.........For a contemporary feel, the book brings into public glare a major controversial episode in the RBI’s early history—the disagreement between Sir James Grigg, ICS, the finance member of the viceroy’s executive council, and RBI’s first governor, Sir Osborne Smith. Sir James Taylor, who was RBI’s deputy governor then, was also from the ICS and the two seem to have ganged up against Smith, a professional banker. Interestingly, this episode barely finds mention in the official history of the RBI, which has chosen to euphemistically term it a case of “temperamental incompatibility”..........
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