India's Decade of Reforms: RBI Newsletter
India’s Decade of Reforms: Coverage in RBI Newsletter
What's RBI Reading :
India’s Decade of Reforms;
Author: Shri M. G. Warrier;
Publisher: Notion Press (2018); eISBN 978-1-64249-144- 9; Pages: 242; Price: Rs399
The author of the book under review, Shri. M. G. Warrier had a distinguished service in the Reserve Bank and was a General Manager when he laid down the office. The book under review is a reflection of the debate on the current economic state and the role of bankers, economists and policymakers. It captures succinctly the evolution of the Reserve Bank from the halcyon days of the Hilton -Young Commission Report on the Indian Exchange Currency system, formative years of the Central Bank, the passing of the RBI Act, the commencement of operations of the fledgling Bank followed by the developments during the following eight decades of the Reserve Bank’s history. A number of topics - Bank Mergers, Gold Management in India, Universal Basic Income, Agricultural Income Tax, Farm Loan Waiver, National Pension System and Role of Auditors have been covered in the Book. The chapter on Management of Stressed Bank Assets deserves special mention in view of the Reserve Bank’s policy of tightening its rules around bank loan defaults, seeking to push large loan defaulters toward bankruptcy courts and abolishing half a dozen existing loan-restructuring mechanisms, in its latest bid to accelerate resolution of the bad loans problem at Indian banks. This book is very helpful for those dealing with policy, practicing bankers, students of management, banking and economics.
(Contributed by Shri P. P. Ramachandran, former DGM, RBI)