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'Who Moved My Interest Rate?' is the memoir of which former RBI Governor?
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Answer: Option B — D. Subbarao
Detailed Solution
Subbarao. "Who Moved My Interest Rate? Leading the Reserve Bank of India Through Five Turbulent Years" is a memoir by Duvvuri Subbarao, the 22nd Governor of the Reserve Bank of India (RBI). It was published in 2016.
About the book:
- The title is a play on the popular self-help book "Who Moved My Cheese?".
- It describes Subbarao's five years as RBI Governor (September 2008 to September 2013), which began just days before the collapse of the American bank Lehman Brothers and the global financial crisis.
- It explains how the RBI handled the crisis, high inflation, the slowdown in growth and the sharp fall of the rupee in 2013.
- It also describes his disagreements with the Finance Ministry over interest rates, and discusses the independence of the central bank.
About D. Subbarao:
- He was born in 1949 in Andhra Pradesh and studied at IIT Kharagpur and Ohio State University.
- He joined the Indian Administrative Service (IAS) in 1972 and served as Finance Secretary of India before becoming RBI Governor.
- He also worked at the World Bank.
His later books include "Just a Mercenary? Notes from My Life and Career" (2024).
Books by other RBI Governors:
- Raghuram Rajan (23rd Governor, 2013-2016): "I Do What I Do", "Fault Lines", "The Third Pillar".
- Urjit Patel (24th Governor, 2016-2018): "Overdraft: Saving the Indian Saver".
- V. Reddy (21st Governor, 2003-2008): "Advice and Dissent".
- Bimal Jalan (20th Governor, 1997-2003): "India's Economic Crisis", "The Future of India".
- D. Deshmukh: the first Indian Governor of the RBI (1943-1949).
About the RBI:
It was established on 1 April 1935 under the Reserve Bank of India Act, 1934, on the recommendations of the Hilton Young Commission. It was nationalised in 1949.
Its headquarters is in Mumbai. The current Governor (since December 2024) is Sanjay Malhotra.
Why not the other options?
- ✗Raghuram Rajan wrote "I Do What I Do".
- ✗V. Reddy wrote "Advice and Dissent".
- ✗Bimal Jalan wrote "India's Economic Crisis".
Quick tip
Remember: "Who Moved My Interest Rate?" (2016) = D. Subbarao (RBI Governor 2008-13, during the global financial crisis); "I Do What I Do" = Rajan; "Overdraft" = Urjit Patel; "Advice and Dissent" = Y. V. Reddy.
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Books & Authors — Preparation
This question tests your understanding of Books & Authors, a key topic in the General Knowledge section. The detailed solution above uses a step-by-step approach to show the reasoning, and where available, a shortcut that helps you solve similar questions in under 90 seconds during the actual exam.
This topic covers famous books and their authors, including ancient Indian texts, works of the freedom struggle, classic and modern literature, autobiographies of famous people, and recently published books by well-known personalities. Questions usually name a book and ask for its author, or the other way round. Ancient and historical books, such as Arthashastra (Kautilya), Indica (Megasthenes) and Gitanjali (Rabindranath Tagore), are tested most often. Autobiographies are another favourite, so learn titles such as 'My Experiments with Truth' (Mahatma Gandhi) and 'Wings of Fire' (A. P. J. Abdul Kalam). Practise the books and authors questions below, written in the style of the general awareness sections of exams such as SSC, banking, railways, CUET GAT, MAH CET and CLAT. Each question comes with a detailed explanation that adds related facts, so every question helps you revise more than one point.