Who Moved My Interest Rate? Leading the Reserve Bank of India Through Five Turbulent Years by Duvvuri Subbarao

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...the most useful element of Subbarao’s book is his insider’s account of the international fight to restore stability in the years after the Lehman collapse...
-Financial Times

Synopsis

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. 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.
 

About Duvvuri Subbarao

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Duvvuri Subbarao served as governor of the Reserve Bank of India for five years (2008-13). Prior to that, he was finance secretary to the Government of India (2007-08), and secretary to the prime minister's Economic Advisory Council (2005-07). Topping the civil services examination in 1972, Subbarao joined the Indian Administrative Service. In a career spanning thirty-five years, he held various positions in the state Government of Andhra Pradesh and in the federal Government of India, and was actively involved in formulating and implementing economic and financial sector reforms at the national and subnational levels. Subbarao is currently a Distinguished Visiting Fellow at the National University of Singapore where he spends six months of the year.
 
Published July 24, 2017 by Penguin. 400 pages
Genres: Literature & Fiction, Business & Economics. Fiction
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Financial Times

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Reviewed by Simon Mundy on Jul 29 2016

...the most useful element of Subbarao’s book is his insider’s account of the international fight to restore stability in the years after the Lehman collapse...

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