The Governor and his worst political environment

 Dr Subbarao Governor RBI faced the worst political environment and also suffered from the lack of support from the banking system. This is really unfortunate though Dr Subbarao did his best to prevent the damage inflicted on the financial system because of indifference of the Government. The economy got into trouble for want of initiative and actions from the Government in coordination with the Central Bank. Dr Subbarao will have his unique place in the history of the Reserve Bank for his conviction to fight inflation even  at the cost of growth and for his boldness to fight the government for the Central Bank's independence although not appreciated and succeeded to his satisfaction. He has made his mark and his contribution will be recognized though not at this moment of crisis but at a later date if some one were to analyze  unbiasedly the background and circumstances under which he spent his time as Governor.

Dr.T.V.Gopalakrishnan