Sir Chintaman stands out among them not only because he was the first Indian Governor of the Reserve Bank, but because he laid the ethical and intellectual foundations of central banking in India, and all of us, his successors have stood on his giant shoulders. 3.
A couple of months ago, I happened to visit the Reserve Bank’s Archives in Pune, and there I came across a letter from Prime Minister Nehru to Governor Deshmukh in 1948 expressing concern over the country’s deteriorating economic situation and asking for his analysis and guidance.