Immediately prior to his current assignment, he was acting as Member, 15th Finance Commission and G20 Sherpa of India. Immediately prior to his current assignment, he was acting as Member, 15th Finance Commission and G20 Sherpa of India. Reactions of the markets to Das' appointment was positive, with BSE SENSEX gaining 629 points and NIFTY 50 increasing by 188 points. The proportional reserve system of note issue was replaced by a minimum reserve system to give the Bank greater flexibility. RBI governor with the shortest term is Amitabh Ghosh (20 days. Made with by IBPSGuide, Click here for Banking Awareness Materials, “20-20” Quantitative Aptitude | Crack SBI Clerk 2018 Day-22, Expected Static GK Questions for Upcoming Exams 2018 (Day-9). He has several publications to his credit mainly in areas relating to finance, planning and public enterprises. Dr. Rajan’s research interests are in banking, corporate finance, and economic development, especially the role finance plays in it. K R Puri served as the Chairman and Managing Director of the Life Insurance Corporation of India before his appointment as Governor. Born on August 11, 1949, Dr. Subbarao holds a B.Sc (Hons) in Physics from the Indian Institute of Technology, Kharagpur and M.Sc in Physics from the Indian Institute of Technology, Kanpur. C.D. He was the President of the American Finance Association in 2011 and is a member of the American Academy of Arts and Sciences. He served as Secretary (Banking) in Ministry of Finance, Additional Secretary, Ministry of Commerce, Joint Secretary in Ministry of Finance in Government of India, Principal Secretary, Government of Andhra Pradesh and had a six-year tenure as Deputy Governor of the Reserve Bank of India. Between 2003 and 2006, Dr. Rajan was the Chief Economist and Director of Research at the International Monetary Fund. K. G. Ambegaokar, a member of the Indian Civil Service, served as Finance Secretary prior to his appointment as Deputy Governor. Prior to his appointment as the Governor, he was working as Secretary to the Department of Banking of the Ministry of Finance. He was re-appointed as Deputy Governor on January 11, 2016, after completion of his first three-year term of office. He helped the smooth transition of the Bank from a shareholder’s institution to a State-owned organisation, when the Bank was nationalised on 1st January 1949. 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. The formulation of economic policies cannot be made without his involvement. 30 days is the outer limit. The Governors of the Reserve Bank of India have certain roles and responsibilities. National Agriculture and Rural Development Bank (NABARD). This is the first board meeting after the RBI… He had a short tenure of seven months. Dr. Subbarao has earlier been Secretary to the Prime Minister‘s Economic Advisory Council (2005-2007), lead economist in the World Bank (1999-2004), Finance Secretary to the Government of Andhra Pradesh (1993-98) and Joint Secretary in the Department of Economic Affairs, Ministry of Finance, Government of India (1988-1993). The bank's 15th governor, Dr Manmohan Singh, later became India's 13th prime minister. 2. He then wrote Fault Lines: How Hidden Fractures Still Threaten the World Economy, for which he was awarded the Financial Times-Goldman Sachs prize for best business book in 2010. He also governs the Urban Co-operative banks. It can be noted that India’s economy contracted by 23.9 per cent … The first Governor was the British banker Osborne Smith. Based on the work efficiency the tenure may be extended. Shri Das has held important positions in the Central and State Governments in the areas of Finance, Taxation, Industries, Infrastructure, etc. As per the exam point of view, the RBI governor list is one of the important topics for all the competitive examinations. L K Jha, a member of the Indian Civil Service, served as Secretary to the Prime Minister, prior to his appointment as Governor. Deposit Insurance and Credit Guarantee Corporation (DICGC). Monitors the issue and exchange of the currency and coins. This period has seen a slew of measures to strengthen the banking sector, establish new institutions and introduce new instruments. His tenure as Governor saw unprecedented central bank activism to put in place a comprehensive set of measures to strengthen and improve the competitive efficiency of the financial sector. Malhotra, a member of the Indian Administrative Service, served as Secretary, Finance and Executive Director of the IMF. Dr. Subbarao was a topper in the All India Civil Service examination for entry into Indian Administrative Services and Indian Foreign Services in 1972. S.No. Dr. Reddy has made significant policy contributions in the areas of financial sector reforms; trade finance; monitoring of balance of payments and exchange rate; external commercial borrowings; centre-state financial relations; regional planning; and public enterprise reform and has been closely associated with institution building. However, the RBI governor … The period has been characterised by the strengthening of the balance of payments and forex position, low inflation, and soft interest rates. In the field of rural finance, the Service Area Approach was adopted as an approach catalyse the flow of credit through commercial banks. Prior to this appointment, Dr. Subbarao was the Finance Secretary in the Ministry of Finance, Government of India. B N Adarkar held the post of Governor during the interregnum till S Jagannathan could take over as Governor. Amongst other developments, gold controls were brought on a statutory basis; Deposit Insurance was in principle extended to Cooperative banks; the Lead Bank Scheme was introduced to facilitate credit delivery and the setting up of the Agricultural Credit Board. Amitav Ghosh’s 20-day term is the shortest. Kindly utilize this article to improve your knowledge and skill. S Venkitaramanan, a member of the Indian Administrative Service, had served as Finance Secretary and adviser to the Government of Karnataka prior to his appointment as Governor. Dr. His stewardship of the Imperial Bank won him recognition in banking circles in India. His tenure saw the establishment of the Industrial Development Bank of India (1964), and the establishment of the Agricultural Refinance Corporation (1963) and the Unit Trust of India (1964). Shaktikanta Das became the twenty-fifth governor of the Reserve Bank of India on 12 December 2018. Who appoints RBI Governor? The period saw conscious efforts to consolidate the banking industry. Representing India, he actively participated in steering the signing into force of the inter-governmental treaty and the Inter-Central Bank Agreement (ICBA) among the BRICS nations, which led to the establishment of the Contingent Reserve Arrangement (CRA), a swap line framework among the central banks of these countries. New institutions and instruments were introduced and changes in exchange rate management culminated in the establishment of a unified exchange rate. You will see very swift action by RBI to put in place a scheme to revive Yes Bank," Das said. Candidates who are preparing for competitive exams should be aware of the RBI governor list of India. Viral Acharya, who was appointed as the RBI deputy governor on January 23, 2017 for a three-year term, had in October 2018 raised concern over the importance of RBI's independence. 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. Addressing the 4th Annual Day of Foreign Exchange Dealers’ Association of India (FEDAI), he cited that a multi-speed normalisation of activity in Q2FY21, after the country witnessed a sharp contraction in GDP […] A Ghosh was the Deputy Governor of the Bank since 1982 when he was appointed Governor for a brief period of 15 days till R N Malhotra could take over. The Governor of the Reserve Bank of India is the Chief Executive Officer of India’s central bank (RBI) and the chairperson of its Central Board of Directors. So far 24 people have worked as RBI Governor of India. Urjit Ravindra Patel or Urjit Patel is an Indian economist, who is currently serving as 24th Governor of Reserve Bank of India since September 2016. The succession of governors began with Sir Osborn Smith.