It was baptism by fire – Duvvari Subbarao
It was baptism by fire – quoted Duvvari Subbarao former RBI governor , economist & civil servant – in his post book release talk organised by NGO Manthan in Secunderabad. Subbarao whose book ‘Who moved my interest rate’ addresses the challenges and dilemmas he had faced during his five year term as the governor of Reserve bank.
Subbarao who is now a faculty at the National University Of Singapore , talked about three main challenges he had tackled in the book during the course of his 2 hour talk – expelling dilemmas & challenges, de- mystifying the RBI & explaining the dilemmas in making policies using public policies as a canvas.
The author and economist was also verbal about his initial challenge in making a transformation from the role of a financial secretary in Delhi to being the RBI governor in Mumbai.
Subbarao also talked about some of the controversial decisions he had made in his tenure, including the one where he had hiked up the interest rate in mid July 2013 after which the market tumbled down and the subsequent press interview he gave for which he was called out as unapologetic.
Subbarao also stressed on the need for an apolitical bank with a large outlook after he talked about his disagreements with various political leaders during his tenure.