Common Voice falls silent

 

 

 

 

 

 

Title

Clipping of Indian National Press Bombay Pvt. Ltd. - The Free Press Journal - Mumbai Edition

Volume

2016

Issue

2/23/2016

Edition

http://epaper.freepressjournal.in/c/8425497

Ref Type

Web Page

Retrieved Date

2/23/2016

Source Type

Electronic

The content under this head is presented here from its original source (cited herein above) to offer a collection of tributes that appeared in various media houses in memory of Mr. S S Tarapore after he passed away suddenly on February 3, 2016. The following piece appeared in the newspaper 'Free Press Journal'.

By Jagdsh Rattanani & R K Pattnaik

Savak Tarapore, the genial and soft spoken economist who was Deputy Governor of the Reserve Bank of India and later went on to make a name as a writer and author, passed away this morning in Mumbai. He was 79.

Tarapore’s energy and drive to stand up for those who receive less attention, particularly in banking circles, was seen even when he worked for the RBI. He once recounted how he went to a bank branch dressed in a torn shirt, and the shabby treatment he was meted out at the counter.

Tarapore, who ran a syndicated column that was published in the Free Press Journal among other newspapers, stood out as an insider who always looked at issues and policy matters from the perspective of an outsider. He knew the issues as only a hard-nosed central banker could but he used that knowledge and insight to stand up and argue for the common man, the ordinary citizen who has little or no voice in matters economic and financial.

Tarapore’s energy and drive to stand up for those who receive less attention, particularly in banking circles, was seen even when he worked for the RBI. He once recounted how he went to a bank branch dressed in a torn shirt, and the shabby treatment he was meted out at the counter. This only confirmed his view that ordinary citizens receive less than fair treatment at banks, leading him to turn into a champion for the rights of customers.

At the RBI and among news circles, he will be remembered for his unflinching honesty and integrity, not only in his dealings but also in his writings and the arguments he put forth through the columns he so meticulously wrote and diligently sent out. Sometimes, the columns came from a hospital bed, but they always arrived and were always ahead of the deadline.

To the end, he was a simple person with high moral values.  His wisdom lay in monetary policy formulation. He remained steadfast against ballooning government deficits and the RBI accommodation of these deficits.  For him, price stability was the only overarching objective of the RBI for inflation hurts the poor the most. But whatever he did at the RBI, conceptual, institutional or operational, the credit always went to the Governor.

He will be remembered for his unflinching honesty and integrity, not only in his dealings but also in his writings and the arguments he put forth through the columns he so meticulously wrote and diligently sent out. Sometimes, the columns came from a hospital bed, but they always arrived and were always ahead of the deadline.

Tarapore retired as a central banker two decades ago but that day is still recalled by many who now occupy senior positions in the RBI. He gave a farewell speech, then called for a taxi and left without using the official car. Though he served long years at the RBI, he never again used the name, refusing to be referred to as even a former Deputy Governor. He only wanted to be called an economist, and that is how his columns identified him.

At the time of his passing, he was engaged in active deliberations with one of the authors here to help nurture and build a syndicate of columns that would give voice to positions and perspectives less seen or heard in the news media.

In the age of clutter and crowd, Tarapore was one leader who stood out by quietly doing his bit, and then going away equally silently.