RBI discusses management of macro-economic and financial sector risks

The Reserve Bank of India (RBI) discussed measurement and management of macro-economic and financial sector risks at its 12th Statistics Day Conference, the bank said in a release on Monday.

In his Theme Talk, RBI Deputy Governor Viral Acharya "outlined the path to creation of a Public Credit Registry in India and also possible use of the GSTN eco-system, both of which are expected to transform the economy through better credit allocation facilitated by access to comprehensive, transparent and near real-time data on borrowers", the release said.

Inaugurating the conference, RBI Governor Urjit Patel summarised key contributions of Prof Prasanta Chandra Mahalanobis to the academic field of statistics as well to the development of official statistics in India, it said. 

Prof Robert Engle, Michael Armellino Professor of Finance at New York University Stern School of Business and 2003 joint Nobel Laureate in Economics, delivered the keynote address on the subject 'How much Systemic Risk is too Much'.

Presentations were also made by G P Samanta, adviser, Department of Statistics and Information Management on ‘Value-at-Risk: New Approaches to Measurement and Model Validation.