The Governor of the Reserve Bank of India (RBI) is the most senior official at India’s central bank. Since the RBI’s establishment in 1935, there have been 25 Governors. The inaugural Governor was Sir Osborne Smith.
The Government of India appoints the Governor of the RBI for a fixed term of five years. Notably, all Indian currency notes bear the signature of the RBI Governor, except the one-rupee note, which the Finance Secretary of India signs.
Refer to the official records for a comprehensive list of all 25 RBI Governors from 1935 to 2022. Since its inception by the British colonial government in 1935, the RBI has seen 25 individuals serve as its Governor.
List of RBI Governors from 1935 to 2024
| List Of Governors | |||
| Serial no. | Name Of Governor | Duration | |
| Current Governor | From | till | |
| 25 | Shri Shaktikanta Das | 12.12.2018 | So far |
| former governor | |||
| 24 | Dr. Urjit Patel | 04.09.2016 | 11.12.201844 |
| 23 | Dr. Raghuram Rajan | 04.09.2013 | 04.09.2016 |
| 22 | Dr. D. Subbarao | 05.09.2008 05.09.2011 | 04.09.2011 Advertisements 04.09.2013 |
| 21 | Dr. Y.V. Reddy | 06.09.2003 | 05.09.2008 |
| 20 | Dr. Vimal Jalan | 22.11.1997 | 05.09.2003 |
| 19 | Dr. C. Rangarajan | 22.12.1992 22.12.1995 | 21.12.1995 22.11.1997 |
| 18 | Shri S. Venkitaramanan | 22.12.1990 | 21.12.1992 |
| 17 | Shri R.N. Malhotra | 04.02.1985 | 22.12.1990 |
| 16 | Mr. Amitabh Ghosh | 15.01.1985 | 04.02.1985 |
| 15 | Dr. Manmohan Singh | 16.09.1982 | 14.01.1985 |
| 14 | Dr. I.G. Patel | 01.12.1977 | 15.09.1982 |
| 13 | Shri M. Narasimham | 02.05.1977 | 30.11.1977 |
| 12 | Shri K.R. Puri | 20.08.1975 | 02.05.1977 |
| 11 | Shri N.C. Sen Gupta | 19.05.1975 | 19.08.1975 |
| 10 | Shri S. Jagannathan | 16.06.1970 | 19.05.1975 |
| 9 | Shri B.N. Aadarkar | 04.05.1970 | 15.06.1970 |
| 8 | Shri Laxmikant Jha | 01.07.1967 | 03.05.1970 |
| 7 | Shri P.C. Bhattacharya | 01.03.1962 | 30.06.1967 |
| 6 | Shri H.V.R. Iyengar | 01.03.1957 | 28.02.1962 |
| 5 | Shri K.G. AMBEGAONKAR | 14.01.1957 | 28.02.1957 |
| 4 | Shri Benegal Rama Rao | 01.07.1949 | 14.01.1957 |
| 3 | Shri Chintaman Dwarkanath Deshmukh * | 11.08.1943 | 30.06.1949 |
| 2 | Sir James Brad Taylor | 01.07.1937 | 17.02.1943 |
| 1 | Sir Ashburn A. Smith | 01.04.1935 | 30.06.1937 |
Shaktikanta Das Current RBI Governor
The Governor of the Reserve Bank of India (RBI) is the most senior official of India’s central bank. Since the RBI’s establishment in 1935, there have been 25 Governors. The inaugural Governor was Sir Osborne Smith.
The Government of India appoints the Governor of the RBI for a fixed term of five years. Notably, all Indian currency notes bear the signature of the RBI Governor, except the one-rupee note, which the Finance Secretary of India signs.
The current Governor of the RBI is Shaktikanta Das, a former Finance Secretary and member of the Finance Commission. He assumed office on December 11, 2018, becoming the 25th Governor of the Reserve Bank.
The Appointments Committee of the Cabinet (ACC) has approved an extension of his tenure for an additional three years from December 10, 2021. Before being appointed the RBI Governor, Das served as a member of the 15th Finance Commission. He is a 1980-batch Indian Administrative Service (IAS) officer of the Tamil Nadu cadre.
Refer to the official records for a comprehensive list of all 25 RBI Governors from 1935 to 2022. Since its inception by the British colonial government in 1935, the RBI has seen 25 individuals serve as its Governor.
How is the RBI Governor appointed?
The Government of India appoints the Governor of the Reserve Bank of India (RBI). According to rbi.org.in, the official website of the RBI, the institution’s affairs are overseen by a Central Board of Directors appointed by the Reserve Bank of India Act.
Role and Responsibility of RBI Governor
The RBI Governor holds several pivotal responsibilities to positively influence India’s economy. These essential duties include:
- Ensuring monetary stability as the head of the RBI involves formulating crucial economic policies.
- Issuing licenses for new foreign and private banks.
- Setting minimum lending rates and interest rates on savings accounts to regulate interest rates on advances and deposits.
- Overseeing and administering the nation’s financial system, establishing operational parameters.
- Managing external trade and payments and fostering the orderly development of India’s foreign exchange market under the Foreign Exchange Management Act 1999.
- Monitoring the supply of currency notes and coins and overseeing their issuance and destruction.
- Enhancing customer-friendly rules and regulations.
- Supervising primary cooperative banks through the Urban Bank Departments.
- Facilitating and monitoring credit flow to small-scale industries and rural and agricultural sectors.
- Regulating state cooperative banks, regional rural banks, and various local area banks.
Throughout history, RBI Governors have effectively managed India’s financial challenges, safeguarding the nation’s economic stability and growth.”
Frequently Asked Questions, Rbi governor
Who appoints the RBI Governor?
The Government of India appoints the RBI Governor based on the Prime Minister’s recommendations, which are made in consultation with the Finance Minister.
What are the roles and responsibilities of the RBI Governor?
The RBI Governor heads the Reserve Bank of India (RBI). He is responsible for formulating and implementing monetary policy, regulating and supervising financial institutions, managing the country’s foreign exchange and reserves, and ensuring economic stability.
How long is the term of the RBI Governor?
The term of the RBI Governor is typically three years. However, the government can extend it at its discretion.
Who was the first RBI Governor of India?
The first RBI Governor of independent India was Sir Osborne Smith, who served from 1935 to 1943.
What qualifications are required to become the RBI Governor?
The RBI Governor is typically an eminent economist, banker, or senior bureaucrat with extensive experience in economics, finance, or banking. A deep understanding of monetary policy, financial markets, and economic management is essential.
Can the RBI Governor be removed from office?
Yes, the RBI Governor can be removed from office by the President of India, upon the recommendation of the Prime Minister, under specific circumstances such as incapacity or proven misconduct.
Conclusion
The RBI Governor is crucial in shaping India’s monetary policy, maintaining financial stability, and overseeing the country’s banking sector. Appointed by the Government of India, the governor holds significant responsibilities in managing the economy’s monetary framework and ensuring the soundness of financial institutions.
With a term typically spanning three years, the RBI Governor’s qualifications usually include a strong background in economics, banking, or public policy. Overall, the RBI Governor plays a pivotal role in India’s economic governance and financial regulation, influencing policies that impact the nation’s economic growth and stability.
