The Forum of Free Enterprise is a non-political organization founded in 1956 by A. D. Shroff, and has been established to educate public opinion in India on free enterprise and a democratic way of life. The Forum publishes booklets to further its objects. The following booklet is titled “Whither Central Banking?”, authored by H. V. R. Iengar ICS (Retd.) The text is written with an aim of contrasting the popularly held notion that “the only major developments in banking have taken place since then and that nationalisation has become one of the major tools of the Garibi Hatao programme”, author makes use of cross country and historical data to support his contrasting view point. He produces arguments which help him in advocating the point that, in a developing country, it shall virtually be of more benefit, if the central bank is freed from many of the responsibilities that have been unloaded on it currently.