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Business News/ News / India/  Former RBI Governor S Venkitaramanan dies at 92
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Former RBI Governor S Venkitaramanan dies at 92

S Venkitaramanan was the 18th RBI Governor who served for a time period of two years, that is, from 1990 to 1992.

Former RBI Governor S Venkitaramanan passed away this morning.Premium
Former RBI Governor S Venkitaramanan passed away this morning.

Former Reserve Bank of India (RBI) Governor S Venkitaramanan passed away this morning due to a brief illness. He was 92 years old and survived by his two daughters, Girija and Sudha, and their families.

S Venkitaramanan was the 18th RBI Governor who served for a time period of two years, that is, from 1990 to 1992. Prior to this, he served as Finance Secretary from 1985 to 1989 in the Ministry of Finance.

Responding to the news, RBI Governor Shaktikanta Das expressed grief. Taking to X, he 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.

“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," said the RBI on the death of the former Governor.

Venkitaramanan's term also saw India adopt the International Monetary Fund (IMF)'s stabilisation programme where the rupee underwent a devaluation and the launch of the programme of economic reforms, the RBI said in its website.

Venkitaramanan had served the RBI between December 1990 and December 1992. Senior Congress leader and former Union Minister Jairam Ramesh said, "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."

Apart from this, Venkitaramanan had made major contributions in industrial development and energy as well, Ramesh said in a social media post.

"He (Venkitaramanan) was a key aide of C Subramaniam who played a pivotal role in ushering in the Green Revolution in the mid-60s. I have many fond memories of our association that spanned almost three decades and from which I learned much," he added.

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Published: 18 Nov 2023, 12:42 PM IST
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