Two damning portrayals of Indian finance
A pair of former central bankers spill the beans
CENTRAL BANKERS who leave office often write memoirs. Few are as damning of the financial system they once served as Urjit Patel, the governor of the Reserve Bank of India (RBI) in 2016-18, and Viral Acharya, its deputy governor in 2017-19, who is now an academic at NYU Stern School of Business. In separate books, they tell stories of rampant government meddling in the banking system. Both stood down before their terms ended. Their books suggest why.
This article appeared in the Finance & economics section of the print edition under the headline “Silent no more”
From the September 5th 2020 edition
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