List of governors of the Reserve Bank of India

The governor of the Reserve Bank of India is the chief executive officer of India's central bank and the ex-officio chair of its Central Board of Directors. Indian Rupee currency notes, issued by the Reserve Bank of India, bear the governor's signature. Since its establishment in 1935 by the government of India, the RBI has been headed by twenty-five governors. The governor of the Reserve Bank of India is a member of the Strategic Policy Group headed by National Security Advisor Ajit Doval. It is a crucial wing of the National Security Council.[clarification needed]

Governor of the Reserve Bank of India
Seal of the Reserve Bank of India.svg
Seal of the Reserve Bank of India
Shaktikanta Das, IAS.jpg
Incumbent
Shaktikanta Das

since 12 December 2018
AppointerGovernment of India
Term length3 years (extendable)
Constituting instrumentReserve Bank of India Act, 1934
Inaugural holderSir Osborne Smith
Formation1 April 1935; 87 years ago (1935-04-01)
DeputyDeputy Governor
Salary₹ 2,50,000
Websiterbi.org.in

The term of office typically runs for three years and can, in some cases,[vague] be extended for another two years.

The inaugural officeholder was the British banker Sir Osborne Smith, while Sir C. D. Deshmukh was the first native Indian governor. Holding office for over seven years, Sir Benegal Rama Rau was the longest-serving governor, while Amitav Ghosh's 20-day term is the shortest. The bank's fifteenth governor, Dr Manmohan Singh, later became India's thirteenth prime minister. Shaktikanta Das is the twenty-fifth governor of the Reserve Bank of India from 12 December 2018.

List of governorsEdit

 
Sir C. D. Deshmukh was the first Indian to serve as the governor.
 
Sir Benegal Rama Rau was the longest serving governor.
 
I. G. Patel, the fourteenth governor
 
Manmohan Singh, the fifteenth governor, later served as the thirteenth prime minister of India
 
D. Subbarao, the twenty-second governor
 
Raghuram Rajan, the twenty-third governor
 
Urjit Patel, the twenty-fourth governor
 
Shaktikanta Das, the twenty-fifth and incumbent governor
List of governors of the Reserve Bank of India
No. Governor Term[1] Length of tenure Notes[1] References
1 Sir Osborne Smith 1 April 1935

30 June 1937
2 years, 90 days Smith was a British banker who served as the managing governor of the Imperial Bank of India prior to becoming the governor. He resigned the governorship before the completion of the term. [2]
2 Sir James Braid Taylor 1 July 1937

17 February 1943
5 years, 231 days Taylor was an Indian Civil Services officer who served as the controller of the currency and the deputy governor pf RBI prior to becoming the governor. He died while in office. [3]
3 Sir C. D. Deshmukh 11 August 1943

30 June 1949
5 years, 323 days Deshmukh was an Indian Civil Services officer who served as the deputy governor of RBI prior to becoming the governor. He was the first Indian to serve as the governor. His governorship oversaw the partition of India as the subsequent division of assets and liabilities between India and Pakistan.
4 Sir Benegal Rama Rau 1 July 1949

14 January 1957
7 years, 197 days Rau was an Indian Civil Services officer who served as the Indian ambassador to the United States prior to becoming the governor. He resigned the governorship before the completion of his second extended term.
5 K. G. Ambegaonkar 14 January 1957

28 February 1957
45 days Ambegaokar was an Indian Civil Services officer who served as the Finance Secretary prior to becoming the deputy governor of RBI. He was appointed as the interim governor upon the resignation of Benegal Rama Rau.
6 H. V. R. Iyengar 1 March 1957

28 February 1962
4 years, 364 days Iyengar was an Indian Civil Services officer who served as the chairman of the State Bank of India prior to becoming the governor. Indian coinage was shifted from earlier systems to decimal coinage during his governorship.
7 P. C. Bhattacharya 1 March 1962

30 June 1967
5 years, 121 days Bhattacharya was an Indian Audit and Accounts Service officer who served as the chairman of the State Bank of India prior to becoming the governor.
8 Lakshmi Kant Jha 1 July 1967

3 May 1970
2 years, 306 days Jha was an Indian Civil Services officer who served as the secretary to the prime minister prior to becoming the governor. He left the office upon his appointment as the Indian ambassador to the United States.
9 B. N. Adarkar 4 May 1970

15 June 1970
42 days Adarkar was an economist who served as the economic advisor to the government prior to becoming the deputy governor of RBI. He was appointed as the interim governor.
10 Sarukkai Jagannathan 16 June 1970

19 May 1975
4 years, 337 days Jagannathan was an Indian Civil Services officer who served as India's executive director of the World Bank prior to becoming the governor. He resigned the office to become the India's executive director of the International Monetary Fund.
11 N. C. Sen Gupta 19 May 1975

19 August 1975
92 days Gupta served as the secretary to the Department of Banking, Ministry of Finance prior to becoming the interim governor.
12 K. R. Puri 20 August 1975

2 May 1977
1 year, 255 days Puri served as the chairman of the Life Insurance Corporation prior to becoming the governor. His governorship oversaw the formation of various regional rural banks.
13 M. Narasimham 3 May 1977

30 November 1977
211 days Narasimham was a RBI research officer who served as an additional Secretary to the Department of Economic Affairs prior to becoming the governor.
14 I. G. Patel 1 December 1977

15 September 1982
4 years, 288 days Patel was an economist who served as a secretary in the Ministry of Finance prior to becoming the governor. His governorship oversaw the demonetization of 5,000 and ₹10,000 value currency.[4]
15 Manmohan Singh 16 September 1982

14 January 1985
2 years, 120 days Singh is an economist who served as the Finance Secretary prior to becoming the governor. His governorship oversaw various legal reforms related to banking. He went on to become the Prime Minister of India.
16 Amitav Ghosh 15 January 1985

4 February 1985
20 days Ghosh was the deputy governor of RBI who was appointed as the interim governor until R. N. Malhotra assumed the office.
17 R. N. Malhotra 4 February 1985

22 December 1990
5 years, 321 days Malhotra was an Indian Administrative Services officer who served as executive director of the International Monetary Fund prior to becoming the governor. His governorship oversaw the inauguration of Indira Gandhi Institute of Development Research.
18 S. Venkitaramanan 22 December 1990

21 December 1992
1 year, 365 days Venkitaramanan was an Indian Administrative Services officer who served as the Finance Secretary prior to becoming the governor. India adopted International Monetary Fund's stabilization program during his governorship.
19 C. Rangarajan 22 December 1992

21 November 1997
4 years, 334 days Rangarajan is an economist who served as the deputy governor of RBI prior to becoming the governor. His governorship oversaw the establishment of unified exchange rate.
20 Bimal Jalan 22 November 1997

6 September 2003
5 years, 288 days Jalan is an economist who served at various positions including being the chief economic adviser to the government and serving as the Finance Secretary prior to becoming the governor. His governorship oversaw less inflation and interest rates.
21 Y. Venugopal Reddy 6 September 2003

5 September 2008
4 years, 365 days Reddy is an Indian Administrative Services officer who served as the deputy governor of RBI prior to becoming the governor. During his governorship, he contributed in the financial sector reforms and external commercial borrowings.
22 D. Subbarao 5 September 2008

4 September 2013
4 years, 364 days Subbarao is an Indian Administrative Services officer who served as the Finance Secretary prior to becoming the governor. He wrote on various issues including decentralization and public finance.
23 Raghuram Rajan 4 September 2013

4 September 2016
3 years, 0 days Rajan is an economist who served as the chief economic advisor to the government and the chief economist of International Monetary Fund prior to becoming the governor.
24 Urjit Patel 4 September 2016

10 December 2018
2 years, 98 days
25 Shaktikanta Das 12 December 2018

Incumbent
3 years, 353 days [5][6][7]

ReferencesEdit

  1. ^ a b "Governors". Reserve Bank of India. Retrieved 19 June 2022.{{cite web}}: CS1 maint: url-status (link)
  2. ^ Dadabhoy, Bakhtiar K. (2013). Barons of Banking: Glimpses of Indian Banking History. Noida: Random House India. p. 20. ISBN 978-81-8400-476-2.
  3. ^ Saha, Siddhartha Sankar (2013). Indian Financial Systems and Markets. New Delhi: McGraw-Hill. p. 67. ISBN 978-1-259-00500-8.
  4. ^ "In 1946 and 1978, India had demonetised Rs 5,000, 10,000 notes". Deccan Chronicle. 9 November 2016. Retrieved 19 June 2022.
  5. ^ Prasad, Gireesh Chandra; Ghosh, Shayan; Gopakumar, Gopika (11 December 2018). "Shaktikanta Das, Who Oversaw Demonetization, Is New RBI Governor". Livemint. Retrieved 24 April 2022.
  6. ^ "Shaktikanta Das Is New RBI Governor". BloombergQuint. BQ Desk. 11 December 2018. Retrieved 11 December 2018.{{cite web}}: CS1 maint: others (link)
  7. ^ "Shaktikanta Das: The Man Behind GST, Note Ban Now Heads RBI". The Economic Times. 11 December 2018. Retrieved 24 April 2022.

External linksEdit