This book is undoubtedly a work of encyclop?dic proportions, which only a master of the subject will dare to undertake. We central bankers owe a deep debt of gratitude for Vasudevan’s efforts. Virtually no important aspect of central banking is left out… …Vasudevan’s tantalising voyage through the theory and practice of central banking is a path-breaking and salutary effort. It deserves to be a manual for the modern central banker and those outside who wish to unravel the traditional mystique of monetary or economic policies…. …Vasudevan’s treatise is a delightful read for all who are seriously interested in central banking. I enjoyed the intellectual prowess of the writer.
ABOUT THE AUTHOR A. Vasudevan
Dr. A. Vasudevan, currently Honorary Advisor in the Reserve Bank of India, was Executive Director of the Reserve Bank between May 1996 and end-August 2000. As the Executive Director, he was in-charge of research, statistics, monetary policy and information technology departments. He has had vast international experience — Advisor to Executive Director for India at the International Monetary Fund (IMF) between 1984 and 1989; Member of the Indian Delegations to semi-annual IMF/ World Bank and G-24 meetings between 1984 and 1989 and again between 1993 and 2000; represented India at the UNDP Conference on financing of sustainable development at Santiago, Chile; Central Bank Deputy at the Group of Two Deputies’ meetings; and Member of the Task Force on Implementation of Standards and the Follow-up Group on the Implementation of Standards, appointed by the Financial Stability Forum. Among the several Committees on which he served, the important ones were: Expert Group on Saving and Capital Formation in India, Government of India, 1996 (Member), the Working Group on Money Supply, Reserve Bank, 1998 (Vice-Chairman), and the Committee on Technology Upgradation in Banking Sector, Reserve Bank of India, 1999 (Chairman). Apart from the present volume (edited by him), Dr. Vasudevan has recently authored Central Banking for Emerging Market Economies (Academic Foundation, 2003). Described as a “path-breaking work†of “encyclopaedic proportionsâ€, within a short time-span this publication received extraordinary praise in several reviews across leading newspapers and journals. Having authored/edited a few other books earlier, Dr. Vasudevan has numerous scholarly writings of his own in various professional journals, both Indian and foreign. He also taught M.A. students at the University of Bombay (1966-69) on the theories of money and economic development and central banking. Currently Dr. Vasudevan is engaged in writing the history of Reserve Bank of India — a task he has been entrusted with by a committee of the central bank, chaired by Dr. C. Rangarajan.
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