List and Professions of RBI Deputy Governors (1935-present)

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. Deshmukh 22-12-41 10-08-43 1.6 Yes ICS
5 Wajahat Hussain 16-08-43 04-12-45 2.3 ICS
6 Cecil RhodesTrevor 16-08-43 31-12-49 6.4 Yes Chief Accountant RBI
7 M.G. Mekhri 08-07-46 07-07-51 5.0 Registrar of Coop Societies
8 W.T. McCallum 15-04-48 14-07-48 0.2 Yes Manager, Bombay office of the Bank
9 W.T. McCallum 15-04-46 14-08-46 0.3 Yes Manager, Bombay office of the Bank
10 Nivarti Sundaresan 01-01-50 31-12-54 5.0 Indian Accounts and Audit Service
11 Ram Nath 09-07-56 08-07-59 3.0 RBI Officer
12 Ram Nath 09-07-51 08-07-56 5.0 RBI Officer
13 Ram Nath 08-06-51 08-07-51 0.1 RBI Officer
14 J.V. Joshi 11-09-52 10-01-53 0.3 RBI Officer
15 K.G. Ambegaonkar 01-03-57 29-02-60 3.0 Yes ICS/IAS
16 K.G. Ambegaonkar 01-03-55 13-01-57 1.9 ICS/IAS
17 B. Venkatappaiah 01-07-60 28-02-62 1.7 ICS/IAS
18 B. Venkatappaiah 01-07-55 30-06-60 5.0 ICS/IAS
19 M.V. Rangachari 01-03-60 28-02-65 5.0 Government
20 D.G. Karve 01-03-62 29-02-64 2.0 Academic
21 C.S. Divekar 12-11-62 11-11-65 3.0 RBI Officer
22 M.R. Bhide 29-02-64 25-01-67 2.9 Agriculture Ministry
23 B.K. Madan 01-07-64 31-01-67 2.6 RBI Officer
24 B.N. Adarkar 16-06-65 03-05-70 4.9 Yes Government/Economist
25 A. Bakshi 24-01-67 08-09-69 2.6 Government
26 Prof. J.J. Anjaria 01-02-67 28-02-70 3.1 Government/Economist
27 P.N. Damry 13-02-72 15-03-72 0.1 IAS
28 P.N. Damry 13-02-67 12-02-72 5.0 IAS
29 R.K. Hazari 27-11-69 26-11-77 8.0 academic, an economist and a financial journalist
30 V.V. Chari 17-11-70 30-11-75 5.0 NA
31 S.S. Shiralkar 18-12-70 25-07-76 5.6 NA
32 R.K. Sheshadri 26-07-73 25-07-76 3.0 Ministry of Finance
33 K.S. Krishnaswamy 29-12-75 31-03-81 5.3 RBI Officer
34 P.R. Nangia 29-12-75 15-02-82 6.1 RBI Officer
35 J.C. Luther 04-01-77 01-06-77 0.4 Government
36 M. Ramakrishnayya 02-01-78 31-01-83 5.1 IAS
37 A. Ghosh 21-01-87 20-01-92 5.0 Yes Chairman of Allahabad Bank
38 A. Ghosh 21-01-82 20-01-87 5.0 Chairman of Allahabad Bank
39 C. Rangarajan 12-02-87 20-08-91 4.5 Yes Economist
40 C. Rangarajan 12-02-82 11-02-87 5.0 Economist
41 M.V. Hate 12-03-82 11-03-85 3.0 NA
42 R.K. Kaul 01-10-83 30-09-86 3.0 NA
43 P.D. Ojha 29-04-85 28-04-90 5.0 NA
44 P.R. Nayak 01-04-87 31-03-92 5.0 NABARD
45 R. Janakiraman 16-05-90 15-05-93 3.0 RBI Officer
46 S.S. Tarapore 30-01-92 30-09-96 4.7 RBI Officer
47 D.R. Mehta 11-11-92 21-02-95 2.3 IAS
48 S.P. Talwar 01-07-99 30-06-01 2.0 Banker
49 S.P. Talwar 07-11-94 30-06-99 4.6 Banker
50 R.V. Gupta 02-05-95 30-11-97 2.6 Bureaucrat
51 Y V Reddy 01-09-01 31-07-02 0.9 Yes IAS
52 Y V Reddy 14-09-96 31-08-01 5.0 IAS
53 Jagdish Capoor 01-07-99 30-06-01 2.0 RBI Officer
54 Jagdish Capoor 01-01-97 30-06-99 2.5 RBI Officer
55 Vepa Kamesam 24-09-03 23-12-03 0.2 Banker
56 Vepa Kamesam 01-07-01 23-09-03 2.2 Banker
57 G P Muniappan 01-07-01 31-05-03 1.9 RBI Officer
58 Rakesh Mohan 02-07-05 10-06-09 3.9 Government/Economist
59 Rakesh Mohan 09-09-02 31-10-04 2.1 Government/Economist
60 Smt. K J Udeshi 10-06-03 12-10-05 2.3 Rbi Officer
61 Shri V Leeladhar 21-09-04 08-12-08 4.2 Banker
62 Smt Shyamala Gopinath 09-09-09 20-06-11 1.8 Rbi Officer
63 Smt Shyamala Gopinath 21-09-04 08-09-09 5.0 Rbi Officer
64 Smt Usha Thorat 10-11-05 09-11-10 5.0 Rbi Officer
65 Dr.K.C.Chakrabarty 15-06-09 25-04-14 4.9 Banker
66 Dr. Subir Gokarn 24-11-09 31-12-12 3.1 Economist
67 Shri Anand Sinha 19-01-11 18-01-14 3.0 Rbi Officer
68 Shri Harun R. Khan 04-07-14 04-07-16 2.0 Rbi Officer
69 Shri Harun R. Khan 04-07-11 03-07-14 3.0 Rbi Officer
70 Dr. Urjit R. Patel 11-01-16 04-09-16 0.6 Economist
71 Dr. Urjit R. Patel 11-01-13 10-01-16 3.0 Economist
72 Shri R. Gandhi 03-04-14 02-04-17 3.0 Rbi Officer
73 Shri S. S. Mundra 31-07-14 30-07-17 3.0 Banker
74 Shri N. S. Vishwanathan 04-07-16 Rbi Officer
75 Dr. Viral V. Acharya 23-01-17 Resigned Economist
76 Shri B.P. Kanungo 03-04-17 Rbi Officer
77 Shri M. K. Jain 22-06-18 Banker

Interesting trivia emerges from the list (I cannot figure professions of 5 of these DGs, will be great to fill them as well):

  • In 1935, RBI made two positions for DGs. In 1955, position for third DG was created for rural finance and in 1964, fourth DG was created for IDBI.
  • Some of the DGs had multiple terms and if we look at unique names, RBI has had 61 Deputy Governors so far.
  • Dr Viral Acharya was the 59th DG and only one of the four Professional Economists who served as DGs. The other three are Dr C Rangarajan, Dr Subir Gokarn and Dr Urjit Patel.
  • There were other economists such as B.N Adarkar (who also became Governor briefly as LK Jha resigned), Rakesh Mohan etc but they came via the Government.
  • 13 of these DGs were ICS/IAS officers. The percentage is much lesser than in case of RBI Governorship where 12 of the 25 Governors are from IAS background.
  • 26 of the DGs come from within RBI, the highest in the list.
  • Of the 61, 8 became Governors. Of these, 3 were made interim Governors to fill for a limited time as the new Governor was to join in some time. These were KG Ambegaonkar (gave way to H. V. R. Iyengar), BN Adarkar (gave way to S Jagannathan) and A, Ghosh (gave way to RN Malhotra). The other four were James Taylor, CD Deshmukh, C Rangarajan, YV Reddy and Urjit Patel.
  • In the whole list, we just have 3 women DGs: KJ Udeshi (first one to become), Shyamala Gopinath and Usha Thorat. This number needs to go up significantly in future.
  • ┬áThe one with the longest tenure was A Ghosh who completed two terms of 5 years each (also Governor for 20 days) followed by C Rangarajan at 9.5 years (he became Governor later). Shortest tenure was of JV Joshi who merely spent 121 days as DG followed by 148 days by JC Luther.
  • Mr Ram Nath got three number of terms, the highest.
  • WT McCallum was appointed to fill for absence of CR Trevor who went on leave two times.
  • B Venkatappiah was Finance Secretary, then made RBI ED and then DG. he Later became head of SBI! He was also the first to occupy the third DG position created in 1955.

Will try and add some more overtime…

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