Get ready for Reddy

The coast appears clear for Dr Yaga Venugopal Reddy, deputy governor of the Reserve Bank of India until last year, to assume his well-deserved place as governor. Current governor Bimal Jalan is set to abandon the central bank in August, well before the end of his term (in November 2004) in favour of the more fickle world of politics: he has been nominated to sit in the upper house of India's parliament.

Reddy will doubtless replace him with relish, having originally had designs on the gover