From Lehman to Demonetization

From Lehman to Demonetization

From Lehman to Demonetization is the epic story of banking in India in the last decade. The years from 2007 to 2017 were the most tumultuous and exciting time for this sector, which saw D. Subbarao, Raghuram Rajan and Urijit Patel as RBI governors working with finance ministers Pranab Mukherjee, P. Chidambaram and Arun Jaitley.

What a decade it has been-from India’s first MFI, SKS Microfinance, entering the capital market to the near death of the industry; the RBI giving the nod to twenty-three banks and becoming an inflation targeter; from 9 per cent economic growth for three consecutive years to the jolt of demonetization.

Featuring essays and interviews with the who’s who of this sector, including Deepak Parkeh, K.V. Kamath, Arundhati Bhattacharya, Chanda Kochchar, Aditya Puri, Shikha Sharma, Raghuram Rajan, U.K. Sinha and Viral Acharya, this book makes for a riveting read.

If you had to read one book on banking in India, let this be it!


K.V. Kamath

Tamal is a prolific writes well. He has a unique ability to be witty, pithy, sharp and tongue-in-cheek — all at the same time. Because of this, for a long time he has kept his readers hooked. He is a mythical bowler who can bowl left-handed, right-handed, fast, leg spin, off spin, googly, and every variation in between.


Viral Acharya
RBI’s youngest deputy governor post- liberalisation

A few Kishore Kumar songs on how monetary policy decisions can be announced

Raghuram Rajan
Former RBI governor

If you have paid attention elsewhere and if you are not completely naive, there isn’t a whole lot that is surprising or different. It is slightly different here inasmuch as there isn’t often a sense of urgency. Things that need to be done yesterday are still not done, in some cases. But that’s not surprising.