Y.V. Reddy was the governor of the Reserve Bank of India between 2003 and 2008. He is currently patron of the Forum for State Studies. This is the second of an occasional series of articles on money, banking and finance. The first was "The Rupee as an International Currency".
In a democracy, should a central bank be autonomous or accountable? A middle ground and a balance has to be struck, The mix will depend on the legal system, traditions, and macro-economic context. In…
The internationalisation of the rupee is inevitable as the Indian economy grows. But currency internationalisation cannot be decided on one day and pursued the next. It comes about after a long…
