At a time when the country is waiting to know who will succeed Raghuram Rajan as the Reserve Bank of India Governor, his predecessor Duvvuri Subbarao’s memoirs, revealing a turbulent relationship with two Finance Ministers of the time — P. Chidambaram and Pranab Mukherjee .

• In his book, Subbarao has revealed several instances, where he had direct confrontation with former finance ministers, P Chidambaram and Pranab Mukherjee and how the UPA-government trampled the economy of the central bank during his term and how unhappy he was about such interventions.In the biography titled “Who moved my interest rate?” Mr. Subbarao writes about his five years at the country’s central bank, between 2008 and 2013.
• The Chidambaram-Subbarao differences on policy matters became open when Chidambaram publicly said in October, 2012 that “Growth is as much a challenge as inflation. If the Government has to walk alone to face the challenge of growth then we will walk alone.” This statement came within hours after Subbarao, the then governor, refused to cut the policy rate despite public demand in the half-yearly review of the monetary policy, to continue with the fight over inflation.

Duvvuri Subbarao : –

Duvvuri Subbarao was born on 11 August 1949 ,is an Indian Economist, Central Banker and Civil Servant. He was the 22nd Governor of Reserve Bank of India, served under Prime Minister Dr.Manmohan Singh.

• Subbarao’s hometown is Eluru in West Godavari district, Andhra Pradesh. He did his schooling from the Sainik School in Korukonda, Andhra Pradesh. He graduated in Physics Sc Hons. from Indian Institute of Technology Kharagpur.
• Dr. Subbarao worked as the joint secretary in the Department of Economic Affairs, Ministry of Finance, Government of India between 1988 and 1993. Subsequently he became the Finance Secretary to the Government of Andhra Pradesh between 1993 and 1998.