Speeches - RBI - Reserve Bank of India
Speeches & Media Interactions
Monetary Policy Statement by Shri Shaktikanta Das, RBI Governor August 08, 2024
Speeches
Sep 28, 2011
Indian Economy: Progress and Prospects
It is an honour and privilege for me to be speaking at Harvard to such a distinguished audience. I thank Professor Benjamin Friedman and Professor Tarun Khanna for this opportunity. I will be speaking on the Indian Economy. India is home to 1.21 billion people, which is about 17.4 per cent of the global population. However, it accounts for only 2.4 per cent of world GDP in US dollar terms and 5.5 per cent in purchasing power parity (ppp) terms. Hence, there exists a h
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
It is an honour and privilege for me to be speaking at Harvard to such a distinguished audience. I thank Professor Benjamin Friedman and Professor Tarun Khanna for this opportunity. I will be speaking on the Indian Economy. India is home to 1.21 billion people, which is about 17.4 per cent of the global population. However, it accounts for only 2.4 per cent of world GDP in US dollar terms and 5.5 per cent in purchasing power parity (ppp) terms. Hence, there exists a h
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Sep 27, 2011
Monetary Policy Dilemmas: Some RBI Perspectives
I value this opportunity of speaking at the Stern School to an academic community interested in central bank issues. Over the last decade, the profile of central banks has gone up. First, we had the Great Moderation - a period of extraordinary benign macroeconomic environment globally, characterized by steady growth in advanced economies and accelerated growth in emerging economies, and low and stable inflation all around. Central banks took credit for this, believed
Dr. D. Subbarao, Governor, Reserve Bank of India
I value this opportunity of speaking at the Stern School to an academic community interested in central bank issues. Over the last decade, the profile of central banks has gone up. First, we had the Great Moderation - a period of extraordinary benign macroeconomic environment globally, characterized by steady growth in advanced economies and accelerated growth in emerging economies, and low and stable inflation all around. Central banks took credit for this, believed
Sep 24, 2011
Intervention by Dr. D. Subbarao, Governor, Reserve Bank of India at IMF Meeting on September 23, 2011
The messages that we heard are sharp, specific and candid. If I were asked to pick the headline message of the presentation, it is that we are rapidly running out of time, and may therefore be running out of solutions. 2. The two big flashpoints are: renewed anxiety in the US about recession, and the deepening of the sovereign debt crisis in the Euro area. Each is by itself a big risk, but the bigger risk is that both could materialize simultaneously, and interact wit
Dr. D. Subbarao, Governor, Reserve Bank of India
The messages that we heard are sharp, specific and candid. If I were asked to pick the headline message of the presentation, it is that we are rapidly running out of time, and may therefore be running out of solutions. 2. The two big flashpoints are: renewed anxiety in the US about recession, and the deepening of the sovereign debt crisis in the Euro area. Each is by itself a big risk, but the bigger risk is that both could materialize simultaneously, and interact wit
Sep 22, 2011
Impact of Global Financial Crisis on Financial Consumers – Global and Indian Perspective on Need for Consumer Protection – Role of Ombudsmen
Introduction Mr. Douglas Melville, Chairman INFO 2011, all the delegates attending the annual conference of INFO, Ladies and Gentlemen, It gives me immense pleasure to be here in British Columbia and particularly, Vancouver, the beautiful city and share my thoughts on a subject that has occupied centre stage ever since the global financial system has been hit by crisis leading to concerns being raised about the efficacy of laws, regulations and their implementation wi
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Introduction Mr. Douglas Melville, Chairman INFO 2011, all the delegates attending the annual conference of INFO, Ladies and Gentlemen, It gives me immense pleasure to be here in British Columbia and particularly, Vancouver, the beautiful city and share my thoughts on a subject that has occupied centre stage ever since the global financial system has been hit by crisis leading to concerns being raised about the efficacy of laws, regulations and their implementation wi
Sep 03, 2011
Towards making Right to Information Act More Meaningful
Hon’ble Information Commissioner, Shri Shailesh Gandhi, Executive Director, Union Bank of India, Shri S. S. Mundra, Secretary, Bank Depositors’ Association, Shri Ashok Rawat, Managing Editor of Moneylife Magazine, Ms. Sucheta Dalal, Ladies & Gentlemen: It gives me great pleasure to participate in this seminar which is graced by the presence of our Central Information Commissioner, Shri Shailesh Gandhi. Shri Gandhi, as we all know, is one of the pioneers who worked
Shri V.S. Das, Executive Director, Reserve Bank of India
Hon’ble Information Commissioner, Shri Shailesh Gandhi, Executive Director, Union Bank of India, Shri S. S. Mundra, Secretary, Bank Depositors’ Association, Shri Ashok Rawat, Managing Editor of Moneylife Magazine, Ms. Sucheta Dalal, Ladies & Gentlemen: It gives me great pleasure to participate in this seminar which is graced by the presence of our Central Information Commissioner, Shri Shailesh Gandhi. Shri Gandhi, as we all know, is one of the pioneers who worked
Sep 03, 2011
Monetary Policy Response to Recent Inflation in India
I thank the Indian Institute of Technology (IIT), Guwahati and Mr. Ankit Khemka, Convenor, Techniche 2011, for inviting me to address such a talented and bright group of youngsters . I propose to speak to you about inflation which is a matter of concern to all of us. It has been about two years since October 2009 that the Reserve Bank of India announced its exit from the crisis-driven accommodative monetary policy stance. However, inflation continues to remain elevate
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank the Indian Institute of Technology (IIT), Guwahati and Mr. Ankit Khemka, Convenor, Techniche 2011, for inviting me to address such a talented and bright group of youngsters . I propose to speak to you about inflation which is a matter of concern to all of us. It has been about two years since October 2009 that the Reserve Bank of India announced its exit from the crisis-driven accommodative monetary policy stance. However, inflation continues to remain elevate
Sep 02, 2011
Agricultural Productivity and Credit- Issues and Way Forward
Prof. M. S. Swaminathan, Shri A. S. Bhattacharya, CMD, Bank of Maharashtra, Ms Kamala Rajan, Principal, CAB, Shri R. L. Sharma, Vice-Principal, CAB and other members of faculty, distinguished panelists, participants, ladies and gentlemen! It is a pleasure to be here this morning for the “National Seminar on Productivity in Indian Agriculture” organized by CAB, Pune. 2. In the Indian context, the policy of self-sufficiency in food which led to Green Revolution had serv
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Prof. M. S. Swaminathan, Shri A. S. Bhattacharya, CMD, Bank of Maharashtra, Ms Kamala Rajan, Principal, CAB, Shri R. L. Sharma, Vice-Principal, CAB and other members of faculty, distinguished panelists, participants, ladies and gentlemen! It is a pleasure to be here this morning for the “National Seminar on Productivity in Indian Agriculture” organized by CAB, Pune. 2. In the Indian context, the policy of self-sufficiency in food which led to Green Revolution had serv
Aug 29, 2011
Reflections on Regulatory Challenges and Dilemmas
Good Morning. It is indeed my privilege to be addressing you today in this Conference in which officials from industry and banking sector are participating. Today, I want to reflect on some of the challenges and dilemmas that we face as regulators of the banking system. A few of these challenges and dilemmas are in the context of the rapidly evolving regulatory landscape in the aftermath of the crisis, very aptly reflected in the theme of this Conference “Global banki
Shri Anand Sinha, Deputy Governor, Reserve Bank of India
Good Morning. It is indeed my privilege to be addressing you today in this Conference in which officials from industry and banking sector are participating. Today, I want to reflect on some of the challenges and dilemmas that we face as regulators of the banking system. A few of these challenges and dilemmas are in the context of the rapidly evolving regulatory landscape in the aftermath of the crisis, very aptly reflected in the theme of this Conference “Global banki
Aug 25, 2011
Banking, electronic payments and road ahead
Distinguished Ladies and Gentlemen 1. I am glad to be in your midst today to share my thoughts on “Banking, electronic payments and the road ahead”. In fact the subject of my address very well fits the theme of the conference “Global banking: Paradigm shift” and its emphasis on productivity excellence. I am sure the experts whom you would have heard and interacted with over the last two days would have shared their thoughts on the changes and challenges that banking i
Shri Harun R Khan, Deputy Governor, Reserve Bank of India
Distinguished Ladies and Gentlemen 1. I am glad to be in your midst today to share my thoughts on “Banking, electronic payments and the road ahead”. In fact the subject of my address very well fits the theme of the conference “Global banking: Paradigm shift” and its emphasis on productivity excellence. I am sure the experts whom you would have heard and interacted with over the last two days would have shared their thoughts on the changes and challenges that banking i
Aug 23, 2011
Corporate Governance of Banks in India In Pursuit of Productivity Excellence
For the third year in a row, it is my privilege to be addressing this joint conference of FICCI and IBA. I know both corporates and banks attach a lot of value to this conference, and so does the Reserve Bank. A joint forum of FICCI and IBA is an important platform for us in the Reserve Bank to share our views on topics of current relevance with two important segments of the economy - corporates and banks - which have a vital role in, and responsibility for, driving g
Dr. D. Subbarao, Governor, Reserve Bank of India
For the third year in a row, it is my privilege to be addressing this joint conference of FICCI and IBA. I know both corporates and banks attach a lot of value to this conference, and so does the Reserve Bank. A joint forum of FICCI and IBA is an important platform for us in the Reserve Bank to share our views on topics of current relevance with two important segments of the economy - corporates and banks - which have a vital role in, and responsibility for, driving g
Aug 13, 2011
Changing Inflation Dynamics in India
I thank the Motilal Nehru National Institute of Technology (MNNIT) for giving me this opportunity to address this distinguished gathering. I propose to speak on inflation which is a matter of concern to all of us. What is inflation? Simply put, inflation is the sustained increase in the overall price level. Relative change in prices of goods and services is a desirable attribute of market economy as it reflects productivity changes as well as demand and supply conditi
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank the Motilal Nehru National Institute of Technology (MNNIT) for giving me this opportunity to address this distinguished gathering. I propose to speak on inflation which is a matter of concern to all of us. What is inflation? Simply put, inflation is the sustained increase in the overall price level. Relative change in prices of goods and services is a desirable attribute of market economy as it reflects productivity changes as well as demand and supply conditi
Aug 13, 2011
Forex market development-Issues and Challenges -Thoughts of a returning forex market regulator
Friends, 1. I am delighted to be in your midst after a long gap of a decade. The occasion brings back reminiscences of late 1990s and the early years of this century when the forex market in India was quite different from what exists today. A nascent market that it was, needed a lot of hand-holding from RBI. The Rupee was always moving down a one-way street and every bout of volatility ( plenty those days, for example, the South East Asian crisis, Nuclear sanctions, K
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Friends, 1. I am delighted to be in your midst after a long gap of a decade. The occasion brings back reminiscences of late 1990s and the early years of this century when the forex market in India was quite different from what exists today. A nascent market that it was, needed a lot of hand-holding from RBI. The Rupee was always moving down a one-way street and every bout of volatility ( plenty those days, for example, the South East Asian crisis, Nuclear sanctions, K
Aug 12, 2011
Technology in Banking- In Pursuit of Excellence
Director IDRBT, Shri B Sambamurthy, faculty members and officers of IDRBT, officials from banks, members of the selection panel, my colleagues from Reserve Bank and all the other participants. It is indeed my privilege to be present here today to honour the recipients of the banking technology awards and deliver the key note address for the 7th edition of the awards. I am grateful to IDRBT for giving me this opportunity. My heartiest congratulations to all the winners
Shri Anand Sinha, Deputy Governor, Reserve Bank of India
Director IDRBT, Shri B Sambamurthy, faculty members and officers of IDRBT, officials from banks, members of the selection panel, my colleagues from Reserve Bank and all the other participants. It is indeed my privilege to be present here today to honour the recipients of the banking technology awards and deliver the key note address for the 7th edition of the awards. I am grateful to IDRBT for giving me this opportunity. My heartiest congratulations to all the winners
Aug 12, 2011
How does the Reserve Bank of India Conduct its Monetary Policy?
I thank the Indian Institute of Management (IIM), Lucknow for inviting me to address this distinguished gathering. I do see many bright young prospective managers in the audience. As you step out of the portals of the Institute, you will be faced with the challenge of managing some or the other key aspect of our economy, be it agriculture, industry or services. This evening, let me give you a flavour of how do we manage monetary policy in the Reserve Bank of India? In
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank the Indian Institute of Management (IIM), Lucknow for inviting me to address this distinguished gathering. I do see many bright young prospective managers in the audience. As you step out of the portals of the Institute, you will be faced with the challenge of managing some or the other key aspect of our economy, be it agriculture, industry or services. This evening, let me give you a flavour of how do we manage monetary policy in the Reserve Bank of India? In
Aug 05, 2011
Indian Education System – Issues and Challenges
‘Plants are shaped by cultivation and humans by education’ Mr. Shantanu Prakash, Chairman and CEO, Educomp Solutions Ltd., Mr. Harpreet Singh, President, JRE Group of Institutions, Prof. Stephen Rawlinson, Academic President, JRE Group of Institutions, Mr. Siddharth Mukherjee, Director of Corporate Relations, Prof. Pankaj Gupta, Director, School of Management, Dr. Ramesh Agarwal, Director, JRE Group of Institutions, members of the print and electronic media, students
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
‘Plants are shaped by cultivation and humans by education’ Mr. Shantanu Prakash, Chairman and CEO, Educomp Solutions Ltd., Mr. Harpreet Singh, President, JRE Group of Institutions, Prof. Stephen Rawlinson, Academic President, JRE Group of Institutions, Mr. Siddharth Mukherjee, Director of Corporate Relations, Prof. Pankaj Gupta, Director, School of Management, Dr. Ramesh Agarwal, Director, JRE Group of Institutions, members of the print and electronic media, students
Jul 29, 2011
Secured Online Banking Vs. Customer Convenience – Opportunities and Challenges
Ladies and Gentlemen, Good morning. It is my pleasure to be here amongst all of you in the Annual conference on secure banking 2011, and share with you some of my thoughts on the subject. I thank IBA and MP TFCI, co-organizers for the event, for this opportunity. 2. Banking, as all of us know, is a business activity synonymous with Trust, and security in banking is a paramount presumption for trust. The concept and perception of such security in banking has, over a pe
Shri G Padmanabhan, Executive Director, Reserve Bank of India
Ladies and Gentlemen, Good morning. It is my pleasure to be here amongst all of you in the Annual conference on secure banking 2011, and share with you some of my thoughts on the subject. I thank IBA and MP TFCI, co-organizers for the event, for this opportunity. 2. Banking, as all of us know, is a business activity synonymous with Trust, and security in banking is a paramount presumption for trust. The concept and perception of such security in banking has, over a pe
Jul 08, 2011
Economic Reforms for Sustainable Growth
Economic Reforms for Sustainable Growth* I. Introduction It is a great pleasure and privilege for me to be speaking at the 175th Annual General Meeting of the Madras Chamber of Commerce and Industry. I have had the opportunity to speak at previous events organized by the Chamber, and also interact with committee members and the secretariat during my tenure as the chairperson of the Economic Affairs Committee of ASSOCHAM. But, this is a special occasion and I thank the
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Economic Reforms for Sustainable Growth* I. Introduction It is a great pleasure and privilege for me to be speaking at the 175th Annual General Meeting of the Madras Chamber of Commerce and Industry. I have had the opportunity to speak at previous events organized by the Chamber, and also interact with committee members and the secretariat during my tenure as the chairperson of the Economic Affairs Committee of ASSOCHAM. But, this is a special occasion and I thank the
Jul 07, 2011
Mutual Funds and Market Development in India
Mutual Funds and Market Development in India* I. Introduction Financial sector development can be viewed as a process that enhances four critical attributes of the financial system: efficiency, stability, transparency and inclusion. The emergence of intermediation mechanisms and products that help improve on one or more of these without causing others to weaken are, therefore, a meaningful indicator of financial development. From this perspective, Mutual Funds play an
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Mutual Funds and Market Development in India* I. Introduction Financial sector development can be viewed as a process that enhances four critical attributes of the financial system: efficiency, stability, transparency and inclusion. The emergence of intermediation mechanisms and products that help improve on one or more of these without causing others to weaken are, therefore, a meaningful indicator of financial development. From this perspective, Mutual Funds play an
Jul 07, 2011
Striking the Balance between Growth and Inflation in India
Striking the Balance between Growth and Inflation in India* I. Introduction The Indian economy recovered relatively quickly from the financial crisis of 2008, but inflationary pressures emerged even in the early stages of the recovery in late 2009. Over the past year and a half, the challenge for monetary policy has been to contain these inflationary pressures without disrupting the recovery. The economy grew by 8.5 per cent in the fiscal year 2010-11, which is close
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
Striking the Balance between Growth and Inflation in India* I. Introduction The Indian economy recovered relatively quickly from the financial crisis of 2008, but inflationary pressures emerged even in the early stages of the recovery in late 2009. Over the past year and a half, the challenge for monetary policy has been to contain these inflationary pressures without disrupting the recovery. The economy grew by 8.5 per cent in the fiscal year 2010-11, which is close
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