- Books

Who Moved My Interest Rate: Leading the Reserve Bank Through Five Turbulent Years #2020

Who Moved My Interest Rate Leading the Reserve Bank Through Five Turbulent Years Duvvuri Subbarao s term as the governor of the Reserve Bank of India from to was by all accounts an unusually turbulent period for the world and for India The global financial crisis erupted

  • Title: Who Moved My Interest Rate: Leading the Reserve Bank Through Five Turbulent Years
  • Author: Duvvuri Subbarao
  • ISBN: -
  • Page: 418
  • Format: Kindle Edition
  • Who Moved My Interest Rate: Leading the Reserve Bank Through Five Turbulent Years By Duvvuri Subbarao, Duvvuri Subbarao s term as the governor of the Reserve Bank of India from 2008 to 2013 was by all accounts an unusually turbulent period for the world and for India The global financial crisis erupted within a week of his assuming office Then, just as the impact of the crisis on India ebbed, the action shifted to combating a decade high, stubborn inflation during 2009 Duvvuri Subbarao s term as the governor of the Reserve Bank of India from 2008 to 2013 was by all accounts an unusually turbulent period for the world and for India The global financial crisis erupted within a week of his assuming office Then, just as the impact of the crisis on India ebbed, the action shifted to combating a decade high, stubborn inflation during 2009 11, which segued into a battle against a sharp depreciation of the rupee starting mid 2012 Who Moved My Interest Rate is an insider s account of the dilemmas and quandaries Subbarao confronted while leading the Reserve Bank through these extraordinary economic and political challenges.Subbarao s five years at the Reserve Bank also marked an intellectually vigorous period for central banking around the world Not only did the global financial crisis test the policy force of central banks, but it also raised several questions about the breadth of their mandates and the limitations of their autonomy and accountability While much of the existing debate is set in the advanced economy context, Who Moved My Interest Rate places these issues squarely in an Indian and emerging market perspective.This is also a compelling chronicle of Subbarao s attempts to demystify the Reserve Bank and explain to the public its impact on their everyday lives Honest, authoritative and deeply insightful, this book enhances our understanding of what is, arguably, one of India s most trusted institutions.

    • [E-Book] ✓ Who Moved My Interest Rate: Leading the Reserve Bank Through Five Turbulent Years | BY » Duvvuri Subbarao
      Duvvuri Subbarao

    1 thought on “Who Moved My Interest Rate: Leading the Reserve Bank Through Five Turbulent Years

    1. The former RBI Governor provides an Indian perspective of the financial crash of 2008 and the turbulent years that followed This book provides a very good view at how decisions are taken and implemented at probably the most important institution of our country He recounts the continuous pressure from the last government to cut interest rates The importance of an autonomous Central Bank has been highlighted numerous times, which I also think is the most important thing for the RBI He also raises [...]

    2. One of the best memoirs of recent years, Mr Subbarao has really put his heart out of his narration of his years at the helm of RBI Battling the economic crisis of 2008 09, the inflation of 2011 12 and deprication of rupee in 2013, he had been on his toes all through The book actually presents to you the dilemmas a governor face and how conclusions from hindsight become irrelevant The book is deep about the relationship of Goverment and the RBI, the issue of NBFC, the awareness of functioning of [...]

    3. Delightful read A very candid account on the turbulent times between 2008 and 2013 Probably doesn t get enough credit for the job he didFavorite quotes Y.V Reddy Everywhere in the world, the future is uncertain In India, even the past is uncertain on the lack of accurate data The Reserve bank is completely free within the limits set by the Government on the autonomy of the Central bankKeynes When the facts change, I change my mind What do you do, sir P.S Mr Reddy s biography is out too Bound to [...]

    4. My first on learning the workings of a central bank With Subbarao leading India out of the financial crisis, this is certainly an interesting read

    5. Here is a book I expected to be a drab read, but turned out to be a really engaging read Duvvuri Subbarao, a retired IAS officer who went on to become the 22nd Governor of the Reserve Bank of India, recounts his years leading the Central Bank for five years.D Subbarao s term at the Reserve Bank coincided with a period of global turmoil Initially beset by the ever looming price rise problem followed by the US sub prime crisis that spilled over to become the Great Recession and that followed by th [...]

    6. D Subbarao writes with much eloquence of his five years at the Central Bank considering the continuous challenges he faced of the international pressures of taper tantrums, unconventional monetary policy, evaporation of MBS CDO etc The five years as he mentions as per a Chinese phrase May you live in interesting times and yes it was damn interesting From bring down the repo rate from 10% to 5% and then fighting inflation for the last 3 years was much of a challenges It is also to be remembered [...]

    7. Public institutions in India are, by and large, uninspiring and moribund But RBI stands as an exception Why is this so Why the same pathology that debilitate other public institution does not diminish RBI Who Move MY Interest rates is answer to that question.The Book is suffused with modesty, dignity and brilliance The books does many things One, D Subbarao lays out complex economic debates in simplest possible terms Two, it locates RBI and Indian economy in the complex and volatile global econo [...]

    8. An onslaught of memoirs by former central bankers have hit the shelves this year YV Reddy, Duvvuri Subbarao and now by Raghuram Rajan While all three have had their share of ups and downs, I believe what makes Subbarao s time at the helm unique is that he faced a constant, see sawing economy the GFC when he entered, a period of constantly high inflation thereafter and two currency scares towards the end As such, it s interesting to see what his interpretation is about the role he played during t [...]

    9. It is always a pleasure reading the ex bureaucrat or any govt official books as it gives the inner and first hand experience of what went into the minds of some of the most talented people in the country The book by the ex RBI governor is refreshing in terms of the content and language Mr Subbarao explains some of the mandate given to RBI namely Inflation, Currency stability among others He is open to point out his differences with the then Finance Minister Chidambaram but he has kept the other [...]

    10. The book seems like an exposition of everything that Subbarao wanted to say during his tenure, but couldn t Despite that fact, it s worth listening to.The book does give a lot of insight into the machinery of the Indian economy, and what the related institutions have to do to keep it stable and running Another big plus that I like about the book is that it gives a lot of detail as to how India maintains its economic relationship with the outside world The book is not an easy read however, and is [...]

    11. I remember reading about the 2008 crisis and watching news anchors yell about inflation on TV It s surreal to read a behind the scenes view of what the man organisation responsible for dealing with these issues were up to during these times The main take away from the book was that I don t know how the world of finance really works More importantly how shallow my understanding is of our democracy and it s institutions The author ex RBI Governor seems like a very nice person While I really enjoye [...]

    12. An interesting account of an IAS officer, who is all of a sudden assigned an uphill task to head the central bank of a country hit by 2008 global financial meltdown Mr Subbarao explains everything, including some occasional deep routed tussles with the government, associated with the Reserve Bank of India s RBI policies What makes this book unputdownable is Mr Subbarao s honest explanations of issues faced by the RBI, and as a governor, his take on the remedial measures The book also throws ampl [...]

    13. This books gives a very detailed inside account of how things operate inside a central bank Though the narrative style may seem bland sometimes, the former governor of Reserve Bank of India put together an honest memoir He makes an effort to keep the language simple with minimal use of jargons He runs us through various challenges he faced ranging from global financial crisis to independence of central banks and how he handled them He clearly explains his thought process and dilemmas A must read [...]

    14. Subbarao is a good writer and it is evident by this book The language used is easy but with rich vocabulary.He talks about his life as an IAS and then as governor of RBI The explanation of various economic situations was made in a way that a person with basic understanding of the subject will be able to enjoy and learn It gets tedious somewhere in the middle but regains the momentum again.Its a good read, worth the time and money I was surprised by Subbarao s writing skills The book is not acade [...]

    15. All that we need to do to achieve cent percent meaningful financial inclusion remains an open question Keeping our ear close to the ground will take us closer to an answer Sri D Subbarao, ex Governor, RBI, through his book has tried to demystify the Reserve Bank His book is a straight forward account of his tenure in RBI 2008 2013 His term is remembered for frequent changes in the interest rates His term is also remembered for his policy stance on rate cuts during his later years resulting in un [...]

    16. I guess I was expecting some masala in the book didnt find any It s a book for people who know a little about those years financially Not for the normal reader Normal reader may find the book entirely boring I have to say the author s honesty, integrity and straight forwardness shows in each and every line of the book.

    17. A book that I thought would be a drab read but turned out to be very gripping It provides a great view at how the decisions are taken and implemented at probably the most bureaucratic institution of our country Defines the relationship between the RBI and the GOI in a nutshell and also provides some insights into the daily routine of the Governor.

    18. Amazingly well written book Dr Subbarao headed the central bank during especially difficult times Of course we can judge many of his decisions in the hindsight but it is not easy being the governor of RBI

    19. Very good book even for layman to understand how RBI functions, how decisions are made during critical situations and how the Governor handles various pressures from within the country and from global happenings.

    20. This was a difficult book for me to read.Not simplified enough for a layman to understand the dynamics.

    21. Insider view of the functioning of RBI Fascinating read for people interested in macro economics.

    22. Within two weeks of his taking over as Governor of the Reserve Bank of India, Lehman Brothers meltdown surfaced on 15th September 2008, marking the beginning of the Global Finacial Crisis of 2008 So, Dr D Subbarao, author of Who Moved My Interest Rate , definitely began his term in interesting times It didn t end there In a week of his reappointment in 2011, the Eurozone Sovereign Debt Crisis occurred At the end of his term in 2013, the taper tantrums had led to the free fall of the Indian Rupee [...]

    23. Book details out the nuances and mechanics of what it takes to run RBI What strikes you off from the first page is the articulation and well constructed logics of Subbarao in situations which seem nothing short of extreme complexity with multiple stakeholders He was rightly called Mr Crisis who managed to pull off a well balanced performance in the time of global financial crisis which continued to plaque throughout his tenure He upheld the core mission of RBI while balancing the delicate song a [...]

    24. This book explains the tenure of Dr.Subbarao and the various challenges faced by him during his tenure in simple language It speaks about the relationship between the Finance Ministry the RBI.Must read for someone interested about banking and central Banking.

    25. The author writes well He is able to put together well constructed sentences I was surprised by how well he writes since he is not a professional writer I later found out that he stood first in the Civil Services Examination in his year One does not achieve that unless one is a good writer.It is fortunate that he writes so well In this book he tries to simplify financial terms for the benefit of those who, in his words, are educated and intelligent but largely unaware of the world of finance At [...]

    26. Ex Governor s book is a not only a knowledge packed primer on the working of the Indian Central Bank, but it also supplements the theoretical understanding of core Economy concepts with practical concerns in applying the textbook principles in a dynamic, turbulent and a diverse economy such as India s.There is a concept of Ceteris Paribus underpinning most of the economy theories which basically means that an equation would hold given all other variables parameteres, which are mostly quantifiabl [...]

    27. Duvvuri Subbarao has a brilliant writing style He does not try to sensationalize various events during his tenure as RBI Governor Instead, he takes a very sensible approach of talking about the challenge, its impact, actions he took, constraints he had and the outcome of the actions I simply cannot stop praising his writing style He also gives an excellent account of the work done by RBI, its front line managers and its senior leaders You do not have to be a finance or banking expert to understa [...]

    Leave a Reply

    Your email address will not be published. Required fields are marked *