He will be most remembered for bringing an end to automatic deficit financing and thereby for setting the course for independent monetary policy.   Dr. Bimal Jalan ably steered India to ensure that we were not affected by the Asian Crisis.
He focussed on consolidating the gains of liberalization and economic reforms including developing the trade sector and strengthening our balance of payments position.   My immediate predecessor in RBI, Dr. Y.V. Reddy carried the reforms process forward.