In this speech to the staff of the Reserve Bank of India delivered on May 14, 2007 at the RBI, Central Office, Mumbai, the author offers some comments on the challenges posed by financial liberalisation drawing a comparison with France. The lessons that can be drawn from a comparison with the...

The paper has argued that to expand coverage of micro-pensions, social entrepreneurship (along with social responsibility) will be needed by the financial sector, including the MFIs, insurance companies and mutual funds. Such entrepreneurship should aim to drastically reduce overall transaction...

The economic and financial structure of Odisha is highlighted. Various financial inclusion initiatives are taken by the Reserve Bank with a particular reference to Odisha. The macroeconomic policy challenges are explained here. [Seminar on Role of Banks in Odisha’s Development, organized...

The Financial Crisis of 2007-2008 and the Great Recession of 2007-2009 are now in the past. Again there was the debt crisis of 2010-11. During the worst of the recent financial crisis/Great Recession many observers made comparisons between that event and the Great Depression. The lecture...

This paper attempts to examine technical efficiency and productivity performance of Indian scheduled commercial banks, for the period 1979-2008. A model is constructed using multiple output/multiple input technology production frontier using semiparametric estimation methods. The endogenity of...