Former Reserve Bank of India (RBI) Governor S Venkataramanan has passed away at the age of 92.
S Venkataramanan was the 18th Governor of RBI, serving during the year 1990-1992. Before this he was Finance Secretary in the Ministry of Finance from 1985 to 1989.
How was the tenure: Between 1990 and 1992, during the tenure of former RBI Governor S Venkataramanan, the country was facing a crisis at the level of foreign exchange reserves. Despite this, Venkataramanan took the country forward with efficient management. Under Venkataramanan’s leadership, India adopted the IMF’s stabilization program, which necessitated the devaluation of the rupee and initiated economic reforms.
For information, let us tell you that born on December 21, 1931 in Travancore, Venkataramanan served on many influential positions including Finance Secretary of India and Advisor to the Government of Karnataka before becoming the RBI Governor. His dedication to public service and economic administration did not end with the end of his tenure as RBI Governor. Venkataramanan continued to contribute to public service even after his tenure as RBI Governor ended and held a number of roles.