After returning to India Professor Shenoy taught at Wadia College (Pune), Gujarat College (Ahmedabad) and University of Ceylon. He was associated with various Government Bodies of Ceylon (now Sri Lanka) including the Commission on Currency and Department of Commerce. In 1942 he was appointed Principal, L. D. Arts College, Ahmedabad and then joined the Reserve Bank of India in 1945. During his RBI days he was the Far Eastern Representative of the IMF (1948) and an Alternate Executive Director of IMF as well as of the World Bank (1951-53).
K.J.Udeshi, BCSBI (June 4, 2007) -
I am truly grateful to the Economics Research Centre, Mumbai for giving me the privilege to deliver the Professor B.R.Shenoy Birth Centenary Memorial Lecture. It is more meaningful to me because, he and I belong to the RBI family. Prof. Shenoy’s stint in the Reserve Bank of India (1945-1953) was, according to Professors Mahesh Bhatt and Mukund Trivedi a very fruitful period of his life in terms of intellectual and professional accomplishments. While I do recall meeting Prof. Shenoy’s family, when I was a child, it was only after I joined the RBI in 1965- long after Shenoy left the RBI - that I had an appreciation of his monumental contribution to Indian economic thought. His espousing of causes which were contrary to the popular fashions from the 1950s to the 1970s evokes great awe and respect. Despite being out of the pale of mainstream Indian economic thought, Shenoy made seminal contributions to the debate of his times. What is even more significant is that Shenoy’s prophetic advocacy on a number of issues relating to economic policy are of particular relevance even today. It is in this context that we have to pay homage to Professor Shenoy, the sage counselor who was way ahead of his times.
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