List of RBI Governors

The Reserve Bank of India (RBI) was established in 1935 and nationalised on January 1, 1949. The general administration and direction of RBI is managed by a Central Board of Directors consisting of 20 members which includes 1 Governor, 4 Deputy Governors, 1 Government official appointed by the Union Government of India.

This will be a handy reference for all competitive Exams. Here is the list of the Reserve Bank of India (RBI) governors along with their joining and leaving dates with details

S.No.NameTenure FromTenure Up toWork Tenure Detail
1Sir Osborne A. Smith1st April 193530th June 1937Sir Osborne Smith was the first Governor of the Reserve Bank. A professional banker, his outlook on policy issues like the exchange rates and interest rates was at variance with that of the Government Sir Osborne, however, did not sign any bank notes during his tenure.
2Sir James Braid Taylor1st July 193717th February 1943His stewardship saw the Bank through the war years and the financial experiments it engendered and catalysed, including the decisive break away from a silver currency to fiat money.
3Sir Chinataman D. Deshmukh11th August 194330th June 1949Saw the transition to Independence and the partition of the country and the division of the assets and liabilities of the Reserve Bank between India and Pakistan.
4Sir Benegal Rama Rau1st July 194914th January 1957His tenure witnessed the commencement of the Planning Era as well innovative initiatives in the spheres of co-operative credit and industrial finance. The recommendations of the All India Rural Credit Survey Committee appointed during his tenure led to the transformation of the Imperial Bank of India to State Bank of India.
5K.G. Ambegaonkar14th January 195728th February 1957He forged closer connections between agricultural enterprise and the Reserve Bank’s operations. K G Ambegaonkar did not sign any bank notes.
6H.V.R. Iyenger1st March 195728th February 1962His tenure witnessed India’s shift to decimal coinage from the earlier system.
7P.C. Bhattacharya1st March 196230th June 1967His 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). The devaluation of the Rupee in 1966,
8L.K. Jha1st July 19673rd May 1970mongst other developments, gold controls were brought on a statutory basis;
9B.N. Adarkar4th May 197015th June 1970he played an active role in the establishment of the National Institute of Bank Management.
10S. Jagannathan16th June 197019th August 1975the setting up of State Level Bankers’ Committees and the shift to floating rates regime.
11N. C. Sen Gupta19th May 197519th August 1975N C Sen Gupta was appointed Governor for three months till K R Puri could assume office.
12K.R. Puri20th August 19752nd May 1977During his tenure, Regional Rural Banks were set up;
13M. Narasimham2nd May 197730th November 1977He had a short tenure of seven months.
14Dr. I.G. Patel1st December 197715th September 1982His tenure witnessed the demonetisation of high denomination notes as well as the “gold auctions” conducted by the Bank on behalf of Government of India. During his tenure six private sector banks were nationalised, targets for priority sector lending introduced, and the Deposit Insurance and Credit Guarantee Corporations were merged, and a Departmental reorganisation was undertaken in the Bank
15Dr. Manmohan Singh16th September 198214th January 1985During his tenure comprehensive legal reforms were carried out related to the banking sector and a new chapter introduced in the Reserve Bank of India Act and the Urban Banks Department was set up.
16A. Ghosh15th January 19854th February 1985
17R.N. Malhotra4th February 198522nd December 1990During his tenure efforts were made to develop the money markets and new instruments were introduced. The Discount and Finance House of India, the National Housing Bank were set up and the Indira Gandhi Institute of Development Research inaugurated.
18S.Venkitaramanan22nd December 199021st December 1992The country faced difficulties related to the external sector during his tenure. His adroit management saw the country tide over the balance of payments crisis. Rupee underwent a devaluation and the launch of the programme of economic reforms
19Dr. C. Rangarajan22nd Decmeber 199222nd November 1997His 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
20Dr. Bimal Jalan22nd November 19975th September 2003During his tenure, India weathered the Asian Crisis and has seen the consolidation of the gains of liberalisation and economic reforms
21Dr. Y.V. Reddy6th September 20035th September 2008has 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.
22Dr. D. Subbaroa5th September 20084th September 2013
23Dr. Raghuram G. Rajan4th September 20134th September 2016he was awarded the Financial Times-Goldman Sachs prize for best business book in 2010.The other awards he has received include the global Indian of the year award from NASSCOM in 2011, the Infosys prize for the Economic Sciences in 2012, and the Center for Financial Studies-Deutsche Bank Prize for financial economics in 2013.
24Dr. Urjit R. Patel4th September 2016Till DateDr. Patel has several publications in the areas of Indian macroeconomics, monetary policy, public finance, the Indian financial sector, international trade, and regulatory economics.