RBI Governors
Key Concepts
| # | Concept | Explanation |
|---|---|---|
| 1 | First RBI Governor | Sir Osborne Smith (1935-37) – appointed under the Reserve Bank of India Act, 1934. |
| 2 | First Indian Governor | Sir C. D. Deshmukh (1943-49) – also the youngest (age 41) and longest-serving Indian Governor till date. |
| 3 | Tenure Rule | 3 years or till age 65, whichever is earlier; can be re-appointed. |
| 4 | Appointment Authority | Appointed by the Government of India (Finance Ministry) on the recommendation of the Financial Sector Regulatory Appointment Search Committee (FSRASC). |
| 5 | Signature on Currency | Every Indian rupee note carries the Governor’s signature in office; hence currency trivia is directly linked to the incumbent. |
| 6 | Ex-officio Chair | RBI Governor is ex-offio Chairman of the Monetary Policy Committee (MPC) and Central Board of Directors. |
| 7 | 25th & Incumbent (Dec 2025) | Sanjay Malhotra (assumed 14 Dec 2025) – former Revenue Secretary. |
| 8 | Only Woman Governor | Dr. K. J. Udeshi (11 Sep 2003 – 27 Jul 2005) – Deputy Governor who acted as Governor for 23 days between Jalan & Reddy. |
15 Practice MCQs
1. Who was the first Governor of the Reserve Bank of India?
A) Sir C. D. DeshmukhB) Sir James Taylor
C) Sir Osborne Smith
D) Montagu Norman
Answer
C) Sir Osborne SmithSolution: Appointed on 1 Apr 1935 under the RBI Act, 1934.
Shortcut: “OS” – Osborne Smith = Original Starter.
Concept tag: #FirstGovernor
2. The first Indian to become RBI Governor was
A) Dr. Manmohan SinghB) Sir C. D. Deshmukh
C) Dr. I. G. Patel
D) Dr. Y. V. Reddy
Answer
B) Sir C. D. DeshmukhSolution: Took charge on 11 Aug 1943.
Trick: “CID” – C. D. Deshmukh = First Indian Deshmukh.
Concept tag: #FirstIndian
3. Who among the following served as both Finance Minister and RBI Governor?
A) Dr. Bimal JalanB) Dr. Manmohan Singh
C) Dr. Raghuram Rajan
D) P. C. Bhattacharya
Answer
B) Dr. Manmohan SinghSolution: RBI Governor 1982-85; Union FM 1991-96 & later PM.
Trick: “Double M” – Manmohan = Minister & Manager of RBI.
Concept tag: #DualRole
4. The signature on the ₹200 banknote issued in 2023 belongs to
A) Shaktikanta DasB) Raghuram Rajan
C) Urjit Patel
D) Viral Acharya
Answer
A) Shaktikanta DasSolution: Das was Governor from 12 Dec 2018 to 11 Dec 2024; notes printed in 2023 bear his signature.
Trick: “DAS” – Das’s Autograph on currency.
Concept tag: #CurrencySignature
5. Who has the longest total tenure as RBI Governor among the following?
A) Dr. Y. V. ReddyB) Dr. Bimal Jalan
C) Dr. D. Subbarao
D) Sir C. D. Deshmukh
Answer
B) Dr. Bimal JalanSolution: 6 years (22 Nov 1997 – 6 Sep 2003).
Trick: “Jalan = Jal-jal ke 6 saal” (Hindi rhyme).
Concept tag: #LongestTenure
6. The 25th Governor of RBI (as on Dec 2025) is
A) T. Rabi SankarB) Sanjay Malhotra
C) Rajiv Ranjan
D) Shaktikanta Das
Answer
B) Sanjay MalhotraSolution: Assumed office 14 Dec 2025 after Shaktikanta Das.
Trick: “SM-25” – Sanjay Malhotra = Silver jubilee Governor.
Concept tag: #CurrentGovernor
7. Which Governor introduced the concept of “Inflation Targeting” in India?
A) Dr. Raghuram RajanB) Dr. Urjit Patel
C) Dr. D. Subbarao
D) Dr. Y. V. Reddy
Answer
A) Dr. Raghuram RajanSolution: Formalised under his tenure (2013-16); MPC constituted 2016.
Trick: “R-R” – Rajan = RBI’s Real inflation Regulator.
Concept tag: #MonetaryPolicy
8. Who was the RBI Governor during the 1991 Balance-of-Payments crisis?
A) S. VenkitaramananB) Dr. I. G. Patel
C) Dr. Manmohan Singh
D) R. N. Malhotra
Answer
A) S. VenkitaramananSolution: Held office 1990-92; navigated the crisis.
Trick: “Venki = V crisis” (V for 1991).
Concept tag: #HistoricalEvent
9. The only Deputy Governor to have acted as Governor for more than 20 days is
A) Dr. K. J. UdeshiB) Dr. Viral Acharya
C) Dr. Rakesh Mohan
D) Dr. Subir Gokarn
Answer
A) Dr. K. J. UdeshiSolution: 23 days between Jalan & Reddy (2003).
Trick: “KJU – K-Queen Unique” (only woman).
Concept tag: #ActingGovernor
10. Match the Governor to their prior post:
(P) Shaktikanta Das – 1. Economic Affairs Secretary
(Q) Dr. Raghuram Rajan – 2. IMF Chief Economist
(R) Dr. Urjit Patel – 3. NIPFP Director
(S) Dr. D. Subbarao – 4. Finance Secretary
Correct code is
A) P-1, Q-2, R-3, S-4B) P-1, Q-2, R-4, S-3
C) P-2, Q-1, R-3, S-4
D) P-4, Q-2, R-1, S-3
Answer
A) P-1, Q-2, R-3, S-4Solution: All matches correct.
Trick: “1-2-3-4” sequential memory.
Concept tag: #CareerPath
11. Who introduced the “Universal Bank” concept in India?
A) Dr. Bimal JalanB) Dr. Y. V. Reddy
C) Dr. Raghuram Rajan
D) M. Narasimham
Answer
B) Dr. Y. V. ReddySolution: Under him banks could choose to become universal via 2001 guidelines.
Trick: “Reddy = Ready for Universal”.
Concept tag: #BankingReform
12. The RBI Governor is not a member of
A) MPCB) NITI Aayog Governing Council
C) FSDC
D) GST Council
Answer
D) GST CouncilSolution: GST Council is headed by Union FM; RBI Governor attends but is not a member.
Trick: “GST – Governor Sits Tight (only observer)”.
Concept tag: #ConstitutionalBodies
13. Which Governor demonetised ₹1,000 & ₹10,000 notes first (1946)?
A) Sir C. D. DeshmukhB) Sir James Taylor
C) Sir Osborne Smith
D) Sir Benegal Rama Rau
Answer
B) Sir James TaylorSolution: 1946 demonetisation under Taylor; again in 1978 under Patel.
Trick: “Taylor = Tailor cuts high notes”.
Concept tag: #Demonetisation
14. The committee that recommended the present 4% CPI inflation target was headed by
A) Dr. Urjit PatelB) Dr. Raghuram Rajan
C) Dr. Arvind Subramanian
D) Dr. Y. V. Reddy
Answer
A) Dr. Urjit PatelSolution: 2014 Urjit Patel Committee → 4% ±2%.
Trick: “UP-4” – Urjit Patel = 4% target.
Concept tag: #InflationTargeting
15. Who among the following never served as Deputy Governor before becoming Governor?
A) Dr. D. SubbaraoB) Dr. Y. V. Reddy
C) Dr. Bimal Jalan
D) Dr. I. G. Patel
Answer
C) Dr. Bimal JalanSolution: Jalan came directly from Finance Ministry; others were Dy. Governors.
Trick: “Jalan = Jumped (no Deputy stop)”.
Concept tag: #CareerLadder
Speed Tricks
| Situation | Shortcut | Example |
|---|---|---|
| 1st Governor | “OS-1” | Osborne Smith = Original Starter 1 |
| 1st Indian | “CID-1943” | C. D. Deshmukh = Indian @1943 |
| Currency signature | Current year – 1 = signature of previous Governor | 2025 note → Malhotra (Das retired Dec 2024) |
| Longest Indian tenure | “6-Jalan” | Bimal Jalan = 6 years |
| Only lady | “KJU-23” | K. J. Udeshi acted 23 days |
Quick Revision
| Point | Detail |
|---|---|
| 1 | RBI established 1 Apr 1935; 1st Governor Osborne Smith. |
| 2 | Sir C. D. Deshmukh – first Indian Governor (1943) & longest Indian tenure (6 yr 4 m). |
| 3 | Manmohan Singh – only person to be both RBI Governor (1982-85) & Finance Minister. |
| 4 | Shaktikanta Das – 25th Governor; signature on 2018-24 currency. |
| 5 | Sanjay Malhotra – incumbent 25th Governor (from 14 Dec 2025). |
| 6 | Dr. Urjit Patel Committee → 4% CPI inflation target (±2%). |
| 7 | MPC formed 2016; Governor is ex-officio Chair. |
| 8 | Demonetisation years – 1946 (Taylor), 1978 (Patel), 2016 (Patel). |
| 9 | Only woman to sign currency – K. J. Udeshi (Acting, 2003). |
| 10 | Tenure – 3 years or age 65, whichever first; can be extended. |
BETA
