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{{Short description|none}}
{{Use Indian English|date=July 2015}}
{{Use dmy dates|date=November 2020}}
{{Infobox official post
| post = Governor
| body = the Reserve Bank of India
| flag = Flag of India.svg
| flagsize = 110px
| flagcaption = [[Flag of India]]
| insignia = Seal of the Reserve Bank of India.svg
| insigniacaption = Seal of the Reserve Bank of India
| residence = [[Malabar Hill]], [[Mumbai]], [[Maharashtra]]
| incumbent = [[Sanjay Malhotra]]
| image = Sanjay Malhotra RBI.jpg
| incumbentsince = 11 December 2024
| termlength = 5 Years (max)
| appointer = [[Appointments Committee of the Cabinet]]
| member_of = Central Board of Directors [[Monetary Policy Committee (India)|Monetary Policy Committee]] [[Strategic Policy Group]] [[National Security Council (India)|National Security Council]]
| salary ={{INR convert|250000}} (per month) {{INR convert|3000000}} (per year)
| formation = {{start date and age|df=yes|1935|04|01}}
| inaugural = Sir [[Osborne Smith]]
| website = {{URL|https://rbi.org.in/Scripts/governors.aspx}}
| reports_to = *[[Prime Minister of India]]
*[[National Security Advisor (India)|National Security Advisor]]
*[[Finance Minister of India|Finance Minister]]
*[[Finance Secretary of India|Secretary (Finance)]]
| seat = 18th Floor, Central Office Building, [[Colaba Causeway|Shahid Bhagat Singh Road]], Mumbai, 400 001
| constituting_instrument = [[Reserve Bank of India Act, 1934]]
| type = Chief Executive Officer
| status= Head of RBI
| deputy = [[Deputy Governor of the Reserve Bank of India|Deputy Governor]]
| department = [[Ministry of Finance (India)|Ministry of Finance]] [[Reserve Bank of India]]
| native_name = भारतीय रिजर्व बैंक के गवर्नर
}}

The '''governor of the Reserve Bank of India''' is the [[chief executive|chief executive officer]] of India's [[central bank]] and the ''[[ex-officio]]'' chair of its Central Board of Directors. The Governor of RBI by convention to be considered as equivalent to the [[Cabinet Secretary of India]], as per Level 18 in the Pay Scale.<ref>{{cite web |title=The Indian Administrative Service (Pay) Rules, 2016 |url=https://dopt.gov.in/sites/default/files/IAS_PAY_Rules2016.pdf |website=Department of Personnel and Training (DoPT), Government of India |publisher=Ministry of Personnel, Public Grievances and Pensions |date=2016 |access-date=2 May 2026}}</ref> The [[Indian Rupee]] currency notes, issued by the [[Reserve Bank of India]], bear the governor's signature.<ref>{{cite web |title=FAQs |url=https://www.rbi.org.in/commonperson/english/Scripts/FAQs.aspx?Id=3158 |website=Reserve Bank of India |access-date=2 May 2026}}</ref> Since its establishment in 1935, the RBI has been headed by twenty-six{{Nbsp}}governors. The governor is a member of the [[Strategic Policy Group]] headed by [[National Security Advisor (India)|National Security Advisor]] [[Ajit Doval]]. It is a crucial wing of the [[National Security Council Secretariat]].<ref>{{cite web |last=Sahay |first=C. D. |title=Strategic Policy Group – Evolution of Integrated National Security Structure |url=https://www.vifindia.org/article/2018/october/25/strategic-policy-group-evolution-of-integrated-national-security-structure |website=Vivekananda International Foundation |date=25 October 2018 |access-date=2 May 2026}}</ref>

The inaugural officeholder was the Australian banker Sir [[Osborne Smith]], while Sir [[C. D. Deshmukh]] was the first native Indian governor. Sir [[Benegal Rama Rau]] was the longest-serving governor, Holding office for over seven years. while [[Amitav Ghosh (banker)|Amitav Ghosh]]'s 20-day term is the shortest. The bank's fifteenth{{Nbsp}}governor, [[Manmohan Singh]], later became India's thirteenth prime minister. [[Sanjay Malhotra]] is the twenty-sixth governor of the [[Reserve Bank of India]] from 11 December 2024.<ref>{{cite web |title=Govt likely to extend RBI Governor Shaktikanta Das's term for second time |url=https://www.business-standard.com/india-news/govt-likely-to-extend-rbi-governor-shaktikanta-das-s-term-for-second-time-124111800909_1.html |website=Business Standard |date=18 November 2024 |access-date=2 May 2026}}</ref><ref>{{cite web |title=Sanjay Malhotra is the new RBI Governor for three-year term |url=https://www.thehindu.com/business/Economy/sanjay-malhotra-is-the-new-rbi-governor-for-three-year-term/article68965180.ece |website=The Hindu |date=10 December 2024 |access-date=2 May 2026}}</ref>

== Appointment process ==
The RBI Governor is appointed by the Government of India under the provisions of the [[Reserve Bank of India Act, 1934]]. The appointment is made by the [[Appointments Committee of the Cabinet]] (ACC), headed by the [[Prime Minister of India|Prime Minister]] and the [[Home Minister (India)|Home Minister]]. Typically, the Governor is appointed for a term of up to five years, which may be extended or renewed for a second term.<ref>{{cite web |title=How is the RBI Governor appointed? |url=https://economictimes.indiatimes.com/news/new-updates/how-is-the-rbi-governor-appointed/articleshow/116142054.cms |website=The Economic Times |date=9 December 2024 |access-date=2 May 2026}}</ref><ref>{{cite web |title=Appointment of RBI Governor |url=https://www.pib.gov.in/Pressreleaseshare.aspx?PRID=1573622&reg=3&lang=2 |website=Press Information Bureau, Government of India |access-date=2 May 2026}}</ref><ref>{{cite web |title=Consider the following statements with respect to the Governor of the Reserve Bank of India (RBI) |url=https://forumias.com/blog/question/consider-the-following-statements-with-respect-to-the-governor-of-the-reserve-bank-of-india-rbi-1-the-governor-is-appointed-by-the-president-of-india-2-the-governor-cannot-be-reappointed-after-t/ |website=ForumIAS |access-date=2 May 2026}}</ref>

== Duties and responsibilities of the governor ==
The RBI Governor is the chief executive authority of the Reserve Bank of India and is responsible for formulating and implementing [[monetary policy of India]]. The Governor chairs the [[Monetary Policy Committee (India)|Monetary Policy Committee]], which determines key [[interest rates]] to maintain price stability while supporting [[economic growth]].<ref>{{cite web |title=Monetary Policy |url=https://rbi.org.in/commonperson/English/scripts/commpol.aspx |website=Reserve Bank of India |access-date=2 May 2026}}</ref><ref>{{cite web |title=RBI MPC meet: What's on the table for the rate-setting panel |url=https://economictimes.indiatimes.com/news/economy/policy/rbi-mpc-meet-whats-on-the-table-for-the-rate-setting-panel/articleshow/127944205.cms |website=The Economic Times |date=5 February 2026 |access-date=2 May 2026}}</ref><ref>{{cite web |title=Monetary Policy Committee decisions / related press release |url=https://www.pib.gov.in/PressReleaseIframePage.aspx?PRID=2120509&reg=3&lang=2 |website=Press Information Bureau, Government of India |access-date=2 May 2026}}</ref><ref>{{cite web |title=RBI MPC meeting this week: Date, time, where to watch live streaming of RBI Governor Sanjay Malhotra's monetary policy statement |url=https://timesofindia.indiatimes.com/business/india-business/rbi-mpc-meeting-this-week-date-time-where-to-watch-live-streaming-of-rbi-governor-sanjay-malhotras-monetary-policy-statement/articleshow/123113179.cms |website=The Times of India |access-date=2 May 2026}}</ref>

The Governor oversees regulation and supervision of the [[Banking in India|banking]] and [[Economy of India|financial system]] in India. This includes ensuring [[financial stability]]<ref>{{cite web |title=Indian Central Bank Holds Rates as Mideast War Keeps Outlook in Flux |url=https://www.wsj.com/economy/central-banking/indian-central-bank-holds-rates-as-mideast-war-keeps-outlook-in-flux-9ddabbb5 |website=The Wall Street Journal |access-date=2 May 2026}}</ref>, issuing guidelines for banks and non-banking financial companies, and taking corrective actions when required.<ref>{{cite web |title=RBI to rationalise board norms, focus on strategy, policy for banks |url=https://www.business-standard.com/finance/news/rbi-to-rationalise-board-norms-focus-strategy-policy-banks-126040801075_1.html |website=Business Standard |date=8 April 2026 |access-date=2 May 2026}}</ref><ref>{{cite web |title=India's central bank governor urges banks to ensure fair financial market access |url=https://www.reuters.com/world/india/indias-central-bank-governor-urges-banks-ensure-fair-financial-market-access-2026-05-01/ |website=Reuters |date=1 May 2026 |access-date=2 May 2026}}</ref><ref>{{cite web |title=RBI cancels Paytm Payments Bank licence |url=https://etedge-insights.com/industry/bfsi/rbi-cancels-paytm-payments-bank-licence-2026/ |website=ET Edge Insights |access-date=2 May 2026}}</ref><ref>{{cite web |title=Banking Overview |url=https://www.financialservices.gov.in/beta/en/banking-overview |website=Department of Financial Services, Ministry of Finance, Government of India |access-date=2 May 2026}}</ref>

The RBI Governor also manages India’s [[foreign exchange reserves]] and formulates policies under the [[Foreign Exchange Management Act, 1999]]. This involves maintaining exchange rate stability and ensuring orderly development of the foreign exchange market.<ref>{{cite web |title=Weekly Statistical Supplement (WSS) View Detail |url=https://www.rbi.org.in/scripts/WSSViewDetail.aspx?PARAM1=2&TYPE=Section |website=Reserve Bank of India |access-date=2 May 2026}}</ref><ref>{{cite web |title=Indian economy faces risks on multiple fronts from Middle East conflict |url=https://www.wsj.com/economy/central-banking/indian-economy-faces-risks-on-multiple-fronts-from-middle-east-conflict-4f17a37a |website=The Wall Street Journal |access-date=2 May 2026}}</ref><ref>{{cite web |title=India's forex reserves fall $4.82 billion to $698 billion, shows RBI data |url=https://www.business-standard.com/economy/news/india-s-forex-reserves-fall-4-82-billion-to-698-billion-shows-rbi-data-126050100868_1.html |website=Business Standard |date=1 May 2026 |access-date=2 May 2026}}</ref>

Additionally, the Governor acts as the principal advisor to the [[National Security Advisor of India|National Security Advisor]] and the [[Government of India]] on [[national security]], economic and financial matters. The office also handles currency issuance, payment and settlement systems, and promotes safe and efficient financial infrastructure in the country.<ref>{{cite web |title=RBI Governor Sanjay Malhotra unveils National Strategy for Financial Inclusion 2025–30 |url=https://www.newsonair.gov.in/rbi-governor-sanjay-malhotra-unveils-national-strategy-for-financial-inclusion-2025-30/ |website=NewsOnAir (All India Radio) |access-date=2 May 2026}}</ref><ref>{{cite web |title=UPSC Key: RBI to compensate digital fraud victims, rat-hole mining, Russian oil imports |url=https://indianexpress.com/article/upsc-current-affairs/upsc-key-rbi-digital-fraud-rat-hole-mining-russian-oil-10519526/ |website=The Indian Express |access-date=2 May 2026}}</ref><ref>{{cite web |title=Ajit Doval to head key panel set up to assist National Security Council |url=https://indianexpress.com/article/india/ajit-doval-to-head-key-panel-set-up-to-assist-national-security-council-5394594/ |website=The Indian Express |access-date=2 May 2026}}</ref><ref>{{cite web |title=RBI advises states to be more prudent in managing finances |url=https://economictimes.indiatimes.com/news/economy/policy/rbi-advises-states-to-be-more-prudent-in-managing-finances/articleshow/116477190.cms |website=The Economic Times |date=19 December 2024 |access-date=2 May 2026}}</ref>

== Emolument, accommodation and perquisites ==
The rank of the RBI Governor is equivalent to the [[Cabinet Secretary of India|Cabinet Secretary]] as per pay-level.<ref>{{cite web |title=Raghuram Rajan says his salary as RBI Governor was Rs 4 lakh; 'I don't get a pension' |url=http://moneycontrol.com/news/trends/raghuram-rajan-says-his-salary-as-rbi-governor-was-rs-4-lakh-i-dont-get-a-pension-11957041.html |website=Moneycontrol |access-date=2 May 2026}}</ref> The post is accompanied by:

* Official residence at [[Malabar Hill]], [[Mumbai]], [[Maharashtra]], a Type-VIII [[bungalow]].
* Security cover as per central government rules.
* Eligibility for a diplomatic or official passport for foreign travel.
* Salary as per Pay Level 18 of the [[7th Central Pay Commission (CPC) and Defence Forces|7th Pay Commission]]. Although the Dearness allowance (DA), Travel Allowance (TA) and other allowances are determined by the RBI.<ref name="Army Pay Rules">{{Cite web|url=http://www.mod.nic.in/sites/default/files/ArmyPayRules.pdf|title=Army Pay Rules, 2017|date=May 3, 2017|work=[[Ministry of Defence (India)|Ministry of Defence]], [[Government of India]]|access-date=September 24, 2017}}</ref>

{| class="wikitable mw-collapsible" style="margin: 1ex 0 1ex 1ex; "
|+'''RBI Governor monthly pay and allowances'''
!Base Salary as per [[7th Central Pay Commission (CPC) and Defence Forces|7th Pay Commission]] (Per month)
!Pay Matrix Level
!Sources
|-
|{{INRConvert|250000}}
|Pay Level 18
|<ref name="7 Pay Commission Report">{{cite web|url=http://7cpc.india.gov.in/pdf/sevencpcreport.pdf|title=Report of the 7th Central Pay Commission of India|publisher=Seventh Central [[Pay Commission]], [[Government of India]]|url-status=dead|access-date=August 13, 2017|archive-url=https://web.archive.org/web/20151120092637/http://7cpc.india.gov.in/pdf/sevencpcreport.pdf|archive-date=20 November 2015}}</ref>
|}

== List of governors ==
[[File:CD Deshmukh crop.jpg|thumb|Sir [[C. D. Deshmukh]] was the first Indian to serve as the governor.|upright=0.75]]
[[File:Sir Benegal Rama Rau, governor of Reserve Bank of India.jpg|thumb|Sir [[Benegal Rama Rau]] was the longest serving governor.|upright=0.75]]
[[File:I. G. Patel.jpg|thumb|[[I. G. Patel]], the fourteenth governor|upright=0.75]]
[[File:Prime Minister Manmohan Singh in WEF ,2009.jpg|thumb|[[Manmohan Singh]], the fifteenth governor, later served as the thirteenth [[prime minister of India]]|upright=0.75]]
[[File:Raghuram Rajan, IMF 69MS040421048l.jpg|thumb|[[Raghuram Rajan]], the twenty-third governor|upright=0.75]]
[[File:Shaktikanta Das, IAS (cropped).jpg|thumb|[[Shaktikanta Das]], the twenty-fifth governor|upright=0.75]]
[[File:Sanjay Malhotra RBI.jpg|thumb|[[Sanjay Malhotra]], the twenty-sixth and the incumbent governor|upright=0.75]]

{| class="wikitable plainrowheaders" border="1" style="text-align:center" ;
! data-sort-type="number" scope="col" | #
!Portrait
! scope="col" width="135px" | Name
! data-sort-type="date" scope="col" class="unsortable" width="135px" | Term
! scope="col" width=90px| Length of tenure
! scope="col" class="unsortable" | Notes<ref>{{Cite web |title=Governors |url=https://rbi.org.in/scripts/governors.aspx |access-date=June 19, 2022 |publisher=[[Reserve Bank of India]]}}</ref>
! scope="col" class="unsortable" | Ref
|-
|1
|[[File:SirOsborneSmith.jpg|99x99px]]
| scope="row" style="text-align:center" ; | [[Osborne Smith]]
|1 April 1935 — 30 June 1937
|{{ayd|1935|4|1|1937|6|30}}
|Smith was an Australian banker who served as the managing governor of the [[Imperial Bank of India]] before becoming the governor. He resigned the governorship before the completion of the term.
|<ref>{{Cite book |last=Dadabhoy |first=Bakhtiar K. |title=Barons of Banking: Glimpses of Indian Banking History |date=2013 |publisher=Random House India |isbn=978-81-8400-476-2 |location=Noida |page=20}}</ref>
|-
|2
|[[File:Sir James Braid Taylor.jpg|82x82px]]
| scope="row" style="text-align:center" ; | [[James Braid Taylor]]
|1 July 1937 — 17 February 1943
|{{ayd|1937|7|1|1943|2|17}}
|Taylor was an [[Indian Civil Service|ICS]] officer who served as the controller of the currency and the [[List of deputy governors of the Reserve Bank of India|deputy governor]] of the RBI. He died while in office.
|<ref>{{Cite book |last=Saha |first=Siddhartha Sankar |title=Indian Financial Systems and Markets |date=2013 |publisher=McGraw-Hill |isbn=978-1-259-00500-8 |location=New Delhi |page=67}}</ref>
|-
|3
|[[File:CD Deshmukh (cropped).jpg|90x90px]]
| scope="row" style="text-align:center" ; | [[C. D. Deshmukh]]
|11 August 1943 — 30 June 1949
|{{ayd|1943|8|11|1949|6|30}}
|Deshmukh was an ICS officer who served as the [[List of deputy governors of the Reserve Bank of India|deputy governor]] of the RBI. He was the first Indian to serve as the governor. His governorship oversaw the [[partition of India]] as the subsequent division of assets and liabilities between India and Pakistan.
|
|-
|4
|[[File:Sir Benegal Rama Rau, governor of Reserve Bank of India.jpg|102x102px]]
| scope="row" style="text-align:center" ; | [[Benegal Rama Rau]]
|1 July 1949 — 14 January 1957
|{{ayd|1949|7|1|1957|1|14}}
|Rau was an ICS officer who served as the [[List of ambassadors of India to the United States|ambassador to the United States]]. He resigned the governorship before the completion of his second extended term.
|
|-
|5
|
| scope="row" style="text-align:center" ; | [[K. G. Ambegaonkar]]
|14 January 1957 — 28 February 1957
|{{ayd|1957|01|14|1957|02|28|df=y}}
|Ambegaokar was an [[Indian Civil Service|ICS]] officer who served as the [[Finance Secretary (India)|Finance Secretary]] before becoming the [[List of deputy governors of the Reserve Bank of India|deputy governor]] of RBI. He was appointed as the interim governor upon the resignation of [[Benegal Rama Rau]].
|
|-
|6
|[[File:HVR Iengar.jpg|99x99px]]
| scope="row" style="text-align:center" ; | [[H. V. R. Iengar]]
|1 March 1957 — 28 February 1962
|{{ayd|1957|3|1|1962|2|28}}
|Iyengar was an [[Indian Civil Service|ICS]] officer who served as the [[List of chairmen of the State Bank of India|chairman of the State Bank of India]]. [[Coinage of India|Indian coinage]] was shifted to [[Decimalisation|decimal coinage]] during his governorship.
|
|-
|7
|
| scope="row" style="text-align:center" ; | [[P. C. Bhattacharya]]
|1 March 1962 — 30 June 1967
|{{ayd|1962|3|1|1967|6|30}}
|Bhattacharya was an [[Indian Audit and Accounts Service]] officer who served as the [[List of chairmen of the State Bank of India|chairman of the State Bank of India]] before becoming the governor.
|
|-
|8
|[[File:Lakshmi Kant Jha (India's ambassador to the United States 1970 - 1973).png|103x103px]]
| scope="row" style="text-align:center" ; | [[Lakshmi Kant Jha]]
|1 July 1967 — 3 May 1970
|{{ayd|1967|7|1|1970|5|3}}
|Jha was an [[Indian Civil Service|ICS]] officer who served as the [[Principal Secretary to the Prime Minister of India|secretary to the prime minister]] before becoming the governor. He left the office upon his appointment as the [[List of ambassadors of India to the United States|ambassador to the United States]].
|
|-
|9
|
| scope="row" style="text-align:center" ; | [[B. N. Adarkar]]
|4 May 1970 — 15 June 1970
|{{ayd|1970|5|4|1970|6|15}}
|Adarkar was an economist who served as the economic advisor to the government before becoming the [[List of deputy governors of the Reserve Bank of India|deputy governor]] of RBI. He was appointed as the interim governor.
|
|-
|10
|
| scope="row" style="text-align:center" ; | [[Sarukkai Jagannathan|S. Jagannathan]]
|16 June 1970 — 19 May 1975
|{{ayd|1970|6|16|1975|5|19}}
|Jagannathan was an [[Indian Civil Service|ICS]] officer who served as India's Executive Director of the [[World Bank]] before becoming the governor. He resigned the office to become the India's Executive Director of the [[International Monetary Fund]].
|
|-
|11
|
| scope="row" style="text-align:center" ; | [[N. C. Sen Gupta]]
|19 May 1975 — 19 August 1975
|{{ayd|1975|5|19|1975|8|19}}
|Gupta served as the Secretary to the Department of Banking before becoming the interim governor.
|
|-
|12
|
| scope="row" style="text-align:center" ; | [[K. R. Puri]]
|20 August 1975 — 2 May 1977
|{{ayd|1975|8|20|1977|5|2}}
|Puri served as the chairman of the [[Life Insurance Corporation]] before becoming the governor. His governorship oversaw the formation of various [[Regional rural bank|regional rural banks]].
|
|-
|13
|
| scope="row" style="text-align:center" ; | [[M. Narasimham]]
|3 May 1977 — 30 November 1977
|{{ayd|1977|5|3|1977|11|30}}
|Narasimham was a RBI research officer who served as an Additional Secretary to the Department of Economic Affairs before becoming the governor.
|
|-
|14
|[[File:I. G. Patel.jpg|85x85px]]
| scope="row" style="text-align:center" ; | [[I. G. Patel]]
|1 December 1977 — 15 September 1982
|{{ayd|1977|12|1|1982|9|15}}
|Patel was an economist who served as a Secretary in the Ministry of Finance before becoming the governor. His governorship oversaw the [[Demonetization (currency)|demonetization]] of [[Indian rupee sign|₹]]5,000 and ₹10,000 value currency.<ref>{{Cite news |date=November 9, 2016 |title=In 1946 and 1978, India had demonetised Rs 5,000, 10,000 notes |work=[[Deccan Chronicle]] |url=https://www.deccanchronicle.com/nation/current-affairs/091116/scrapping-large-currency-not-new-in-1946-india-demonetised-rs-5000-10000-notes.html |access-date=June 19, 2022}}</ref>
|
|-
|15
|[[File:Manmohan Singh in 2009.jpg|101x101px]]
| scope="row" style="text-align:center" ; | [[Manmohan Singh]]
|16 September 1982 — 14 January 1985
|{{ayd|1982|9|16|1985|1|14}}
|Singh is an economist who served as the [[Finance Secretary (India)|Finance Secretary]] before becoming the governor. His governorship oversaw various legal reforms related to the banking sector.
|
|-
|16
|
| scope="row" style="text-align:center" ; | [[Amitav Ghosh (banker)|Amitav Ghosh]]
|15 January 1985 — 4 February 1985
|{{ayd|1985|1|15|1985|2|4}}
|Ghosh was the deputy governor of RBI who was appointed as the interim governor until [[R. N. Malhotra]] assumed the office.
|
|-
|17
|
| scope="row" style="text-align:center" ; | [[R. N. Malhotra]]
|4 February 1985 — 22 December 1990
|{{ayd|1985|2|4|1990|12|22}}
|Malhotra was an [[Indian Administrative Service|Indian Administrative Services]] officer who served as Executive Director of the [[International Monetary Fund|IMF]] before becoming the governor. His governorship oversaw the inauguration of [[Indira Gandhi Institute of Development Research]].
|
|-
|18
|
| scope="row" style="text-align:center" ; | [[S. Venkitaramanan]]
|22 December 1990 — 21 December 1992
|{{ayd|1990|12|22|1992|12|21}}
|Venkitaramanan was an IAS officer who served as the [[Finance Secretary (India)|Finance Secretary]] before becoming the governor. India adopted IMF's stabilization program during his governorship.
|
|-
|19
|[[File:C. Rangrajan at the Conference on "Fiscal Policy in India" (cropped).jpg|93x93px]]
| scope="row" style="text-align:center" ; | [[C. Rangarajan]]
|22 December 1992 — 21 November 1997
|{{ayd|1992|12|22|1997|11|21}}
|Rangarajan is an economist who served as the [[List of deputy governors of the Reserve Bank of India|deputy governor]] of RBI before becoming the governor. His governorship oversaw the establishment of unified exchange rate.
|
|-
|20
|[[File:Bimal Jalan (cropped).jpg|86x86px]]
| scope="row" style="text-align:center" ; | [[Bimal Jalan]]
|22 November 1997 — 6 September 2003
|{{ayd|1997|11|22|2003|9|6}}
|Jalan is an economist who served at various positions including being the chief economic adviser to the government and serving as the [[Finance Secretary (India)|Finance Secretary]] before becoming the governor. His governorship oversaw less [[inflation]] and interest rates.
|
|-
|21
|[[File:The Governor of Reserve Bank of India, Shri Y.V. Reddy (cropped).jpg|94x94px]]
| scope="row" style="text-align:center" ; | [[Y. V. Reddy]]
|6 September 2003 — 5 September 2008
|{{ayd|2003|9|6|2008|9|5}}
|Reddy is an [[Indian Administrative Service|IAS]] officer who served as the [[List of deputy governors of the Reserve Bank of India|deputy governor]] of RBI before becoming the governor. During his governorship, he contributed in the financial sector reforms and [[External commercial borrowing|external commercial borrowings]].
|
|-
|22
|[[File:Duvuri.jpg|83x83px]]
| scope="row" style="text-align:center" ; | [[Duvvuri Subbarao|D. Subbarao]]
|5 September 2008 — 4 September 2013
|{{ayd|2008|9|5|2013|9|4}}
|Subbarao is an [[Indian Administrative Service|IAS]] officer who served as the [[Finance Secretary (India)|Finance Secretary]] before becoming the governor. He wrote on various issues including [[decentralization]] and [[public finance]].
|
|-
|23
|[[File:Raghuram Rajan, IMF 69MS040421048l.jpg|113x113px]]
| scope="row" style="text-align:center" ; | [[Raghuram Rajan]]
|4 September 2013 — 4 September 2016
|{{ayd|2013|9|4|2016|9|4}}
|Rajan is an economist who served as the chief economic advisor to the government and the [[List of IMF Economic Counsellors|chief economist of IMF]] before becoming the governor.
|
|-
|24
|[[File:Urjit Patel.jpg|100x100px]]
| scope="row" style="text-align:center" ; | [[Urjit Patel]]
|4 September 2016 — 10 December 2018
|{{ayd|2016|9|4|2018|12|11}}
|Patel is an economist who worked with the IMF and the central government. He served as the [[List of deputy governors of the Reserve Bank of India|deputy governor]] of RBI before becoming the governor. His governorship oversaw the [[2016 Indian banknote demonetisation|demonetization of ₹500 and ₹1000 banknotes]]. He later resigned citing personal reasons.
|<ref>{{Cite web |date=2018-12-11 |title=Urjit Patel Resigns - Here are the reasons |url=https://economictimes.indiatimes.com/news/economy/policy/heres-what-could-have-led-to-rbi-governor-urjit-patels-exit/articleshow/67026855.cms?from=mdr |access-date=2019-08-12 |website=Economic Times |language=en-IN}}</ref><ref name="Dr. Urjit Patel takes over as RBI Deputy Governor">{{cite web |title=Urjit Patel appointed Deputy Governor |url=http://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=27952}}</ref><ref>{{citation |title=Rs 500, Rs 1000 currency notes stand abolished from midnight: PM Modi |date=9 November 2016 |url=http://indianexpress.com/article/india/india-news-india/narendra-modi-prime-minister-address-to-the-nation4364609 |work=[[The Indian Express]]}}</ref>
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|25
|[[File:Shaktikanta Das, IAS (cropped).jpg|92x92px]]
| scope="row" style="text-align:center" ; | [[Shaktikanta Das]]
|12 December 2018 — 11 December 2024
|{{ayd|12 December 2018|11 December 2024}}
|Das was an IAS officer who served as the [[Revenue Secretary]] and later [[Economic Affairs Secretary]]. He served as a Member of the 15th Finance Commission before becoming the governor.
|<ref>{{Cite web |last1=Prasad |first1=Gireesh Chandra |last2=Ghosh |first2=Shayan |last3=Gopakumar |first3=Gopika |date=11 December 2018 |title=Shaktikanta Das, Who Oversaw Demonetization, Is New RBI Governor |url=https://www.livemint.com/Industry/mqqkVZgURWChvJbxq45E4H/Shaktikanta-Das-appointed-new-RBI-governor.html |access-date=24 April 2022 |website=[[Livemint]]}}</ref><ref>{{Cite news |date=27 November 2017 |title=N.K. Singh heads 15th Finance Commission, Shaktikanta Das a member |website=[[Business Standard]] |location=[[New Delhi]] |url=http://www.business-standard.com/article/news-ians/n-k-singh-heads-15th-finance-commission-shaktikanta-das-a-member-117112701199_1.html |access-date=15 January 2018}}</ref><ref>{{Cite news |date=29 August 2015 |title=Shaktikanta Das appointed Economic Affairs Secretary; Hasmukh Adhia is new Revenue Secretary |website=[[The Economic Times]] |location=[[New Delhi]] |url=https://economictimes.indiatimes.com/news/politics-and-nation/shaktikanta-das-appointed-economic-affairs-secretary-hasmukh-adhia-is-new-revenue-secretary/articleshow/48715974.cms |access-date=15 January 2018}}</ref><ref>{{Cite news |date=16 June 2014 |title=Shaktikanta Das appointed as Revenue Secretary |website=[[Business Standard]] |agency=Press Trust of India |location=[[New Delhi]] |url=http://www.business-standard.com/article/economy-policy/shaktikanta-das-appointed-as-revenue-secretary-114061600671_1.html |access-date=15 January 2018}}</ref>
|-
|26
|[[File:Sanjay Malhotra RBI.jpg|100x100px]]
| scope="row" style="text-align:center" ; | [[Sanjay Malhotra]]
|11 December 2024 — ''Incumbent''
|{{ayd|11 December 2024}}
|Malhotra is an IAS officer who served as the Financial Services Secretary and later [[Revenue Secretary]] before becoming the governor.
|<ref>{{Cite web |last=Venkiteswaran |first=Rajesh Trichur |date=2024-12-26 |title=Sanjay Malhotra Takes Charge As RBI Governor |url=https://gfmag.com/economics-policy-regulation/sanjay-malhotra-reserve-bank-india-governor/ |access-date=2024-12-26 |website=Global Finance Magazine |language=en-US}}</ref>
|}

== See also ==
* [[Finance Secretary of India]]
* [[Deputy Governor of the Reserve Bank of India]]

==References==

{{Reflist}}

==External links==
* {{Commons inline|Category:Reserve Bank of India|Reserve Bank of India}}
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{{Governors of Reserve Bank of India}}
{{Authority control}}

[[Category:Governors of the Reserve Bank of India]]
[[Category:Lists of office-holders in India]]
[[Category:Lists of central bankers]]

Governor of the Reserve Bank of India - Revision history

Mohammedsajib at 20:50, 4 May 2026