(First of two parts)

Early last month, this writer, together with BSP Assistant Governor Ma. Cyd Tuano–Amador, had the privilege of attending the First International Research Conference hosted by the Reserve Bank of India.

Attended by around 50 international dignitaries, the two-day conference was held in Mumbai, India’s financial capital.

The attendees included host Governor Duvvuri Subbarao (Reserve Bank of India), six other Central Bank Governors, several deputy Governors, academicians and eminent personalities from international financial institutions.

The participants exchanged views and research findings on the recent financial crisis from a central banking viewpoint. They also tackled the challenges to the conduct of monetary policy during the financial crisis; market failures and disruptions in the financial systems; challenges to regulation and supervision; and financial stability as an objective of monetary policy.

After the event, my wife Mira and I took the opportunity to travel to New Delhi, Jaipur and Agra (popularly referred to as the Golden Triangle) where we marveled at the old grandeur of India.

Our itinerary took us to magnificent palaces, forts, mosques and tombs. The high point of the trip was our visit to the Taj Mahal, acknowledged as one of the wonders of the world.

Made of the finest white marble and inlaid with precious and semi-precious stones, the Taj Mahal is considered the supreme gift of love. Erected by Mughal Emperor Sha Jahan to honor the memory of his wife, Mumtaz Mahal, the magnificent tomb employed around 20,000 craftsmen and took almost 20 years to build.

In New Delhi, I had the pleasant opportunity to exchange notes with our diplomatic officials led by Charge de Affaires and Consul General Maria Agnes M. Cervantes, Third Secretary, Vice Consul Catherine Rose Torres, Commercial Attaché Vichael Angelo Roaring, Finance Officer Efren Rafol and Protocol Officer Luis Rebagoda. Ambassador Francisco Benedicto had just been appointed to Beijing. His replacement, Ronald Allarey, former ambassador to Caracas, Venezuela and recently head of the DFA Asia Pacific Office, was still awaiting his acceptance (agreement)
by the Indian government.

Embassy officials, as in most other diplomatic posts, are now busy preparing to ensure that foreign-based Filipinos are able to participate meaningfully in the 2010 elections.

The Filipino community, estimated at 500, is largely comprised of those married to Indian nationals and other expatriates, professionals (such as pilots and engineers), and domestic workers. Lately, a growing number of Filipino performers (mainly band members) have started coming to work in India at hotels and restaurants.

(Continued next week)

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