BRICS Bank: Doing development differently?

By Bunn Nagara

A prospective new financial architecture being set up by the BRICS countries promises to reform and improve development finance for the world.

Re-making Financial Policy to Meet Society’s Needs

By Yaga Venugopal Reddy

The financial sector has been hit by major crises and scandals, to the point that its credibility with the public has fallen to historically low levels. A re- thinking and re-making of financial policies and the role of financial institutions is thus urgently needed. This was the theme of a lecture presented by the distinguished former Governor of the Reserve Bank of India, Yaga Venugopal Reddy, which was made in conjuncture with the 2012 Annual General Meeting of the Bank for International Settlements held in Basel, Switzerland. The 2012 Per Jacobsson Foundation Lecture by Mr Reddy, made on 24 June 2012, covered three main themes: (1) Society and Finance, (2) Economic Policies and the Financial Sector, and (3) Regulation of the Financial Sector.

Below is the first part of the lecture, on Society and Finance. Future issues of SouthViews will publish the other two parts of the lecture.