He was the Governor of Reserve Bank of India for two terms. The Government of India reappointed Jalan as Governor of the Reserve Bank of India, first for a period of five years commencing 22 November 1997 to 21 November 2002 and again for a further period of two years commencing from 22 November 2002 and ending 21 November 2004. He was succeeded by Y. Venugopal Reddy on 6 September 2003.[2] During his tenure the Indian Rupee note of 1000 denomination was introduced.[3]
India's Economic Policy: Preparing for the Twenty-first Century (Viking, 1996) examines some of the critical policy choices for India at the present juncture.
The Future of India Politics, Economics and Governance (Penguin, 2005).