List of deputy governors of the Reserve Bank of India

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.

Deputy Governor of the Reserve Bank of India
Seal of the Reserve Bank of India
Appointer	Government of India
Term length	Three years
Constituting instrument	Reserve Bank of India Act, 1934
Inaugural holder	James Braid Taylor and Sikandar Hayat Khan
Deputy	Executive Director
Salary	₹ 2,25,000/-
Website	www.rbi.org.in/scripts/deputygovernors.aspx

The term of office typically runs for three years and can, in some cases, be extended for another two years.

The inaugural officeholder was James Braid Taylor, while K J Udeshi holds the unique distinction of becoming the first female deputy governor of the Reserve Bank of India.

Currently there are four incumbent deputy governors of the Reserve Bank of India

RBI deputy governors list

List of deputy governors of the Reserve Bank of India

No.	Officeholder	Portrait	Term start	Term end	Term in office	Background	Other offices held	References
1	James Braid Taylor		1 April 1935	30 June 1937	2 years, 90 days	Civil servant	Indian Civil Service officer	[1][2][3]
2	Sikandar Hayat Khan		1 April 1935	20 October 1935	202 days	Politician	Prime Minister of Punjab	[1][2][3]
3	Manilal Balabhai Nanavati		21 December 1936	21 December 1941	5 years, 0 days	Freedom fighter		[1][2][3]
4	C. D. Deshmukh		22 December 1941	10 October 1943	1 year, 292 days	Indian Civil Service officer	Minister of Finance	[1][2][3]
5	Wajahat Hussain		16 August 1943	4 December 1945	2 years, 49 days			[1][2][3]
6	C.R. Trevor		16 August 1943	31 December 1949	6 years, 137 days			[1][2][3]
7	M.G. Mekhri		8 July 1946	7 July 1951	4 years, 364 days			[1][2][3]
8	W.T. McCallum		15 April 1946	14 July 1948	2 years, 90 days			[1][2][3]
9	N. Sundaresan		1 January 1950	31 December 1954	4 years, 364 days			[1][2][3]
10	Ram Nath		8 June 1951	8 July 1959	8 years, 30 days			[1][2][3]
11	K. G. Ambegaonkar		1 March 1955	29 February 1960	4 years, 365 days	Indian Civil Service officer	Governor of the Reserve Bank of India	[1][2][3]
12	Borra Venkatappaiah		1 July 1955	28 February 1962	6 years, 242 days	Career banker	Chairman of the State Bank of India	[1][2][3]
13	M.V. Rangachari		1 March 1960	28 February 1965	4 years, 364 days			[1][2][3]
14	Dattatreya Gopal Karve		1 March 1962	29 February 1964	1 year, 365 days	Economist	Professor at Fergusson University	[1][2][3]
15	C.S. Divekar		12 November 1962	11 November 1965	2 years, 364 days			[1][2][3]
16	M.R. Bhide		29 February 1964	25 January 1967	2 years, 331 days			[1][2][3]
17	B.K. Madan		1 July 1964	31 January 1967	2 years, 214 days	Economist	Chairman of IDBI Bank	[1][2][3]
18	B. N. Adarkar		16 June 1965	3 May 1970	4 years, 321 days	Economist	Governor of the Reserve Bank of India	[1][2][3]
19	A. Bakshi		24 January 1967	8 September 1969	2 years, 227 days			[1][2][3]
20	J.J. Anjaria		1 February 1967	28 February 1970	3 years, 27 days			[1][2][3]
21	P.N. Damry		13 February 1967	15 March 1972	5 years, 31 days	Economist		[1][2][3]
22	Rabindra Kishen Hazari		27 November 1969	26 November 1977	7 years, 364 days			[1][2][3]
23	V. V. Chari		17 November 1970	30 November 1975	5 years, 13 days			[1][2][3]
24	S.S. Shiralkar		18 December 1970	25 July 1976	5 years, 220 days			[1][2][3]
25	R.K. Sheshadri		26 July 1973	25 July 1976	2 years, 365 days			[1][2][3]
26	K.S. Krishnaswamy		29 December 1975	31 March 1981	5 years, 92 days	Economist		[1][2][3]
27	P.R. Nangia		29 December 1975	15 February 1982	6 years, 48 days			[1][2][3]
28	J.C. Luther		4 January 1977	1 June 1977	148 days			[1][2][3]
29	M. Ramakrishnayya		4 January 1977	1 June 1977	148 days	Indian Administrative Service officer	Chairman of the National Bank for Agriculture and Rural Development	[1][2][3]
30	Amitav Ghosh		21 January 1982	20 January 1992	9 years, 364 days	Career banker	Governor of the Reserve Bank of India	[1][2][3]
31	C. Rangarajan		12 February 1982	20 August 1991	9 years, 189 days	Career banker	Governor of the Reserve Bank of India	[1][2][3]
32	M.V. Hate		12 March 1982	11 March 1985	2 years, 364 days			[1][2][3]
33	R.K. Kaul		1 October 1983	30 September 1986	2 years, 364 days			[1][2][3]
34	P.D. Ojha		29 April 1985	28 April 1990	4 years, 364 days			[1][2][3]
35	P.R. Nayak		1 April 1987	31 March 1992	4 years, 365 days			[1][2][3]
36	R. Janakiraman		1 April 1987	31 March 1992	4 years, 365 days	Career banker	Managing director of the State Bank of India	[1][2][3]
37	S.S. Tarapore		30 January 1992	30 September 1996	4 years, 244 days	Career banker		[1][2][3]
38	D. R. Mehta		11 November 1992	21 February 1995	3 years, 102 days	Economist	Chairman of the Securities and Exchange Board of India	[1][2][3]
39	S.P. Talwar		7 November 1994	30 June 2001	6 years, 235 days	Career banker		[1][2][3]
40	R.V. Gupta		2 May 1995	30 November 1997	2 years, 212 days	Career banker		[1][2][3]
41	Y. V. Reddy		14 September 1996	31 July 2002	5 years, 320 days	Career banker	Governor of the Reserve Bank of India	[1][2][3]
42	Jagdish Capoor		1 January 1997	30 June 2001	4 years, 180 days	Career banker	Chairman of HDFC Bank	[1][2][3]
43	Vepa Kamesam		1 July 2001	23 December 2003	2 years, 175 days	Career banker	Managing director of the State Bank of India	[1][2][3]
44	G P Muniappan		1 July 2001	31 May 2003	1 year, 334 days	Career banker	Chairman of the Deposit Insurance and Credit Guarantee Corporation	[1][2][3]
45	Rakesh Mohan		9 September 2002	10 June 2009	6 years, 274 days	Economist	Consultant at the Planning Commission	[1][2][3]
46	K J Udeshi		10 June 2003	12 December 2005	2 years, 185 days	Career banker	Chairman of Bharatiya Reserve Bank Note Mudran	[1][2][3]
47	V Leeladhar		21 September 2004	8 December 2008	4 years, 78 days	Career banker	Chairman of Union Bank of India	[1][2][3]
48	Shyamala Gopinath		21 September 2004	8 December 2008	4 years, 78 days	Career banker	Chairman of HDFC Bank	[1][2][3]
49	Usha Thorat		10 November 2005	9 November 2010	4 years, 364 days	Career banker		[1][2][3]
50	Kamalesh Chandra Chakrabarty		15 June 2009	25 April 2014	4 years, 314 days	Career banker	Chairman of Bank of Baroda	[1][2][3]
51	Subir Gokarn		24 November 2009	31 December 2012	3 years, 37 days	Economist	Professor at Stanford University	[1][2][3]
52	Anand Sinha		19 January 2011	18 January 2014	2 years, 364 days	Career banker	Chairman of the Export Credit Guarantee Corporation of India	[1][2][3]
53	Harun Rashid Khan		4 July 2011	4 July 2016	5 years, 0 days	Career banker	Chairman of the National Bank for Agriculture and Rural Development	[1][2][3]
54	Urjit Patel		11 January 2013	4 September 2016	3 years, 237 days	Career banker	Governor of the Reserve Bank of India	[1][2][3]
55	R Gandhi		3 April 2014	2 April 2017	3 years, 237 days	Career banker		[1][2][3]
56	Subhash Sheoratan Mundra		31 July 2014	30 July 2017	2 years, 364 days	Career banker		[1][2][3]
57	Viral Acharya		23 January 2017	23 January 2019	2 years, 0 days	Career banker		[1][2][3]
58	N. S. Vishwanathan		4 July 2016	31 March 2020	3 years, 271 days	Career banker		[1][2][3]
59	B.P. Kanungo		3 April 2017	2 April 2021	3 years, 364 days	Career banker		[1][2][3]
60	Mahesh Kumar Jain		22 June 2018	26 June 2023	7 years, 36 days	Career banker		[1][2][3]
61	Michael Patra		15 January 2020	14 January 2025	5 years, 194 days	Career banker		[1][2][3]
62	M. Rajeshwar Rao		9 October 2020	Incumbent	4 years, 292 days	Career banker		[1][2][3]
63	T. Rabi Sankar		3 May 2021	Incumbent	4 years, 86 days	Career banker		[1][2][3]
64	Swaminathan Janakiraman		26 June 2023	Incumbent	2 years, 32 days	Career banker	Managing Director of the State Bank of India	[1][2][3]
65	Poonam Gupta (Economist)		2 April 2025	Incumbent	117 days	Economist	Lead Economist at World Bank	[4][5][6]