ContextAddress by Shaktikanta Das, Governor of the Reserve Bank of India, at the High-Level Policy Conference of Central Banks from the Global South "Building Synergies", organised by the Reserve Bank of India as a part of commemoration of its 90th year, Mumbai, 21 November 2024.
Why it mattersIndia's governor presents balancing inflation and growth as the core principle for Global South central banks.
ContextRemarks at Macro Week 2024 organised by the Peterson Institute in Washington; the Reserve Bank of India keeps inflation in check and supports one of the fastest-growing large economies.
Why it mattersIndia's governor stresses policy buffers against spillovers from geopolitical tensions.
Problems raised
Geopolitical tensions spill over to emerging markets.
ContextKeynote address by Shaktikanta Das, Governor of the Reserve Bank of India, at the RBI@90 High-Level Conference on "Central banking at crossroads", organised by the Reserve Bank of India, New Delhi, 14 October 2024.
Why it mattersIndia's governor discusses how high rates raise debt costs and asset quality risks.
ContextHimalaya Shumsher Memorial Lecture by Shaktikanta Das, Governor of the Reserve Bank of India, at the Nepal Rashtra Bank, Kathmandu, 24 September 2024.
Why it mattersIndia's governor describes how climate and geopolitics are changing central banking.
ContextKeynote address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Future of Finance Forum 2024, organised by the Bretton Woods Committee, Singapore, 13 September 2024.
Why it mattersIndia's governor asks for a stronger global safety net and more voice for emerging economies.
ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Annual Financial Institution Benchmarking and Calibration (FIBAC) 2024 Conference, organised jointly by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Indian Banks' Association (IBA), Mumbai, 5 September 2024.
Why it mattersIndia's governor stresses finishing the last mile of disinflation.
Problems raised
The last mile of disinflation is hard.
The inflation framework's credibility is at stake.
ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the RBI@90 Global Conference on "Digital Public Infrastructure and Emerging Technologies", Bengaluru, 26 August 2024.
Why it mattersIndia's governor addresses accountability when banks use AI models.
ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Financial Express Modern Banking, Financial Sector and Insurance (BFSI) Summit, Mumbai, 19 July 2024.
Why it mattersIndia's governor refines the capital treatment of interest rate risk at banks.
ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the 18th Statistics Day Conference, organised by the Department of Statistics and Information Management, Mumbai, 28 June 2024.
Why it mattersIndia's governor explores big data to measure inflation expectations.
ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Second Global Conference on Financial Resilience, organised by the College of Supervisors (CoS), Mumbai, 20 June 2024.
Why it mattersIndia's governor describes a through-the-cycle approach to bank supervision.
ContextKeynote address by Shaktikanta Das, Governor of the Reserve Bank of India, at the 23rd Fixed Income Money Market and Derivatives Association of India - Primary Dealers Association of India (FIMMDA-PDAI) Annual Conference, Barcelona, 8 April 2024.
Why it mattersDas reviews market reforms and the risks of both action and inaction.
Problems raised
Indian financial markets must keep developing.
Treasury risk assessment is incomplete.
Regulation must evolve.
Solutions proposed
Build on reforms like CBDC and cooperative bank rules.
ContextWelcome address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Reserve Bank of India@90 commemoration function, Mumbai, 1 April 2024.
Why it mattersIndia's central bank marks ninety years by reviewing reforms such as inflation targeting.
Problems raised
The banking system faced serious challenges.
Price stability needed stronger tools.
The RBI must keep modernising.
Solutions proposed
Celebrate 90 years of the RBI.
Build on reforms like the bankruptcy code and inflation targeting.
ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Annual Conference of Reserve Bank of India Ombudsman, Mumbai, 15 March 2024.
Why it mattersDas urges banks to protect customer data against scams and deepfakes.
ContextKeynote address by Shaktikanta Das, Governor of the Reserve Bank of India, at the 59th South East Asian Central Banks (SEACEN) Governors' Conference, Mumbai, 15 February 2024.
Why it mattersDas discusses policy options as the global economy shifts.
Problems raised
The global economy is shifting fundamentally.
New complexities emerge.
Central banks need policy options.
Solutions proposed
Discuss policy options among SEACEN central banks.
ContextSpeech at a Confederation of Indian Industry event in Davos; the Reserve Bank of India keeps inflation in check and supports one of the fastest-growing large economies.
Why it mattersDas presents India's shift from repeated crises to macroeconomic confidence to a global business audience.
ContextKeynote address by Shaktikanta Das, Governor of the Reserve Bank of India, at the conference on Resolution of Stressed Assets and IBC – Future Road Map, organised by the Centre for Advanced Financial Research and Learning (CAFRAL), Mumbai, 11 January 2024.
Why it mattersDas argues the bankruptcy code has not yet reached its full potential for resolving bad loans.
Problems raised
Stressed assets need fast resolution.
The bankruptcy code is not fully effective.
Credit markets need depth.
Solutions proposed
Achieve the full potential of the bankruptcy code.
ContextInaugural speech by Shaktikanta Das, Governor of the Reserve Bank of India, at the Financial Institution Benchmarking and Calibration (FIBAC) 2023 Conference, jointly organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Indian Banks' Association (IBA), Mumbai, 22 November 2023.
Why it mattersDas describes how India kept stability through a series of shocks since 2020.
Problems raised
The world has faced an unending series of shocks since 2020.
Food price shocks keep inflation volatile.
Financial institutions must manage risks in a changing landscape.
Solutions proposed
Keep monetary policy focused on bringing inflation to target.
Strengthen governance and risk management in banks.
Maintain macroeconomic stability to support growth.
ContextKeynote speech by Shaktikanta Das, Governor of the Reserve Bank of India, at the Symposium on Indian Economy 2023, organised by the Institute of Indian Economic Studies, Tokyo Chamber of Commerce and Industry, Tokyo, 9 November 2023.
Why it mattersDas warns against overreacting to temporary food price shocks.
ContextPlenary address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Kautilya Economic Conclave, organised by the Institute of Economic Growth and Ministry of Finance, Government of India, New Delhi, 20 October 2023.
Why it mattersDas explains how macroprudential tools help reconcile price and financial stability.
Problems raised
Price stability and financial stability can conflict.
Global shocks create uncertainty.
Inflation remains above target.
Solutions proposed
Manage complementarities between the two goals.
Use macroprudential tools alongside monetary policy.
ContextDiamond Jubilee distinguished lecture at the Delhi School of Economics; the Reserve Bank of India keeps inflation in check and explains how it sets policy.
Why it mattersDas explains how flexible inflation targeting balances growth and price stability.
Problems raised
Inflation breached the 6% upper tolerance.
Supporting growth while controlling inflation is difficult.
Shocks require flexibility.
Solutions proposed
Use flexible inflation targeting.
Shift priority to inflation when it gets too high.
ContextKeynote address by Shaktikanta Das, Governor of the Reserve Bank of India, at the G20 TechSprint Finale, organised by the Reserve Bank of India and the Bank for International Settlements, Mumbai, 4 September 2023.
Why it mattersDas presents G20 tools to make sanctions screening and anti-money-laundering cheaper.
Problems raised
Illicit finance and sanctions screening are costly.
ContextLalit Doshi Memorial Lecture at the Y. B. Chavan Centre in Mumbai; the Reserve Bank of India keeps inflation in check and reflects on sustainable growth.
Why it mattersDas warns that pandemic-era liquidity support could create future fragility.
ContextClosing remarks by Shaktikanta Das, Governor of the Reserve Bank of India, at the seminar on "Global Economy - Challenges, Opportunities and Way Forward", organised by the Ministry of Finance, Government of India and the Reserve Bank of India, Mumbai, 11 August 2023.
Why it mattersDas calls for G20 coordination as limited policy room meets high inflation.
Problems raised
Post-pandemic recovery faces high inflation.
Financial vulnerabilities and limited policy room.
ContextOpening plenary address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Summer Meetings, organised by Central Banking, London, 13 June 2023.
Why it mattersDas explains how separate tools helped India handle inflation and banking turmoil together.
Problems raised
Central banks faced three major shocks in three years.
Fighting inflation clashed with banking turmoil.
Liquidity support could create future fragilities.
Solutions proposed
Change policy gears quickly when needed.
Use separate tools for price and financial stability.
ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the conference of Directors of Banks, organised by the Reserve Bank of India for Public Sector Banks on 22 May 2023 in New Delhi and Private Sector Banks on 29 May 2023 in Mumbai.
Why it mattersDas links bank governance to stability after foreign bank failures.
Problems raised
Banks faced stress from the pandemic, war and foreign bank crises.
Governance weaknesses can threaten stability.
Sustainable growth needs sound banks.
Solutions proposed
Strengthen governance in banks.
Maintain strong capital and asset quality.
Promote a culture of compliance and risk management.
ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Global Conference on Financial Resilience, organised by the College of Supervisors, Mumbai, 27 April 2023.
Why it mattersDas warns about growing cyber and operational risks.
Problems raised
Financial systems face new risks, including technology risks.
Operational and cyber risks are growing.
Shocks can test resilience at any time.
Solutions proposed
Strengthen supervision and risk management in banks.
Apply international principles on ICT risk management.
ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Payment System Operators (PSO) conference, Kochi, 18 March 2023.
Why it mattersDas asks payment firms to fix failed transactions and complaints.
ContextAddress by Shaktikanta Das, Governor of the Reserve Bank of India, at the Digital Payments Awareness Week (March 6-12, 2023) Launch of Mission "Har Payment Digital", Mumbai, 6 March 2023.
Why it mattersDas sets the goal of making every transaction in the country electronic.
Problems raised
Many payments in India are not yet digital.
Parts of the population lack access to digital payments.
Awareness of digital payment safety is limited.
Solutions proposed
Launch the 'Har Payment Digital' mission.
Promote awareness through Digital Payments Awareness Week.
Make financial inclusion a pillar of the payments vision.
ContextKeynote address by Shaktikanta Das, Governor of the Reserve Bank of India, at the 22nd Fixed Income Money Market and Derivatives Association of India - Primary Dealers Association of India (FIMMDA-PDAI) Annual Conference, Dubai, 27 January 2023.
Why it mattersDas reviews how Indian markets handled Covid, war and turmoil.
ContextKeynote address by Shaktikanta Das, Governor of the Reserve Bank of India, at the high-level Conference co-organised by the International Monetary Fund (IMF) Asia and Pacific Department (APD) and the IMF South Asia Regional Training and Technical Assistance Centre (SARTTAC), New Delhi, 6 January 2023.
Why it mattersDas discusses South Asia's macroeconomic challenges.
ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Annual Research Conference of the Department of Economic and Policy Research, Reserve Bank of India, Hyderabad, 19 November 2022.
Why it mattersDas asks staff economists to focus studies on questions that matter for policy decisions.
ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Annual Financial Institution Benchmarking and Calibration (FIBAC) 2022 Conference, organised jointly by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Indian Banks' Association (IBA), Mumbai, 2 November 2022.
Why it mattersDas describes India's resilience to repeated shocks.
ContextInaugural address by Shaktikanta Das, Governor of the Reserve Bank of India, at the Annual Conference of RBI Ombudsmen, Jodhpur, 28 October 2022.
Why it mattersDas asks banks to improve service for vulnerable customers.
ContextWelcome remarks by Shaktikanta Das, Governor of the Reserve Bank of India, at the Virtual Launch of Digital Banking Units (DBUs), 16 October 2022.
Why it mattersDas launches branches built on digital tools to reach underserved districts.
ContextAddress at the annual event of FIMMDA, India's fixed income and money market dealers association; the Reserve Bank of India keeps inflation in check and reforms financial markets.
Why it mattersDas links credible targeting to deeper bond and currency markets.
ContextSpeech at Bank of Baroda's annual banking conference in Mumbai; the Reserve Bank of India keeps inflation in check and supervises banks facing rapid change.
Why it mattersDas asks banks to prepare for disruptive innovation.
ContextSpeech at the Kautilya Economic Conclave organised by the Institute of Economic Growth in New Delhi; the Reserve Bank of India keeps inflation in check amid global price rises.
Why it mattersDas argues that monetary policy must fit domestic conditions despite global inflation.
ContextAddress by Shaktikanta Das, Governor of the Reserve Bank of India, at the Iconic Week of Azadi ka Amrit Mahotsav Celebrations organised by the Central Board of Indirect Taxes and Customs, Mumbai, 9 June 2022.
Why it mattersDas warns about vulnerabilities building up in start-ups.
ContextAddress by Shaktikanta Das, Governor of the Reserve Bank of India, at the National Defence College, Ministry of Defence, Government of India, New Delhi, 4 March 2022.
Why it mattersDas explains how communication shapes inflation expectations.
