I Do What I Do

Raghuram G Rajan


In Circulation

When Raghuram G. Rajan took charge as Governor of the Reserve Bank of India in September 2013, the rupee was in free fall, inflation was high, India had a large current account deficit and India's exchange reserves were falling. As measure after measure failed to stabilize markets, speculators sensed a full-blown crisis and labelled India one of the Fragile Five economies. Rajan's response was to go all out, not just to tackle the crisis of confidence, but also to send a strong message about the strength of India's institutions and the country's ongoing programme of reform.

He outlined a vision that went beyond the immediate crisis to focus on long-term growth and stability, thus restoring investor confidence. Boldness and farsightedness would be characteristic of the decisions he took in the ensuing three years. Rajan's commentary and speeches in I Do What I Do convey what it was like to be at the helm of the central bank in those turbulent but exciting times. Whether on dosanomics or on debt relief, Rajan explains economic concepts in a readily accessible way.

Equally, he addresses key issues that are not in any banking manual but essential to growth: the need for tolerance and respect to assure India's economic progress, for instance, or the connection between political freedom and prosperity. I Do What I Do offers a front-row view into the thinking of one of the world's most respected economists, one whose commitment to India's progress shines through in the essays and speeches here. It also brings home what every RBI Governor discovers for himself when he sits down at his desk on the 18th floor: the rupee stops here. Right here!

What will you learn from this book

  1. Economic Insights: The book provides insights into Rajan's views on various economic issues, including monetary policy, financial reforms, and the global economic landscape.

  2. Role of Central Banks: Rajan discusses the role of central banks, especially the Reserve Bank of India, in maintaining financial stability and fostering economic growth.

  3. Global Financial Crisis: The author reflects on the causes and consequences of the global financial crisis of 2008, providing his perspective as someone who accurately predicted the crisis.

  4. Inflation Targeting: Rajan discusses the concept of inflation targeting and its importance in managing monetary policy to achieve economic stability.

  5. Banking Reforms: The book covers Rajan's thoughts on banking reforms, including issues related to non-performing assets (NPAs) and the need for a robust banking system.

  6. Policy Challenges: Rajan shares his insights into the challenges faced by policymakers in addressing economic issues, both at the national and global levels.

  7. Public Policy: The author discusses the role of public policy in addressing social and economic challenges, emphasizing the need for well-thought-out and effective policies.

  8. Financial Inclusion: Rajan addresses the importance of financial inclusion and explores ways to bring a larger section of the population into the formal banking system.

  9. Globalization and Trade: The book likely covers Rajan's perspectives on globalization and international trade, considering the impact on economies and societies.

  10. Communication in Central Banking: Rajan reflects on the importance of effective communication in central banking, emphasizing the need for clear and transparent communication with the public.

Language English
ISBN-10 9352770145
ISBN-13 9789352770144
No of pages 344
Font Size Medium
Book Publisher Harper
Published Date 04 Sep 2014

About Author

Author : Raghuram G Rajan

5 Books

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