R. N. Malhotra was the seventeenth governor of the Reserve Bank of India

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), serving from 4 February 1985 to 22 December 1990.

Malhotra was a member of the Indian Administrative Service

Indian Administrative Service

The Indian Administrative Service is the administrative civil service of the Government of India. It is one of the three All India Services....

. He had served as Secretary, Finance, and as India's Executive Director of 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...

 before his appointment as governor of the RBI. During his tenure, the 500-rupee

Indian rupee

The Indian rupee is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India....

note was introduced.
He signed the 8hq A 50 rupees note 1986.