Reserve Bank Of India, The: Vol. 3 1967 - 1981

The Reserve Bank of India was set upin 1935, under private ownership. Its charter was to maintain the monetary stability of India. In 1949, it was nationalised. The RBI monitors India's monetary and exchange policies, and the borrowings of the central and state governments. Regulation of commercial banking is another key responsibility.This volume narrates in detail how the RBI coped with the changes that it was required to manage. It is a fascinating story of how policy was actually made during a very trying period in the country's history. The chapters dealing with the management of the external sector are especially revealing since not much has been written about that aspect so far.