.............There was a deep spring of talent within the central bank even after the initial economists left; there were men like M. Narasimham and V.G. Pendharkar. But the next big thrust came after C. Rangarajan left his academic career to become a central banker. Rangarajan was instrumental in encouraging a new generation of economists, so that the rethink of the very basics of monetary policy in the 1980s took place in tandem with the rethink on the other components of economic policy. Some names are worth mentioning: S.S.Tarapore, Anoop Singh, A.Vasudevan, S.L.Shetty and Narendra Jadhav, for instance...........
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