Meet The First Indian To Became RBI Governor Of India After Britishers

Al Arafat Sherfuddeen

June 21st, 2016

Image Source: ovguide

Dwaraknath Deshmukh was an Indian Civil servant who went on to become the first Indian national to govern the RBI, he was also the third governor of RBI from the time of its institution. The RBI as we know was established by the British and governed by two Britishers before the baton was passed to an Indian. Even when Dwaraknath Deshmukh took over the reigns at the Reserve Bank of India, India was yet to attain independence.

Mr. Deshmukh overlooked some of the crucial phases of RBI’s history that included

1. Overlooking the division of assets between India and Pakistan after partition

2. Nationalizing of RBI from being a shareholder institution.

Mr. Deshmukh was the representative for India at the Breton Woods Conference which resulted in the formation of International Monetary Fund besides becoming a board of director in the IMF.

Finance Minister

His financial acumen earned the respect of Nehru, who was quick to induct him as the finance minister of post independent India. He would go on to become the founding member of National Council Of Applied Economic Research (NCAER). He had eventually resigned from the post in protest of linguistic re-organisation of states, a re-organization that would make Bombay the capital of a larger region that included non-Marathi population. Deshmukh went on to play leading roles in UGC, Delhi University and also came third in the presidential elections when contested.


The Logical Indian thanks Deshmukh for his pioneering contributions to India’s economy and finance.

Share your thoughts..

Related Stories

Govt Reconstitutes Economic Advisory Council That It Had Disbanded In 2014; Meet The Advisors

Indian para-athlete reduced to begging in Berlin before tournament

Manohar Parrikar Becomes CM Of Goa, Arun Jaitley New Defence Minister; Know The Details

India Has Reportedly Passed The United Kingdom In Terms Of Economy For The First Time In Over 100 Years

After Long Suspense, Urjit Patel Announced The Next RBI Governor. Know About Him

Past Story: How Sikkim Ended Monarchy & Became Part Of India

Latest on The Logical Indian

Awareness

Restaurants To Face Jail, Fine For Selling Mineral Water Above MRP: Centre To Supreme Court

News

Please Don’t Lecture On Nationalism, Says Former PM Dr Manmohan Singh to PM Narendra Modi

My Story

My Story: I Have No Regrets Even Though We Are Poor. He Takes Cares For Our Daughter When I Work

News

Rs.100 Crore Fraudulently Transferred From Jharkhand Government’s Account To A Private Company

News

Goa Gets Its First Mobile Food Testing Van

News

11 French Tourists Allegedly Beaten By Local Boys In Uttar Pradesh; 8 Arrested