Sir Purshotamdas Thakurdas or Sir P. T. as he was popularly
known was a very distinguished and eminent businessman of India who took a keen
and active interest in the economic life of the country before and after
independence. Sir P. T. had a privilege to be associated with several
Committees and Commissions appointed by the Government of India.
Sir P.T. was indeed, a severe critic of the Government policies
followed by the British Government but his views, though dissenting and
differing from the Government's policies, were greatly appreciated and even
valued by the then British Government as he was very constructive in his
approach to the problems.
Sir P.T. was a firm believer in the logic and philosophy of free
enterprise and believed in the free forces of market mechanism to bring about
the rational allocation of scarce resources in the economy to promote growth
and development. However, he was not dogmatic about the virtues of free
enterprise or market mechanisms. He had accepted the inevitability of State
intervention at a certain stage of development in the country, as a necessary
policy instrument to promote growth keeping in view the imbalances in the
nature of the under developed economy. This has been reflected in the famous
book "Bombay Plan" published as early as in 1944. This remarkable document was
drawn up by a group of distinguished persons belonging to the private sector
and this document took a much broader view of the development process than one
would expect from the persons having faith in the market economy. The document
clearly stated that "no development of the kind we have proposed will be
possible except on the basis of a central directing authority which enjoys
sufficient popular support and possesses requisite powers and jurisdiction".
This reflected the farsightedness of the authors of the Bombay Plan.
Sir P.T. was closely associated with the Indian Banking Industry
having worked as a member on the Board of Directors of the then Imperial Bank
of India and also on the Central Board of the Reserve Bank of India since its
inception in 1935.
Sir P.T. was a very powerful and influential member on the Board
of the Reserve Bank of India. No decision in those days could be taken by the
Reserve Bank of India without taking Sir P.T. into confidence. He was a
prominent member of the Central Banking Enquiry Committee and Chairman of the
Rural Banking Enquiry Committee.
In the formative years of the Reserve Bank of India Sir P.T.
played an outstanding role and he was considered to be "both a driving force and
a restraining influence" during the deliberations in the Board Room of
the Reserve Bank of India more particularly in matters pertaining to the rights
of the Reserve Bank of India and its autonomous functioning vis-à-vis the
Sir P.T. was greatly interested in the problems of money,
banking, finance and exchange rates. Sir P.T. was associated with the Indian
Institute of Banking & Finance (Formerly Indian Institute of Bankers) as
its founding member and served on the Council of the Institute till his death
on 4th July 1961.
Speakers of Sir PTM Lectures - since its inception
IIBF – Sir PT ( Purshotamdas Thakurdas) Memorial Lecture on ‘Finance and Sustainability: Regulatory and Strategic Dimensions’ delivered by Dr. Subir Gokarn, Director of Research, Brookings India on 3rd December 2013 at Mumbai
IIBF-Sir PT (Purshotamdas Thakurdas) Memorial Lecture on "Restoring India to the Track of High Growth, Social & Economic Inclusion and Stability" delivered by Mr Saumitra Chaudhuri, Member, Planning Commission, Government of India on 28.01.2013 at Mumbai
Video of PTM Lecture delivered by Dr.Andrew Sheng, China Banking Regulatory Commission, China, on ‘Thoughts on the International Monetary System’ on 16th November – 2011
IIBF-Sir PT (Purshotamdas Thakurdas) Memorial Lecture on ‘On The Goal of Financial Inclusion --Have We Reached the Tipping Point?’ delivered by Shri Nandan Nilekani Chairman, Unique Identification Authority of India On 9th December – 2010 at Mumbai
IIBF-Sir PT (Purshotamdas Thakurdas) Memorial Lecture on ‘On Strategies for Disinvestment and Privatisation’ delivered by Dr. Vijay Kelkar Chairman, Finance Commission on 29th January – 2010 at Mumbai
IIBF-Sir PT (Purshotamdas Thakurdas) Memorial Lecture on "Indian Financial Reforms : National Priorities amidst an International Crisis" delivered by Dr. Ashok K.Lahiri, Executive Director, Asian Development Bank, Manila on 16.01.2009 at Mumbai
IIBF-Sir PT (Purshotamdas Thakurdas) Memorial Lecture on "Growth & Stability in Latin America & Asia" delivered by Dr. Guillermo Ortiz, Governor, Bank of Mexico on 10.11.2006 at Mumbai