S. S. Tarapore Former RBI Deputy Governor is No More [ Current News (Concise) ]

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S. S. Tarapore a former deputy governor of the Reserve Bank of India (RBI) and Economist has passed away in Mumbai, Maharashtra at the age of 80 years. He was famously known for his strong views on issues ranging from inflation to capital account convertibility as economist.

About S. S. Tarapore

  • He had started his career in 1961 as a research officer at RBI and
  • He was appointed as Deputy Governor at demitted office in September 1996.
  • From 1992 to 1996 he had served as deputy governor of RBI when C. Rangarajan was the governor.
  • When he is serving as deputy governor, Indian economy saw the structural change as government had introduced economic reforms in 1991.
  • He also had leaded two eponymous Committees on Capital Account Convertibility and had laid down benchmarks of preconditions essential for India to move to fuller capital account convertibility, and based on the references of the committee, Foreign Exchange Regulation Act (FERA) was replaced with Foreign Exchange Management Act (FEMA) in June 2000.
  • For RBI and its autonomy he was the strongest defender.
  • He was loyal critic of the Financial Sector Legislative Reforms Commission (FSLRC).

- Published/Last Modified on: February 3, 2016