SYSTEM
Inaugural AddressByBIMAL JALANGovernor, Reserve Bank of India At the Bank Economists Conference (BECON98) Held at Bangalore On 16-12-1998 Towards A More Vibrant Banking SystemBimal Jalan IntroductionI am happy to join this special gathering of bankers and deliver the inaugural address to the conference of bank economists . This year's meeting of bank economists is particularly important as it is being held against the background of one of the worst meltdowns of finan
Dr. Bimal Jalan, Governor, Reserve Bank of India
Inaugural AddressByBIMAL JALANGovernor, Reserve Bank of India At the Bank Economists Conference (BECON98) Held at Bangalore On 16-12-1998 Towards A More Vibrant Banking SystemBimal Jalan IntroductionI am happy to join this special gathering of bankers and deliver the inaugural address to the conference of bank economists . This year's meeting of bank economists is particularly important as it is being held against the background of one of the worst meltdowns of finan
Dec 04, 1998
Restructuring of the Public Finances and Macro-economic Stability
Mr. Chairman and friends,This meeting has been convened to solicit views on one of the specific references to the Eleventh Finance Commission, viz., means by which the Union (or Centre) and the States may bring about restructuring of the public finances so as to restore the budgetary balance and maintain macro-economic stability. I will, therefore, confine myself to this theme, in the context of reform process under way. I will, first, describe what may be called the
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman and friends,This meeting has been convened to solicit views on one of the specific references to the Eleventh Finance Commission, viz., means by which the Union (or Centre) and the States may bring about restructuring of the public finances so as to restore the budgetary balance and maintain macro-economic stability. I will, therefore, confine myself to this theme, in the context of reform process under way. I will, first, describe what may be called the
Sep 19, 1998
Management Challenges for the Next Century
It is a privilege to be in the midst of this distinguished gathering to deliver the valedictory address to the National Management Convention this evening. This is the Silver Jubilee year of this Convention, and represents an important event in the history of the All India Management Association. It is a fitting tribute to the Silver Jubilee year that this convention is devoted to such an important theme as strategies for strengthening competitiveness of Indian econom
Dr. Bimal Jalan, Governor, Reserve Bank of India
It is a privilege to be in the midst of this distinguished gathering to deliver the valedictory address to the National Management Convention this evening. This is the Silver Jubilee year of this Convention, and represents an important event in the history of the All India Management Association. It is a fitting tribute to the Silver Jubilee year that this convention is devoted to such an important theme as strategies for strengthening competitiveness of Indian econom
Aug 14, 1998
Indian Economy: A Retrospect and Prospects
Friends, Coming to Tirupati is like a journey down memory lane for me. I belong to a village nearby though in Cuddapah district, studied what was known then as Intermediate Course in Sri Venkateswara University and worked for several years on development of the Rayalaseema region. I served in Chittoor, your district as Secretary, Zilla Parishad in 1967. So, for more than one reason, I am grateful to the organisers for giving me this opportunity to be with you, in a ga
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Friends, Coming to Tirupati is like a journey down memory lane for me. I belong to a village nearby though in Cuddapah district, studied what was known then as Intermediate Course in Sri Venkateswara University and worked for several years on development of the Rayalaseema region. I served in Chittoor, your district as Secretary, Zilla Parishad in 1967. So, for more than one reason, I am grateful to the organisers for giving me this opportunity to be with you, in a ga
Jul 17, 1998
India among the leaders of 21st century: Fifth L.K. Jha Memorial Lecture
Mr. Governor, relatives of the late Mr. L.K. Jha, ladies and gentlemen : Dangerous, often fatal, is the prophet's calling. Most are put to death. That was nearly UNCTAD's fate a couple of years ago. The few survivors of the lynch mob usually succumb to one of two evils. The first is the ugly sin of Schadenfreude, that is, rejoicing in other people's misfortune. The second is the loss of face they suffer when their predictions do not come true. Things have worsened so
Mr. Rubens Ricupero, Secretary-General of UNCTAD
Mr. Governor, relatives of the late Mr. L.K. Jha, ladies and gentlemen : Dangerous, often fatal, is the prophet's calling. Most are put to death. That was nearly UNCTAD's fate a couple of years ago. The few survivors of the lynch mob usually succumb to one of two evils. The first is the ugly sin of Schadenfreude, that is, rejoicing in other people's misfortune. The second is the loss of face they suffer when their predictions do not come true. Things have worsened so
May 08, 1998
Science, Technology and Development: Sir Vithal N. Chandavarkar Memorial Lecture
I am grateful to the Indian Institute of Science, unique Institute committed to advanced research and education on Science and Technology for asking me to deliver this lecture in the memory of Sir Vithal N. Chandravarkar. As a non-scientist, I feel specially privileged to be invited to address this distinguished audience in this famous institution. Sir Vithal Chandravarkar, a barrister by profession, was a towering personality in Indian public life. The University of
Dr. Bimal Jalan, Governor, Reserve Bank of India
I am grateful to the Indian Institute of Science, unique Institute committed to advanced research and education on Science and Technology for asking me to deliver this lecture in the memory of Sir Vithal N. Chandravarkar. As a non-scientist, I feel specially privileged to be invited to address this distinguished audience in this famous institution. Sir Vithal Chandravarkar, a barrister by profession, was a towering personality in Indian public life. The University of
May 01, 1998
Asian Crisis: Asking Right Questions
Mr. Chairman and Friends, I am grateful to the organisers for giving me this opportunity to be with you and, derive the benefit of interaction, with a set of distinguished and knowledgeable people. The Asian crisis has been a matter of wide debate, and I doubt whether much new light can be shed on it. At the same time, I wonder whether many of us have been able to fully comprehend the causes, cure or consequences of the crisis. Perhaps one useful way of crystallising
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Mr. Chairman and Friends, I am grateful to the organisers for giving me this opportunity to be with you and, derive the benefit of interaction, with a set of distinguished and knowledgeable people. The Asian crisis has been a matter of wide debate, and I doubt whether much new light can be shed on it. At the same time, I wonder whether many of us have been able to fully comprehend the causes, cure or consequences of the crisis. Perhaps one useful way of crystallising
Dec 29, 1997
Economists and Public Policy
Y.V. ReddyI deem it as a great honour to be here to deliver this valedictory address. I am grateful to innumerable friends of my alma mater, Osmania University, and in particular Vice Chancellor Ramakistayya, who have so kindly given me this opportunity. My association with Osmania University dates back to August 1960, with registration as a full time researcher for Ph.D. Later, as a lecturer in this campus, I learnt a lot before joining the Administrative Service in
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Y.V. ReddyI deem it as a great honour to be here to deliver this valedictory address. I am grateful to innumerable friends of my alma mater, Osmania University, and in particular Vice Chancellor Ramakistayya, who have so kindly given me this opportunity. My association with Osmania University dates back to August 1960, with registration as a full time researcher for Ph.D. Later, as a lecturer in this campus, I learnt a lot before joining the Administrative Service in
Nov 18, 1997
External Debt and Economic Reform, Seminar on New Opportunities in Global Finance
External Debt and Economic Reform by Dr. Y.V. Reddy, Deputy Governor, Reserve Bank of India, Seminar on New Opportunities in Global Finance sponsored by Greater Mysore Chamber of Industry Bangalore Management Association Institute of Internal Auditors - India Rotary Club of Bangalore Mr. Chairman and Friends, I am thankful to the organisers of this conference and Mr. Biswas of the Reserve Bank of India (RBI), for giving me this opportunity to be with you. For some of
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
External Debt and Economic Reform by Dr. Y.V. Reddy, Deputy Governor, Reserve Bank of India, Seminar on New Opportunities in Global Finance sponsored by Greater Mysore Chamber of Industry Bangalore Management Association Institute of Internal Auditors - India Rotary Club of Bangalore Mr. Chairman and Friends, I am thankful to the organisers of this conference and Mr. Biswas of the Reserve Bank of India (RBI), for giving me this opportunity to be with you. For some of
Nov 14, 1997
Financial Sector Reforms and RBI's Balance Sheet Management
Financial Sector Reforms and RBI's Balance Sheet Management by Dr. Y.V. Reddy, Deputy Governor, Reserve Bank of India, Mumbai. The Vysya Bank 11th Annual Lecture on Banking at Bangalore on November 14, 1997 Chairman Shri Ramamoorthy and friends. I am pleased to deliver the 11th Annual Lecture of Vysya Bank. In fact, this assignment gave me an opportunity to study and reflect on the subject in the light of my recent experience in handling this subject in the Reserve Ba
Dr. Y. V. Reddy, Deputy Governor, Reserve Bank of India
Financial Sector Reforms and RBI's Balance Sheet Management by Dr. Y.V. Reddy, Deputy Governor, Reserve Bank of India, Mumbai. The Vysya Bank 11th Annual Lecture on Banking at Bangalore on November 14, 1997 Chairman Shri Ramamoorthy and friends. I am pleased to deliver the 11th Annual Lecture of Vysya Bank. In fact, this assignment gave me an opportunity to study and reflect on the subject in the light of my recent experience in handling this subject in the Reserve Ba
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