. i am sure, when ready, the plan would provide rbia with guidelines to combat the emergency efficiently and effectively. before i end, i would like to emphasise the urgent need for adopting proactive approach in streamlining records management in the bank. with the enactment of right to information act the records management system needs closer look so that systems are evolved for instantaneous storage and retrieval of information for dissemination purposes. i once again congratulate rbia and its staff on silver jubilee and hope that they would be able to tackle future challenges efficiently and effectively. thank you.

shyamala gopinath : special features of financial sector reforms in india inaugural address by ms shyamala gopinath, deputy governor of the reserve bank of india, at the 18th annual national conference of forex association of india, bangkok, 6 april 2007. * * * ms. nitaya pibulratanagit, asst. governor bank of thailand, mr. appiah chairman forex association of india, mr. lamba secretary forex association of india, delegates from india and asia / middle east, ladies and gentlemen. it is a pleasure to inaugurate the 18th annual conference of the forex association of india which is affiliated to aci in this historical city of bangkok. i understand fimmda had held a similar conference in bangkok in 2003 which was inaugurated by my senior colleague dr. rakesh mohan. india and thailand share a close association dating back to many centuries, which continues even in the present times, both culturally as well as economically. the past few years have witnessed increasing economic and commercial links and the signing of a number of agreements leading to a further intensification of relations. the economies of the asian region are emerging as the new engines of growth in the global economy and i am sure in this year ’ s conference many speakers will focus on the theme of the conference. for my address today, i intend to reflect upon the special features of financial sector reforms in india since the initiation of the reform process in early nineties covering banking sector and financial markets and certain actions taken and contemplated. there have been innumerable evaluations of the financial sector reforms undertaken by india, some of which critical of the pace but the results achieved are acknowledged by all. it is important to understand and appreciate the circumstances under which the entire process was guided through balancing the given systemic imperatives with the need for bringing about changes in a non - disruptive manner. financial sector reforms in india introduced as a part of the structural adjustment and economic reforms programme in the early 1990s have had a profound impact on the functioning of the financial institutions, especially banks. the principal objective of financial sector reforms was to improve the allocative efficiency of resources, ensure financial stability and maintain confidence in the financial system by enhancing its soundness and efficiency. at the same time, reforms were also undertaken in various segments of financial markets, to enable the banking sector to perform its intermediation role in an efficient manner. with a view to making the reform measures mutually reinforcing