5 0 0 0 ▁and ▁ 1 0 , 0 0 0 ▁den om ination ▁and ▁the ▁gold ▁au ctions ▁were ▁demon et ized ▁during ▁his ▁ten ure ▁( he ▁later ▁featured ▁on ▁a ▁special ▁comm emor ative ▁ 1 0 0 0 ▁ru pe e ▁note ). ▁However , ▁the ▁ 1 0 0 0 ▁notes ▁had ▁to ▁be ▁re int rodu ced ▁later . ▁ ▁In ▁later ▁life , ▁he ▁taught ▁at ▁the ▁Mah ar aja ▁Say aj ira o ▁University ▁of ▁Bar oda , ▁V ad od ara . ▁and ▁in ▁ 1 9 9 1 ▁Pat el ▁was ▁requested ▁by ▁then ▁Prime ▁Minister ▁P . ▁V . ▁Nar as im ha ▁R ao ▁to ▁assume ▁the ▁responsibility ▁of ▁the ▁fin ance ▁minister ▁of ▁India , ▁but ▁this ▁offer ▁was ▁decl ined ▁by ▁him . ▁He ▁was ▁best owed ▁the ▁Pad ma ▁V ib h ush an ▁award ▁in ▁ 1 9 9 1 ▁for ▁his ▁further ing ▁of ▁the ▁field ▁of ▁economic ▁science . ▁Ind ra pr as ad ▁G ord han b hai ▁Pat el ▁was ▁known ▁as ▁B aba ▁' IG ' ▁from ▁his ▁child hood ▁days ▁in ▁V ad od ara , ▁then ▁the ▁capital ▁of ▁the ▁pr inc ely ▁state ▁ruled ▁by ▁the ▁Ga ek w ads ▁of ▁Bar oda , ▁where ▁he ▁was ▁born . ▁The ▁post ▁of ▁I . G . ▁Pat el ▁Professor ▁of ▁Econom ics ▁and ▁Government ▁at ▁the ▁London ▁School ▁of ▁Econom ics ▁was ▁created ▁in ▁his ▁honour ; ▁it