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Speeches
Apr 19, 2008
The Role of Fiscal and Monetary Policies in Sustaining Growth with Stability in India
Rakesh Mohan* The performance of the Indian economy in recent years has attracted increasing international interest. This conference is therefore a timely one to take stock of what has happened and to also deepen our understanding of the policies and processes that have led to the current trends. This paper focuses on the role of fiscal and monetary policies in the evolution of the Indian economy over the years, with particular attention being given to the reforms und
Dr. Rakesh Mohan,
Deputy Governor, Reserve Bank of India
Rakesh Mohan* The performance of the Indian economy in recent years has attracted increasing international interest. This conference is therefore a timely one to take stock of what has happened and to also deepen our understanding of the policies and processes that have led to the current trends. This paper focuses on the role of fiscal and monetary policies in the evolution of the Indian economy over the years, with particular attention being given to the reforms und
Apr 17, 2008
Consolidation in the Indian Financial Sector
Dear Friends, It is my pleasure to be here with you this morning on the occasion of International Banking & Finance Conference 2008 of the Indian Merchants’ Chamber. I am grateful to the organisers for having afforded me this valuable opportunity to address this august audience and share some of my thoughts on the subject of consolidation in the Indian financial sector. The Chamber has indeed come a long way since its establishment in the pre-independence days in
Shri V. Leeladhar,
Deputy Governor, Reserve Bank of India
Dear Friends, It is my pleasure to be here with you this morning on the occasion of International Banking & Finance Conference 2008 of the Indian Merchants’ Chamber. I am grateful to the organisers for having afforded me this valuable opportunity to address this august audience and share some of my thoughts on the subject of consolidation in the Indian financial sector. The Chamber has indeed come a long way since its establishment in the pre-independence days in
Feb 28, 2008
Inclusive Growth - The Role of Banks in Emerging Economies
Ladies and Gentlemen,I am delighted to be here in Colombo and honoured by the invitation of the Central Bank of Sri Lanka to deliver this year’s ‘Independence Commemoration Lecture’. It is my proud privilege to join the illustrious list of previous speakers, who have added laurels to this prestigious lecture series. Today, I would like to share with you India’s experiences on ‘Inclusive Growth’ - a topic which is both current and close to the hearts of public policyma
Smt. Usha Thorat,
Deputy Governor, Reserve Bank of India
Ladies and Gentlemen,I am delighted to be here in Colombo and honoured by the invitation of the Central Bank of Sri Lanka to deliver this year’s ‘Independence Commemoration Lecture’. It is my proud privilege to join the illustrious list of previous speakers, who have added laurels to this prestigious lecture series. Today, I would like to share with you India’s experiences on ‘Inclusive Growth’ - a topic which is both current and close to the hearts of public policyma
Feb 01, 2008
Capital Flows to India
Rakesh Mohan* Introduction In most of the period since the mid-1990s, external sector developments in India have been marked by strong capital flows. Capital flows to India, which were earlier mainly confined to small official concessional finance, gained momentum from the 1990s after the initiation of economic reforms. Apart from increase in size, capital flows to India have undergone a compositional shift from predominantly official and private debt flows to non-deb
Dr. Rakesh Mohan,
Deputy Governor, Reserve Bank of India
Rakesh Mohan* Introduction In most of the period since the mid-1990s, external sector developments in India have been marked by strong capital flows. Capital flows to India, which were earlier mainly confined to small official concessional finance, gained momentum from the 1990s after the initiation of economic reforms. Apart from increase in size, capital flows to India have undergone a compositional shift from predominantly official and private debt flows to non-deb
Jan 03, 2008
Some Comments on Macro-Stability in Indian Economy
Professor Nachane, Professor Radhakrishna, distinguished academics and friends, I am thankful to Indira Gandhi Institute of Development Research (IGIDR) for granting me the honour of releasing the India Development Report 2008 (IDR 2008). This is the fifth in the series and I wish to place on record our deep appreciation of the contribution made by Professor Kirit Parikh for the initiative and for establishing a tradition of high quality. I had the benefit of studying
Dr. Y. V. Reddy,
Governor, Reserve Bank of India
Professor Nachane, Professor Radhakrishna, distinguished academics and friends, I am thankful to Indira Gandhi Institute of Development Research (IGIDR) for granting me the honour of releasing the India Development Report 2008 (IDR 2008). This is the fifth in the series and I wish to place on record our deep appreciation of the contribution made by Professor Kirit Parikh for the initiative and for establishing a tradition of high quality. I had the benefit of studying
Jan 03, 2008
Management of the Capital Account in India: Some Perspectives
Guest of Honour Respected Professor C. R. Rao, Vice Chancellor Dr. Hasnain, President Professor Radhakrishna, Emeritus Professor Dr. Bhalla and distinguished participants, I am honoured by the kind invitation to deliver the inaugural address of the Annual Conference of Indian Econometric Society. It is a pleasure to be meeting friends in the profession, more so in my home town, Hyderabad. I have little to add to the themes covered in the papers. I thought that it may
Dr. Y. V. Reddy,
Governor, Reserve Bank of India
Guest of Honour Respected Professor C. R. Rao, Vice Chancellor Dr. Hasnain, President Professor Radhakrishna, Emeritus Professor Dr. Bhalla and distinguished participants, I am honoured by the kind invitation to deliver the inaugural address of the Annual Conference of Indian Econometric Society. It is a pleasure to be meeting friends in the profession, more so in my home town, Hyderabad. I have little to add to the themes covered in the papers. I thought that it may
Oct 08, 2007
Forex Reserves, Stabilization Funds and Sovereign Wealth Funds: Indian Perspective
Shri Sridharan, Chairman, FEDAI, Ladies and Gentlemen I am happy to be here today with the members of the Foreign Exchange Dealers Association of India, popularly known as FEDAI in the industry. FEDAI completes 50 years in 2008 and the Reserve Bank and FEDAI have shared a unique and symbiotic relationship all these years. Since the beginning of the reforms, FEDAI has partnered with the Reserve Bank to
Dr. Y. V. Reddy,
Governor, Reserve Bank of India
Shri Sridharan, Chairman, FEDAI, Ladies and Gentlemen I am happy to be here today with the members of the Foreign Exchange Dealers Association of India, popularly known as FEDAI in the industry. FEDAI completes 50 years in 2008 and the Reserve Bank and FEDAI have shared a unique and symbiotic relationship all these years. Since the beginning of the reforms, FEDAI has partnered with the Reserve Bank to
Jun 14, 2007
Capital Account Liberalisation and Conduct of Monetary Policy: The Indian Experience – Paper Presented by Dr. Rakesh Mohan
I. Overall Approach The distinguishing feature of our overall reform process initiated in the early 1990s has been the accomplishment of high economic growth in an environment of macro economic and financial stability. In fact, we have achieved acceleration in growth while maintaining price and financial stability. During this period, apart from all the other reforms, we have achieved current account convertibility, and also opened the capital account to a substantial
Dr. Rakesh Mohan,
Deputy Governor, Reserve Bank of India
I. Overall Approach The distinguishing feature of our overall reform process initiated in the early 1990s has been the accomplishment of high economic growth in an environment of macro economic and financial stability. In fact, we have achieved acceleration in growth while maintaining price and financial stability. During this period, apart from all the other reforms, we have achieved current account convertibility, and also opened the capital account to a substantial
Jun 12, 2007
The Challenges of Financial Liberalisation for Emerging Market Economies
I am very pleased and honoured to be here and I want to thank warmly my good friend, Dr Reddy, for having invited me to address the staff of the Reserve Bank of India (RBI).The BIS recently announced that the RBI Vice-Governor, Mr Rakesh Mohan, will chair a new working group on "Capital flows and emerging economies". I would like to congratulate him for accepting to explore this complex issue. I will offer some views on a related topic: "the challenges of financial li
Mr. Christian Noyer,
Governor of Banque de France
I am very pleased and honoured to be here and I want to thank warmly my good friend, Dr Reddy, for having invited me to address the staff of the Reserve Bank of India (RBI).The BIS recently announced that the RBI Vice-Governor, Mr Rakesh Mohan, will chair a new working group on "Capital flows and emerging economies". I would like to congratulate him for accepting to explore this complex issue. I will offer some views on a related topic: "the challenges of financial li
Jan 19, 2007
Overseas Investments by Indian companies - Evolution of Policy and Trends
Ladies and gentlemen, it is a pleasure to be invited to deliver the key note address at this international conference which is really topical and contextual for the present times and I thank the Bombay Chambers of Commerce for giving me this opportunity. I particularly appreciate the organizers for keeping the focus on host country perspective in regard to overseas expansion by Indian companies and the participants will have the benefit of listening and interacting wi
Smt. Shyamala Gopinath,
Deputy Governor, Reserve Bank of India
Ladies and gentlemen, it is a pleasure to be invited to deliver the key note address at this international conference which is really topical and contextual for the present times and I thank the Bombay Chambers of Commerce for giving me this opportunity. I particularly appreciate the organizers for keeping the focus on host country perspective in regard to overseas expansion by Indian companies and the participants will have the benefit of listening and interacting wi
Dec 19, 2006
Dynamics of Balance of Payments in India
Vice-Chancellor Professor Siddiqi, Prof. J. Satyanarayana, Dr. J. Rameshwar Rao, Prof. Purushotham Rao, Prof. Ali Khan, faculty members and distinguished friends, I am honoured by the kind invitation of the Vice-Chancellor to me to be the Chief Guest and to deliver the first Diamond Jubilee lecture of the Department of Commerce, Osmania University. I specifically owe a deep debt of gratitude to Osmania University and I have also been proud to acknowledge it. In August
Dr. Y. V. Reddy,
Governor, Reserve Bank of India
Vice-Chancellor Professor Siddiqi, Prof. J. Satyanarayana, Dr. J. Rameshwar Rao, Prof. Purushotham Rao, Prof. Ali Khan, faculty members and distinguished friends, I am honoured by the kind invitation of the Vice-Chancellor to me to be the Chief Guest and to deliver the first Diamond Jubilee lecture of the Department of Commerce, Osmania University. I specifically owe a deep debt of gratitude to Osmania University and I have also been proud to acknowledge it. In August
Sep 19, 2006
Foreign Exchange Reserves: New Realities and Options
Distinguished Friends, I am thankful to the organisers for inviting me to participate in the 2006 Program of Seminars on the Theme 'The World in Asia, Asia in the World'. The theme for this session has tantalising words: problems, plenty, challenges, opportunities, accumulation, large, foreign, windfall and reserves. It may be a little hard to match the sense of these words in an address by central bankers. So, I intend taking a slightly broader view of the subject an
Dr. Y. V. Reddy,
Governor, Reserve Bank of India
Distinguished Friends, I am thankful to the organisers for inviting me to participate in the 2006 Program of Seminars on the Theme 'The World in Asia, Asia in the World'. The theme for this session has tantalising words: problems, plenty, challenges, opportunities, accumulation, large, foreign, windfall and reserves. It may be a little hard to match the sense of these words in an address by central bankers. So, I intend taking a slightly broader view of the subject an
May 25, 2006
Monetary Policy and Exchange Rate Frameworks: The Indian Experience
I would like to congratulate the International Monetary Fund and Monetary Authority of Singapore for holding this Second High Level Seminar on Asian Financial Integration. This forum provides a good opportunity for all of us to exchange notes, ideas and views on the continuously evolving texture of the international financial architecture, particular as it affects Asia and as Asian financial growth itself impacts the rest of the world. The international financial land
Dr. Rakesh Mohan,
Deputy Governor, Reserve Bank of India
I would like to congratulate the International Monetary Fund and Monetary Authority of Singapore for holding this Second High Level Seminar on Asian Financial Integration. This forum provides a good opportunity for all of us to exchange notes, ideas and views on the continuously evolving texture of the international financial architecture, particular as it affects Asia and as Asian financial growth itself impacts the rest of the world. The international financial land
Nov 26, 2005
Foreign Exchange Regulations – A Review
Good evening, ladies and gentlemen. I am happy to be here at the annual general meeting of the FEDAI. As we never tire of mentioning, the role of FEDAI is unique. It is not merely a self regulatory organization in the sense of complementing regulation, its own regulations have a binding nature to the extent they are issued under directions from RBI. As a self regulatory organization, we look to FEDAI to promote better customer service, efficient market practices by en
Smt. Shyamala Gopinath,
Deputy Governor, Reserve Bank of India
Good evening, ladies and gentlemen. I am happy to be here at the annual general meeting of the FEDAI. As we never tire of mentioning, the role of FEDAI is unique. It is not merely a self regulatory organization in the sense of complementing regulation, its own regulations have a binding nature to the extent they are issued under directions from RBI. As a self regulatory organization, we look to FEDAI to promote better customer service, efficient market practices by en
Aug 13, 2005
Recent Developments in Forex, Money and G-Sec Markets: Account and Outlook
I. Introduction It gives me immense pleasure to address this distinguished gathering of forex professionals from all over the country. Coming to these visually beautiful surroundings, it is easy to get oblivious to the fact that this state is a large contributor of ‘invisibles’ for our balance of payments. Both tourism earnings and private remittances have had a significant impact on Kerala’s economy and the state has benefited substantially as a result of liberalisat
Smt. Shyamala Gopinath,
Deputy Governor, Reserve Bank of India
I. Introduction It gives me immense pleasure to address this distinguished gathering of forex professionals from all over the country. Coming to these visually beautiful surroundings, it is easy to get oblivious to the fact that this state is a large contributor of ‘invisibles’ for our balance of payments. Both tourism earnings and private remittances have had a significant impact on Kerala’s economy and the state has benefited substantially as a result of liberalisat
Jun 23, 2005
Overcoming Challenges in a Globalising Economy : Managing India’s External Sector
Dear Friends, I am thankful to the Foreign Policy Centre for giving me this opportunity to be with you this evening and share India’s experience in regard to managing its progressive integration with the world economy. I would like to confine myself to the issues relating to the external sector. Perhaps one of the most successful aspects of India’s structural reforms is the strength and dynamism in the external sector. The memories of June 1991, when the foreign excha
Dr. Y. V. Reddy,
Governor, Reserve Bank of India
Dear Friends, I am thankful to the Foreign Policy Centre for giving me this opportunity to be with you this evening and share India’s experience in regard to managing its progressive integration with the world economy. I would like to confine myself to the issues relating to the external sector. Perhaps one of the most successful aspects of India’s structural reforms is the strength and dynamism in the external sector. The memories of June 1991, when the foreign excha
Mar 11, 2005
The Roadmap for Fixed Income and Derivatives Market*
Friends, I am thankful to the Fixed Income Money Market and Derivatives Association of India (FIMMDA) and Primary Dealers Association of India (PDAI), the organisers, for inviting me to deliver the keynote address today. I have had the pleasure of being closely associated with FIMMDA and PDAI since their inception. Reserve Bank of India has been taking active interest in the development of fixed income markets and the role of FIMMDA is becoming increasingly important
Dr. Y. V. Reddy,
Governor, Reserve Bank of India
Friends, I am thankful to the Fixed Income Money Market and Derivatives Association of India (FIMMDA) and Primary Dealers Association of India (PDAI), the organisers, for inviting me to deliver the keynote address today. I have had the pleasure of being closely associated with FIMMDA and PDAI since their inception. Reserve Bank of India has been taking active interest in the development of fixed income markets and the role of FIMMDA is becoming increasingly important
Jan 25, 2005
Foreign Exchange Regulatory Regimes in India: From Control to Management
Shri Minoo Shroff, Mr Gazaria, Mr. Thakkar, ladies and gentlemen. I am delighted to be here in Forum of Free Enterprise to deliver the keynote address at this programme on FEMA for executives and professionals. The Forum of Free Enterprise has been engaged in educating public focusing special attention on the youth with a view to helping today’s younger generation to become good, responsible, active and well informed citizens of tomorrow. Towards that end stalwarts li
Smt. Shyamala Gopinath,
Deputy Governor, Reserve Bank of India
Shri Minoo Shroff, Mr Gazaria, Mr. Thakkar, ladies and gentlemen. I am delighted to be here in Forum of Free Enterprise to deliver the keynote address at this programme on FEMA for executives and professionals. The Forum of Free Enterprise has been engaged in educating public focusing special attention on the youth with a view to helping today’s younger generation to become good, responsible, active and well informed citizens of tomorrow. Towards that end stalwarts li
Jan 08, 2005
Investing in India: Challenges and Opportunities*
I am extremely happy to be here at the Pravasi Bharatiya Divas 2005. Whether in the spirit of the traditional Indian culture of Vasudaiva Kutumbakam, or in the context of a globalised world, I would not like to treat the Pravasi Bharatiyas as distant, but close to both our hearts and the economy. We are, of course, very proud of the achievements of the Indians settled abroad. It is, therefore, only befitting that the great Indian family should meet once a year. The to
Smt. Shyamala Gopinath,
Deputy Governor, Reserve Bank of India
I am extremely happy to be here at the Pravasi Bharatiya Divas 2005. Whether in the spirit of the traditional Indian culture of Vasudaiva Kutumbakam, or in the context of a globalised world, I would not like to treat the Pravasi Bharatiyas as distant, but close to both our hearts and the economy. We are, of course, very proud of the achievements of the Indians settled abroad. It is, therefore, only befitting that the great Indian family should meet once a year. The to
Sep 25, 2004
Indian Investments Abroad: Current Policy and Trends governing Indian Investments Abroad
Presentation(Powerpoint) by Smt. Shyamala Gopinath at a Seminar in Mumbai
Smt. Shyamala Gopinath,
Deputy Governor, Reserve Bank of India
Presentation(Powerpoint) by Smt. Shyamala Gopinath at a Seminar in Mumbai
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