M. Narasimham was the thirteenth Governor of the Reserve Bank of India from 2 May 1977 to 30 November 1977[1] . Prior to his appointment, he was the Chairman and Managing Director of the Life Insurance Corporation of India as Governor of the RBI. [2]

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. [3]

After his short term as RBI Governor he served as India's Executive Director at the World Bank and later at the IMF. Narasimham also served as Secretary in the Ministry of Finance. He was awarded Padma Vibhushan award in 2000. [4]

Government offices Preceded byK. R. Puri Governor of RBI 1977 Succeeded byDr. I. G. Patel

References

  1. ^ "M Narasimham". Reserve Bank of India. Retrieved 2008-09-15.
  2. ^ "List of Governors". Reserve Bank of India. Retrieved 2006-12-08.
  3. ^ "List of Governors". Reserve Bank of India. Retrieved 2006-12-08.
  4. ^ "Republic Day honours". Frontline. Retrieved 2007-07-18.