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

Al Arafat Sherfuddeen

June 21st, 2016 / 5:40 PM

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.

Contributors

Edited by :

Share your thoughts..

Related Stories

Shaktikanta Das

Centre’s Face Of Demonetisation, Shaktikanta Das, Appointed As RBI’s New Governor

show cause notice RBI

CIC Slaps Show-Cause Notice On RBI Governor For Non-Disclosure Of Willful Defaulters’ List

Detective

My Story: “I Became India’s First Female Detective–It Was Unheard Of!”

Viral Acharya

Govt Plays T20 While RBI Plays Test Match: RBI Deputy Governor’s Speech Raises Questions On Autonomy

Freedom Fighter

Forgotten Freedom Fighters: When ‘Salihan’ Took On Armed Britishers With Lathis

RBI Deputy Governor Position Vacant For The Last Seven Months

Latest on The Logical Indian

News

Amul Sends Legal Notice To Google India For Allowing Fraudulent Websites On Its Platform

Fact Check

Fact Check: Rahul Gandhi Saying Gandhiji’s Non-Violence Comes From Islam To Hyderabad Kite Flying Ban

News

JNU Sedition Row: Court Pulls Up The Police, Chargesheet Remains Unaccepted

News

After Mid-Air Shutdowns, DGCA Restricts IndiGo And GoAir From Using A320 Neo Planes Powered By PW Engines

News

Uttarakhand’s Tree Man Who Planted 50 Lakh Trees Dies At 96

My Social Responsibility

Diwali Everyday: This NGO Is Lighting Up India’s Villages With Solar-Powered Lamps

x

Stories that deserve attention, delivered to your inbox!

Handpicked, newsworthy stories which deserve the attention of a rational generation.