ABOUT RBI (RESERVE BANK OF INDIA)
Introduction to RBI –
The Reserve Bank of India is the central bank of our Country. This bank governs the working of other banks and financial institutions in India. RBI launched its operations from its headquarters in Kolkata on 1st April 1935. Currently, the headquarters of the RBI is in Mumbai. The Governor of the Reserve Bank of India is the chief executive of India’s central bank and the ex-officio chairperson of its Central Board of Directors.
What are the Roles of RBI Governors? –
The RBI Governor is the custodian of India’s reserves and defender of the external value of the currency.The RBI Governor heads the RBI and plays a central role in formulating, implementing and monitoring the monetary policy of India. Every note ever printed carries the Signature of the RBI Governor. So far, 24 governors have headed RBI. The Term of Office typically runs for 3 years.
Duties of the RBI Governor –
The RBI Governor has many powers, but the most significant ones are mentioned below:
- Banker’s Banker
- Control over Monetary, Currency and Credit system
- Heads all the Commercial Banks
- Signatures on Currency Notes
- Control over Stock Market
- Influence on Micro and Macro Economies
List of RBI Governors –
| S.N. | Governor Name | Tenure |
| 1. | Osborne Smith | April 1, 1935 to June 30, 1937 |
| 2. | James Brend Taylor | July 1, 1937 to February 17, 1943 |
| 3. | C. D. Deshmukh | August 11, 1943 to June 30 1949 |
| 4. | Benegal Rama Rao | July 1, 1949 to 14 January, 1957 |
| 5. | K. G. Amgaonkar | 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. | S. 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. | Amitabh Ghosh | January 15, 1985 to 4th February, 1985 |
| 17. | R. N. Malhotra | February 4, 1985 to December 22, 1990 |
| 18. | S. Venkatraman | 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 till date |
Things to Remember about RBI Governors –
Q: Name the RBI Governor who served the longest period in the RBI.
A: Benegal Rama Rao. He was the Governor of RBI from July 1, 1949 to January 14, 1957
Q: Name the RBI Governor who served the shortest period in the RBI.
A: Amitabh Ghosh. He was the Governor of RBI from 15 January 1985 to 4 February 1985 (Total 20 days)
Q: Name the three Deputy Governors of RBI.
A: Mr. B. P. Kanungo, Mr. Viral V. Acharya, and Mr. N. S. Vishwanathan.
Q: First Governor of the Reserve Bank.
A: Sir Osborne Smith
Q: Who was the first Indian RBI Governor?
A: C. D. Deshmukh
