Former Reserve Bank governor Maidavolu Narasimham passes away at 94
After his short term as RBI governor, he served as India's executive director at the World Bank and later at the International Monetary Fund (IMF)
 "Former Reserve Bank governor Maidavolu Narasimham passes away at 94")
premium
Former Reserve Bank of India Governor Maidavolu Narasimham, famously known as the father of Indian banking reforms, passed away on Tuesday at the age of 94.
He was born in 1927 and hails from Mydavolu village of Guntur District in Andhra Pradesh.
Narasimham was the 13th governor of RBI and he served as the central bank head from May 2, 1977 to November 30, 1977.
Narasimham was the first and so far the only governor to be appointed from the Reserve Bank cadre, having joined the Bank as a Research Officer in the Economic Department. He later joined the government and prior to his appointment as governor he served as Additional Secretary, Department of Economic Affairs.
After his short term as RBI governor, he served as India's executive director at the World Bank and later at the International Monetary Fund (IMF).
Narasimham also headed various committees including the one on Financial System, 1991 and the Committee of Banking Sector Reforms, 1998.
Narasimham was awarded Padma Vibhushan award in the year 2000.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%