rakesh mohan : reserve bank of india archives – some reflections and the way forward inaugural address by dr rakesh mohan, deputy governor of the reserve bank of india, at the silver jubilee inaugural function of the reserve bank of india archives, pune, 29 september 2006. * * * it is a real pleasure to be here today on the occasion of the silver jubilee inaugural function of the reserve bank of india archives ( rbia ), earlier known as the central records and documentation centre ( crdc ). the reserve bank of india established its central archives on august 24, 1981 with twin objectives to serve as ( i ) repository of non - current permanent records and ( ii ) the central archives of the reserve bank of india for research purposes. i am pleased to inform you that the rbi was one of the few organisations to have a corporate archive in the 1980s. it is a tangible sign of our active interest in archives in general and our archival heritage in particular. this past year has been an important year for the reserve bank in terms of historic milestones. the third volume of its history, covering the period 1967 - 1981 was released by the prime minister, dr. manmohan singh, also our former governor, on march 18, 2006. since the reserve bank also completed 70 years of its existence in 2005, our annual publication the report on currency and finance 2004 - 05 reviewed the reserve bank ’ s evolution as a central bank as its theme. but with all these milestones, we should not merely be stuck in the past. we should use these occasions to look ahead as well. in reviewing our own evolution as a central bank, we also had occasion to look into the evolution of central banking in general. the general image of central banks is that of conservative, stodgy, rigid institutions. it therefore came as a surprise to us that the reserve bank, along with other central banks, has been changing quite significantly in practice and function as the economic conditions and needs have changed over time. there has been a continuous process of change. it is therefore of the utmost importance that we lay appropriate emphasis on the presentation of our archives, so that all these changes are well documented and available for interpretation by future historians. archive is not a new concept. archives constitute the memory of people and organisation and collectively that of the world. archives help in forming our destiny to come together like individual parts of a musical score that create the symphony of history, past journeys which reveal our nature and origin and provide understanding of

subir gokarn : financial development and deposit insurance – some linkages remarks by dr subir gokarn, deputy governor of the reserve bank of india and chairperson, deposit insurance and credit guarantee corporation ( dicgc ), at the 8th asian regional committee and international conference of international associations, goa, 18 january 2010. * * * introduction governor, reserve bank of india, dr. d. subbarao ; deputy governor, reserve bank of india, ms. usha thorat ; president, iadi and vice - chairman, fdic, mr. martin gruenberg ; chairman, arc and deputy governor, dicj, mr. mutsuo hatano ; ceo of the deposit insurance and credit guarantee corporation, mr. h. n. prasad ; distinguished participants ; let me add my own words of welcome to all the participants in this very important event. in his opening address, governor subbarao provided a historical perspective on the development of deposit insurance in india, highlighted its importance in sustaining confidence in the banking system as we dealt with the global financial crisis and laid out the challenges that it will have to deal with in the future. i would obviously not like to cover the same ground. also, i must admit to being a complete novice as far as deposit insurance is concerned, having only taken on the role of chairperson of deposit insurance and credit guarantee corporation ( dicgc ) in late november 2009, when i joined the reserve bank of india as deputy governor. consequently, i thought it would be more appropriate and useful for me to talk about a broad vision for financial sector development, which will then provide a framework within which to view the evolving role of deposit insurance. the recent crisis is clearly a dominant factor in any current discussion on financial sector development. while this is entirely understandable and legitimate, we must resist the temptation to view the future entirely through the lens of the crisis. crises will come and go, but the role that the financial sector as a whole plays in economic development and welfare will be fulfilled only if we allow it to find a healthy balance between multiple and sometimes potentially conflicting objectives. taken together, these objectives provide an enduring way to view financial sector development, which combines both traditional functions and incorporates new goals that are driven by both domestic and global aspirations and compulsions. a framework for financial development i will now lay out a framework for financial sector development, which encompasses five critical objectives. these five objectives are : efficiency, stability, transparency, inclusion and sustainability