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Sir C. D. Deshmukh was the first Indian to serve as the governor. Sir Benegal Rama Rau was the longest serving governor. I. G. Patel, the fourteenth governor Manmohan Singh, the fifteenth governor, later served as the thirteenth prime minister of India Raghuram Rajan, the twenty-third governor Shaktikanta Das, the twenty-fifth governor Sanjay Malhotra, the twenty-sixth and the incumbent governor
In June 2021, India's foreign exchange reserves crossed the US$600 billion mark for the first time. [17] [18] India's total forex reserves touched an all-time high of US$642.453 billion on 8 September 2021. [19] The reserves declined to $598.89 billion by 8 September 2023 [20] & rose to hit a fresh all time high of $642.63 in March 2024. [21]
As of November 2024, India's foreign exchange reserves stand at approximately $682.13 billion. This figure can fluctuate based on various factors such as trade balances, capital flows, and the Reserve Bank of India's (RBI) interventions in the forex market. During pre-1991 Era, India faced significant balance of payments crises, leading to low ...
Sanjay Malhotra (born 14 February 1968) is an Indian bureaucrat who is serving as the Current and 26th Governor of the Reserve Bank of India (RBI) since December 11, 2024. [3] [4] He is an Indian Administrative Service Officer of 1990 Batch Rajasthan Cadre. [5]
The Reserve Bank of India Act, 1934 (RBI Act) was amended by the Finance Act, 2016, to provide a statutory and institutionalised framework for a Monetary Policy Committee, for maintaining price stability, while keeping in mind the objective of growth. The Monetary Policy Committee is entrusted with the task of fixing the benchmark policy rate ...
Reserve Bank of India, abbreviated as RBI, is the central bank of India, and regulatory body responsible for regulation of the Indian banking system and Indian currency. Owned by the Ministry of Finance , Government of India , it is responsible for the control, issue, and maintenance of the supply of the Indian rupee.
The deputy governor of the Reserve Bank of India is the second most senior executive of the Reserve Bank of India after its governor. Since its establishment in 1934 by the government of India, the RBI has had 63 deputy governors. Currently the rank of deputy governor is equivalent to the rank of secretary to the govt. of India.
The committee comprises six members – three officials of the Reserve Bank of India and three external members nominated by the government of India. They need to observe a "silent period" seven days before and after the rate decision for "utmost confidentiality". The governor of the Reserve Bank of India is the chairperson ex officio of the ...