RBI Governor List of India: Past and Present Governors of Reserve Bank of India

The Reserve Bank of India (RBI), as the central bank of India, has had several distinguished individuals serve as its Governors over the years. The RBI Governors' list includes prominent economists, policymakers, and financial experts who have played a crucial role in shaping India's monetary policy and financial system.

Some notable names in the RBI Governors list include Raghuram Rajan, who served from 2013 to 2016, and is known for his efforts in stabilizing the Indian economy during a period of global economic turbulence. Urjit Patel, who served as Governor from 2016 to 2018, focused on strengthening the monetary policy framework and addressing issues related to banking sector reforms. 

Shaktikanta Das, RBI Governor from December 2018 to 2024, played a key role in fostering economic growth and ensuring financial stability during challenging times. Sanjay Malhotra is the 26th and current Governor of the Reserve Bank of India (RBI).

These RBI Governors have played a crucial role in formulating and implementing monetary policies, regulating the banking sector, and ensuring the stability of the Indian financial system. Their expertise and leadership have been instrumental in shaping India's economic and financial landscape, making the RBI Governors' list an illustrious one in the country's history.

Here is the complete list of governors of the Reserve Bank of India (RBI) from 1935 to 2024.

The Reserve Bank of India (RBI), had Sir Osborne Smith as its first Governor. He assumed office on April 1, 1935, when the RBI was established as per the Reserve Bank of India Act, 1934. Sir Osborne Smith, a British banker, and economist, played a pivotal role in laying the foundation of the RBI and shaping its early policies. During his tenure, he focused on establishing the RBI's monetary policy framework, regulating the banking system, and promoting the stability of the Indian financial system. Sir Osborne Smith's pioneering leadership set the stage for the RBI's crucial role in India's economic development.

First Indian Governor of RBI

The first Indian to serve as the Governor of the Reserve Bank of India (RBI) was C.D. Deshmukh. He assumed office on August 11, 1943, becoming the first Indian to hold this prestigious position. C.D. Deshmukh was a distinguished economist and administrator, known for his contributions to India's economic and financial policies. During his tenure, he focused on promoting economic stability, regulating the banking sector, and formulating monetary policies to support India's economic development. C.D. Deshmukh's appointment as the first Indian Governor of the RBI marked a significant milestone in the history of the central bank, reflecting India's progress towards indigenous leadership in the financial sector.

Present Governor of RBI

As of December 2024, Sanjay Malhotra is the present Governor of the Reserve Bank of India (RBI). He assumed office on December 11, 2024, succeeding Shaktikanta Das. Sanjay Malhotra, an IAS officer from the 1990 batch (Rajasthan Cadre), holds a Computer Science degree from IIT Kanpur and a Master’s in Public Policy from Princeton University, USA. 

He previously held the post of Secretary in the Department of Financial Services under the Ministry of Finance and has in-depth experience in taxation and finance at the State and Central Government levels. In his first press conference after officially assuming office, he stated that he would prioritise public welfare and make decisions in tune with public interest. He will be conducting his first monetary policy review from February 5 to 7, 2025.

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