Y.V. Reddy set to return home

New Delhi, Sept. 3: After five eventful years as RBI Governor, Y.V. Reddy now plans to settle down in Hyderabad and may take up teaching.

"I would be settling in Hyderabad," Mr Reddy said, coming out after meeting the finance minister, Mr P. Chidambaram, and other senior officials at the North Block. He also indicated that he may take up teaching. Earlier in the day, Chidambaram hosted a lunch for Mr Reddy here.

The lunch was attended by the RBI Governor-designate, Mr D. Subbarao, the Planning Commission deputy chairman, Mr Montek Singh Ahluwalia, and former RBI Governor and Rajya Sabha member, Mr C.Rangarajan.

Besides, the revenue secretary, Mr P.V. Bhide and the adviser to the finance minister, Mr Subhasis Gangopadhyay, were there. Widely speculated to be the deputy Governor of RBI, Mr Arvind Virmani, who is currently chief economic adviser, also attended the lunch. Mr Chidambaram while announcing Mr Subbarao as the new Governor had said, "The government takes this opportunity to place on record its deep appreciation to the services rendered by Mr Y.V. Reddy firstly as deputy Governor and then as Governor".

Mr Reddy will be relinquishing office after completing five eventful years, which includes efforts to control spiralling inflation, on September 5. — PTI