Complete List of RBI Governors

RBI Governors List

The Reserve Bank of India or RBI is the highest banking authority in the country and is in charge of everything financial. The most important position in the RBI is the position of the governor, who presides and looks over all the things that go on. Many highly qualified people have served in this high-profile position, and it will serve you better if you know about them. Additionally, it will also help you with your competitive exam preparation. Read on to learn about the governors of RBI.

Present RBI Governor – Shaktikanta Das

Present RBI Governor: Shri Shaktikanta Das, IAS (Retd.), assumed office as the 25th Governor of the Reserve Bank of India on December 12, 2018. Before this appointment, he served as a Member of the 15th Finance Commission and as India’s G20 Sherpa.

With 38 years of extensive experience in governance, Shri Das has held key positions in both Central and State Governments, focusing on Finance, Taxation, Industries, and Infrastructure. During his tenure at the Ministry of Finance, he was directly involved in the preparation of 8 Union Budgets.

Shri Das has also served as India’s Alternate Governor at the World Bank, Asian Development Bank (ADB), New Development Bank (NDB), and Asian Infrastructure Investment Bank (AIIB). He has represented India in international forums such as the IMF, G20, BRICS, and SAARC, showcasing his significant contributions to global economic discussions.

List of Governors of RBI

S.No.	Governor	Tenure	Term in office
1	Sir Osborne Smith	April 1, 1935 – June 30, 1937	2 years, 90 days
2	Sir James Braid Taylor	July 1, 1937 – February 17, 1943	5 years, 241 days
3	Sir C.D. Deshmukh	August 11, 1943 – June 30, 1949	5 years, 324 days
4	Sir Bengal Rama Rau	July 1, 1949 – January 14, 1957	7 years, 197 days
5	K.G. Ambegaonkar	January 14, 1957 – February 28, 1957	45 days
6	H.V.R Lyengar	March 1, 1957 – February 28, 1962	4 years, 364 days
7	P.C Bhattacharya	March 1, 1962 – June 30, 1967	5 years, 121 days
8	Lakshmi Kant Jha	July 1, 1967 – May 3, 1970	2 years, 306 days
9	B.N. Adarkar	May 4, 1970 – June 15, 1970	42 days
10	Sarukkai Jagannathan	June 16, 1970 – May 19, 1975	4 years, 337 days
11	N.C. Sen Gupta	May 19, 1975 – August 19, 1975	92 days
12	K.R. Puri	August 20, 1975 – May 2, 1977	1 year, 255 days
13	M. Narasimham	May 3, 1977 – November 30, 1977	211 days
14	I.G. Patel	December 1, 1977 – September 15, 1982	4 years, 288 days
15	Manmohan Singh	September 16, 1982 – January 14, 1985	2 years, 120 days
16	Amitav Gosh	January 15, 1985 – September 4, 1985	20 days
17	R.N. Malhotra	February 4, 1985 – December 22, 1990	5 years, 321 days
18	S. Vpnldraramanan	December 22, 1990 – December 21, 1992	1 year, 365 days
19	C. Rangarajan	December 22, 1992 – November 21, 1997	4 years, 334 days
20	Bimal Jalan	November 22, 1997 – September 6, 2003	5 years, 288 days
21	Y.V. Reddy	September 6, 2003 – September 5, 2008	4 years, 365 days
22	D. Subbarao	September 5, 2008 – September 4, 2013	4 years, 364 days
23	Raghuram G. Rajan	September 4, 2013 – September 4, 2016	3 years
24	Urjit Ravindra Patel	September 4, 2016 – December 10, 2018	2 years, 98 days
25	Shaktikanta Das	December 12, 2018 – to Present	5 years, 165 days

Present RBI Deputy Governors

Shri Swaminathan J

Tenure: 26.06.2023 onwards

Shri T. Rabi Sankar

Tenure:

• 03.05.2021 – 02.05.2024
• 03.05.2024 onwards

Shri M. Rajeshwar Rao

Tenure:

• 09.10.2020 – 08.10.2023
• 09.10.2023 onwards

Dr. M.D. Patra

Tenure:

• 15.01.2020 – 14.01.2023
• 15.01.2023 – 14.01.2024
• 15.01.2024 onwards

First RBI Governor – Sir Osborne Smith

Sir Osborne Smith was the first Governor of the Reserve Bank of India (RBI). A seasoned professional banker, he spent over 20 years with the Bank of New South Wales and 10 years with the Commonwealth Bank of Australia before moving to India in 1926 to serve as the Managing Governor of the Imperial Bank of India.

His leadership at the Imperial Bank earned him significant recognition within India’s banking sector. Despite this, his views on key policy issues such as exchange rates and interest rates often conflicted with those of the Government. Consequently, he resigned before completing his three-and-a-half-year term. Notably, Sir Osborne did not sign any banknotes during his tenure as Governor.

First Indian RBI Governor – Sir C.D. Deshmukh

Chintaman Dwarkanath Deshmukh, a distinguished member of the Indian Civil Service, was the first Indian to serve as the Governor of the Reserve Bank of India (RBI). His association with the Bank began in 1939 when he was appointed as the Government’s liaison officer. He subsequently became the Secretary and, in 1941, the Deputy Governor of the Bank. Following the demise of James Taylor, Deshmukh took over as the Governor in August 1943.

During his tenure, Deshmukh played a pivotal role in several significant events. He represented India at the Bretton Woods negotiations in 1944, witnessed the transition to independence, and managed the partition of the country, which included the division of the Reserve Bank’s assets and liabilities between India and Pakistan. He also oversaw the smooth transition of the Reserve Bank from a shareholder-owned institution to a state-owned organization when it was nationalized on January 1, 1949. After his tenure at the RBI, Deshmukh served as the Union Finance Minister from 1950 to 1956.

Conclusion

Understanding the list of RBI Governors is essential for grasping the history and leadership of India’s central bank. Each governor has played a crucial role in shaping India’s monetary policy and financial stability. To excel in exams like RBI Grade B, Oliveboard offers specialized courses and test series. These resources provide comprehensive preparation, covering all aspects of the RBI syllabus. Additionally, Oliveboard’s materials are designed to help you succeed in other banking exams. Stay ahead with Oliveboard’s expert guidance and ace your RBI Grade B exam and other banking tests with confidence.

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FAQs – RBI Governors