Important Facts About RBI / List of Governors of Reserve Bank of India

Reserve Bank of India 

➤ RBI is the highest monetary authority of India. 

➤ Establishment: April 1, 1935

➤ Act year : RBI Act 1934

➤ First Governor of RBI : Osborn Smith

➤ Earlier Head office of RBI : Kolkata

➤ Current Head Office ( Since 1937) : Mumbai

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➤ The commission, who recommended the establishment of RBI : Royal commission 

➤ Chairman of Royal commission : Hilton Young

➤ Nationalization of RBI : January 1,1949

➤ Governor at the time of Nationalization : C D Deshmukh (first Indian Governor of RBI)

➤ Recent governor of RBI : Shaktikant DAS

➤ Working of RBI:

1.For the development of country 

2.As a central bank of India 

For the development of country:

• Expanding currency supply for financing development plans
• Resource mobilization and supply of adequate credit
• Increasing the flow of bank credit to the priority sectors
• Controlling inflation and containing cost escalation
• Creation of a strong infrastructure and expansion of institutional facilities for agricultural and industrial finance
• Advising government on plan matters
• Economic surveys and collecting basic statistics

As a central bank of India :

• To issue currency 
• To regulate the banks
• Bankers bank
• Banker of Govt.
• To control the liquidity of money 
• To review monetary policy 
• To issue new banking license 
• To represent the country at international level 
• To regulate foreign exchange market  

list of RBI Governor :

1	Osborne Smith		April 1, 1935 to June 30, 1937
2	James Brend Taylor		July 1, 1937 to February 17, 1943
3	C. D. Deshmukh		August 11, 1943 to June 30, 1949
4	Benegal Rama Rao		July 1, 1949 to 14 January 1957
5	K. G. Amgaonkar		January 14, 1957 to 28 February 1957
6	H. V. R. Iyengar		March 1, 1957 to February 28, 1962
7	P. C. Bhattacharya		March 1, 1962 to June 30, 1967
8	L. K. Jha		July 1, 1967 to May 3, 1970
9	B. N. Adarakar		May 4, 1970 to June 15, 1970
10	S. Jagannathan		June 16, 1970 to May 19, 1975
11	N. C. Sen Gupta		May 19, 1975 to 19th August, 1975
12	K. R. Puri		August 20, 1975 to May 2, 1977
13	M. Narasimhan		May 3, 1977 to November 30, 1977
14		I.G. Patel	December 1, 1977 to 15 September, 1982
15	Manmohan Singh		September 16, 1982 to 14 January 1985
16	Amitabh Ghosh		January 15, 1985 to 4th February, 1985
17	R. N. Malhotra		February 4, 1985 to December 22, 1990
18	S. Venkatraman		December 22, 1990 to December 21, 1992
19	C. Rangarajan		December22,1992 to  November 21, 1997
20	Bimal Jalan		November 22, 1997 to September 6, 2003
21	Y.V.Reddy		September 6, 2003 to September 5, 2008
22	D. Subbarao		September 5, 2008 to September 4, 2013
23	Raghuram Rajan		September 4, 2013 to September 4, 2016
24	Urjit Patel		September 4, 2016 to 11 Dec.2018
25	Shashikantdash		From 12 Dec.2018

NOTE:

➤ The person who worked as the Governor of Reserve Bank of India for the longest time  (total of 7 years, 197 day) was Benegal Rama Rao. He was on his post from July 1, 1949 to January 14, 1957.NOTE:

➤ The person who worked for the shortest time as the Governor of the Reserve Bank of India was Amitabh Ghosh. He was employed for a total of 20 days from 15 January 1985 to 4 February 1985.

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