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Few people are as close to India’s people as the Governor of the Reserve Bank, yet few are as evocative of his awe and mystique: close because virtually every individual, affluent or poor, carries the Governor’s promise and signature on his person. Central bankers have a reputation for being conservative and secretive. As the custodians of the country’s reserves and defenders of the currency’s foreign worth, they command respect. They also exude mystique as money dealers, a product that everyone wants but few comprehend.
Behind the mist, and outside of public perception, the governor’s personality takes on significance in a specific setting. The governor, more than any other public or private functionary in the country, is responsible for the country’s monetary stability. This has an impact on regular individuals’ daily lives.
Deputy Governors
A list of Deputy Governors is given below:
Serial No. | Name | Tenure |
1 | T. Rabi Sankar | 03.05.2021 onwards |
2 | M. Rajeshwar Rao | 09.10.2020 onwards |
3 | Dr. M. D. Patra | 15.01.2020 onwards |
4 | M. K. Jain | 22.06.2018 to 21.06.2021 |
5 | B.P. Kanungo | 03.04.2017 to 02.04.2021 |
6 | N. S. Vishwanathan | 04.07.2016 to 31.03.2020 |
7 | Dr. Viral V. Acharya | 23.01.2017 to 23.07.2019 |
8 | S. S. Mundra | 31.07.2014 to 30.07.2017 |
9 | R. Gandhi | 03.04.2014 to 02.04.2017 |
10 | Dr. Urjit R. Patel | 11.01.2013 to 10.01.2016 |
11 | Harun R. Khan | 04.07.2011 to 03.07.2014 |
12 | Anand Sinha | 19.01.2011 to 18.01.2014 |
13 | Dr. Subir Gokarn | 24.11.2009 to 31.12.2012 |
14 | Dr.K.C.Chakrabarty | 15.06.2009 to 25.04.2014 |
15 | Usha Thorat | 10.11.2005 to 09.11.2010 |
16 | Shyamala Gopinath | 21.09.2004 to 08.09.2009 |
17 | V Leeladhar | 21.09.2004 to 08.12.2008 (forenoon) |
18 | K J Udeshi | 10.06.2003 to 12.10.2005 |
19 | Rakesh Mohan | 09.09.2002 to 31.10.2004 |
20 | G P Muniappan | 01.07.2001 to 31.05.2003 |
21 | Vepa Kamesam | 01.07.2001 to 23.09.2003 |
22 | Jagdish Capoor | 01.01.1997 to 30.06.1999 |
23 | Y V Reddy | 14.09.1996 to 31.08.2001 |
24 | R.V. Gupta | 02.05.1995 to 30.11.1997 |
25 | S.P. Talwar | 07.11.1994 to 30.06.1999 |
26 | D.R. Mehta | 11.11.1992 to 21.02.1995 |
27 | S.S. Tarapore | 30.01.1992 to 30.09.1996 |
28 | R. Janakiraman | 16.05.1990 to 15.05.1993 |
29 | P.R. Nayak | 01.04.1987 to 31.03.1992 |
30 | P.D. Ojha | 29.04.1985 to 28.04.1990 |
31 | R.K. Kaul | 01.10.1983 to 30.09.1986 |
32 | M.V. Hate | 12.03.1982 to 11.03.1985 |
33 | C. Rangarajan | 12.02.1982 to 11.02.1987 |
34 | A. Ghosh | 21.01.1982 to 20.01.1987 |
35 | M. Ramakrishnayya | 02.01.1978 to 31.01.1983 |
36 | J.C. Luther | 04.01.1977 to 01.06.1977 |
37 | P.R. Nangia | 29.12.1975 to 15.02.1982 |
38 | K.S. Krishnaswamy | 29.12.1975 to 31.03.1981 |
39 | R.K. Sheshadri | 26.07.1973 to 25.07.1976 |
40 | S.S. Shiralkar | 18.12.1970 to 25.07.1976 |
41 | V.V. Chari | 17.11.1970 to 30.11.1975 |
42 | R.K. Hazari | 27.11.1969 to 26.11.1977 |
43 | P.N. Damry | 13.02.1967 to 12.02.1972 |
44 | Prof. J.J. Anjaria | 01.02.1967 to 28.02.1970 |
45 | A. Bakshi | 24.01.1967 to 08.09.1969 |
47 | B.N. Adarkar | 16.06.1965 to 03.05.1970 |
48 | B.K. Madan | 01.07.1964 to 31.01.1967 |
49 | M.R. Bhide | 29.02.1964 to 25.01.1967 |
50 | C.S. Divekar | 12.11.1962 to 11.11.1965 |
51 | D.G. Karve | 01.03.1962 to 29.02.1964 |
52 | M.V. Rangachari | 01.03.1960 to 28.02.1965 |
53 | B. Venkatappaiah | 01.07.1955 to 30.06.1960 |
54 | K.G. Ambegaonkar | 01.03.1955 to 13.01.1957 |
55 | J.V. Joshi | 11.09.1952 to 10.01.1953 |
56 | Ram Nath | 08.06.1951 to 08.07.1951 |
57 | N. Sundaresan | 01.01.1950 to 31.12.1954 |
58 | W.T. McCallum | 15.04.1946 to 14.08.1946 |
59 | M.G. Mekhri | 08.07.1946 to 07.07.1951 |
60 | C.R. Trevor | 16.08.1943 to 31.12.1949 |
61 | Wajahat Hussain | 16.08.1943 to 04.12.1945 |
62 | C.D. Deshmukh | 22.12.1941 to 10.08.1943 |
63 | Manilal B. Nanavati | 21.12.1936 to 21.12.1941 |
64 | Captain Sir Sikander Hyat Khan | 01.04.1935 to 20.10.1935 |
65 | Sir James B. Taylor | 01.04.1935 to 30.06.1937 |
List of all the Governors of the RBI
Serial No. | Name | Tenure |
|---|---|---|
1 | Osborne Smith | 1 April 1935 to 30 June 1937 |
2 | James Braid Taylor | 1 July 1937 to 17 February 1943 |
3 | C. D. Deshmukh | 11 August 1943 to 30 June 1949 |
4 | Benegal Rama Rau | 1 July 1949 to 14 January 1957 |
5 | K. G. Ambegaonkar | 14 January 1957 to 28 February 1957 |
6 | H. V. R. Iyengar | 1 March 1957 to 28 February 1962 |
7 | P. C. Bhattacharya | 1 March 1962 to 30 June 1967 |
8 | Lakshmi Kant Jha | 1 July 1967 to 3 May 1970 |
9 | B. N. Adarkar | 4 May 1970 to 15 June 1970 |
10 | Sarukkai Jagannathan | 16 June 1970 to 19 May 1975 |
11 | N. C. Sen Gupta | 19 May 1975 to 19 August 1975 |
12 | K. R. Puri | 20 August 1975 to 2 May 1977 |
13 | M. Narasimham | 3 May 1977 to 30 November 1977 |
14 | I. G. Patel | 1 December 1977 to 15 September 1982 |
15 | Manmohan Singh | 16 September 1982 to 14 January 1985 |
16 | Amitav Ghosh | 15 January 1985 to 4 February 1985 |
17 | R. N. Malhotra | 4 February 1985 to 22 December 1990 |
18 | S. Venkitaramanan | 22 December 1990 to 21 December 1992 |
19 | C. Rangarajan | 22 December 1992 to 21 November 1997 |
20 | Bimal Jalan | 22 November 1997 to 6 September 2003 |
21 | Y. Venugopal Reddy | 6 September 2003 to 5 September 2008 |
22 | D. Subbarao | 5 September 2008 to 4 September 2013 |
23 | Raghuram Rajan | 4 September 2013 to 4 September 2016 |
24 | Urjit Patel | 4 September 2016 to 10 December 2018 |
25 | Shaktikanta Das | 12 December 2018 till date |
Some Important Facts About Reserve Bank of India (RBI)
- Osborne Smith was the RBI’s first Governor.
- C D Deshmukh was the RBI’s first Indian governor.
- The Reserve Bank of India was founded as a private bank with two additional functions: to regulate and control all banks in India, as well as to serve as the banker to the then-government.
- RBI has been entirely owned by the Government of India since its nationalisation in 1949, and as a result, several new jobs have been added to its list of responsibilities.
Conclusion
The governors of the RBI are in charge of ensuring monetary stability in a country’s economy. As a result, it is crucial in the formulation of Reserve Bank of India policies. The governor of the RBI is also in charge of providing licences to start new foreign and private banks.
The governors have the authority to determine the country’s interest rates on advances and deposits. However, this ability is limited to dictating minimum loan rates and savings account interest rates. The Governor regulates and administers the nation’s financial system, and he merely sets the limits under which the entire financial system operates.
The Governor of the Reserve Bank of India oversees external trade and payments, as well as the orderly development and maintenance of India’s foreign exchange market, which is governed by the Foreign Exchange Management Act of 1999.
