Book Description

This is the only authoritative history of the most important institution in India's economic development. Balachandran's book, meticulously researched and based on unrestricted access to the Reserve Bank of India's untapped records, completely covers the formative years after this nation's independence. Documented here (for the first time anywhere) is India's full-scale establishment of an institutional infrastructure for agricultural and long-term industrial credit and regulation banking. The book also takes a close look at India's external sector development. Finally, it explores the enduring relationship between the national government and the central bank. The depth and detail of Balachandran's work make this book a pioneering one. Students, researchers, and teachers of economics and modern Indian history--as well as bankers and journalists--will consider this volume essential.