Speeches - RBI - Reserve Bank of India
Speeches & Media Interactions
Monetary Policy Statement by Shri Shaktikanta Das, RBI Governor August 08, 2024
Speeches
Apr 17, 2011
Global Challenges, Global Solutions: Some Remarks
Mr. Chairman 1. Recent experience suggests that globalization offers incredible opportunities but also poses immense challenges. If the years before the global financial crisis - the period of the so called ‘Great Moderation’ - demonstrated the benefits of globalization, the devastating toll of the crisis showed its costs. Just as in the case of an economy, there are price setters and price takers, in the international economy too, there are economies which shape the
Dr. D. Subbarao, Governor, Reserve Bank of India
Mr. Chairman 1. Recent experience suggests that globalization offers incredible opportunities but also poses immense challenges. If the years before the global financial crisis - the period of the so called ‘Great Moderation’ - demonstrated the benefits of globalization, the devastating toll of the crisis showed its costs. Just as in the case of an economy, there are price setters and price takers, in the international economy too, there are economies which shape the
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Apr 17, 2011
Statement by Mr. Duvvuri Subbarao, Governor, Reserve Bank of India at IMFC, Washington
Leader of the Indian Delegation to the International Monetary and Financial Committee Washington D.C., April 16, 2011 Mr. Chairman, 1. There have been significant developments in the global economy since we met in the fall of 2010. The IMF too has moved on several fronts under its mandate which has strengthened its position in a changing world. There are several key questions confronting us today: Is the recovery assured in the face of still turbulent financial condit
Dr. D. Subbarao, Governor, Reserve Bank of India
Leader of the Indian Delegation to the International Monetary and Financial Committee Washington D.C., April 16, 2011 Mr. Chairman, 1. There have been significant developments in the global economy since we met in the fall of 2010. The IMF too has moved on several fronts under its mandate which has strengthened its position in a changing world. There are several key questions confronting us today: Is the recovery assured in the face of still turbulent financial condit
Apr 16, 2011
The Global Economy and Framework
Chairperson, Finance Ministers and colleague Governors, 1. After its very successful efforts at a coordinated response to the challenges emerging out of the recent unprecedented global financial crisis and safeguarding the process of economic recovery, the G-20 is now turning to the more challenging task of addressing structural imbalances in the global economy. India has had the privilege of co-chairing, together with Canada, the G-20 collective effort towards drawin
Dr. D. Subbarao, Governor, Reserve Bank of India
Chairperson, Finance Ministers and colleague Governors, 1. After its very successful efforts at a coordinated response to the challenges emerging out of the recent unprecedented global financial crisis and safeguarding the process of economic recovery, the G-20 is now turning to the more challenging task of addressing structural imbalances in the global economy. India has had the privilege of co-chairing, together with Canada, the G-20 collective effort towards drawin
Apr 05, 2011
Linking Entrepreneurship with Credit- The Role of Financial System
Shri R.M. Malla, President-EDI, Members of the Governing Council, Director Dr.Dinesh Awasthi, invited dignitaries, faculty members, passing out students and their parents, members of the print and electronic media, ladies and gentlemen. It is, indeed, a pleasure to be here amongst graduating students and I am thankful to Shri Malla and the EDI for this opportunity especially when it is an opportunity to return to my home state, Gujarat. A galaxy of speakers have addre
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri R.M. Malla, President-EDI, Members of the Governing Council, Director Dr.Dinesh Awasthi, invited dignitaries, faculty members, passing out students and their parents, members of the print and electronic media, ladies and gentlemen. It is, indeed, a pleasure to be here amongst graduating students and I am thankful to Shri Malla and the EDI for this opportunity especially when it is an opportunity to return to my home state, Gujarat. A galaxy of speakers have addre
Apr 05, 2011
Sustainability of Economic Growth and Controlling Inflation: The Way Forward
It is my pleasure to speak at FICCI’s National Executive Committee Meeting this year. As many observers have been highlighting, after a relatively long phase of benign, growth-friendly macroeconomic conditions, things have begun to look somewhat hostile on the macroeconomic front. The most significant manifestation of this is the acceleration of inflation, a trend that was visible even before the impact of the financial crisis was felt in late 2008, but which very qui
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
It is my pleasure to speak at FICCI’s National Executive Committee Meeting this year. As many observers have been highlighting, after a relatively long phase of benign, growth-friendly macroeconomic conditions, things have begun to look somewhat hostile on the macroeconomic front. The most significant manifestation of this is the acceleration of inflation, a trend that was visible even before the impact of the financial crisis was felt in late 2008, but which very qui
Apr 01, 2011
Lessons for Monetary Policy from the Global Financial Crisis : An Emerging Market Perspective
The global financial crisis has challenged the conventional views on the role of monetary policy. Post-crisis, the weight of arguments tilts towards acceptance of financial stability as an objective of central bank or monetary policy. However, the key challenge is to evolve a consistent framework for implementation. While interest rate can continue as the dominant instrument for implementing monetary policy, supplementing it with other quantity or macro-prudential ins
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
The global financial crisis has challenged the conventional views on the role of monetary policy. Post-crisis, the weight of arguments tilts towards acceptance of financial stability as an objective of central bank or monetary policy. However, the key challenge is to evolve a consistent framework for implementation. While interest rate can continue as the dominant instrument for implementing monetary policy, supplementing it with other quantity or macro-prudential ins
Mar 29, 2011
Frontier Issues on the Global Agenda Emerging Economy Perspective
First of all, my thanks to the Central Bank of Sri Lanka (CBSL) and to Governor Cabraal for inviting me to deliver this commemorative oration as part of CBSL’s Diamond Jubilee celebrations. I gather that a number of distinguished people have given orations as part of this anniversary series. I am indeed honoured to add my name to that very select list. My compliments to the management and staff of CBSL on this happy and historic occasion. 2. As institutions, central b
Dr. D. Subbarao, Governor, Reserve Bank of India
First of all, my thanks to the Central Bank of Sri Lanka (CBSL) and to Governor Cabraal for inviting me to deliver this commemorative oration as part of CBSL’s Diamond Jubilee celebrations. I gather that a number of distinguished people have given orations as part of this anniversary series. I am indeed honoured to add my name to that very select list. My compliments to the management and staff of CBSL on this happy and historic occasion. 2. As institutions, central b
Mar 28, 2011
Financial Inclusion: A Consumer Centric View
I. Introduction It is a great pleasure for me to be delivering the VIth V. Narayanan Memorial Lecture. I never had the opportunity to meet Mr. Narayanan, but, from what I have heard and read about him, he was clearly a person dedicated to the mission of expanding the reach of and access to banking services in a way which benefitted both the customer and the service provider. As you may know, the financial inclusion agenda has assumed top priority in the Reserve Bank o
Dr. Subir Gokarn, Deputy Governor, Reserve Bank of India
I. Introduction It is a great pleasure for me to be delivering the VIth V. Narayanan Memorial Lecture. I never had the opportunity to meet Mr. Narayanan, but, from what I have heard and read about him, he was clearly a person dedicated to the mission of expanding the reach of and access to banking services in a way which benefitted both the customer and the service provider. As you may know, the financial inclusion agenda has assumed top priority in the Reserve Bank o
Mar 24, 2011
Economic and Financial Developments in the North-Eastern States
I thank Gauhati University for inviting me to address this distinguished gathering. The North-Eastern States (NES)1, also known as land of seven sisters, are very richly endowed. The North-Eastern region covers 5.5 per cent of the total geographical area of the country and accounts for 3.9 per cent of the national population and 2.7 per cent of all-India net domestic product (NDP). The lushness of its landscape, geographical and ecological diversity and range of commu
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
I thank Gauhati University for inviting me to address this distinguished gathering. The North-Eastern States (NES)1, also known as land of seven sisters, are very richly endowed. The North-Eastern region covers 5.5 per cent of the total geographical area of the country and accounts for 3.9 per cent of the national population and 2.7 per cent of all-India net domestic product (NDP). The lushness of its landscape, geographical and ecological diversity and range of commu
Mar 16, 2011
Banking and Beyond: New Challenges before Indian Financial System
Lord Stephen Green, Minister for Trade and Investment, UK, distinguished panelists, distinguished guests, ladies and gentlemen. First of all my thanks to Mint, Mumbai, and to my good friends Tamal and R Sukumar for inviting me to initiate today’s debate – “Banking & Beyond: New Challenges Before Indian Financial System” with a panel of luminaries on the stage. Over the years, Mint, through its Clarity Through Debate trail-blazer series has been flagging topical pu
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Lord Stephen Green, Minister for Trade and Investment, UK, distinguished panelists, distinguished guests, ladies and gentlemen. First of all my thanks to Mint, Mumbai, and to my good friends Tamal and R Sukumar for inviting me to initiate today’s debate – “Banking & Beyond: New Challenges Before Indian Financial System” with a panel of luminaries on the stage. Over the years, Mint, through its Clarity Through Debate trail-blazer series has been flagging topical pu
Feb 24, 2011
The Reserve Bank of India Making a Difference in Your Daily Life
First of all, my thanks to the Governor and Chancellor, HE Shri M.C. Bhandare, Vice Chancellor Professor Pujari, faculty and students of Sambalpur University for inviting me to be the convocation speaker this year. This is an honour to which I attach a lot of value. It feels wonderful to be in this beautiful state of Orissa and in the bustling Sambalpur area. Changes Around the World 2. All of you young graduates, passing out with degrees today, are a delightful sight
Dr. D. Subbarao, Governor, Reserve Bank of India
First of all, my thanks to the Governor and Chancellor, HE Shri M.C. Bhandare, Vice Chancellor Professor Pujari, faculty and students of Sambalpur University for inviting me to be the convocation speaker this year. This is an honour to which I attach a lot of value. It feels wonderful to be in this beautiful state of Orissa and in the bustling Sambalpur area. Changes Around the World 2. All of you young graduates, passing out with degrees today, are a delightful sight
Feb 21, 2011
Approach to Capital Account Management - Shifting Contours
1. Thank you for inviting me to this forum once again and that too in these sublime environs. Only in such sublimity could the deeply spiritual concept of “Gross National Happiness” have been crystallised into a national policy mission. The theory of Gross National Happiness (GNH) established by His Majesty the King of Bhutan in 1972, defines Bhutan’s development objective as improvement in the happiness and satisfaction of the people rather than growth of Gross Natio
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
1. Thank you for inviting me to this forum once again and that too in these sublime environs. Only in such sublimity could the deeply spiritual concept of “Gross National Happiness” have been crystallised into a national policy mission. The theory of Gross National Happiness (GNH) established by His Majesty the King of Bhutan in 1972, defines Bhutan’s development objective as improvement in the happiness and satisfaction of the people rather than growth of Gross Natio
Feb 18, 2011
Beyond CBS : Fast Forward to Banking 2.0!
Shri M V Nair, Chairman & Managing Director, Union Bank of India, Shri B Sambamurthy, Director, IDRBT, Shri S S Mundra, Executive Director, Union Bank of India, Shri M G Sanghvi, Executive Director, Bank of Maharashtra, senior bankers, other distinguished guest, ladies and gentlemen. It is a pleasure to be in your midst today at this Executive Roundtable organised by IDRBT in association with Union Bank of India on the theme “Beyond Core Banking”. As you may
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Shri M V Nair, Chairman & Managing Director, Union Bank of India, Shri B Sambamurthy, Director, IDRBT, Shri S S Mundra, Executive Director, Union Bank of India, Shri M G Sanghvi, Executive Director, Bank of Maharashtra, senior bankers, other distinguished guest, ladies and gentlemen. It is a pleasure to be in your midst today at this Executive Roundtable organised by IDRBT in association with Union Bank of India on the theme “Beyond Core Banking”. As you may
Feb 14, 2011
Introduction of IFRS- Issues and Challenges
Dr Naresh Chandra, Principal, Birla College, Former Pro Vice Chancellor, Mumbai University, Dr Shyam Agrawal, eminent eye surgeon, Shri M. M. Chitale, veteran CA and Chairman NACAS, Shri U. Venkataraman, CEO- Currency Derivatives Segment & Whole Time Director, MCX-SX, Principal of PDL College of Commerce and Economics and my dear student Dr N. N. Pandey, Prof D. M. Kadhi, Convenor, other distinguished guests, ladies and gentlemen. I am delighted to be present here
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
Dr Naresh Chandra, Principal, Birla College, Former Pro Vice Chancellor, Mumbai University, Dr Shyam Agrawal, eminent eye surgeon, Shri M. M. Chitale, veteran CA and Chairman NACAS, Shri U. Venkataraman, CEO- Currency Derivatives Segment & Whole Time Director, MCX-SX, Principal of PDL College of Commerce and Economics and my dear student Dr N. N. Pandey, Prof D. M. Kadhi, Convenor, other distinguished guests, ladies and gentlemen. I am delighted to be present here
Feb 11, 2011
Welcome Remarks by the Governor at the Third P. R. Brahmananda Memorial Lecture
I have great pleasure in welcoming Governor Stanley Fischer who will shortly be delivering the P.R. Brahmananda Memorial Lecture. A hearty welcome also to the members of the family of late Prof. Brahmananda - Shri P.R. Ramaswamy, and Smt. and Shri P.R. Vishwanath. Of course, a warm welcome to all the invitees, who have made time to come for this lecture. Prof. Brahmananda 2. Professor Brahmananda was a distinguished academic, a noted researcher and a respected teacher
Dr. D. Subbarao, Governor, Reserve Bank of India
I have great pleasure in welcoming Governor Stanley Fischer who will shortly be delivering the P.R. Brahmananda Memorial Lecture. A hearty welcome also to the members of the family of late Prof. Brahmananda - Shri P.R. Ramaswamy, and Smt. and Shri P.R. Vishwanath. Of course, a warm welcome to all the invitees, who have made time to come for this lecture. Prof. Brahmananda 2. Professor Brahmananda was a distinguished academic, a noted researcher and a respected teacher
Jan 31, 2011
Implications of the Expansion of Central Bank Balance Sheets
1. At the outset, let me congratulate the BIS for bringing out a very analytical and comprehensive paper on the subject. The topic for the session has been thrown into prominence by the experience of the recent financial crisis when many central banks were forced to adopt an expansionary stance of monetary policy. The expansion of balance sheets of central banks has important monetary and financial implications. In normal times, a central bank’s balance sheet attracts
Dr. D. Subbarao, Governor, Reserve Bank of India
1. At the outset, let me congratulate the BIS for bringing out a very analytical and comprehensive paper on the subject. The topic for the session has been thrown into prominence by the experience of the recent financial crisis when many central banks were forced to adopt an expansionary stance of monetary policy. The expansion of balance sheets of central banks has important monetary and financial implications. In normal times, a central bank’s balance sheet attracts
Jan 19, 2011
Emerging Trends in Payment Systems and Challenges
It is a pleasure and privilege to be here at the Banknet’s 7th Annual Conference on Payment Systems. The theme of today’s conference – ‘Moving to next generation payment systems & solutions’ - is fitting especially at a time when the banking industry is going through a transitional phase of broadening, deepening and strengthening the financial services available to the masses. I take this opportunity to congratulate Banknet for providing this platform for the bank
Dr. K.C. Chakrabarty, Deputy Governor, Reserve Bank of India
It is a pleasure and privilege to be here at the Banknet’s 7th Annual Conference on Payment Systems. The theme of today’s conference – ‘Moving to next generation payment systems & solutions’ - is fitting especially at a time when the banking industry is going through a transitional phase of broadening, deepening and strengthening the financial services available to the masses. I take this opportunity to congratulate Banknet for providing this platform for the bank
Jan 10, 2011
Centrality of banks in the financial system
1. I am delighted to be present here amongst you all on the occasion of the 12th Annual Conference of FIMMDA-PDAI. These conferences have over the years assumed importance in not just bringing the participants together to tally notes and network but to take a pause and reflect over the issues arising out of fast changing times. 2. I see from the agenda for the conference that the focus is on the emerging post-crisis regulatory landscape for the financial sector – Base
Smt. Shyamala Gopinath, Deputy Governor, Reserve Bank of India
1. I am delighted to be present here amongst you all on the occasion of the 12th Annual Conference of FIMMDA-PDAI. These conferences have over the years assumed importance in not just bringing the participants together to tally notes and network but to take a pause and reflect over the issues arising out of fast changing times. 2. I see from the agenda for the conference that the focus is on the emerging post-crisis regulatory landscape for the financial sector – Base
Jan 07, 2011
Dilemmas in Central Bank Communication: Some Reflections Based on Recent Experience
First of all my thanks to Business Standard, and to my good friends T.N. Ninan and Sanjaya Baru, for inviting me to deliver this second Business Standard Annual lecture. This is an honour to which I attach a lot of value. Central Bank Communication 2. As a part of my job, I accept several speaking commitments, and often I struggle to determine the topic for my speech and the key message I should be delivering. From that perspective, deciding on a topic for this lectur
Dr. D. Subbarao, Governor, Reserve Bank of India
First of all my thanks to Business Standard, and to my good friends T.N. Ninan and Sanjaya Baru, for inviting me to deliver this second Business Standard Annual lecture. This is an honour to which I attach a lot of value. Central Bank Communication 2. As a part of my job, I accept several speaking commitments, and often I struggle to determine the topic for my speech and the key message I should be delivering. From that perspective, deciding on a topic for this lectur
Dec 16, 2010
ASEM Conference on ‘Investment and its Financing: What causes private investment to remain relatively low in Asia?’
1. Mr. Peter Bekx, Director, European Commission. Mr. Subir Gokarn, Deputy Governor. Mr. Moreno Bertoldi, Head of Unit, European Commission. Ms. Valerie Rouxel-Laxton, Head of Sector, European Commission. Distinguished representatives from the ASEM member countries. Esteemed colleagues of central banks, representatives from multilateral organisations, think-tanks and academia, distinguished experts and friends. I am really privileged to have this pleasant opportunity
Shri Deepak Mohanty, Executive Director, Reserve Bank of India
1. Mr. Peter Bekx, Director, European Commission. Mr. Subir Gokarn, Deputy Governor. Mr. Moreno Bertoldi, Head of Unit, European Commission. Ms. Valerie Rouxel-Laxton, Head of Sector, European Commission. Distinguished representatives from the ASEM member countries. Esteemed colleagues of central banks, representatives from multilateral organisations, think-tanks and academia, distinguished experts and friends. I am really privileged to have this pleasant opportunity
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