"Atharintiki Daaredi" (Telugu) Movie Review

"Atharintiki Daaredi" is a smashing film power-packed with terrific performances by Power Star Pawan Kalyan, Nadia, Rao Ramesh, Brahmanandam, MS Narayana and Ali. It is definitely the most awaited film of the year because it involves star director and ace wordsmith Trivikram who can make the screen dance with his style of comedy, emotions and words that stir your senses. After a long drought since Ravi Teja's film, Tollywood's magic comes back with "AD" and credit must go to the entire team that made a family entertainer dripping with action, comedy, romance and emotions. 

"Atharintiki Daaredi" is a familiar phrase in Telugu which is played with babies held up close in arms - it begins with a few poetic lines and ends with an affectionate hug that tickles the baby. The film also oozes out the ticklish tone filled with one man's quest to find a place in the hearts of the people residing in his paternal aunt's home in India.  Siddhu (Pawan Kalyan) is the heir to a billion dollar industrial empire in Milan, Italy run by his father (Mukesh Rushi) and grand-father (Bomman Irani). His grand-father has become a vegetable on a wheel-chair but his only wish in life is to see his daughter who he threw out of his home because she dared to marry someone despised by him. That couple, Nadia and Rao Ramesh, now live in India with a huge family and their pretty daughters - Samantha and Praneetha. Pawan Kalyan vows to get his aunt back to see his grandfather. How does Pawan Kalyan charm the household by first masquerading as a Chauffeur and later on, as Siddhu as his aunt already knows is the story with a narrative that runs like a non-stop comedy show with a rich assemblage of characters  - the usual characters seen in a Trivikram film except two missing members - Tanikella Bharani and Dharmavarapu Subramanyam. A major plus is the music by DSP, almost all the songs including the one sung by Pawan Kalyan are hummable with high melody score, one song that shows DSP on screen with Pawan borrows the kinky style of Ilayaraja in one "Charanam".

Trivikram has returned to a thorough family theme that shows only the non-invasive villainy for the sole purpose of showcasing Pawan Kalyan in some fabulous stunts. Otherwise, the film doesn't have villains in a conventional sense, most of the screenplay is between the central characters of Pawan Kalyan, Nadia, Rao Ramesh and Bomman Irani. That's a healthy comeback for Trivikram because that puts him miles ahead of the rest of the pack of directors who tend to be caught up with crass commercial sensibilities. A Tollywood film today runs on few pillars  - narrative that runs with a straight bat, comedy that fires on all fours, characterisation that can run its full course with consistency and distinctiness for each principal and peripheral character that shows up as minutes pass, screenplay that ties you to your seat, technical mastery over the aspects that make up the medium- cinematography, shot selection, logicality, editing, aesthetics and of course, music. Besides all these, dialogues that sync so well with the many worlds we live in daily life. In almost all these aspects, Trivikram has been a pro who is at the peak  and this film is a fine showcase to all those who want to see him taste mega success. The thing with Trivikram, I noticed from his first film (Is that a film with actor Suresh, "Praarthana" or Venu ("Churunavvutho"?) that he has this ability to weave a narrative with a built-in thermostat that guides when to explode and when to stay under a leash, it is almost like a sleeping volcano that erupts only at the cusp of a major twist or defining moment of the story. Even if his filmography in the earlier films have been occasionally nativised adaptations from Hollywood films or best-seller novels ("Manmadhudu" was a Mel Gibson film, "Athadu" was a Sylvestor Stallone film, "Nuvvu Naaku Nacchaav" was a Ben Stiller film; try google out yourselves), his films have a shelf life that ensures repeat magic on successive telecasts on TV or your own DVD re-views. In this film, Trivikram falters only with editing  - he might have had constraints in chiselling huge portions which do not add value like that club song with Mumtaaz or those long Brahmanandam tracks which could have got shorter to make a point. Clearly, 169 minutes is a bit long even if the director, to quote his own words in the film hasn't told a "story of Ben Hur in Burra Katha format". 

Trivikram has ensured every character in the film gets a line that makes them stand out. For a change, he has breathed new life into the characters of MSN and Ali. Nadia as the title character "Athagaaru" has given a stylish and dignified performance making her role one of the most nuanced "Aunt" roles in Telugu Cinema, never once loses class in her portrayal. Rao Ramesh gives another well-articulated performance, he and Pawan Kalyan together get the best lines of the film, but more on Pawan later.  Brahmanandam's performance is sometimes puerile sometimes garrulous but overall just-above average. His best laughs come in the elongated skit of Ahalya, Gautama and Indra. Between Samantha and Praneetha, Praneetha has a better screen presence and looks more gorgeous even if she appears in one song. Samantha will fade out faster than a one-trick pony at this rate of exposure, pun unintended, even if she is a lucky mascot.

Pawan Kalyan seems to have a magical chemistry with Trivikram that sets the screen on fire. As a practioner of Vipassana meditation, martial arts and Zen Buddhism, Pawan has shown a lot of class, effort and style in this role with a body language that's a hit with his fans. His dialogue delivery has been a unique trademark that pack a punch in every scene, of course penned by the director; he seems to have outgrown some of his whimsical mannerisms as he gets quite comfortable under the skin of roles of a lover boy, responsible heir and a star performer amidst other comedians. His dancing skills, surprise, have also improved considerably even if he chooses to uncomplicate his movements, its a sign of a maturing actor who is aging but at peace with his world and his body chemistry. If "Jalsa" has been voted one of the best all-time Telugu hits, then "Athaarintiki Daaredi" will be another feather for Pawan Kalyan because his contribution if the film does well will be huge. Obviously, he has developed as an actor a quixotic mixture of non-chalance, innocence, poise and confidence that can sometimes ooze out more doses but so what if the fans like him. He has experimented with choking scenes in "Teenmaar" and he repeats more in "AD" which will connect with families well. In quite a few scenes of "AD",  like in "Jalsa", Pawan shows a repertoire of improvisations in acting that make him an explosive actor almost impossible to predict. His stunts have always held out a special charm because he is a warrior of sorts in real life too. In this film, Peter Hein composes stunts but the best stunts come later, the first two stunts are wasted. There is a jingle thats already popular sung by Pawan Kalyan himself in the film thats uproarious and electrifying that comes at a particular climactic comic scene with Brahmanandam. 

"AD" bears the stamp of Trivikram and the magic of Pawan Kalyan and makes it a riot  that will make it one of the most watched family entertainers ever. It is generally clean, upholds the traditions of entertainment of Trivikram  (even if some themes recur from his earlier films) and gives a rich treat of wholesome family fare. The triumph of this film will ensure directors and producers pay special attention to family themes. At a time when Telugu pride is wounded and at an all-time low, this is a proud showcase for a fun-filled, chimerical entertainer that makes you cry and laugh out loud.  My rating: 4.25/5

"The Lunch Box" (Hindi Film Review)

Some films are born great, some films have greatness thrust on them and some films attain greatness, to borrow a bard's phrase. "The Lunch Box" is a film that is earmarked for greatness because of a mesmerising story, bewitching script, almost flawless execution and a starcast that comes tailor-made. It has already been premierred on most film festivals from Toronto to Cannes and has won rave reviews before being showcased in India.  Director Ritesh Batra has given one of India's finest film in years with a story that is as improbable as a six sigma error in the delivery system of the famed "Dabbawallahs". 

The six sigma error is  what changes life for a middle-aged wife Ila (Nimrat Kaur) when the lunch box that she packs with utmost affection and consummate culinary skills gets swapped by the Dabbawallahs with a box that reaches one Mr Fernandez (Irrfan Khan) who is on the verge of retiring as a Senior Accountant in an Insurance Company. He has a new under-study Nawazudding Siddiqui who is deputed by the owner to learn the ropes quickly. A subtle romantic track develops between the exchange of the "Dabba" between Irrfan Khan and Nimrat Kaur every day, appendixed with handwritten letters inserted in the box. "The food was tasty but salty" and other inane messages soon develop into gut-level communication between two adults caught in their own worlds of loneliness and desperation; Nimrat has a happy home with a school-going girl and a workaholic husband who is insensitive to her, her sole refuge is an elderly neighbour Aunty who stays one floor above her flat but helps her with all the recipes and the sage counsel she needs. Irrfan, on the other hand, is a loner (lost his wife) who is good at work but unfriendly coach to over-enthusiastic Nawaz. His zest for life and empathy for others including kids who ball around in his home environs were inscrutable, until  both Nimrat through her tasty cooking and Nawaz through his simplicity and cheerleading enthusiasm  mend Irrfan's mental makeup for better. 

The film builds up in 110 minutes of pacy narrative with sharp characterisations. Ritesh Batra has earlier made a documentary on "Daabwallahs"; now he creates a story of a lunch box mistakenly delivered by them. That could be a reason to fuss and file defamation charges from the gangs of dedicated workers who were invited for Prince Charles's wedding and etched into a Harvard case study. But the film stands out for transmitting the DNA of the times, for telling a story with a freshly different pair of Director's eyes, without pretensions, different values and uninhibited by the compulsions of cinema. Entirely shot in Mumbai's local trains and the nerve-center of Mumbai's concrete jungles of Malad and Dongri, there must be around 350 picture shots that make you live in the office and residential spaces of a society that thrives on chaos, packed with people like swarms of bees yet friendly and humane. Soundtrack of the film is by some foreigner, makes a point with regular musical instruments at just three to four instances in the film but by and large relies on the natural sounds of the deafening dins of moving locals, orchestral nature of an office canteen bustle. Occasionally, the kids on the moving locals break into a hit Kumar Sanu song and that becomes a lead sound track for the next few scenes. 

Personally, I felt a cute connect between visual and verbal literacy in this film. At a time when the biases of the film-makers are mostly towards song-and-dance and surrealistic and loud entertainment, Ritesh Batra re-creates a story that gives out as much from the imagery as from the words spoken by the three main characters - Irrfan Khan gives his best messages to Ila only in English and he gives almost a Thoreau-like commentary on issues of happiness and misery, Nimrat Kaur (that Cadbury girl caught in traffic jam with a mouthful of Five Star) is innocent, adventurous and vulnerable at the same time. Nawazuddin Siddiqui is at his entertaining best rubbing shoulders with an elegant Irrfan but has occasionally stolen the thunder; all three characters speak as much with words spoken as with their body language. In that sense, the verbal literacy is probably taken to newer highs than the visual literacy of the film. References to the 80s TV classic, "Yeh Jo Hai Jindagi" and old victorian values of diligence and restraint are messages the director wants the audience to take home despite an ending that is not so poetic. There are references to Bhutan's Gross National Happiness as opposed to our own GDP fixation.

When a film's reputation darts faster than the buying interest in India, you have to expect the Goliaths of the industry to rally behind it. No wonder, "The Lunch Box" is now a collaboration of Indo-German-French productions and the two Goliaths here are Karan Johar and Ronnie Screwala. That must give all the push needed to qualify this as India's sole entry to the Oscars. Because of the screenplay and the pacy narrative, you wouldn't feel bored even for a second. But there are flaws in this notable experiment, mostly loose ends the director forgot to tie in his stickiness to the main storyline. When Ila's husband tells her why she is making Aloo Gob every day for lunch, we don't get that. When the Dabbawallah refuses to accept the mistake of  swapping of boxes, he doesn't give a credible answer but a Harvard student might know what the director concealed. Again, not once does it occur to the two characters corresponding over lunch box to connect with the new modes of mobiles and emails. One more, Ila discovers she is trapped in a sex-less marriage because her husband is having an affair, but that is left unconfronted till the end. Obviously, there are quite a few gaffes in a film that seeks to break new ground in story-telling. But as the line in the film goes, sometimes, " A wrong train also can take you to the right destination." Ritesh Batra and team deserve a thumping watch for "The Lunch Box". My rating is 4.75 out of 5. 

Dr.Subramanian Swamy's speech at Hyderabad

Dr Subramanian Swamy is blessed with an intellect that is sharper than his age and has a wit that is trained to take jibes at opposition members. It used to be Congress-I most of his career and now in his new hat at BJP, he shows an unrelenting fervor to diatribe against the misdeeds of the  UPA-I and II government.

I showed up at 10.30 am at Public Gardens for Dr.Swamy's speech but for a change he chose to be unpunctual or atleast the organisers of BJP have miscommunicated the time of starting. It started at 11.15 am or so.

The topic of the talk today was "The Decline of the Rupee under UPA-II". Quite a heady topic and a relevant topic. He divided his speech into four parts - First part covered the fall of the Indian Rupee (INR) against the US Dollar (USD or Dollar) all through the Congress years. Second Part covered the main reasons for the fall of the Rupee. Third part covered the blatant corruption that has grown under Congress regime. The last part was focusing on whether Indians should live on hope and what we should learn from these misdeeds.

First Part

Dr.Swamy was clear that the present decline of the Rupee was not isolated to the current regime of the UPA, it started right after Independence of India because of the lopsided model adopted by Nehru as Prime Minister. Nehru suggested we follow the soviet model of industrialisation, but the Soviet model was suited for a different country - it meant agricultural resources being harnessed from agriculture and funnelled into heavy-duty industrialisation. But the Indian adaptation was inadequate -  most of the resources were already depleted by the British and hence it proved a faulty model right from the start. Soon, the industrialisation turned into a slow process and within few years after Independence, in 1957 or so, Dr Swamy said Nehru fixed the exchange rate of INR at 4.50 to a dollar. It declined rapidly ever since. 

It declined further during Indira Gandhi regime and improved once during Morarji Desai's rule when INR appreciated from 8.75 under Indira's regime to 7.75 to a dollar. All along we have had fixed exchange rate. The situation deteriorated all through the seventies and eighties even under Rajiv Gandhi government. The only other time that the Rupee appreciated was during PV Narasimha Rao's regime. Dr.Swamy quipped that the choice of PVNR was itself an improbable one in the 90s in the aftermath of the assassination of Rajiv Gandhi; Rahul and Priyanka were too young and Sonia wanted to keep someone who is bound to go in six months. Dr Swamy pointed that much to her chagrin, Sonia Gandhi found that PVNR was getting hale and hearty after getting the Prime Ministership. PVNR is indeed the real architect of the reforms as he appointed Dr Manmohan Singh as the FM and several other talents in the ministry of improved sentiments. At one moment, Sonia Gandhi was getting so frustrated with PVNR's rising stature and statesmanship that she even asked him to announce resignation from President post of the Party. PVNR said it is well within the precedents of the Congress Party since the times of Nehru and Indira for PM to also hold the Party post of Presidentship. That was when Sonia's aides engineered the split in the party, the Tiwari Congress to weaken PVNR's hold. Dr Swamy also forgot to mention the famous Harshad Mehta scam in which PVNR was falsely implicated. Dr Swamy said that the way PV Narasimha Rao was treated is the shabbiest chapter in Indian politics; he has given one of the best administration and set the base for India's liberal reforms forever. For all that, PVNR became a footnote and a pawn in party politics. Dr Swamy assured the audience that whenever the next non-Congress government is formed, they will like to award Bharat Ratna to PV Narasimha Rao for his stellar contribution to the country. By contrast, Mr Singh is like the "Sing" in circus which dances to the tunes of the Ring-master who is Soniaji, said Dr Swamy. He once asked Dr Manmohan Singh what is the meaning of 2G. Dr Singh said it is nothing but Rahulji and Soniaji. Back to currency rates, when BJP ruled later under Vajpayee, INR touched 41.31 but depreciated a mere Rs.4.50 to a dollar, thats about ten percent.

Second Part

Talking about the current decline of the Rupee, Dr.Swamy said it is  no surprise that it has depreciated more than 25 per cent in the last few months and it is a combination of atleast three or four factors, which will be enumerated later. Dr Swamy emphasised an opinion that by the end of September, INR will touch 75 to a dollar because of a vortex of complex factors at work which were always initiated during UPA rule. He said Currency Rates are a function of demand and supply. The higher the supply of dollars, the lower will be the dollar to a rupee and vice-versa. Hence, in today's scenario, rupee is plummeting against the dollar because there are more rupees in the system than the dollars and we are all importing mostly useless items which are not made in India. 

First reason according to Dr Swamy is the price paid for telecom scams. Because most the Indian players who won the bids paid huge money to their foreign companies like Swann Telecom, Docomo etc.for the licenses, and the stakes are all split between the culprits all the way from Raja to Soniaji, Dr Swamy said the current exchange rates are favoring payment of royalties/ payments/considerations for the foreign companies in dollars which is creating a huge demand for them as against Rupee payments. Similarly, there are scams in Coal, etc. which is creating a huge vacuum in the country in terms of credibility and huge question marks on the government's role in corruption.

Second reason is the commonly debated point, of late, that rupee is hitting new lows because of the need to wire back the Swiss Account money of politicians close to Rs.70 lakh crores sitting outside India which is coming back to India at these high levels of exchange rates. Contrary to normal practice, Dr Swamy says the Swiss Banks actually charge service fees on the accounts held by Indians, they don't pay interest to the account holders as it is all unaccounted money. So, it is actually a jackpot for Swiss Banks to charge atleast 2 per cent service fees and then invest the money in USD Treasurys fetching 4 per cent yield, earning a whopping 6 per cent return in dollar terms. So, the UPA government politicians feel it is better for this money to come back to India rather than sitting idle in Swiss Bank Accounts. Hence, another case for a massive Rupee depreciation. Dr Swamy says, even the Finance Minister Chidamabram has a list of all the Hawala Agents in the country who are facilitating this massive trade right now at these elevated levels of exchange rates.

Third Reason, according to Dr Swamy for the Rupee Depreciation is P-Notes, Participatory Notes. Only Indian Passport holders, he says, avail of these instruments. An example of how this works, he says, goes like this. An Indian walks into a branch of Fidelity, Morgan Stanley or GoldmanSachs in a New York office, produces his Indian passport office and then gives them a stash of cash. Against this pile of money which is usually black money in Rupees, the firm will start trading on the client's account, kept confidential, in the Indian stock markets, sometimes over-trading but mostly generating more cash through legal channels of portfolio investments. Dr Swamy says, the rule is simple: pay in Rupees, get back in dollars. Another reason why demand for dollars will shoot up. Dr Swamy said P-Notes are the worst instrument available for creating unstability in Indian financial markets. He said even the Tarapore Committee has recommended for abolition of PNotes for the damaging effects on the stock market cycles but the government doesn't care. He also said Mr MK Narayanan, the National Security Advisor also was of the view that P-Notes are dangerous for India but the UPA Government is behind this P-Note business, he says and hence are unable to abolish them. He said many of the Indian companies have offices in Mauritius, in the same street, in the same building, in the same block, in the same room, which is usually locked up - which is creating funnels for money coming back through P-Notes. The Government   and the FM are aware of this but do not raise an eyebrow to stem the rot. P-notes are one reason the Government has destroyed genuine stock market cycles for wealth creation. Today, the Middle classes have left the stock market because of negative returns. P-notes are the only reason, he says, that Indian Passports are relevant for participation in them.

The last reason, as per Dr Swamy, is the massive punting  - aggressive short-selling by Mr Karthik Chidambaram, son of FM Chidambaram in a nexus of operations in Dubai and Singapore on the Rupee at levels above 75 to a dollar, which means, if Rupee appreciates, he will get wiped out of the short-selling and derivative trades. Dr Swamy said that the son of FM has gone so aggressive on these trades outside India sitting on the fringes of Singapore and Dubai that the shorts have become too strong for any recover of Rupee against the Dollar. Dr Swamy said all it takes to wipe this speculator son out of bounds is to allow RBI to pump in about $ 20 Billion to kill the speculators. He said RBI can easily manage to quell this trade out of its Forex kitty of $ 277 billion but the Government of India is not allowing because of FM Chidambaram. Instead of doing this, the FM and the PM are talking about time-pass measures like laying hands on the Tirupati Gold or Anant Padmanabhaswamy temple gold etc. Dr Swamy said we all know what happened to the government when they tried to tinker with RamSethu bridge. He said that considering the coal scam is itself Rs.4 lakh crores and our total tax receipts is in the range of Rs.4.5 lakh crores, there is no need for levy on Temple Gold reserves etc. and we needn't even levy any taxes because the Swiss kitty is itself Rs.70 lakh crores. Back to the Rupee, Dr Swamy said if the RBI is allowed to intervene with just $20 Billion out of its Forex Reserves, the trades of Karthik Chidambaram will end, and INR may even touch 50 again.

Against the backdrop of so many scams, Dr Swamy says people like Kapil Sibal still say there is zero corruption in telecom scam or anything. We should believe him, Dr Swamy said, because Kapil Sibal cannot count anything beyond zero! Talking about Chidamaram, Dr Swam said he is the most corrupt man in the country, probably next to only the Italian Matha. Not just that the FM is allowing his own son to punt on the national currency on short-selling spree but Chidambaram is the biggest culprit on many other issues and scams. Dr Swamy said he was happy with the stance taken by RBI Governor in his farewell speech blaming the fault lay with the government measures not with what the RBI has done so far. Dr Swamy said he has tried so many ways in which to legally prosecute Chidambaram for his follies but he has been escaping all of them because he is also a lawyer. But he said, there are enough time-bombs planted by Dr Swamy to bring Chidambaram to justice. He said, sooner or later, he will get the FM to the jail as even Raja has not escaped in the past. Dr Swamy said that the Cook of Tihar jail was complaining that he can prepare only Aloo Puri but ever since so many Madrasis have been transferred to Tihar jail, he is forced to cook more of Masala Dosa, Idly and so on instead of his staple fare. Dr Swamy said he has advised the cook to learn some Italian Pizza also just in case...!

Third Part

Having delineated the reasons for the decline of the Rupee and giving the backdrop of UPA's colossal failures, he said the reason for the unprecedented corruption in the country is the greed of the politicians and the greed of the people. He recalled that when he attended the Harvard University, one of the professors asked him about Mahatma Gandhi - that he wore so less clothes. Dr Swamy said that is the civilization of India -because here the virtue lies in renouncing everything and sacrificing your luxuries. He pointed out that, compared to Indians, Americans in particular and Westerners in general gave too much importance to luxuries and dressing sense and minor points. He said if you look at the Pope, he is dressed in so much opulence unlike others in India. Dr Swamy recalled that once in a famous presidential debate between Nixon and Kennedy, Nixon lost the vote because in that debate, Americans noticed that Nixon hasn't shaved properly. In summary,Dr Swamy said that Indians were always living in simple means and that will steer us to better times away from corruption. For instance, Railway Reservation system used to be corrupt but not any longer as corruption levels have drastically come down.

Last Part

Dr Swamy, in this part, moves from the topic of Rupee in Decline to the part on what to look for in future amidst so much negativity. He said that of all the 46 civilizations that we read about in World History, 45 of the ancient civilizations has perished but India is still suriving because of our courage and the will to stand up against opposition. Examples, Rana Pratap Singh, Jhansi Lakshmibhai, etc. We must never lose of this courage and the will to act, dr Swamy said. Conversions to other religions have happened for centuries in other parts of the world but India still remains Hindu upto 80 per cent. Persia used to be the land of Zorastrians but this has become muslim. Eurupe was converted into Christianity in less than 150 years and so on.

So, many forces are at play, he says, which are trying to destabilise India but we must not lose courage and optimism. A person like Julia Roberts has embraced Hinduism which speaks of the uniqueness of our culture, he says.

In short, another persuasive oration from Dr Swamy on a relevant topic with the usual nail-biting observations and sweeping conclusions. He said that the glory will return when this government is over-thrown.

Note: All the views expressed above are paraphrased based on Dr Swamy's speech today. He spoke in Hindi and I have merely translated the speech in English. I have not added my commentary on the speech nor verified the veracity of its contents. 

 

 

Duvvury Subbarao's farewell speech puts RBI on top.

RBI Governor Mr Subbarao may not have earned the popularity that other Governors have earned but that maybe more because of the misgovernance of the UPA Government. Subbarrao's biggest follly is that he tried to fight the wrong dragon (inflation) while killing growth. But the dilemmas of Modern Central Banking in Emerging markets is getting tougher by the day. I have interacted with atleast two deputy governors (S.Venkitaraman, S.S.Tarapore) and one RBI Governor Dr.YV Reddy (I was travelling first-class next to him in a flight from Mumbai to Hyderabad). The minds of these people are quite different from the minds of businessmen and professionals and housewives and students in our midst. They have to track so many variables and have to take decisions that may not be pleasant to most people and yet be guided by impact on the society as well. While I will share my experiences of my interviews with such top-brains later, this one is to put in right perspective the achievements of Subbarao after his farewell speech recently.

1. He has extended the streak of fearlessness and autonomy set forth by the preceding Governor Dr.YV Reddy. He was always clear that for every step the RBI takes, the Government has also to match it with fiscal initiatives. Too bad, the UPA Government slipped on many counts in this ground and wants to blame everything on RBI for the follies of the slippages on GDP growth, the exchange rate, etc.

2. Mr Rao, I believe, carried a resignation letter in his pocket everyday. So, nobody could have arm-twisted him to do anything that was not in principle appealing to his perception of Central Bank sensibilities. Neither the nincompoop Shankar Sharma with his unethical market behaviour or his un"bear"able fixations, nor opposition leaders like Yashwant Sinha and Arun Jaitley nor businessmen like Ambanis and Kris Gopalakrishnan nor PM or his FM could influence Mr Rao to curry favors on easing of monetary policy.

3. The incoming governor, Raghuram Rajan, will have a lower base of expectations and a weakened currency regime and an economy that will eventually climb the wall of worries. But the times that Subbarao managed are the most difficult and will help him earn more than a footnote in history even if he is thanked less now.

4. Inflation, is clearly, under control but beyond a point, if it refuses to die down, there are many factors at play - supply-side bottlenecks, reckless fiscal policy, exogenous forces at play, Fed's exorbitant privileges, etc.

5. Mr Rao is the first governor to open the doors of transparency and increase the frequency of interactions with public. He started the practice of monetary policy review eight times a year instead of four-six reviews a year in the previous stints.

6. Subbarao also participated in the most enlightened debates on central bank policies and its transmissions on the broad economy besides opening the Pandora's box on corporates getting new bank licenses, role of CRR etc. Of course, the debates that RBI had with the top guns at SBI are stuff of legend now - but that is only to be expected because SBI always felt it is more senior (and hence more ancient) than RBI in age.

7. Subbarao, like Dr.YV Reddy, opened the culture of TV debates and informal talks and continued the respect of peers across G-20 countries. He has also acknowledged the complexity of having multiple regulators and created the framework for right debates between the relevant regulators. If the US has today got six regulators, RBI also has created room for co-ordinated maneuvres. 

8. Willingness to act tough and learn from the history of banking crises has helped Subbarao to earn credibility. You should read his prescient essay on Basel-III norms to understand the mind of the man. Ministers like Chidamabaram who sit on intellectual tags and cannot steer clear of personal and career conflicts will never be able to hold a candle to men in public institutions like Subbarao who have nothing but unquestioned integrity, broad experience, nonconflicted judgment devoid of pollitical partisanship and the will to act. 

9. One fatal flaw that undermined Subbarao's endearing appeal is the rapidity with which he raised interest rates while cutting the interest rates in a lazy manner. He has realised the mistake but with grave consequences for the economy. He would have loved the unleashing of animal spirits had he taken more than baby steps in cutting interest rates for the little leg room that showed up somewhere in the period from September 2012-June 2013 but that proved to be a remiss too costly to miss.

10. Subbarao, despite that one fatal flaw, has kept the flag of autonomy in a developing country Central Bank unusually high. Let there be no doubt about his competence, his sense of humor, his resolve to tame inflation which was touching double-digits, his integrity and his independence. If RBI has earned its spurs today as one of the most respected central banks on the planet - whose working papers, whose policies and methods have become beacon lights of textbook economic responses, then let's credit Subbarao for joining the ranks of the great institution-builders.

 Subbarao is one of the commonest names in Telugu, it means the lucky one in Telugu. Even though Subbarao's stint in RBI has proved unlucky for India, it is not uneventful. In another country, another time, there would be a testimony of sorts. But this is India, we are like this only. Goodbye, Mr Subbarao. I will end with the words of Paul Volcker that clarify on how to size up crntral bankers: "The Federal Reserve, after all, has only one basic instrument so far as economic management is concerned—managing the supply of money and liquidity. Asked to do too much—for example, to accommodate misguided fiscal policies, to deal with structural imbalances, or to square continuously the hypothetical circles of stability, growth, and full employment—it will inevitably fall short. If in the process of trying it loses sight of its basic responsibility for price stability, a matter that is within its range of influence, then those other goals will be beyond reach."