Respected Prime Minister, distinguished
guests and friends,
On behalf of all the Reserve
Bank employees - retired and serving; on behalf of the Central Board of the
Bank and on my own behalf, I have the honour and privilege of extending a hearty
welcome to our esteemed Prime Minister, Dr. Manmohan Singh; Governor of Maharashtra
Shri S.M. Krishnaji; Chief Minister of Maharashtra State Shri Deshmukhji; Union
Finance Minister Shri Chidambaramji and other distinguished guests. The Bank
had the privilege of a visit by the President, Dr. Abdul Kalam in November 2004
when he inaugurated the Bank's Monetary Museum. Today we have the unprecedented
privilege of a visit to the Reserve Bank by the Prime Minister of India, and
Sir, we are grateful to you for the very kind gesture. Reserve Bank, established
70 years ago, can be proud of its achievements. The history volumes being released
today provide a testimony.
More importantly, the Reserve Bank
is committed to maintaining excellence and the globally best standards. The
inauguration of the Centre for Advanced Financial Learning symbolises this commitment.
It also signifies the intended evolution of Bankers' Training College, started
in 1955, into a Centre devoted to advancing efficiency and stability in the
financial sector as a whole. The idea of institutionalising the advanced learning
process has been inspired by the initiative of setting up the Indira Gandhi
Institute of Development and Research (IGIDR).
Sir, the Reserve Bank is proud
of its professional acumen and some evidence of it is found in our publications.
One of them is the latest Report on Currency and Finance. This Report captures
the evolution of the Bank, particularly, how it has maintained and enhanced
its reputation as a credible as well as respected public institution in our
country. It is only appropriate that the Hon'ble Finance Minister Shri Chidambaram,
who played a part ten years ago as Finance Minister and is again playing a role
now in the Bank's evolution, is releasing it today.
Government of Maharashtra has
been generous in extending their valuable support to our functioning in all
respects; and we are grateful for it. I trust, we are satisfactorily serving
the State in various capacities such as its banker, its debt manager, etc. We
warmly welcome the Governor and the Chief Minister of our State, Maharashtra.
Finally, I extend a hearty welcome
to all the distinguished guests assembled here for kindly responding to our
Now, I have pleasure in requesting
the Hon'ble Finance Minister to release the latest Report on Currency and Finance.
Volume I of RBI’s history is essentially
work of Shri S.L.N. Simha, Senior Economist of RBI and this has been reprinted.
Volume II was authored by Dr. Balachandran under the overall guidance of a Committee
headed by Dr.C. Rangarajan. Volume III, completed now, is the work of Late Dr.
Ambirajan; Ms. Chandi Batliwala; Dr. A. Vasudevan and Shri T. C. A. Srinivasa
Raghavan under the overall guidance of a Committee headed by Dr. C. Rangarajan
and Dr. Bimal Jalan as Governor.
Now, I request Hon’ble Prime
Minister to release the history volume.