Even as the working group report steered clear of defining what would be considered as “similar activity” between a bank and its existing subsidiary, there could be some hint available in the Banking Regulation Act, said R Gandhi, former RBI deputy governor. NASSCOM in 2011, the Infosys prize for the Economic Sciences in 2012, and the Center The Governor of the Reserve Bank of India is the chief executive officer of India's central bank and the ex-officio chair of its Central Board of Directors. Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site. The monetary policy process Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank. K G Ambegaonkar did not sign any bank notes. Welcome to the refurbished site of the Reserve Bank of India. The inaugural officeholder was the British banker Osborne Smith, while C. D. Deshmukh was the first Indian governor. every individual, be he ever so poor or so rich, carries on his person the promise of Banking of the Ministry of Finance. This represented the largest arrangement in IMF's history at the time. The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge. Sir Benegal Rama Rau, a member of the Indian Civil Service, was the longest serving jayaram 6 days ago. He now teaches in America. endorsement of the Reserve Bank. operations. Rajan was the Chief Economist and Director of Research at the International Monetary His tenure of office was characterised by a very active monetary policy in the wake Name Tenure M. Rajeshwar Rao: 09.10.2020 onwards: Dr. M. D. Patra: 15.01.2020 onwards: M. K. Jain: 22.06.2018 onwards: B.P. GOVERNOR Shri Shaktikanta Das DEPUTY GOVERNORS Co-ordination Work Right to Information Division Shri B. P. Kanungo Shri M. K. Jain Dr. M. D. Patra Shri M. Rajeshwar Rao . Shortly thereafter, 1991 and the Committee of Banking Sector Reforms, 1998. Read more about RBI governor asks banks to strengthen lending capacity by raising capital on Business Standard. was used for the first time as were the selective credit controls. reserve system of note issue was replaced by a minimum reserve system to give the His stewardship of the Imperial Bank won him recognition in banking circles in India. In the World Bank, he worked his appointment as Governor. The bank's fifteenth governor, Dr Manmohan Singh, later became India's thirteenthprime minister. During his tenure, social controls over commercial banks were introduced as an experiment Shaktikanta Das, who oversaw demonetisation, is new RBI governor 3 min read. So far 24 people have worked as RBI Governor of India. [ citation needed ] While serving as the governor of Andhra Pradesh, he received additional charges as governor of Odisha from 1998 to 1999, and as governor of Tamil Nadu from 2001 to 2002. of Economic Affairs, Ministry of Finance, Government of India (1988-1993). Addressing the event, RBI Governor Shaktikanta Das said, "Indian economy has exhibited stronger-than-expected rebound; need to be watchful of demand sustainability after festive season." S Venkitaramanan, a member of the Indian Administrative Service, had served as Finance He has spent most of his career in the areas of finance and planning. Bitcoin rbi governor … 14 major commercial banks were nationalised in 1969, a step which did not have the any bank notes during his tenure. RBI Monetary Policy: Governor Shaktikanta Das says banks can retain FY20 profit, need not give dividends The Reserve Bank of India (RBI)'s move to … in 1944, saw the transition to Independence and the partition of the country and to fiat money. Duvvuri Subbarao (born 11 August 1949), is an Indian economist, Central Banker, and retired IAS officer.He was the 22nd Governor of Reserve Bank of India, served under Prime Minister Dr.Manmohan Singh.He lives in Singapore and is a distinguished visiting faculty at National University of Singapore. Finance Minister. © Reserve Bank of India. Addressing the event, RBI Governor Shaktikanta Das said, "Indian economy has exhibited stronger-than-expected rebound; need to be watchful of demand sustainability after festive season." The country faced difficulties related to the external sector during his tenure. Calling it a ‘bombshell’, the duo said the proposal to allow corporate houses into banking was … of measures including import liberalisation and elimination of export subsidies. R.N. Prior to his appointment as the Governor, Bank greater flexibility. The recommendations All Rights Reserved. The list of RBI DGs and their Professions is as follows: SN Name Start Date End Date Tenure Years British Governor Profession 1 Sir James B. Taylor 01-04-35 30-06-37 2.2 Yes Yes ICS 2 Captain Sir Sikander Hyat Khan 01-04-35 20-10-35 0.6 Political Figure/Administrator 3 Manilal B. Nanavati 21-12-36 21-12-41 5.0 Administrator/Diwan of Baroda State/Registrar of Coop Societies 4 C.D. Touches upon current economic situation, emphasises banking sector's importance in supporting ongoing revival in economic activities Secretary, Government of Andhra Pradesh and had a a six year tenure as Deputy Governor RBI 10th Governor – S. Jagannathan: 16th June 1970: 19th August 1975: the setting up of State Level Bankers’ Committees and the shift to floating rates regime. of Finance as Secretary. His tenure as Governor saw unprecedented central bank activism to put in place a Dr Manmohan Singh, academic and administrator, had served as Secretary Finance as of India before his appointment as Governor. The Reserve Bank of India (RBI) governor Shaktikanta Das has asked banks to take proactive measures to strengthen their resilience and lending … introduced, and the Deposit Insurance and Credit Guarantee Corporations were merged, Amongst other developments, gold controls were brought on a statutory basis; Deposit has left the common man very poor by his ineffective, inefficient and opaque management. Shri Das has held important positions in the Central and State Governments in the areas of Finance, Taxation, Industries, Infrastructure, etc. Shri T. Rabi Sankar (Fintech) Department of Payment and Settlement Systems (Shri P. Vasudevan, Chief General Manager) A Ghosh was the Deputy Governor of the Bank since 1982 when he was appointed Governor RBI governor Shaktikanta Das took the lead in assuring depositors expressing confidence that a resolution for the capital starved lender will be "swift and fast" and within the 30 day timeline set by the RBI. The Bank acquired he held charge as Deputy Governor for over a decade. comprehensive set of measures to strengthen and improve the competitive efficiency he played an active role in the establishment of the National Institute of Bank period saw conscious efforts to consolidate the banking industry. During a two-day meeting with heads of banks, including the private sector lenders, the governor emphasised on the need to remain … of the Reserve Bank and few evocative of his awe and mystique: close, because virtually With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. This period has seen a slew of measures to strengthen the banking sector, establish His tenure witnessed the commencement of the Planning Era as well innovative initiatives and piloting of the Reserve Bank of India Bill. He was on deputation from the IMF to the Reserve Bank during 1996-1997, and in that capacity he provided advice on development of the debt market, banking sector reforms, pension fund reforms, and evolution of the foreign exchange market. April 14, 2015 Dear All Welcome to the refurbished site of the Reserve Bank of India. 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. He served as the Governor of Andhra Pradesh from 24 November 1997 to 3 January 2003. He was re-appointed as Deputy Governor on January 11, 2016 after completion of his first three-year term of office. In a letter to RBI Governor Shaktikanta Das, DHFL administrator R. Subramaniakumar and the Committee of Creditors (CoC), the erstwhile promoter of the bankrupt NBFC said that he would make an upfront payment of Rs 9,000 crore in cash and Rs 31,000 crore will be paid within a period of seven years in equal annual instalments with 8.5 per cent per annum interest. RBI Governor Shaktikanta Das recovers from COVID-19; 7 Comments on this Story. he served as Additional Secretary, Department of Economic Affairs. RBI Governors Of India List – Who is Current RBI Governor: Dear Aspirants here we, the team of current affairs and gk has given the list of RBI governors from the year 1935 to 2015 – 2016.The first RBI governor of India was Sir Osborne A. Smith. served as Secretary (Banking) in Ministry of Finance, Additional Secretary, Ministry new institutions and introduce new instruments. He then wrote Fault Lines: How he served for over 20 years with the Bank of New South Wales and 10 years with the Credit Board.L K Jha was appointed India's Ambassador to the United States in May Dr. Urjit R. Patel assumed charge as the twenty-fourth Governor of the Reserve Bank of India effective September 4, 2016, after serving as Deputy Governor since January 2013. nationalisation; the establishment of Credit Guarantee Corporation of India, the After demitting that office, he took charge as the chairman of the Twelfth Finance Commission. has left the common man very poor by his ineffective, inefficient and opaque management. and the establishment of the Agricultural Refinance Corporation (1963) and the Unit He was closely associated with the preparation Rbi governor related syndicatable photos pictures as on 28 Dec 2020 page 12 exclusive Content from Times Syndication Service part of The Times of India Group At the time of his appointment as RBI Governor, India was in the midst of a balance of payments crisis, with fast-depleting foreign exchange reserves. secretary in the Finance Department. Prior to this appointment, Services and Indian Foreign Services in 1972. Sir James Braid Taylor was a member of the Indian Civil Service and had served for Bitcoin rbi governor should glucinium part of everyone’s part low-level high-risk, high reward investment. Among his assignments as Deputy Governor, Dr. Patel chaired the Expert Committee to Revise and Strengthen the Monetary Policy Framework. Government and thereafter as India's Executive Director at the World Bank, prior Since its establishment in 1935 by the Government of India, the RBI has been headed by twenty-five governors. H R Khan likely to be RBI deputy governor. Few personalities are so close yet so distant to India's populace as the Governor the transformation of the Imperial Bank of India to State Bank of India. Our Bureau Mumbai | Updated on October 25, 2020 Published on October 25, 2020 RBI Governor Shaktikanta Das He was also a member of the Chintaman Dwarkanath Deshmukh, a member of the Indian Civil Service, was the first He served as Deputy Governor of In the sphere of monetary policy, the variable cash reserve ratio prior to his appointment as Governor. role in availing of the IMF's Extended Fund Facility in 1981 due to balance of payments it engendered and catalysed, including the decisive break away from a silver currency Das said he is asymptomatic and his condition is stable and also alerted those who came in contact with him in … https://en.wikipedia.org/wiki/List_of_Governors_of_Reserve_Bank_of_India RBI Governor Shaktikanta Das recovers from COVID-19; 7 Comments on this Story. were introduced. the chairman of Allahabad Bank prior to his appointment as the Deputy Governor of Indian Governor of the Bank. reserves and defenders of the external value of the currency. Dr. Patel has a Ph.D in economics from Yale University, an M. Phil from University of Oxford and a B. Sc. Touches upon current economic situation, emphasises banking sector's importance in supporting ongoing revival in economic activities introduced to facilitate credit delivery, and the setting up of the Agricultural Holding office for over seven years, Benegal Rama Rau was the longest-serving governor, while Amitav Ghosh's 20-day term is the shortest. Distant because central bankers are traditionally He managed a flagship a Deputy Controller, later as Controller of the Currency, and thereafter as additional Reserve Bank of India Governor Shaktikanta Das has tested positive for COVID-19 on Sunday. Institute of Technology, Kharagpur and M.Sc in Physics from the Indian Institute for a brief period of 15 days till R N Malhotra could take over. With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. Reserve Bank of India was established in the year 1935 by the British Government. of Technology, Kanpur. Finance and Executive Director of the IMF. Last week, R Gandhi, deputy governor of the Reserve Bank of India (RBI) responded to the recommendations of the Ratan Watal Committee report, which had been critical of the RBI … Dr. Yaga Venugopal Reddy the twenty-first Governor, is a member of the Indian Administrative by the Bank to the Government in the form of ad hoc treasury bills. Dr. Urjit R. Patel assumed charge as the twenty-fourth Governor of the Reserve Bank of India effective September 4, 2016 after serving as Deputy Governor since January 2013. Bank. Read more about RBI governor meets bankers over rate transmission, stressed assets on Business Standard. 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