Died: Savak Sohrab Tarapore, 79, former deputy governor of the Reserve Bank of India (RBI) on February 2, 2016 in Bombay, following cardio-respiratory failure.
As executive director of the RBI at the time of India’s economic crisis in 1991-92 and as deputy governor from 1992 to 1996 Tarapore had worked closely with the RBI governor Dr C. Rangarajan through the balance of payments crisis and the financial reforms that followed. The Rangarajan-Tarapore combine gained fame for steering India’s monetary policy during one of the most difficult periods in India’s economic history and is considered to be the prime architect of the......