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List of Governors of Reserve Bank of India

GovernorTermDescription
Osborne Smith1935–1937The first Governor of the Reserve Bank of India, he played a crucial role in setting up the institution and its initial policies.
James Braid Taylor1937–1943Taylor focused on stabilizing the Indian rupee and implementing monetary policies to support economic development.
C. D. Deshmukh1943–1949Deshmukh navigated the Reserve Bank through the challenges of World War II and post-war reconstruction efforts.
Benegal Rama Rau1949–1957Rama Rau’s tenure saw the establishment of the Planning Commission and significant changes in monetary policy.
K. G. Ambegaonkar1957–1957Served as the Governor of the Reserve Bank for a brief period.
H. V. R. Iyengar1957–1962Iyengar focused on modernizing the banking system and enhancing the role of the Reserve Bank in economic planning.
P. C. Bhattacharya1962–1967Bhattacharya’s tenure saw the nationalization of major banks and the expansion of banking services in rural areas.
L. K. Jha1967–1970Jha emphasized the importance of monetary stability and effective regulation of the financial sector.
B. N. Adarkar1970–1970Adarkar served as the acting Governor for a brief period.
S. Jagannathan1970–1975Jagannathan focused on managing inflation and stabilizing the economy amidst global economic challenges.
N. C. Sen Gupta1975–1975Sen Gupta served as the acting Governor for a brief period.
K. R. Puri1975–1977Puri’s tenure witnessed significant changes in monetary policy and banking regulations.
M. Narasimham1977–1977Narasimham served as the acting Governor for a brief period.
I. G. Patel1977–1982Patel focused on strengthening banking regulations and promoting financial stability.
Manmohan Singh1982–1985Singh played a crucial role in liberalizing India’s economy and implementing financial reforms.
Amitav Ghosh1985–1985Ghosh served as the acting Governor for a brief period.
R. N. Malhotra1985–1990Malhotra introduced significant reforms in the banking sector and emphasized the role of technology in banking operations.
S. Venkitaramanan1990–1992Venkitaramanan focused on maintaining exchange rate stability and promoting financial sector reforms.
C. Rangarajan1992–1997Rangarajan’s tenure saw the initiation of economic liberalization measures and efforts to strengthen the banking system.
Bimal Jalan1997–2003Jalan focused on inflation targeting and implementing monetary policies to support economic growth.
Y. V. Reddy2003–2008Reddy emphasized financial inclusion and stability, contributing to India’s robust economic growth during his tenure.
D. Subbarao2008–2013Subbarao’s tenure was marked by efforts to manage the global financial crisis and contain inflationary pressures.
Raghuram Rajan2013–2016Rajan focused on restoring macroeconomic stability, strengthening banking regulations, and promoting financial inclusion.
Urjit Patel2016–2018Patel prioritized monetary policy transparency and accountability, implementing measures to address non-performing assets.
Shaktikanta Das2018–presentDas has focused on maintaining price stability, supporting economic growth, and enhancing regulatory frameworks in banking.

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