was finance secretary in Delhi when I was appointed governor of the Reserve Bank of India (RBI) in September 2008. Before moving to Mumbai, I went to call on Prime Minister Manmohan Singh to thank him for the confidence he reposed in me. It was a brief meeting – just about 15 minutes. We talked about the economic situation, of course – the government's fiscal challenges as well as RBI's unlikely problem of defending the rupee against appreciation.
After about 10 minutes of this, I said: "Sir, you were governor of RBI yourself. Do you have any advice to give me?" Dr Singh very characteristically demurred with that faint smile of his which you saw more in his eyes than on his lips. "What advice do I give you, Subbarao? You've been in the IAS, you know the country, you know the government, and you are familiar with RBI. Do what you think is best for the economy. I am sure you will do well," he said.
This story is from the December 28, 2024 edition of Hindustan Times Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 28, 2024 edition of Hindustan Times Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Nature is pure magic, and I feel incomplete without my camera
Raveena Tandon's passion for photography is rooted in her love for wildlife.
Fulton focuses on World Cup qualification
Craig Fulton had a short chat with Graham Reid before taking his seat in an empty Birsa Munda Hockey Stadium here to watch Delhi SG Pipers' practice in the morning.
Abhi-Ash vacation together, put divorce rumours to rest
The better part of 2024 had fans speculating over the divorce of actors Abhishek Bachchan (48) and Aishwarya Rai Bachchan (51).
Haaland fires brace as Manchester City rout West Ham; Chelsea held
Erling Haaland scored twice as Manchester City pummelled West Ham 4-1 in the Premier League on Saturday while Newcastle inflicted another painful defeat on Ange Postecoglou's struggling Tottenham.
Saikia, Bhatia Set to Become BCCI Secretary and Treasurer
Devajit Saikia and Prabhtej Singh Bhatia filed nominations for the posts of Board of Control for Cricket in India (BCCI) secretary and treasurer respectively and are set to be elected unopposed in the Special General Meeting (SGM) to be held in Mumbai on January 12.
Pant breaks free; Bumrah injures back
Fast bowler awaits scan results and he will be key if India are to win SCG Test after southpaw's blitz puts his team 145 ahead
Shooters suffer due to faulty equipment at New Delhi range
Shooters are paying the price for faulty equipment at the Karni Singh range here, where the National Championships are being held.
Kohli exits in rage, maybe for one last time in Australia
For a while on Day 2 of the Sydney Test, it felt like the clock had stopped.
Perfect storm in Sydney raises India's hopes
Right until Rishabh Pant walked out to bat on Saturday, wickets had been the order of the day in the Sydney Test.
Not retiring, sat out of the final Test for the team, says Rohit
Was it a good decision? Was it the right decision? Who took it? Did he opt out? Was he forced out? Will he call it quits? The questions had been never-ending and with the Indian cricket team working in its regular secret service mode, there was no way to know the real answers to them. In a way, this Sydney Test has been about Rohit Sharma without him actually playing a part in it.
