List of Governors of Reserve Bank of India (1935 to 2024)

Reserve Bank of India: Reserve Bank of India (RBI) is the central bank of India. It acts as the operator of all the banks in India. The Reserve Bank of India controls the economy. The current governor of RBI is Shaktikanta Das. Shaktikanta Das is the 25th Governor of RBI and has been appointed as the Governor of the Reserve Bank for a period of three years. He has replaced Urjit Patel on 11 December 2018. Urjit Patel served as the Governor of the Reserve Bank of India from 04 September 2016 to 10 December 2018.

The Reserve Bank of India was established on April 01, 1935 in accordance with the provisions of the Reserve Bank of India Act 1934. The central office of the Reserve Bank was initially established in Calcutta which was permanently shifted to Bombay in 1937. The central office is the office where the governor sits and policies are set. The Reserve Bank of India was initially a privately owned bank during the British Raj, but was nationalized on 1 January 1949 in independent India. Since then it is wholly owned by the Government of India.

Major functions performed by the Reserve Bank of India: The basic functions of the bank have been described in the Preamble of the Reserve Bank of India as follows:

  • "To regulate the issue of banknotes, to maintain reserves with a view to achieving monetary stability in India and to operate the currency and credit system in the interest of the country in general."
  • Formulate, implement and monitor monetary policy.
  • To regulate and supervise the financial system.
  • Managing foreign exchange.
  • Issuing, exchanging currency and destroying them when they are no longer operational.
  • To act as a banker to the government and as a banker to the banks.
  • Credit control.
  • Controlling currency transactions.

List of Governors of Reserve Bank of India:

Names of RBI Governors Since when Till when
Sir Osborne 01 April 1935 30 June 1937
Sir James Brad Taylor 01 July 1937 17 February 1943
Sir C.D. Deshmukh 11 August 1943 30 June 1949
Sir Benegal Rama Rao 01 July 1949 14 January 1957
K.G. . Ambegaonkar 14 January 1957 28 February 1957
H. V. R. Iyengar 01 March 1957 28 February 1962
P. C. Bhattacharya 01 March 1962 30 June 1967
Ale. K. Jha 01 July 1967 03 May 1970
B. N. Adarkar 04 May 1970 15 June 1970
S. Jagannathan 16 June 1970 19 May 1975
N. C. Sengupta 19 May 1975 19 August 1975
K. R. Puri 20 August 1975 02 May 1977
M. Narasimhan 03 May 1977 30 November 1977
Dr. I. G. Patel 01 December 1977 15 September 1982
Dr. Manmohan Singh 16 September 1982 14 January 1985
A. Ghosh 15 January 1985 04 February 1985
R. N. Malhotra 04 February 1985 22 December 1990
S. Venkataramanan 22 December 1990 21 December 1992
C. Rangarajan 22 December 1992 21 November 1997
Dr. Bimal Jalan 22 November 1997 06 September 2003
Dr. Voy. V. Reddy 06 September 2003 05 September 2008
D. Subbarao 05 September 2008 04 September 2013
Raghuram Rajan 05 September 2013 04 September 2016
Urjit Patel 04 September 2016 10 December 2018
Shaktikanta Das 11 December 2018 Present

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Urjit Patel took charge as the new Deputy Governor of the Reserve Bank of India (RBI) in January 2013. He held the position from August 2016 to October 2018.

The Reserve Bank of India was established on 1 April 1935, which had the right to issue notes. The central office of the Reserve Bank was initially established in Calcutta, which was moved permanently to Bombay in 1937.

The Reserve Bank of India issues notes according to the minimum reserve system, in which since 1957, the RBI has to maintain gold and foreign exchange reserves of Rs 200 crore at all times, of which at least Rs 115 crore should be in gold reserves. .

The Reserve Bank of India does not deal with the State of Sikkim, India, the Reserve Bank has entered into a limited agreement with the Government of Sikkim regarding the management of public debt for the State of Sikkim.

The official symbol of RBI, which is called the bank of the country's banks, is a palm tree and a leopard. The symbol is a sign of the colonial past and is derived from the insignia of the East India Company.

  Last update :  Wed 24 Jan 2024
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