>Johnpacklambert at 15:20, 12 January 2022

2022-01-12T15:20:45Z

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{{short description|Indian diplomat and economic administrator}}
{{Use Indian English|date=July 2015}}
{{Use dmy dates|date=July 2015}}

{{Infobox officeholder
| name = Lakshmi Kant Jha
| image =
| image_size =
| office = [[List of governors of the Reserve Bank of India|Governor Reserve Bank of India]]
| caption =
| birth_name =
| birth_date = 22 November 1913
| birth_place = [[Darbhanga district]], Bihar, India
| death_date = 16 January 1988
| death_place =
| resting_place =
| resting_place_coordinates =
| residence =
| nationality = [[India]]n
| known_for = Governor, RBI; L K Jha Memorial Lecture
| predecessor = [[P. C. Bhattacharya]]
| successor = [[B. N. Adarkar]]
| education = [[Benaras Hindu University]], [[Trinity College, Cambridge|Trinity College]], [[Cambridge]]
| occupation = Civil Servant
| title =
| party =
| spouse =
| partner =
| children =
| signature =
| website =
| term_start = 1 July 1967
| term_end = 3 May 1970
| footnotes =
}}
'''Lakshmi Kant Jha''', [[Member of the Most Excellent Order of the British Empire|MBE]] (22 November 1913 – 16 January 1988), born in [[Darbhanga district]], [[Bihar]]<ref name="rbi-lkjha"/> was the [[List of governors of the Reserve Bank of India|eighth Governor]] of the [[Reserve Bank of India]] from 1 July 1967 to 3 May 1970.<ref name="RBI">{{cite web
|url=http://www.rbi.org.in/scripts/governors.aspx#jha|title=L. K. Jha |accessdate=2008-09-15|publisher=Reserve Bank of India |url-status=dead|archiveurl=https://web.archive.org/web/20080916083919/http://www.rbi.org.in/scripts/governors.aspx |archivedate=16 September 2008
}}</ref>

==Education and career==
Jha was a member of the 1936 batch of the [[Indian Civil Service]]. He was educated at [[Benares Hindu University]] (BHU), [[Trinity College, Cambridge|Trinity College, Cambridge University]], and [[London School of Economics]]. He studied economics at Cambridge when [[John Maynard Keynes|Keynes]] was teaching there. Jha was taught by another eminent teacher [[Harold Laski]] at the LSE. Jha rose to be a Deputy Secretary in the Department of Supply, during British rule and was appointed an MBE for his service in the [[1946 New Year Honours]].<ref>[http://www.london-gazette.co.uk/issues/37407/pages/60 London Gazette, 1 January 1946]</ref> After Independence he had served as secretary in the Ministries of Industries, Commerce and Finance and Secretary to the Prime Minister of India, [[Lal Bahadur Shastri]] (1964–66) and [[Indira Gandhi]] (1966–67) prior to his appointment as Governor of RBI.<ref>{{cite web |url=http://www.rbi.org.in/scripts/governors.aspx |title=List of Governors
|accessdate=2006-12-08 |publisher=Reserve Bank of India |url-status=dead |archiveurl=https://web.archive.org/web/20080916083919/http://www.rbi.org.in/scripts/governors.aspx |archivedate=16 September 2008 }}</ref>

==Major works and achievements==

During his tenure the [[Indian Rupee]] notes of denominations of [[File:Indian Rupee symbol.svg|7px]] 2, 5, 10, and 100, commemorating the birth centenary of [[Mahatma Gandhi]] were released on 2 October 1969, these notes bear his signature, both in English and Hindi. The signature in Hindi, the official language of the Government of India, appeared on the currency notes for the first time during his stewardship of the RBI. A subsequent re-issue on this series notes bears the signature of [[B. N. Adarkar]].<ref>{{cite book
|last = Jain
|first = Manik
|authorlink = Manik Jain
|title = 2004 Phila India Paper Money Guide Book
|publisher = Philatelia
|year = 2004
|location = Kolkata
|doi =
|isbn =
|pages = 19, 26, 35, and 61}}</ref> His tenure also saw nationalization of 14 major commercial banks, introduction of social controls over commercial banks, establishment of National Credit Council, and the introduction of Lead Bank Scheme to facilitate credit delivery.<ref>{{cite book | author = Bhujabal Bijay | title = The Finance Quiz Book | year = 2009 | publisher = Vision Books | page = 169}}</ref> Amongst other developments, gold controls were brought on a statutory basis; Deposit Insurance was in principle extended to Cooperative banks; and the setting up of the Agricultural Credit Board was undertaken.<ref>{{cite web
|url=http://www.rbi.org.in/scripts/governors.aspx
|title=List of Governors
|accessdate=2010-06-14
|publisher=Reserve Bank of India
|url-status=dead
|archiveurl=https://web.archive.org/web/20080916083919/http://www.rbi.org.in/scripts/governors.aspx
|archivedate=16 September 2008
}}</ref>

He served as India's ambassador to the [[United States of America|United States]] during the crucial period 1970–73 when India fought a war with Pakistan and liberated Bangladesh. Kissinger has acknowledged his persuasive diplomatic skills in the book ''White House Years''. Jha authored a few books including ''Mr. Red Tape'' and ''Economic Strategy for the 80s: Priorities for the Seventh Plan''.<ref>{{cite web
|url = https://jkrajbhawan.nic.in/His%20Excellency/present6.htm|title = Lakshmi Kant Jha|accessdate = 2010-06-14|archive-url=https://web.archive.org/web/20170621031058/http://jkrajbhawan.nic.in/His%20Excellency/present6.htm|archive-date=2017-06-21|df=dmy-all}}</ref> He was governor of [[Jammu and Kashmir (state)|Jammu and Kashmir]] state from 3 July 1973 to 22 February 1981.His role as an impartial Head of State is still remembered with affection and respect in J&K. He was a member of the Brandt Commission during the 1980s on the North -South economic issues . He was chairman of the Economic Administration Reforms Commission of the Govt. of India from 1981–88. He also served as the adviser on economic matters to the P.M. Indira Gandhi and later to the P.M. Rajiv Gandhi. At the time of his death, Jha was a member of the [[Rajya Sabha]]. In 1990, the RBI instituted the L.K. Jha Memorial Lectures in commemoration of his memory.<ref name="rbi-lkjha">{{cite web|url =http://www.rbi.org.in/Scripts/LkJhaLecturers.aspx|title =L. K. Jha Memorial Lectures|accessdate =2009-05-08|publisher = Reserve Bank of India|archive-url=https://web.archive.org/web/20090419095858/http://www.rbi.org.in/Scripts/LkJhaLecturers.aspx|archive-date=2009-04-19|df=dmy-all}}</ref>

==References==
{{reflist}}

==External links==
*[https://web.archive.org/web/20070927193217/http://jkrajbhawan.nic.in/His%20Excellency/present6.htm]

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{{s-off}}
{{succession box|title=[[Indian Ambassador to the United States]]|before=[[Ali Yavar Jung]]|after=[[T. N. Kaul]]|years=1970–1973}}
{{succession box|title=[[Governor of Jammu and Kashmir]]|before=[[Bhagwan Sahay]]|after=[[Braj Kumar Nehru]]|years=1973–1981}}

{{s-end}}
{{Governors of Reserve Bank of India}}

{{Authority control}}

{{DEFAULTSORT:Jha, Lakshmi Kant}}
[[Category:Governors of the Reserve Bank of India]]
[[Category:Indian bankers]]
[[Category:Indian civil servants]]
[[Category:Indian diplomats]]
[[Category:Ambassadors of India to the United States]]
[[Category:Governors of Jammu and Kashmir]]
[[Category:Members of the Order of the British Empire]]
[[Category:Indian Civil Service (British India) officers]]
[[Category:1913 births]]
[[Category:1988 deaths]]
[[Category:People from Bhagalpur]]
[[Category:Rajya Sabha members from Bihar]]
[[Category:State funerals in India]]

Lakshmi Kant Jha - Revision history

>Johnpacklambert at 15:20, 12 January 2022