When and How did the death of KC Chakrabarty take place?
For what he was known for?
- He is well-known in India and around the world for his contributions to financial inclusion and literacy.
- He made contributions to banking regulation and supervision, microfinance institutions, bank customer rights, SMEs, and RRB reform during his time at the RBI.
How did he begin his career?
Chakrabarty was known for his wit and humor throughout his career.
Source: Amar ujalaWith his enigmatic, candid, and witty remarks on all things banking, he was a master at wooing the audience.
After an off-the-record statement made by an 'RBI official' about the RBI's inadequacy to contain inflation made the headlines, he was stripped of all his primary portfolios. He was in charge of the Rajbhasha, information technology, and customer service divisions. Even so, it didn't seem to dampen his spirits.
Following this incident, then-Governor D Subbarao said at a seminar that PSB CEOs deserved better pay. The next speaker, Chakrabarty, was asked if he agreed with the Governor. "You want me to disagree so I won't be left with even the Rajbhasha department?" Chakrabarty had said without missing a beat.
Many economists later changed their minds, claiming that the RBI was behind the curve in fighting inflation.
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