The list of RBI Governors reflects the changing landscape of Indian banking and finance and highlights the significant contributions of its leaders over the years. The Reserve Bank of India (RBI) is the highest banking authority in India, responsible for regulating the country’s monetary policy and currency issuance. Since its establishment by the British colonial government in 1935, the RBI has had several Governors, each responsible for shaping the bank’s policies and direction.
Over the years, the position of RBI Governor has been held by some of the most distinguished individuals in Indian banking and finance. Some notable names include C.D. Deshmukh, who served as the first Indian Governor of the RBI from 1943-1949, and Raghuram Rajan, who held the position from 2013-2016.
In recent years, the RBI has seen several changes in leadership. Shaktikanta Das was appointed as the Governor of the RBI in December 2018 and continues to hold the position currently. His predecessors include Urjit Patel, who resigned in 2018, and Raghuram Rajan, who served from 2013-2016. As the country’s central bank, the RBI and its Governor play a crucial role in shaping the Indian economy and ensuring financial stability.
RBI Governor List
Below is the list of RBI Governors who have served from 1935 to 2023.
| Governor Name | Time Period |
|---|---|
| Sir Osborne Smith | April 1, 1935 – June 30, 1937 |
| Sir James Braid Taylor | July 1, 1937 – February 17, 1943 |
| Sir C.D. Deshmukh | August 11, 1943 – June 30, 1949 |
| Sir Bengal Rama Rau | July 1, 1949 – January 14, 1957 |
| K.G. Ambegaonkar | January 14, 1957 – February 28, 1957 |
| H.V.R Lyengar | March 1, 1957 – February 28, 1962 |
| P.C Bhattacharya | March 1, 1962 – June 30, 1967 |
| L.K. Jha | July 1, 1967 – May 3, 1970 |
| B.N. Adarkar | May 4, 1970 – June 15, 1970 |
| S. Jagannathan | June 16, 1970 – May 19, 1975 |
| N.C. Sen Gupta | May 19, 1975 – August 19, 1975 |
| K.R. Puri | August 20, 1975 – May 2, 1977 |
| M. Narasimham | May 3, 1977 – November 30, 1977 |
| I.G. Patel | December 1, 1977 – September 15, 1982 |
| Manmohan Singh | September 16, 1982 – January 14, 1985 |
| Amitav Gosh | January 15, 1985 – February 4, 1985 |
| R.N. Malhotra | February 4, 1985 – December 22, 1990 |
| S. Vpnldraramanan | December 22, 1990 – December 21, 1992 |
| C. Rangarajan | December 22, 1992 – November 21, 1997 |
| Bimal Jalan | November 22, 1997 – September 6, 2003 |
| Y.V. Reddy | September 6, 2003 – September 5, 2008 |
| D. Subbarao | September 5, 2008 – September 4, 2013 |
| Raghuram G. Rajan | September 4, 2013 – September 4, 2016 |
| Urjit Ravindra Patel | September 4, 2016 – December 10, 2018 |
| Shaktikanta Das | December 12, 2018 – to date |
List of Duties and Responsibilities of RBI Governor
- The RBI governors are responsible for maintaining monetary stability in an economy and formulating policies of Reserve Bank of India.
- The governor of RBI is responsible for issuing licenses to open new foreign and private banks.
- The power to control the interest rates on advances and deposits of the country is vested upon the governors. However, the scope of this power is limited to prescribing minimum lending rates and interest rates on savings accounts.
- The Governor of RBI regulates and administers the financial system of the nation and sets the parameters within which the whole financial system functions.
- The Governor of RBI manages the external trade and payment, and promotes orderly development and maintenance of foreign exchange market in India which comes under the foreign exchange management act, 1999.
- The RBI Governor monitors adequate quantities of currency notes and coins supply in the country and the issuance and destruction of currency that is not fit for circulation in public.
- RBI Governor keeps a check on rules and regulations in order to make them more customer-friendly.
- Through Urban Bank Departments, the RBI governor leads and supervises primary co-operative banks.
- The RBI Governor has a part to play in facilitating and monitoring the flow of credit to small scale industries, rural, and agricultural sectors. The responsibility for regulating state co-operative banks, regional rural banks, and various local area banks also lies with the RBI Governor.
1st Governor of RBI
The inaugural Governor of the Reserve Bank of India (RBI) was Sir Osborne Smith. On April 1, 1935, he assumed leadership, coinciding with the establishment of the RBI under the Reserve Bank of India Act, 1934. Sir Osborne Smith, a distinguished British banker and economist, played a pivotal part in the foundational aspects of the RBI and its early strategies.
His tenure focused on formulating the RBI’s monetary policy framework, supervising the banking sector, and ensuring the stability of the Indian financial domain. Sir Osborne Smith’s visionary leadership laid the groundwork for the RBI’s crucial role in shaping India’s economic advancement.
First Indian Governor of RBI
C.D. Deshmukh made history by becoming the inaugural Indian to lead the Reserve Bank of India (RBI) as its Governor. On August 11, 1943, he assumed this prestigious role, marking a pivotal moment in the country’s financial landscape. C.D. Deshmukh, a distinguished economist and administrator, left an indelible mark on India’s economic and financial policies.
During his tenure, he directed his efforts towards ensuring economic stability, overseeing the banking industry, and devising monetary strategies that bolstered India’s economic progress. His appointment as the first Indian Governor of the RBI stands as a significant milestone, signifying India’s journey towards native leadership in the financial domain.
RBI Governor List of India PDF
Download pdf list of Reserve Bank of India Governor of India from below link.
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