Central banking in a planned economy: the Indian experiment

This book, by integrating the fields of central banking with economic planning in developing nations, presents a new understanding of the dynamic role which a versatile and percipient central bank can play to aid the process of economic growth. It endeavours to explore how the Reserve Bank is drifting steadily from its orthodoxies to bolder policies of monetary administration in order to suit the structural. requirements of a planned economy like India..
The first part of the book attempts to analyze the regulatory role of the Reserve Bank of India in maintaining monetary stability. The second part makes a critical appraisal of its promotional and developmental roles. The third part discusses in detail the political role of the Bank with special reference to its changing relationship with the public, politics, political authorities and the Government.

This book, above all, is the result of research carried out by the author and is partly the product of practical knowledge of more than half a decade in the functioning and working of the Reserve Bank of India. It meets the needs of banking institutions to provide an authoritative text for trainees at the staff zonal training centres. It wing colleges or also prove indispensable for the C.A.I.I.B. examinees, for postgraduate students of monetary economics and in fact, anyone who seeks to understand the basic issues in developing economies and the ways in which monetary policy can stimulate economic growth.