List of Governors of Reserve Bank of India (1935-2023)

The Governor of the Reserve Bank of India is the Chief Executive Officer of RBI. The Reserve Bank of India (RBI) was founded on April 1st, 1935. Shaktikanta Das is the current Governor of RBI for three years. He is responsible for governing the monetary policy of the country. The Government Of India appoints the head of RBI, known as the governor.

In this article, we are going to discuss the Governors of the Reserve Bank of India name list from 1935 to 2022 and their tenure, the current RBI governor Shaktikanta Das, the eligibility criteria to become an RBI governor, and their powers and responsibilities.

List of Governors of Reserve Bank of India

RBI Governors Name List (1935-2023)

The function of RBI is promoting financial development and ensuring economic stability. This has been further modified with time by succeeding Governors. The RBI Governor plays a key role in directing the country’s monetary policy.

Following table shows the list of name and tenure of the Governors Reserve Bank of India (RBI) from 1935 to 2022:

Governor’s Name	Tenure
RBI Governors Name List from 1935 to 2022
Sir Osborne Smith	1 April 1935 – 30 June 1937
Sir James Braid Taylor	1 July 1937 – 17 February 1943
Sir C. D. Deshmukh	11 August 1943 – 30 June 1949
Sir Benegal Rama Rau	1 July 1949 – 14 January 1957
K. G. Ambegaonkar	14 January 1957 – 28 February 1957
H. V. R. Iyengar	1 March 1957 – 28 February 1962
P. C. Bhattacharya	1 March 1962 – 30 June 1967
L. K. Jha	1 July 1967 – 3 May 1970
S. Jagannathan	16 June 1970 – 19 May 1975
B. N. Adarkar	4 May 1970 – 15 June 1970
S. Jagannathan	16 June 1970 – 19 May 1975
N. C. Sen Gupta	19 May 1975 – 19 August 1975
K. R. Puri	20 August 1975 – 2 May 1977
M. Narasimham	2 May 1977 – 30 November 1977
Dr. I. G. Patel	1 December 1977 – 15 September 1982
Dr. Manmohan Singh	16 September 1982 – 14 January 1985
A. Ghosh	15 January 1985 – 4 February 1985
R. N. Malhotra	4 February 1985 – 22 December 1990
S. Venkitaramanan	22 December 1990 – 21 December 1992
Dr. C. Rangarajan	22 December 1992 – 21 November 1997
Dr. Bimal Jalan	22 November 1997 – 6 September 2003
Dr. Y. V. Reddy	6 September 2003 – 5 September 2008
Dr. D. Subbarao	5 September 2008 – 4 September 2013
Dr. Raghuram Rajan	4 September 2013 – 4 September 2016
Dr. Urjit Patel	4 September 2016 – 10 December 2018
Shaktikanta Das	12 December 2018 – Present

Some Notable RBI Governors Till Date

The first Governor of the Reserve Bank of India was Sir Osborn Smith, while C.D. Deshmukh was the first Indian Governor of the Reserve Bank of India.

We are going to discuss some notable people who have overseen RBI operations and their contributions since its founding from the above list of RBI Governors till date.

James Braid Taylor: 2nd Governor (Acting)

After Smith, James Plait Tayler was India’s Acting Lead representative between July 1937 and February 1938. He kept on reinforcing the elements of the RBI during his brief time frame.

C. D. Deshmukh: The First Indian Governor

C. D. Deshmukh turned into the principal Indian Legislative head of the RBI. He held office from August 11, 1943, to June 30, 1949. He made critical commitments to the advancement of the Indian financial framework.

Benegal Rama Rau: The Visionary Governor

Benegal Rama Rao was the RBI’s most memorable Indian Lead representative, serving from July 1949 to January 1956. He was a visionary chief who achieved a few significant monetary changes.

K. G. Ambegaonkar: Stepping into Challenges

K.G. Ambeogaonkar was India’s most memorable legislative head of the RBI. He served from August 1944 to June 1956. He made a great deal of commitments to the nation’s financial framework during his brief time frame in office. However he didn’t get a lot of chances to have an enduring effect on the nation’s economy.

H. V. R. Iengar: Leading Through Turbulence

H. V. R. Iengar filled in as the RBI Lead representative from Walk 1, 1957, to February 28, 1962. His term confronted financial difficulties and changes, and he explored them earnestly.

P. C. Bhattacharya: Emphasizing Agricultural Finance

P. C. Bhattacharya turned into the RBI Lead representative on Walk 1, 1962, and served until June 30, 1967. He zeroed in on reinforcing horticultural money and country credit during his residency.

L. K. Jha: Clearing the Way for Monetary Development

L. K. Jha was designated as the Legislative head of the RBI between July 1, 1967 and May 3, 1970, and assumed a key part in preparing for significant financial development in India.

B. N. Adarkar: A Short but Impactful Tenure

B.N. Adarkar was named as Legislative leader of the RBI from May 4, 1970 to June 15, 1970, and his residency was set apart by monetary hardships, like the oil emergency, however he had the option to actually oversee them.

S. Jagannathan: Navigating Through Challenges

S. Jagannathan was selected as a Lead representative on July 1, 1967 and served until 3 May 1970. He made significant commitments to the strategy of the RBI.

N. C. Sen Gupta: Steadying the Ship

N.C. Sen Gupta was selected Lead representative on August 19, 1975 and stayed in office for a concise period, in spite of the way that he didn’t make huge commitments to the strategies of the RBI.

K. R. Puri: A Key Contributor to Financial Reforms

K.R. Puri was designated Legislative leader of the RBI on August 20, 1975 and served until May 2, 1977, during which time he was instrumental in presenting monetary changes.

M. Narasimham: Pioneering Financial Sector Reforms

Spearheading changes in the monetary area M.Narasimham accepted the governorship on 2 May 1977, and remained in office until 14 January 1985. He started various significant monetary area changes, preparing for critical financial progression in India.

I. G. Patel: Navigating Through Economic Crisis

I. G. Patel was legislative leader of the RBI from first December 1977 to fifteenth September 1982. During his term, the nation confronted monetary difficulties and he did whatever it takes to address them.

Manmohan Singh: The Architect of Economic Liberalization

Manmohan Singh accepted the job of the Hold Bank of India (RBI) on 16 September 1982 and stayed in office until 14 January 1985. During his residency, the RBI embraced a dynamic strategy of financial progression.

RBI Governor Eligibility

The Indian government appoints the governor of the Reserve Bank of India (RBI), on the advice of the prime minister after consulting with the finance minister. The RBI Act of 1934 governs the appointment.

These are the requirements for someone to be eligible for the post of an RBI governor:

• A strong background in economics, broad financial knowledge.
• A solid grasp of monetary and fiscal policies
• Effective leadership qualities and the capacity to handle complicated economic difficulties.

RBI Governor Powers

The Indian note issued by the Reserve Bank of India has the signature of the its Governor. The RBI Governor has many powers. We can understand them with the help of the following points:

• Governor is the banker’s banker
• They are the head all the commercial banks
• They have a huge influence on micro and macro economies
• They exert control over stock market
• Their signature on the currency notes is there.
• They have control over monetary, currency and credit system

RBI Governor Tenure

The RBI Governor’s term is not set in stone and is subject to change. The period was initially set at three years, but it may be extended.

Additional extensions may be granted, but only at the government’s discretion. In the past, some governors were elected to shorter periods of office, while others received extensions for additional terms.

Responsibilities of RBI Governor

These are the major responsibilities of the governor of RBI:

• Monetary Policy: Establishing important interest rates (such as the repo rate) to restrain inflation and encourage economic expansion.

• Banking Regulation and Supervision: The RBI Governor is in charge of ensuring that banks and other financial institutions are stable and comply with numerous regulations.

• Foreign Exchange Management: The Governor of the Reserve Bank oversees the nation’s foreign exchange holdings and develops strategies to preserve exchange rate stability.

• Financial Stability: Another crucial duty is ensuring the stability of the financial system.

• Currency issuance: The RBI Governor is in charge of creating and administering Indian rupee banknotes and coins.

• Advisory role: The governor also serves as the government’s economic counselor on monetary and fiscal issues.

• Representation: On a number of national and international forums, particularly financial and economic forums, the Governor speaks on behalf of the RBI.

Conclusion

The listing of India’s lead representative Commanders gives testimony regarding the development of the establishment and the visionaries who have directed its encouraging. Since its beginning, the Indian national bank has been a vital consider the country’s financial turn of events and solidness. This article will definitely help you learn about the Governors of the Reserve Bank of India name list from 1935 to 2022 and their tenure, along with who is the current RBI governor. You will also learn about some notable governors till date,the eligibility criteria to become an RBI governor, and their powers and responsibilities.

Governors of RBI Name List – FAQs

Q. What are the Governor of the RBI’s primary duties?

Among other important duties, the Governor of the RBI is in charge of managing foreign exchange reserves, devising and implementing monetary policies, and overseeing the central banking operations of the RBI.

Q. What function does RBI serve within the Indian economy?

The RBI is essential to maintaining price stability, controlling inflation, overseeing and regulating the banking sector, issuing currency, and advancing India’s overall financial and economic stability.

Q. Who was the first governor of Reserve Bank of India?

The first Governor of the RBI was Sir Osborne Smith, who held the position from 1 April 1935 until 30 June 1937.

Q. How long is a Governor of the RBI’s term?

A Governor of the RBI normally serves a five-year term. However, depending on a number of variables and political decisions, this may be lengthened or shortened.

Q. Who chooses the RBI’s governor?

On the advice of the Prime Minister’s Office and the Finance Ministry, the Indian Government appoints the Governor of the Reserve Bank of India.

Q. What duties fall under the purview of an RBI deputy governor?

Contributing to monetary policy decisions, supervising banking rules, financial stability, currency management, and representing the RBI in various national and international venues are all duties of a deputy governor.

Q. Who was the Reserve Bank of India’s first governor?

Sir Osborne Smith served as the first governor of RBI.

Q. Who was the 24th Governor of RBI?

Urjit Patel was the 24th Governor of the Reserve Bank Of India.