Pen Drive

In memory of Subir Gokarn—who left us far too soon

  • The former RBI deputy governor we lost two years ago had an illustrious career and will be well remembered for his speeches but many who knew him marvel at how ahead of his time he was.
  • Subir was a highly considerate person as a boss. He wanted work done and done well regardless of where it was done, offering the sort of job flexibility that’s now familiar to most of us

Vidya Mahambare
Published5 Aug 2021, 10:30 PM IST
former RBI deputy governor Subir Gokarn.
former RBI deputy governor Subir Gokarn.(Photo: Mint)

Work-from-home (WFH) is a buzzword today in the aftermath of the covid pandemic, but some leaders had recognized its benefits for the well-being of employees and their productivity many years earlier. Subir Gokarn was one such stalwart, and I was one of the beneficiaries of his vision 15 years ago.

At the time of his untimely demise about two years ago, on 30 July 2019, Subir was executive director on the board of the International Monetary Fund as a representative of India, Bangladesh, Bhutan and Sri Lanka. He was an accomplished economist and donned many hats during this superlative career. He was known for his deadpan humour, love for travel and good food, and was an avid cook himself.

Subir’s professional accomplishments are many and well documented. His speeches as deputy governor of the Reserve Bank of India (RBI) became famous for the debate and interest they generated about inflation management in India. There was one on ‘The Price of Protein’ at the Indira Gandhi Institute of Development Research (IGIDR) in 2010, and another titled ‘This Time it’s Different’ at the Gokhale Institute of Politics and Economics, my alma alter, in 2011.

What made Subir special, however, was the lasting mark that he left on the people who came in touch with him. Subir was a servant-leader who focused on the needs of others, helping them develop to their full potential. It wasn’t forced; it was his nature.

He was my first boss in my only corporate job in India. I met him the first time in Mumbai in late 2004 to discuss the possibility of joining Crisil, where he was chief economist. I was planning to move back to India the following year. He asked me if it was convenient to come to the Taj Palace Hotel. It was hardly a conventional interview. Among the questions he asked me was if I had applied elsewhere. On hearing where I had applied, astonishingly, he told me that the alternative corporate option would pay me a lot more, in case I was unaware.

I could not have moved to New Delhi, where Crisil’s economic research team was based. Without hesitation, he said I could work from Mumbai. A few months passed. I had to delay my joining date. He was very patient. When I finally joined, he spoke to old-timers in the Mumbai office to ensure that I was comfortable in my initial days. As a researcher, he gave freedom to work on diverse topics, followed a flat team structure without hierarchical constraints, and adopted a collaborative approach.

Just a few months had passed after I joined Crisil. Subir knew I may be looking for a babysitter. Upon enquiring, when he discovered I hadn’t found one, he said he would get in touch with his daughter’s babysitter from some 7-8 years earlier, when he and his family used to live on the campus of IGIDR, where he was a faculty member. They were still in touch after so many years. His daughter’s babysitter went on to become my son’s, too, right from his birth till we left Mumbai seven years later. She has become a part of the family now, even though we no longer live in the city. Indeed, finding quality childcare is one of the most important constraints women face in continuing to work after motherhood and Subir was genuinely concerned about this aspect.

Despite having a full-time babysitter, I wanted to work from home after my son was born. Such a discretionary grant to an employee would not have gone unnoticed in the organization, but Subir never said anything about it. On top of that, after a few months, I received a pleasant surprise—a mid-year salary raise. I was just grateful to be allowed WFH without a salary cut. However, what mattered to Subir was that work got done and done well, regardless of where it was done.

One day, Subir said that a newspaper he was associated with was looking for someone to write a column delivering academic research to its readers. He thought I should give it try and that it would help me improve my writing. So I did. It helped me simplify issues and write with clarity.

In 2009, Subir moved to RBI as deputy governor. One day he came to the IGIDR in his official capacity. I mentioned to him that it would be lovely if he could come home briefly. He did come, even though it had gotten late. He savoured simple peanut chikki (candy) and asked for more.

In the summer of 2014, I had to move to Chennai. By late 2014, I knew I needed to do something different professionally. Once again, I approached Subir. He suggested going back to academics, asked me to consider my current organization and agreed to write a recommendation. I had spent four years in academia in the UK and enjoyed it. It was indeed the right call to return.

Most of my memories of Subir are essentially how he helped me professionally and personally. He helped countless others too. Most of us could not have done anything for him in return. Among all of Subir’s enduring qualities, this is what defined him. He loved travelling. The journey to his final destination, aged just 59, was way too fast. He was never in a hurry. His final departure was the only thing that did not go with his character. But that’s one thing nobody can control.

Vidya Mahambare is professor of economics at Great Lakes Institute of Management, Chennai

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First Published:5 Aug 2021, 10:30 PM IST
Business NewsOpinionColumnsIn memory of Subir Gokarn—who left us far too soon

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