RBI Governors of India
The Central Bank of India is the Reserve Bank of India, or RBI. The Reserve Bank of India (RBI) was created on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934, and on the advice of the “Hilton-Young Commission.” The RBI was formerly privately held, but on January 1, 1949, with India’s independence, it was entirely transformed into a Government Bank.
List of RBI Governors of India
Here’s a complete List of RBI Governors of India:
|RBI Governors Name||Time Period|
|Sir Osborne Smith||April 1, 1935 – June 30, 1937|
|Sir James Braid Taylor||July 1, 1937 – February 17, 1943|
|Sir C.D. Deshmukh||August 11, 1943 – June 30, 1949|
|Sir Bengal Rama Rau||July 1, 1949 – January 14, 1957|
|K.G. Ambegaonkar||January 14, 1957 – February 28, 1957|
|H.V.R Lyengar||March 1, 1957 – February 28, 1962|
|P.C Bhattacharya||March 1, 1962 – June 30, 1967|
|L.K. Jha||July 1, 1967 – May 3, 1970|
|B.N. Adarkar||May 4, 1970 – June 15, 1970|
|S. Jagannathan||June 16, 1970 – May 19, 1975|
|N.C. Sen Gupta||May 19, 1975 – August 19, 1975|
|K.R. Puri||August 20, 1975 – May 2, 1977|
|M. Narasimham||May 3, 1977 – November 30, 1977|
|I.G. Patel||December 1, 1977 – September 15, 1982|
|Manmohan Singh||September 16, 1982 – January 14, 1985|
|Amitav Gosh||January 15, 1985 – September 4, 1985|
|R.N. Malhotra||February 4, 1985 – December 22, 1990|
|S. Vpnldraramanan||December 22, 1990 – December 21, 1992|
|C. Rangarajan||December 22, 1992 – November 21, 1997|
|Bimal Jalan||November 22, 1997 – September 6, 2003|
|Y.V. Reddy||September 6, 2003 – September 5, 2008|
|D. Subbarao||September 5, 2008 – September 4, 2013|
|Raghuram G. Raj an||September 4, 2013 – September 4, 2016|
|Urjit Ravindra Patel||September 4, 2016 – December 10,2018|
|Shaktikanta Das||December 12, 2018 – to date|
RBI Governor Office
The RBI’s main office was first located in Kolkata before being moved to Mumbai in 1937. Osborne Smith was the first governor of the RBI, and Sir C. D. Deshmukh was the first Indian governor. RBI currently has 25 governors. The governor of the Indian RBI is Mr. Shaktikanta Das. He is the 25th RBI Governor and is in charge of all RBI operations.
RBI Governor Appointment
RBI governor is chosen the national government has the authority to select Governors and Deputy Governors to the Reserve Bank of India under Section 8 of the RBI Act 1934. Shaktikanta Das was just named the RBI’s Governor for a three-year term.
RBI Governor Qualification
The Governor’s qualifications are not specified in the RBI Act. In the past, governorships have been chosen for individuals with various educational backgrounds. But in order to lead the RBI, a person must be familiar with financial or economic strategy and have worked as an economist or with the (Economic Affairs Secretary/Financial Secretary, etc.). Therefore, rather than being a regulation, the requirement for Governor is a matter of convention.
RBI Governor Salary
The sources claim that the RBI Governor of India receives a monthly salary of 350,000. In addition to receiving a salary, the governor is also entitled to a rent-free official dwelling, free utilities, and transportation. The governor and his family are given free access to lifelong medical care, lodging, and treatment.
RBI Governor Tenure
The official term for an RBI governor is three years, although in rare circumstances, that term may be extended by an additional two years. The RBI’s longest-serving governor, Benegal Rama Rau, served for 7 years and 197 days. With barely 20 days in office, Amitav Ghosh was India’s governor with the shortest tenure. There are just two circumstances under which the Governor may be removed from office:
- When the President dismisses someone.
- Governor submits letter of resignation to President.
RBI Governor Functions
- Monetary Authority: The RBI oversees the implementation of monetary policy.
- Financial System Regulator and Supervisor: The Reserve Bank of India (RBI) sets broad guidelines for banking activities under which the nation’s banking and financial system operates.
- Manager of Foreign Exchange: Manages India’s foreign exchange reserves and oversees the preservation of the rupee’s external value.
- The currency’s issuer issues, trades, or destroys notes and coins that are unfit for circulation.
- Developmental Role: RBI carries out tasks to assist national goals for financing agriculture and rural areas.
RBI Governor at Present
The Reserve Bank of India’s 25th governor is currently Shaktikanta Das. He served as India’s G20 Sherpa and a member of the 15th Finance Commission in the past. Das is a Tamil Nadu cadre retired Indian Administrative Service officer from the 1980 batch.
First RBI Governor
Sir Osborne Smith was the first Governor of the Reserve Bank of India.
RBI Governors of India FAQs
Q. How many governors are there in RBI?
Ans. So far RBI has had 25 governors. Osborne Smith was the first governor of RBI in 1935 and Shaktikanta Das is the current governor of RBI. One of the major responsibilities that RBI holds is to form a monetary policy.
Q. Who is the 23 governor of RBI?
Ans. Dr. Raghuram Rajan assumed charge as the 23rd Governor of the Reserve Bank of India on September 4, 2013.
Q. Who is the 24 governor of RBI?
Ans. Urjit Patel is the 24 governor of RBI
Q. Who is the 25th governor of RBI?
Ans. Shaktikanta Das is the 25th governor of RBI
Q. Who is RBI governor in 2022?
Ans. Shri Shaktikanta Das, IAS Retd., former Secretary, Department of Revenue and Department of Economic Affairs, Ministry of Finance, Government of India assumed charge as the 25th Governor of the Reserve Bank of India effective December 12, 2018.
Q. Who is the first lady governor of RBI?
Ans. Usha Thorat is the first lady governor of RBI