{"id":127563,"date":"2022-12-29T12:30:24","date_gmt":"2022-12-29T07:00:24","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=127563"},"modified":"2022-12-29T12:30:26","modified_gmt":"2022-12-29T07:00:26","slug":"a-book-titled-forks-in-the-road-my-days-at-rbi-and-beyond-by-c-rangarajan","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/a-book-titled-forks-in-the-road-my-days-at-rbi-and-beyond-by-c-rangarajan\/","title":{"rendered":"A book titled \u201cForks in the Road: My Days at RBI and Beyond\u201d by C. Rangarajan"},"content":{"rendered":"\n<p><strong>C Rangarajan authored a book titled \u201cForks in the Road:<\/strong> My Days at RBI and Beyond\u201d. It was published by the Penguin Business (Penguin Group). The book is the memoir of Dr C. Rangarajan, an Indian economist, a former Member of Parliament, and the 19th Governor of the Reserve Bank of India (RBI). It discusses India\u2019s transition from its post-independence planning era to the present times. There are three sections to the book. Parts 1 and 2 are titled &#8220;RBI and the Planning Commission,&#8221; while Part 3 is titled &#8220;Beyond RBI.&#8221;<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-december-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">December 2022 Current Affairs Quiz<\/a><\/strong><\/p>\n\n\n\n<p><strong>Essence of the book:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u2022 The seasoned economist and policymaker gives a fascinating story of his professional journey in this book, beginning with his quite accidental entry into the RBI in 1982. Rangarajan, regarded as one of the tallest figures in the history of India\u2019s economic reforms, provides crucial insights into the role he played as part of the team which initiated far-reaching reforms in India\u2019s economy in the early 1990s.<\/li>\n\n\n\n<li>The path-breaking reforms that he implemented during his tenure as governor of RBI included deregulation of interest rates, strengthening of the banking system by a gradual tightening of prudential norms, creation and nurturing of financial markets, giving them depth and vibrancy, shifting to market-determined exchange rates, making the rupee convertible on the current account and the cessation of automatic monetization of budget deficit.<\/li>\n<\/ul>\n\n\n\n<p>Rangarajan describes the key events between 1982 and 2014, particularly in the areas of money and finance, explaining not only what happened but also the motivations and processes behind them. As a public figure and an architect of economic change in India, he also ruminates about his interactions with both political and economic actors. Forks in the Road is not only a memoir of a man who shaped India\u2019s economy and positively impacted the lives of many, but also a fascinating account of India\u2019s growth story. It is a description of what we did and what we did not, and where we succeeded and where we failed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>C Rangarajan authored a book titled \u201cForks in the Road: My Days at RBI and Beyond\u201d. It was published by the Penguin Business (Penguin Group). The book is the memoir of Dr C. Rangarajan, an Indian economist, a former Member of Parliament, and the 19th Governor of the Reserve Bank of India (RBI). It discusses [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":127564,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4992],"tags":[4935,4919],"offerexpiration":[],"class_list":["post-127563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-december-2022","tag-books-and-authors","tag-persons-in-news"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/127563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=127563"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/127563\/revisions"}],"predecessor-version":[{"id":127565,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/127563\/revisions\/127565"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/127564"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=127563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=127563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=127563"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=127563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}