One of the highly respected officials of the Economic Department was Dr T.K. Velayudham, son of a humble station master in Andhra. TKV held the Chair in Monetary Economics established by RBI in the Bombay University. When he was my Deputy Director, he took part in world–wide essay competition conducted by Banker’s Magazine, London. He bagged the first prize. The next year also the coveted first prize was captured by him.
When the magazine announced a competition for the third year in succession they wrote a letter to him requesting him not to participate and leave the prize for others. He retired as Principal of B.T.C.
*Shri Ramachandran retired from RBI as Dy.Gen.Manager.