RBI Governor List of India – Banking Awareness

RBI Governor List of India

Reserve Bank of India was established in the year 1935 by the British Government. So far 24 people have worked as RBI Governor of India. Prime Minister Office appoints RBI Governor of India for a period of three years on the recommendation of the Finance Minister. Based on the work efficiency the tenure may be extended. The Present Governor of RBI is Shaktikanta Das, he took charge on 12th December 2018 and acting till date. He was served as a Union Revenue Secretary in 2014 and as an Economic Affairs Secretary in 2015 – 2017. He is a member of the 15th Planning Commission. C.D. Deshmukh was the first Governor of RBI (Reserve Bank of India), who took charge on 11th August 1943. RBI Governor List was provided below for the benefit of the candidates.

As per the exam point of view, the RBI governor list is one of the important topics for all the competitive examinations. Candidates who are preparing for competitive exams should be aware of the RBI governor list of India. For banking candidates should know about the roles and responsibilities of RBI governor. Here we provide you with the details regarding RBI governor list in India for your convenience. Kindly utilize this article to improve your knowledge and skill.

RBI Governor of India – Roles / Duties / Responsibilities

The RBI Governor is the custodian of the country’s reserves and defenders of the external value of the currency. RBI Governor secures the monetary stability of the country and hence the day to day life of the Indian Citizens. Please find the role of RBI governor of India given below:

RBI Governor is bankers’ banker, as he is the banker to the Government and heads the Central bank of the country.
He bears the responsibility to maintain the financial stability of our economy.
The formulation of economic policies cannot be made without his involvement.
The economic issues and the financial system of the country are affected by the decisions he takes.
The parameters, on which the whole economic and financial system is functioning, is decided by him.
The currency notes we use, bear his signature and the monetary policy is controlled by him.
He issues licenses to open new private and foreign banks and manages their working.
Manages the interest rates on deposits and advances of the country.
Manages the Foreign Exchange Management Act, 1999 that is related to maintain the foreign exchange market.
Monitors the issue and exchange of the currency and coins.
Also manages the credit to rural, agricultural and small-scale industries’ sectors, also frame policies to support agriculture sector.
Make decisions to support national objectives.
New rules and regulations are continuously reviewed by him so that they could become more easy and helpful for the customers.
He also governs the Urban Co-operative banks.
The Poverty Alleviation Schemes set by the Government is also managed by him.

Powers of the RBI Governor

The RBI Governor carries many powers. We can understand them with the help of the following points:

Banker’s banker
Heads all the commercial banks
Influence on micro and macroeconomics
Control over the stock market
Signatures on currency notes
Control over monetary, currency and credit system

Subsidiaries of RBI:

Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL).
Deposit Insurance and Credit Guarantee Corporation (DICGC).
National Agriculture and Rural Development Bank (NABARD).
National Housing Bank.