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Obit: S S Tarapore (1936-2016), the diminutive colossus

For the former deputy governor of the central bank, the RBI was not just another economic institution; it was the final frontier that kept fiscal policy in some sort of check.

S S Tarapore
S S Tarapore

Few people born after 1980 would know of S S Tarapore. He retired from the Reserve Bank of India (RBI) as deputy governor at the end of September 1996. When his last day at RBI ended, he refused the official car. He took the lift down, walked out of the gate, hailed a passing cab, and quietly went home. His finest years came when he served as deputy governor under C Rangarajan. The mutual understanding and respect led them to reform India’s financial sector and put it on a sound footing. He was, as many in RBI acknowledge, the central banker’s central banker, a man so ...