Former RBI Governor S. Venkitaramanan Passes Away

Former Governor of the Reserve Bank of India, S. Venkitaramanan, passed away on Saturday. He was 92.

Venkitaramanan served as the 18th Governor of the RBI, holding office from 1990 to 1992, with a tenure of two years.

He was a member of the Indian Administrative Service and had served as finance secretary and adviser to the Government of Karnataka prior to his appointment as governor.

The country faced difficulties related to the external sector during his tenure. His adroit management saw the country tide over the balance of payments crisis, the RBI said on its official website.

During his time as RBI Governor, S. Venkitaramanan oversaw significant changes in India's economic policies. The country implemented the International Monetary Fund's stabilisation program, the central bank said.

"Very sad to hear about the demise of Shri S.Venkitaramanan, former Governor of the RBI. He was an outstanding personality and public servant. Made immense contribution during periods of crisis. May his soul rest in eternal peace", RBI Governor Shaktikanta Das said on X (formerly known as twitter)

"One of India's most brilliant civil servants who left his mark, especially in the field of finance, has just passed away in Chennai at the age of 92. S. Venkitaramanan was RBI Governor at a most crucial time of our economic history during 1990-92," Congress leader Jairam Ramesh said on X.

"Apart from this he made major contributions in industrial development and energy as well. He was a key aide of C. Subramaniam who played a pivotal role in ushering in the Green Revolution in the mid-60s," Ramesh added.

"I have many fond memories of our association that spanned almost three decades and from which I learned much."