Debashis Basu: Tales from Mint Road

Debashis Basu: Tales from Mint Road: Mr Chakrabarty, who had his feet well-grounded in both business banking and consumer issues, was a rare commodity in the central bank because of his clear thinking, ability to learn, frankness, drive and integrity...
DEMYSTIFYING RESERVE BANK OF INDIA
As mentioned in the article, Duvvuri Subbarao has been a fun-loving bureaucrat. He enjoyed the wit and wisdom of even his Hyderabad barber, whom he provoked and got an answer that ‘he (the barber) didn’t know much about interest rates, but he did know that if he talked about them his (Subbarao’s) hair used to rise, and it was easier to cut it’. 
The book so far has been reviewed on the basis of highlights published in the media as part of pre-publication propaganda. Once we start reading the 350 page book which claims to demystify India’s central bank, one gets a feeling that it exposes also the unprofessional way in which the political leadership and the finance ministry handles Reserve bank of India. The book gives an idea about the 'commitments' Chidambaram extracted from Dr Subbarao and why Rakesh Mohan was dropped at the last moment.

M G Warrier

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