Two Volumes of the Bank�s history have been published so
far. The First Volume covered the period from inception upto 1950 and was
published by the Reserve Bank of India in 1970. This history was prepared
by S.L.N.Simha under the overall Committee of Direction headed by the
former Governor, CD Deshmukh. The rationale for the choice of period was
that in 1950, India was declared a Republic. The year also coincided with
the launch of the first Five Year Plan, wherewith India embarked upon a
path of planned economic development.
The second volume of the Bank�s history covered the
period from 1951 upto 1967. The material for the second volume was
compiled by the History Cell which was headed at various points of time by
U.K. Sharma, S.N. Dalal and A.L. Verma. The volume was authored by G.
Balachandran under the overall guidance of the Committee of Direction
headed by the Governor, Dr. C. Rangarajan. Dr. C.J. Batliwalla was a
consultant to the Project. The Second Volume was published by the Oxford
University Press in 1998. The rationale for the cut off period of 1967 was
that it marked the beginning of a new phase in banking where thought
processes veered towards experiments with social controls and the later
the nationalisation of Banks which brought banking to the masses.
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