M. Narasimham
Encyclopedia
M. Narasimham was the thirteenth Governor of the Reserve Bank of India
(RBI) from 2 May 1977 to 30 November 1977
RBI follows a policy of in house promotions, where all staff persons are promoted internally. The only two jobs where this is not done is for the Governor and one Deputy Governor. In Narasimham's case, in house promotion was upheld even for the Governor's post. Hence he was the first Reserve Bank cadre officer to be appointed as Governor. He had 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
. Narasimham also served as Secretary in the Ministry of Finance. He was awarded Padma Vibhushan
award in 2000.
Reserve Bank of India
The Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
(RBI) from 2 May 1977 to 30 November 1977
RBI follows a policy of in house promotions, where all staff persons are promoted internally. The only two jobs where this is not done is for the Governor and one Deputy Governor. In Narasimham's case, in house promotion was upheld even for the Governor's post. Hence he was the first Reserve Bank cadre officer to be appointed as Governor. He had 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
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
and later at the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
. Narasimham also served as Secretary in the Ministry of Finance. He was awarded Padma Vibhushan
Padma Vibhushan
The Padma Vibhushan is the second highest civilian award in the Republic of India. It consists of a medal and a citation and is awarded by the President of India. It was established on 2 January 1954. It ranks behind the Bharat Ratna and comes before the Padma Bhushan...
award in 2000.