Regulating the Financial Sector: Indian Experience

Nand & Jeet Khemka Distinguished Lecture Series
Dr. Yaga Venugopal Reddy
Emeritus Professor at the University of Hyderabad
Time:
Reception from 5:00 to 6:00pm
Lecture from 6:00 to 7:30pm
Lecture Venue:
The Waldorf=Astoria Hotel
The Duke of Windsor Suite (4th floor, Park Avenue side)
301 Park Avenue
New York, NY 10022

About the lecture:
India’s management of the financial sector is considered unorthodox and unique, but it has been largely successful in achieving high growth, low inflation and stability in the financial sector. The lecture attributes this to: a) an emphasis on maintaining balance in a rapidly transforming macro-economy; b) proactive pragmatism in monetary policy; c) an avoidance of corner solutions in managing the external sector; d) precautionary and counter cyclical policies in regulations; and e) a development oriented approach to financial sector policies.  He argues that the current global exploration for reform of the financial sector should draw lessons both from those seriously affected by the global crisis such as the USA and those less affected such as India.

About the speaker:
Dr. Yaga Venugopal Reddy is currently Emeritus Professor at the University of Hyderabad. He served for five years as the Governor of Reserve Bank of India and retired in 2008. He has been a member of the Commission of Experts of The President of The UN General Assembly on Reforms of The International Monetary and Financial System.  He has also been a Guest of Committee on Global Thought at Columbia University, New York.

Dr. Reddy was honored in October 2006 as one of the five original reformers of India, along with Dr. Manmohan Singh, Mr. P. Chidambaram, Dr. Rangarajan, and Mr. Ahluwalia.  Subsequently he earned the reputation of being a conservative central banker. More recently, in the context of global financial crisis, he is described as “the man who saved India.”

Dr. Reddy has been closely associated with several academic institutions in teaching and research capacities. He has authored several articles and published a number of books.  His latest book India and the Global Financial Crisis: Managing Money and Finance published by Orient BlackSwan was released in May 2009.

[Event Flyer]

The Nand & Jeet Khemka Distinguished Lecture Series is an endowed public program of the Center for the Advanced Study of India (CASI). Launched in the 2007-08 academic year, and made possible through the generous support of the Nand & Jeet Khemka Foundation, the series brings renowned India specialists to the Penn community and serves as a critical forum for analyzing and understanding the complex economic, political, social, and cultural changes that the world’s largest democracy is experiencing, as well as the challenges that lie ahead.
The Saluja Global Fellows Program has been made possible by the generous gift from Vishal Saluja ENG’89 W’89. CASI was excited to launch the program during the 2022–23 academic year, coinciding with the Center’s 30th Anniversary. This new program enables CASI to invite eminent leaders and rising experts on contemporary India preferably from the fields of media, culture, law, and contemporary history to be in residence for one to two weeks at CASI.