urjit r patel : encouraging young enterprising skills in india speech by dr urjit r patel, deputy governor of the reserve bank of india, at the business standard best b - school project awards, welingkar institute of management development and research, mumbai, 12 january 2015. * * * i am honoured to be part of the business standard best b - school project awards to be presented today for recognising the bright young talent of business schools in india. i understand that this is the 7th edition of the award, and 158 colleges have participated from across the country with a wide range of projects. this conveys the high esteem that the award is held in, its popularity among b - school graduates, and the impact it has made over the years in recognising and honouring young professional talent. the teams are evaluated on the basis of the rigour of their work, innovative approaches, structure of the content and the meaningful solutions they provide for diverse business, social and organisational challenges. the function symbolises “ out of box ” thinking and the entailed enterprising skills of the “ young india ”. it epitomises a tribe of budding professionals who are not risk - averse and have “ fire in the belly ” to take a leapfrog into the future. frankly, i am deeply envious of the young students that i see in front of me. they have the dreams, desire and the capability to create new business models and modern enterprises, which india critically needs at this juncture. there are several notable inter - locking drivers that have been recently initiated or reinforced with vigour, which will complement our budding graduates ’ innate talent. • an emphasis on entrepreneurship for solutions. to absorb a labour force that increases by about one million per month requires many more entrepreneurs, tens of thousands, if not hundreds of thousands, more. • the national objective to make india a global manufacturing hub and a substantive part of international supply chains. the “ make in india ” vision / strategy is apposite and provides a much needed “ focal point ” to inculcate durable competitiveness in key sectors of our economy. • the stress on improving india ’ s ranking in the “ ease of doing business index ”. this provides a measurable gauge to determine how we progress. the repeated commitment and associated ground - level changes already taking place towards deepening “ policy - driven ” governance ( and less government ) is mission critical in this context.

y v reddy : evolving role of the reserve bank of india – recent developments speech by dr y v reddy, governor of the reserve bank of india, on the occasion of the foundation day of the institute of development studies, jaipur, 30 june 2007. dr. reddy is thankful to mr. kanagasabapathy, adviser - in - charge ( retd. ), reserve bank of india, for his valuable advice. * * * respected professor vyas, distinguished participants, ladies and gentlemen, i am indeed thankful to the institute of development studies and professor vyas for providing me this opportunity to share my thoughts with you today on the “ evolving role of the reserve bank of india : recent developments ”. my association with professor vyas has been long, but it became closer since november 2000, when he was appointed as a director on the central board of the reserve bank of india. professor vyas was also the chairman of the “ advisory committee on flow of credit to agriculture and related activities from the banking system ”, which was constituted by the reserve bank of india ( rbi ) in december 2003. many of the recommendations of the committee have since been implemented with good results. professor vyas is easily among the most eminent agricultural economists of the world and had been associated with the food and agriculture organisation of the united nations, where he made a significant contribution. as a person, he is extremely soft spoken and very scholarly, but his scholarship and erudition sit very lightly on his shoulders. humility is a trait which comes very naturally to him. it is my pleasure and honour to be here at his invitation. the institute of development studies, set up in 1981 at the initiative of a group of academic scholars and the government of rajasthan, has had the benefit of professor vyas ’ leadership. the institute aims to contribute to the understanding of the development processes broadly defined, besides providing a forum for better understanding of the issues involved in resolving the problems unique to the state of rajasthan. given the track record of the institute, i am confident that it will continue to make a meaningful contribution to the development process of the indian economy in general and of rajasthan in particular – especially those of bypassed sections. i. evolving role of rbi the reserve bank, established through the reserve bank of india act, 1934 commenced its operations in 1935. it draws its powers and responsibilities through other legislations also such as the banking regulation act, 1949. the rbi has over the years been responding to changing economic circumstances and these