MUMBAI, India, May 4 -- Reserve Bank of India issued the following speech:
Dr. C. Rangarajan, Chairman, Madras School of Economics, Dr. N. R. Bhanumurthy, Director, Madras School of Economics, Shri V. N. Shiva Shankar, Sr. Vice President, Southern India Chamber of Commerce and Industry, members of late Shri G. Ramachandran's family, distinguished guests from industry, academia and banks, esteemed faculty members, staff and dear students, ladies, and gentlemen. A very good morning to all of you.
2. It is a privilege to deliver the G. Ramachandran Memorial Lecture. I use the word privilege consciously because this occasion brings together three enduring values: the memory of a distinguished public servant, the intellectual setting of the Ma...