List of RBI Governors of India: List of RBI Governors of India!!! Details regarding the List of Governors of Reserve Bank of India is available here. One of the most important General Awareness topics for all the competitive exams. So competitive aspirants shall check here the complete updated details.
Before going to the list of rbi governors we have seen the RBI’s history, functions, roles & responsibilities. The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission. The British colonial government has founded the Reserve Bank of India on April 01, 1935. The Central Office of the RBI was established in Calcutta (now Kolkata) but was moved to Bombay (now Mumbai) in 1937. The RBI also acted as Burma’s (now Myanmar) central bank until April 1947. After the Partition of India in August 1947, the bank served as the central bank for Pakistan until June 1948. After the commencement of the operation of the State Bank of Pakistan in June 1948 the RBI has been fully owned by the Government of India since its nationalization in 1949. Till now, 25 RBI governors are appointed.
Reserve Bank of India Governor:
Reserve Bank of India governor is the chief executive of India’s central bank and the ex-officio chairperson of its Central Board of Directors. RBI acts as a parent body for all other commercial banks in India, In India, Rupee currency notes which are issued by the Reserve Bank of India (RBI), bear the governor’s signature. The First Governor of RBI was the British banker Osborne Smith in 1935, while the First Indian governor of RBI was C. D. Deshmukh. Here you can know the complete RBI governors list, their functions, roles, selection, etc. It will be useful for the preparation of various competitive exams.
Functions of RBI:
The core functions of Reserve Bank of India are,
- Issue of Bank Notes
- Banker to Government
- Custodian of Cash Reserves of Commercial Banks
- Custodian of Country’s Foreign Currency Reserves
- Lender of Last Resort
- Monetary Policy
- Central Clearance and Accounts Settlement
- Controller of Credit
- Buying and selling of Government securities (gilt edge, treasury bills, etc) and trade bills.
These are the main functions of RBI governors. Also know about the selection process and RBI governors list in detail here.
Appointment of RBI Governor:
Before going into the list of RBI governors, candidates know about the selection process. The central government will elect the RBI governor. On the recommendation of the Finance minister, the PM of India will appoint the RBI governor.
Eligibility of RBI Governors:
The RBI act does not have mentioned any specific qualifications for the RBI governor. But the central government will choose a person who have eminent skills to steer the monitary policy. If we see the previous list of RBI governors, most of them are in IAS cadres. Some persons are economists.
Role of RBI Governor:
Normally the tenure of RBI governor is 3 years. Some times it may be extended for 2 years. Here we have added the list of RBI governors. Before that know about the roles and responsibilities of the RBI governor.
- To formulate the policies of RBI.
- The RBI governor is responsible for the interest rate controls on deposits and advances of our nation. However there is a certain limit in controlling this interest rate.
- Responsible for the regulation and administration of our financial system. Also to set parameters for the financial system. Without the permission of RBI governor, even a single rupee cannot be moved in the financial system.
- To facilitate the external trade and payment.
- To promote the development and maintenance of the foreign exchange market in India.
- Should monitor the issue and destruction of currency and coins that are not fit for the public circulation.
- To review the rules and regulations of RBI.
- To help and promote the functions that support the development of national objectives.
- Have to lead and supervise the primary co-operative banks (urban co-operative banks).
- To monitor and facilitate the credit flow in important sectors of nation such as agriculture, small scale industries, etc.
- The RBI governors should monitor all the poverty alleviation schemes of our country and to help in the poverty eradication.
These are the roles and responsibilities of the RBI governor. Now candidates know the complete list of RBI governors here.
List of RBI Governors
|1||Osborne Smith||April 1, 1935, to June 30, 1937|
|2||James Braid Taylor||July 1, 1937, to February 17, 1943|
|3||C. D. Deshmukh||August 11, 1943, to June 30, 1949|
|4||Benegal Rama Rau||July 1, 1949, to 14 January 1957|
|5||K. G. Ambegaonkar||January 14, 1957, to 28 February 1957|
|6||H. V. R. Iyengar||March 1, 1957, to February 28, 1962|
|7||P. C. Bhattacharya||March 1, 1962, to June 30, 1967|
|8||L. K. Jha||July 1, 1967, to May 3, 1970|
|9||B. N. Adarakar||May 4, 1970, to June 15, 1970|
|10||Sarukkai Jagannathan||June 16, 1970, to May 19, 1975|
|11||N. C. Sen Gupta||May 19, 1975, to 19th August 1975|
|12||K. R. Puri||August 20, 1975, to May 2, 1977|
|13||M. Narasimhan||May 3, 1977, to November 30, 1977|
|14||I.G. Patel||December 1, 1977, to 15 September 1982|
|15||Manmohan Singh||September 16, 1982, to 14 January 1985|
|16||Amitav Ghosh||January 15, 1985, to 4th February 1985|
|17||R. N. Malhotra||February 4, 1985, to December 22, 1990|
|18||S. Venkitaraman||December 22, 1990, to December 21, 1992|
|19||C. Rangarajan||December 22, 1992, to November 21, 1997|
|20||Bimal Jalan||November 22, 1997 to September 6, 2003|
|21||Y. V. Reddy||September 6, 2003, to September 5, 2008|
|22||D. Subbarao||September 5, 2008, to September 4, 2013|
|23||Raghuram Rajan||September 4, 2013, to September 4, 2016|
|24||Urjit Patel||September 4, 2016, to 11 Dec.2018|
|25||Shaktikanta Das||From 12 Dec.2018|
List of RBI Governors: Some important Exam Point of View Points
1. Longest Tenure Governor of RBI – Benegal Rama Rao. (Total of 7 years, 197 day). He was the head of RBI from July 1, 1949, to January 14, 1957.
2. The shortest tenure – Amitabh Ghosh. He was head of RBI for 20 days from 15 January 1985 to 4 February 1985.
3. Manmohan Singh is the only Prime Minister who was the Governor of RBI (1982 – 1985).
5. KJ Udeshi was the First woman Deputy Governor of RBI.
6. RBI has launched a website named www.paisaboltahai.rbi.org.in. to raise awareness about fake notes in the market and the ways how they can prevent themselves.
7. Government of India(Ministry of Finance) is responsible for the minting of coins and printing of 1 rupee notes and not RBI.
Here we have provided the List of RBI Governors from the establishment of RBI still now. So aspirants shall utilize this article and prepare for your exams.
Q. Who was the first Governor of RBI?
The first Governor of RBI was Sir Osborne Smith.
Q. Who is the current Governor of RBI?
Shaktikanta Das is the current Governor of RBI.
Q. When was RBI established?
RBI was established on 1st April 1935 under the RBI Act, 1934.
Q. What is the main function of RBI?
The main function of RBI is forming the monetary policy.