Obit: S S Tarapore (1936-2016), the diminutive colossus

Obit: S S Tarapore (1936-2016), the diminutive colossus: For the former deputy governor of the central bank, the RBI was not just another economic institution; it was the final frontier that kept fiscal policy in some sort of check.

A national loss

February 2, 2016
A national loss
This refers to T C A Srinivasa-Raghavan’s obit message on S S Tarapore, appearing in Business Standard. As the writer has rightly concluded, Tarapore’s departure is a national loss. Let us join in the prayers and condolences to the bereaved family.
For me, as one who has been blessing me and encouraging to express my views Tarapore is more than a ‘Guru’ which position he will continue to adorn. Last week, with reference to  a review of Tarapore’s latest book “Reforming Financial Reforms” by Aarati Krishnan in The Hindu Business Line, I had made the following observations about him:
 “Whether inside the RBI, handling sensitive areas such as monetary policy or management of forex reserves, or as a regular columnist SS Tarapore drew one hundred per cent on his resources which comprised mainly knowledge derived from work experience and own research, to guide policymakers, always keeping the Indian context in view. He never tried to please the establishment. His suggestions and pleas were always prescriptions for healing the wounds suffered by the financial sector due to diversions taken by authorities to make compromises with stakeholders. Just think about the benefits the Indian economy would have derived had the RBI moved forward with the proposal he made in the early 1990s to establish a gold bank. Now, the Centre and the RBI are trying to learn ‘gold management’ from first principles.”
M G Warrier, Mumbai


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