Dr Jayanta Madhab passed away in a Guwahati-based hospital on Sunday midnight Credit: File image

Guwahati: Eminent economist and founder CMD of the North Eastern Development Finance Corporation Ltd (NEDFi), Dr Jayanta Madhab passed away at Apollo Hospital in Guwahati on Sunday midnight. He was 90.

He will be cremated with full state honour. Assam chief secretary Kumar Sanjay Krishna has been asked to attend the event on behalf of the state government by the chief minister of Assam Sarbananda Sonowal.

With his death, Assam has lost a prominent intellectual; Chief Minister Sarbananda Sonowal has also mourned his death.

Originally from Jorhat in Assam, Dr Madhav was instrumental in conceiving NEDFi. In fact, he was handpicked by the then Union finance minister Dr Manmohan Singh, who was also his classmate, to lead the Guwahati-based development bank.

Former director of Asian Development Bank (ADB), he also served as advisor to then Assam chief minister Tarun Gogoi, but quit, citing bureaucratic red-tape.

A noted economist, Dr Madhab graduated in Economic honours from JB College, Jorhat, completed his MA from Gauhati University, and subsequently went on the get his doctorate in financial management from London School of Economics.

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