Earlier this year, when Y.V. Reddy, former bureaucrat and governor of RBI, announced that he was penning down a memoir, there was widespread anticipation. Understandable, given that during his tenure in the ministry of finance, RBI and the Finance Commission, he oversaw many rules being rewritten. Advice & Dissent: My Life in Public Service, while earnest, has been hailed as a rather reticent account of Reddy’s prolific career. At the book launch, on a rainy July evening in Hyderabad, when D. Subbarao, the former governor of RBI who took over from Reddy, sought Reddy’s reaction on this, he said, “I don’t think I was restrained in taking decisions, but putting it in public domain, I agree, I have been restrained.”
Reddy spoke to Business Today’s E. Kumar Sharma on the…