We remember him as an outstanding economist distinguished by his intellectual integrity, and more importantly, as a wonderful human being with disarming simplicity and endearing humility. The Reserve Bank has decided to institute this oration to honour the memory of Prof. Tendulkar, his contribution to the Economics profession and his association with the Reserve Bank.
The Supervisory Board submits proposals for supervisory decisions to the Governing Council. The Governing Council, in turn, can only agree or disagree, but will not be able to amend these proposals. If the Governing Council disagrees, it will be up to the mediation panel to resolve differences of opinion.