RBI Governors List With Name And Tenure [Updated]

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Reserve bank of India which is also termed as Central Bank of India is responsible to govern the monetary policy of the country. RBI was established on 1st April 1935 under the RBI Act, 1934 and was formed with the recommendation of “HILTON-YOUNG Commission”. It was initially established as a privately owned bank and got nationalized on 1st January 1949 after the independence of India. RBI is headquartered in Mumbai but initially, it was located in Kolkata and shifted to Mumbai in 1937.

RBI consists of the following members:

  1. Governor-1
  2. Deputy Governor-4
  3. Directors-14
  4. Government Officers-2

The present Governor of RBI is Shri Shaktikanta Das. He was appointed on 12th December 2018. Among the ten directors, four are nominated by the local board committee whereas the rest of the ten members are appointed by the Government of India.

RBI has the following subsidiaries:

  1. NHB(National Housing Bank)
  2. BRBNMPL or Bhartiya Reserve Bank Note Mudran Private Limited
  3. NABARD or National Bank for Agriculture and Rural Development
  4. Deposit Insurance and Credit Guarantee Corporation(DICGC)

Now let’s talk about some functions of RBI:

  • RBI issues the currency notes.
  • It also acts as a Banker to the government.
  • It holds cash reserves and foreign currency reserves.
  • RBI is also known as the lender of last resort.
  • RBI maintains a minimum reserve system of 200 crore rupees in a form of gold and foreign exchange reserves out of which 115 crore rupees must be in form of gold.

RBI Governor:

The Governor of RBI is the chief head of the Reserve bank of India. He implements policies of RBI to the benefit of the monetary status of the country. The status of RBI governor is the same as that of a state minister.

Who can become a Governor?

Initially, RBI Governors were a part of Indian Civil services like C D Deshmukh, Bengal Rama Rao etc. but any individual who holds a Graduate degree/ Post Graduate/Chartered Accountant can become a Governor of RBI provided that he had worked in any of the following institutions:

  1. IMF/ World Bank.
  2. Chairman or General Manager of a Bank.
  3. Reputed Financial or Banking organization.
  4. Ministry of Finance (GOI)

Other than the above any citizen who is 35 years or above than that is eligible. He must not be a member of the Parliament/State Legislature also he must not hold any other office for profit.

Who appoints the Governor of RBI?

The Governor of RBI is not elected but appointed by the PMO (Prime Minister Office) with the recommendation of Union Finance Minister.

Tenure:

Tenure of a Governor is five years however, it can be terminated in two cases and they are as follows:

  1. If dismissed by the President.
  2. Resignation is submitted by the Governor to the President.

Functions of the RBI Governor:

  1. Responsible to administer and monitor currency issuance.
  2. Responsible to issue a license to new private banks and also to foreign banks in India.
  3. To ensure that the policy which is introduced by the RBI is implemented timely for the rural of the society. Responsible for regulation and administration of the Indian financial system.
  4.  Responsible for maintaining foreign exchange in India. Regulates and manage (FEMA) Foreign exchange and management Act 1999 Act.

Above were some functions regulate by the RBI Governor. Now let’s have look on the list of the past 25 RBI Governors of India.

RBI Governor Name Tenure
Osborne Smith 1st t April 1935 to 30th  June 1937
James Brend Taylor 1st  July 1937 to 17th February 1943
C. D. Deshmukh 11th  August 1943 to 30th June 1949
Benegal Rama Rao 1st July 1949 to 14th January 1957
 K. G. Ambegaonkar 14th January 1957 to 28th  February 1957
H. V. R. Iyengar 1st March 1957 to 28th February 1962
P. C. Bhattacharya  1st March  1962 to  30th June 1967
L. K. Jha  1st  July  1967 to 3rd  May 1970
B. N. Adarkar   4th  May  1970 to  15th  June  1970
S. Jagannathan   19th  June  1970 to 19th May  1975
N. C. Sen Gupta  19th May  1975 to 19th  August  1975
K. R. Puri   20th  August 1975 to 2nd  May 1977
M. Narasimhan   2nd May  1977 to 30th November 1977
I.G. Patel 1st December  1977 to 15th  September 1982
Manmohan Singh 16th  September  1982 to 14th January 1985
Amitabh Ghosh  15th  January  1985 to 4th February 1985
R. N. Malhotra  4th  February 1985 to 22nd  December  1990
S. Venkatraman  22nd  December 1990 to 21st  December 1992
C. Rangarajan 21st  December 1992 to 21st  December 1995 22nd  December 1995 to 22nd  November 1997
Bimal Jalan 22nd  November 1997 to 5th  September  2003
Y. V. Reddy 6th  September 2003 to 5th  September 2008
D. Subbarao 5th  September 2008 to 4th  September  2011 5th  September 2011 to 4th  September  2013
Raghuram Rajan 4th September 2013 to 4th  September 2016
Urjit Patel  4th  September 2016 to 11th  December  2018
Shashikant Das  12th December 2018 onwards

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Also Read:

Governors of States and Union Territories of India

PCA Full Form

RBI and its functions

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