Chakravarthi Rangarajan - Notes on Reserve Bank of India

1. Dr. C. Rangarajan, is currently serving as Chairman, Madras School of Economics, Chennai. 2. He held various positions: 1. Chairman of National Institute of Public Finance and Policy 2000-2001 2. Deputy Governor of Reserve Bank of India from February 12, 1982 to August 20, 1991 3. ==Governor of Reserve Bank of India from December 22, 1992 to November 1997. Dr. Manmohan Singh was the then finance minister (1991 to 1996), who was also RBI's governor from September 16, 1982, to January 14, 1985. P. Chidambaram succeeded Dr. Singh as the finance minister of India.== 4. Governor of Andhra Pradesh from November 24, 1997 to January 3, 2003 with an additional charge of 1. Governor of Odisha from April 1998 to November 1999 2. Governor of Tamil Nadu from July 3, 2001 to January 18, 2002 5. Chairman of National Institute of Public Finance and Policy 2000-2001 6. Chairman of the Twelfth Finance Commission of India from 2003–2004 7. Chairman of the Prime Minister's Economic Advisory Council from 2005–2008 8. Member of the Rajya Sabha from August 2008 to August 2009 9. Chairman of the Prime Minister's Economic Advisory Council August 2009-May 2014 (until the UPA government was voted out of power) 3. This [page](https://www.mse.ac.in/dr-c-rangarajan/) has detailed profile https://www.mse.ac.in/dr-c-rangarajan/ ## Education 1. After obtaining his Honours Degree from Madras, he went to the University of Pennsylvania wherefrom he took his Ph.D degree in Economics. 2. In the U.S., he has taught at the Wharton School of Finance & Commerce, University of Pennsylvania and the Graduate School of Business Administration, New York University. 3. In India, he has taught at Loyola College, Madras; University of Rajasthan, Jaipur; Indian Statistical Institute, New Delhi and for well over a decade and a half at Indian Institute of Management, Ahmedabad (1968-82) . 4. He was for a time Fellow at the International Food Policy Research Institute, Washington ## Committees 1. Chairman, Committee to look into the Design of Future Production Sharing Contracts in Hydrocarbon Exploration. ( 2012) 2. Chairman, Committee on Deregulation of Sugar Sector (2012) 3. Chairman, Expert Group to Review the Methodology for Measuring Poverty. (2012) 4. Chairman, High Level Expert Committee to suggest measures for effective management of Public Expenditure, Planning Commission (2011) Chairman, 5. Expert Group to formulate a Jobs Plan for Jammu and Kashmir formed by the Prime Minister (2011) 6. Chairman, High level Committee on Estimation of Saving and Investment (2007- 09) 7. Chairman, Committee on Financial Inclusion (2006-08) 8. Chairman, Independent Commission on AIDS in Asia and Pacific, UNAIDS (2006-2008) 9. Chairman, Task force on Jammu and Kashmir, Constituted by PM (2005-06) 10. Chairman, Committee to Review the Statistical System in the Country (2000-01) 11. ==The High Level Committee on Balance of Payments (Chairman Dr. C. Rangarajan), constituted: on August 1992 and had submitted its report on January 10, 1993==. ## Speeches 1. A Synoptic View of the Twelfth Finance Commission’s Recommendations - Dr. C. Rangarajan, Chairman, Economic Advisory Council to the Prime Minister,at the 16th Bi-Annual Conference of the State Finance Secretaries Reserve Bank of India Mumbai on April 8, 2005|[Apr 08, 2005](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=193) 2. Ninth V.T. Krishnamachari Memorial Lecture on "The Role of Monetary Policy - by C. Rangarajan at New Delhi 11th November 1997|[Nov 11, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=252) 3. Indian Banking - Second Phase of Reforms - Issues and Imperatives - by C. Rangarajan at Mumbai on 6th October 1997|[Oct 06, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=243) 4. Indian Economy: Current Trends and Immediate Prospects - by C. Rangarajan at Ahmedabad on October 3, 1997|[Oct 03, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=246) 5. Governor's address at the Special convocation to confer the honorary title Fellow of the Indian Institute of Management Ahmedabad - by Dr. C. Rangarajan at Ahmedabad on October 3, 1997|[Oct 03, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=238) 6. Annual Meetings of the World Bank Group and International Monetary Fund - by C. Rangarajan at Hong Kong|[Sep 29, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=225) 7. Silver Jubilee National Convention and Third International Conference of the Institute of Company Secretaries of India by C.Rangarajan at Hyderabad - by C.Rangarajan at Hyderabad Aug 30, 1997|[Aug 30, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=259) 8. SBICAP Debt Market Seminar 1997 - by C.Rangarajan at Mumbai Aug 30, 1997|[Aug 30, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=256) 9. Inauguration of Andhra Bank Credit Card Transaction Automation Project - by C.Rangarajan at Hyderabad Aug 30, 1997|[Aug 30, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=242) 10. On the conferment of schedule status and successful completion of Mahesh Bank - by C. Rangarajan at Hyderabad Aug 29, 1997|[Aug 29, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=253) 11. Current Economic Trends at the All India Manufacturers Organisations - by Dr. C. Rangarajan at Mumbai on July 25, 1997|[Jul 25, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=229) 12. Second Annual Indian Stock Exchanges Summit, 1997 - by C. Rangarajan at Mumbai on May 27, 1997|[May 27, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=257) 13. Financial Sector Reforms: The Indian Experience - by C. Rangarajan at Kathmandu on 18th May 1997|[May 18, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=236) 14. Conference on Disinvestment: Strategies & Issues - by C. Rangarajan at Mumbai on February 5, 1997|[Feb 05, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=228) 15. RBI-BIS Seminar on Banking Supervision: RBI Governor stresses on capital for strong financial system - by Dr C Rangarajan at Mumbai|[Feb 03, 1997](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=255) 16. The Reform of the Financial Sector Choices and Lessons - Speech by C. Rangarajan|[Dec 30, 1994](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1190) 17. Imperatives of Banking in India - speech by C. Rangarajan|[Sep 05, 1994](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1183) 18. Valedictory Address by C. Rangarajan|[Aug 31, 1994](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1182) 19. The Indian Financial System: The Emerging Horizon - Speech by C. Rangarajan|[May 27, 1994](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1181) 20. The Credit and Monetary Policy for the First Half of 1994-95 - Speech by C. Rangarajan|[May 19, 1994](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1179) 21. Inaugural Address by C. Rangarajan|[Apr 02, 1994](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1178) 22. India Integrating into World Economy - Speech by C. Rangarajan|[Mar 23, 1994](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1176) 23. Role of Credit in Poverty Alleviation - Speech by C. Rangarajan|[Mar 17, 1994](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1175) 24. Developing the Money and Securities Market in India - Speech by C. Rangarajan|[Mar 09, 1994](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1177) 25. Monetary Policy Revisited - Speech by C. Rangarajan|[Feb 20, 1994](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1180) 26. Banking with the Poor - Speech by C. Rangarajan|[Jan 31, 1994](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1174) 27. India's Balance of Payments the Emerging Dimensions - Speech by C. Rangarajan|[Jan 18, 1994](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1172) 28. Banking Education and Training - Management of Dynamic Change - Speech by C. Rangarajan|[Nov 04, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1166) 29. Industrial Prospects and Opportunities during the Eighth Plan - Speech by C. Rangarajan|[Oct 26, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1164) 30. ==[[Treasury Bills (T-Bills)#^3a183a|Autonomy of Central banks]] - Tenth M.G Kutty Memorial Lecture by C. Rangarajan|[Sep 17, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1169)== 31. Insurance and Risk Management in a Liberalised Economy - Speech by C. Rangarajan|[Sep 01, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1161) 32. Speedy Payment of Remittances - Speech by C. Rangarajan|[Sep 01, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1163) 33. The Role of Non Banking Financial Companies - Speech by C. Rangarajan|[Jul 26, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1160) 34. Banking and Finance - Monetary and Fiscal Policies - Speech by C. Rangarajan|[May 21, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1159) 35. Growth of Computerisation in Banking industry - Speech by C. Rangarajan|[May 18, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1156) 36. Financial Sector Reforms and Banking Industry - Speech by C. Rangarajan|[Apr 23, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1158) 37. Keynote Address - by C. Rangarajan|[Apr 15, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1192) 38. Managing Competition: Success Strategies - Speech by C. Rangarajan|[Apr 09, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1191) 39. New Economic Policy and the Role of the State - Speech by C. Rangarajan|[Mar 08, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1154) 40. Banking Sector Reform - Speech by C. Rangarajan|[Jan 28, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1152) 41. The macroeconomic Scenario and Credit Policy - Speech by C. Rangarajan|[Jan 21, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1151) 42. Financial Performance of State Electricity Boards - Speech by C. Rangarajan|[Jan 09, 1993](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1150) 43. Recent Exchange Rate Adjustments Causes and Consequences - Speech by C. Rangarajan|[Aug 02, 1991](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1148) 44. Recent Monetary Policy Measures and The Balance of Payment - Speech by C. Rangarajan|[Jun 07, 1991](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1147) 45. Banking and Profitability - Speech by C. Rangarajan|[Jan 12, 1991](https://rbi.org.in/scripts/BS_SpeechesView.aspx?Id=1146) ## Books 1. Rangarajan, C. (2022). *Forks in the road: My days at RBI and beyond*. Penguin Business. 2. Rangarajan, C., & Dev, S. M. (2016). _Counting the poor in India: Where do we stand?_ Academic Foundation. 3. Rangarajan, C., & Srivastava, D. K. (2011). _Federalism and fiscal transfers in India._ Oxford University Press. 4. Rangarajan, C. (2009). *India: Monetary policy, financial stability and other essays*. Academic Foundation. 5. Rangarajan, C., & Kannan, R. (2004). *Select essays on Indian economy: Volumes 1 & 2*. Academic Foundation. 6. Rangarajan, C. (2000). *Perspectives on Indian economy: A collection of essays*. UBS Publishers' Distributors Ltd. 7. Rangarajan, C. (2000). *Structural reforms in industry, banking, and finance: A case study of India*. Institute of Southeast Asian Studies. 8. Rangarajan, C. (2002). *Leading issues in monetary policy*. Bookwell. 9. Rangarajan, C. (1998). *Indian economy: Essays on money and finance*. UBS Publishers' Distributors Ltd. 10. Rangarajan, C. (1982). *Agricultural growth and industrial performance in India*. International Food Policy Research Institute. 11. Rangarajan, C. (1982). _Innovation in banking._ Oxford and IBH. 12. Rangarajan, C. (Ed.). (1981). _Strategy for industrial development in the 80s._ Oxford and IBH. 13. Rangarajan, C., & Dholakia, R. H. (1979). _Principles of macroeconomics._ Tata McGraw-Hill. 14. Rangarajan, C., & Dholakia, R. H. (1974). _Short-term investment forecasting._ Macmillan. ## Interviews 1. Dev, S. M. (2025). An Interview with Dr C. Rangarajan. _The Indian Economic Journal_, _73_(1), 14-17. [Link](https://doi.org/10.1177/00194662241308683) (Original work published 2025) 2. Rajagopalan, S. (2023, April 13). _Chakravarthi Rangarajan on monetary policy after liberalization_ [Interview]. Mercatus Center. [Link](https://www.mercatus.org/ideasofindia/chakravarthi-rangarajan-monetary-policy-after-liberalization) ## Some Articles 1. Rangarajan, C. (2020, April 2). _Devil, us, the deep blue sea_. The Economic Times. [Link](/https://www.mse.ac.in/wp-content/uploads/2020/10/devil-us-ET-April-2.pdf) 2. [Articles By C Rangarajan in The Economic and Political Weekly](https://www.epw.in/author/c-rangarajan) 3. [More articles](https://mse.ac.in/dr-c-rangarajan/) 4. [Articles on Muck Rack](https://muckrack.com/c-rangarajan-1/articles) ## References 1. Finance Commission, India. (2004, November 30). _Report of the Twelfth Finance Commission of India (2005-2010)_. Retrieved November 10, 2025, from [Link](https://fincomindia.nic.in/commission-reports-twelfth) 2. Madras School of Economics (MSE). (n.d.). _Dr. C. Rangarajan_. Retrieved November 10, 2025, from [https://mse.ac.in/dr-c-rangarajan/](https://mse.ac.in/dr-c-rangarajan/) 3. RBI's website.