Forks in the Road: My Days at RBI and Beyond (HB)


Author: C Rangarajan

9780670096992 | HB | pp. 304 | 2022 | Penguin Random House

Forks in the Road: My Days at RBI and Beyond by C Rangarajan takes a look at his thinking and actions on various issues that came into consideration between 1982 and 2014.

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C Rangarajan was a man who shaped India’s economy and positively impacted the lives of many. A veteran economist and policymaker, this memoir provides a captivating account of his professional journey and accidental entry into the RBI in 1982.

Rangarajan describes the key events between 1982 and 2014, particularly in the areas of money and finance, explaining not only what happened but also the motivations and processes behind them. The path-breaking reforms that he implemented during his tenure as governor of RBI included deregulation of interest rates, strengthening of the banking system by a gradual tightening of prudential norms, creation and nurturing of financial markets, giving them depth and vibrancy, shifting to market-determined exchange rates, making the rupee convertible on the current account and the cessation of automatic monetization of budget deficit.

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C Rangarajan







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About the Author

After being in academics for nearly three decades, C. Rangarajan joined RBI as deputy governor in 1982 and then proceeded to become member, Planning Commission, governor, Reserve Bank of India, governor, Andhra Pradesh, chairman, Twelfth Finance Commission, member, Rajya Sabha and, finally,
chairman, Economic Advisory Council to the Prime Minister (Dr Manmohan Singh). A Padma Vibhushan awardee, he was part of the team that initiated far-reaching reforms in India’s economy in the early 1990s.


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