RBI Governor List of India – Banking Awareness

RBI Governor List of India

Reserve Bank of India was established in the year 1935 by the British Government. So far 24 people have worked as RBI Governor of India. Prime Minister Office appoints RBI Governor of India for a period of three years on recommendation of the Finance Minister. Based on the work efficiency the tenure may be extended. The Present Governor of RBI is Urjit Patel, he took charge on 4th Sep 2016 and acting till date. C.D. Deshmukh was the first Governor of RBI (Reserve Bank of India), who took charge on 11th August 1943. RBI Governor List was provided below for the benefit of the candidates.

RBI Governor of India – Roles / Duties / Responsibilities

The RBI Governor is the custodian of the country’s reserves and defenders of the external value of the currency. RBI Governor secures the monetary stability of the country and hence the day to day life of the Indian Citizens. Please find the role of RBI governor of India given below:

  • RBI Governor is bankers’ banker, as he is the banker to the Government and heads the Central bank of the country.
  • He bears the responsibility to maintain the financial stability for our economy.
  • The formulation of economic policies cannot be made without his involvement.
  • The economic issues and the financial system of the country is affected by the decisions he takes.
  • The parameters, on which the whole economic and financial system is functioning, is decided by him.
  • The currency notes we use, bear his signature and the monetary policy is controlled by him.
  • He issues licenses to open new private and foreign banks and manages their working.
  • Manages the interest rates on deposits and advances of the country.
  • Manages the Foreign Exchange Management Act, 1999 that is related to maintain the foreign exchange market.
  • Monitors the issue and exchange of the currency and coins.
  • Also manages the credit to rural, agricultural and small-scale industries’ sectors, also frames policies to support agriculture sector.
  • Make decisions to support national objectives.
  • New rules and regulations are continuously reviewed by him so that they could become more easy and helpful for the customers.
  • He also governs the Urban Co-operative banks.
  • The Poverty Alleviation Schemes set by the Government is also managed by him.

Powers of the RBI Governor

The RBI Governor carries many powers. We can understand them with the help of following points:

  • Banker’s banker
  • Heads all the commercial banks
  • Influence on micro and macro economies
  • Control over stock market
  • Signatures on currency notes
  • Control over monetary, currency and credit system

Reserve Bank of India Governors List

Governor Name
Tenure
Osborne Smith
April 1, 1935 to June 30, 1937
James Brend Taylor
July 1, 1937 to February 17, 1943
C. D. Deshmukh
August 11, 1943 to June 30, 1949
Benegal Rama Rao
July 1, 1949 to 14 January 1957
K. G. Amgaonkar
January 14, 1957 to 28 February 1957
H. V. R. Iyengar
March 1, 1957 to February 28, 1962
P. C. Bhattacharya
March 1, 1962 to June 30, 1967
L. K. Jha
July 1, 1967 to May 3, 1970
B. N. Adarakar
May 4, 1970 to June 15, 1970
S. Jagannathan
June 16, 1970 to May 19, 1975
N. C. Sen Gupta
May 19, 1975 to 19th August, 1975
K. R. Puri
August 20, 1975 to May 2, 1977
M. Narasimhan
May 3, 1977 to November 30, 1977
I.G. Patel
December 1, 1977 to 15 September, 1982
Manmohan Singh
September 16, 1982 to 14 January 1985
Amitabh Ghosh
January 15, 1985 to 4th February, 1985
R. N. Malhotra
February 4, 1985 to December 22, 1990
S. Venkatraman
December 22, 1990 to December 21, 1992
C. Rangarajan
December 22, 1992 to November 21, 1997
Bimal Jalan
November 22, 1997 to September 6, 2003
Y. V. Reddy
September 6, 2003 to September 5, 2008
D. Subbarao
September 5, 2008 to September 4, 2013
Raghuram Rajan
September 4, 2013 to September 4, 2016
Urjit Patel
September 4, 2016 to till date

Note:

1. Benegal Rama Rao was the person who worked as the Governor of Reserve Bank of India for the longest time (total of 7 years, 197 day). He was on his post from July 1, 1949 to January 14, 1957.
2. Amitabh Ghosh was the person who worked for the shortest time as the Governor of the Reserve Bank of India. He was employed for a total of 20 days from 15 January 1985 to 4 February 1985.

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