D Subbarao on why he was annoyed with P Chidambaram and much more in ‘Who Moved My Interest Rate’

Abstract

Former RBI governor D Subbarao reveals how he faced a challenging tenure riddled by an uncertain global economy, dark clouds in the domestic economy and a shaky relationship with the North Block Who Moved My Interest Rate? Leading the Reserve Bank of India Through Five Turbulent Years Duvvuri Subbarao, Penguin, Pp340, R699,

When Duvvuri Subbarao took charge as the 22nd governor of the Reserve Bank of India, within 10 days, Lehman Brothers collapsed, plunging the world in an unprecedented crisis. The governor, not even settled in the saddle, was tested by fire, and the RBI had to respond to the unconventional monetary policies of the advanced countries. Subbarao’s tenure coincided with the most turbulent times since the Great Depression, from September 5, 2008, to September 4, 2013, and he repeatedly underscores in the book that central banking was a constant challenge during his tenure. While challenging situations arose on the global economic front, some embarrassments came from the government as well. Read more at: https://www.financialexpress.com/jobs/d-subbarao-on-p-chidambaram-manmohan-singh-pranab-mukherjee-and-upa/319081/