RBI Governor List 1935 to 2026 (Quick Answer)
The Reserve Bank of India has had 26 Governors from 1935 to 2026. The first was Sir Osborne Smith (1 April 1935), the first Indian Governor was Sir C D Deshmukh (1943), and the current Governor is Sanjay Malhotra, the 26th, who took charge on 11 December 2024 for three years. Every date below is taken from the RBI's official list of Governors on rbi.org.in.
🔥 Key Exam Takeaway: 26 Governors in total. First = Osborne Smith. First Indian = C D Deshmukh. Longest tenure = Benegal Rama Rau (about 7.5 years). Only Governor who later became Prime Minister = Dr Manmohan Singh. Current (26th) = Sanjay Malhotra, from 11 Dec 2024. Many websites still show Shaktikanta Das as "present" Governor. That is out of date: his term ended on 10 Dec 2024.
List of RBI Governors and Their Tenure (1935 to 2026)
Dates are in DD-MM-YYYY format, exactly as the RBI publishes them. "Approx. length" is calculated from those dates.
| No. | Governor | Tenure (from – to) | Approx. length |
|---|---|---|---|
| 1 | Sir Osborne Smith | 01-04-1935 to 30-06-1937 | 2 yr 3 m |
| 2 | Sir James Taylor | 01-07-1937 to 17-02-1943 | 5 yr 7 m |
| 3 | Sir C D Deshmukh | 11-08-1943 to 30-06-1949 | 5 yr 11 m |
| 4 | Sir Benegal Rama Rau | 01-07-1949 to 14-01-1957 | 7 yr 6 m (longest) |
| 5 | K G Ambegaonkar | 14-01-1957 to 28-02-1957 | 45 days (interim) |
| 6 | H V R Iengar | 01-03-1957 to 28-02-1962 | 5 yr |
| 7 | P C Bhattacharya | 01-03-1962 to 30-06-1967 | 5 yr 4 m |
| 8 | L K Jha | 01-07-1967 to 03-05-1970 | 2 yr 10 m |
| 9 | B N Adarkar | 04-05-1970 to 15-06-1970 | 42 days (interim) |
| 10 | S Jagannathan | 16-06-1970 to 19-05-1975 | 4 yr 11 m |
| 11 | N C Sen Gupta | 19-05-1975 to 19-08-1975 | 3 months (interim) |
| 12 | K R Puri | 20-08-1975 to 02-05-1977 | 1 yr 8 m |
| 13 | M Narasimham | 02-05-1977 to 30-11-1977 | 7 months |
| 14 | Dr I G Patel | 01-12-1977 to 15-09-1982 | 4 yr 9 m |
| 15 | Dr Manmohan Singh | 16-09-1982 to 14-01-1985 | 2 yr 4 m |
| 16 | A Ghosh | 15-01-1985 to 04-02-1985 | 20 days (shortest) |
| 17 | R N Malhotra | 04-02-1985 to 22-12-1990 | 5 yr 10 m |
| 18 | S Venkitaramanan | 22-12-1990 to 21-12-1992 | 2 yr |
| 19 | Dr C Rangarajan | 22-12-1992 to 22-11-1997 | 4 yr 11 m |
| 20 | Dr Bimal Jalan | 22-11-1997 to 06-09-2003 | 5 yr 9 m |
| 21 | Dr Y V Reddy | 06-09-2003 to 05-09-2008 | 5 yr |
| 22 | Dr D Subbarao | 05-09-2008 to 04-09-2013 | 5 yr |
| 23 | Dr Raghuram Rajan | 04-09-2013 to 04-09-2016 | 3 yr |
| 24 | Dr Urjit R Patel | 04-09-2016 to 11-12-2018 | 2 yr 3 m |
| 25 | Shaktikanta Das | 12-12-2018 to 10-12-2024 | 6 yr (second longest) |
| 26 | Sanjay Malhotra | 11-12-2024 onwards | Current Governor |
Source check: The RBI's own text calls Y V Reddy the "twenty-first", D Subbarao the "22nd", Raghuram Rajan the "23rd", Urjit Patel the "twenty-fourth", Shaktikanta Das the "25th" and Sanjay Malhotra the "26th" Governor. So interim Governors are counted in the numbering.
Current RBI Governor of India 2026: Sanjay Malhotra (26th Governor)
| Point | Fact |
|---|---|
| Number | 26th Governor of the RBI |
| Took charge | 11 December 2024 |
| Term | Three years (so it runs to December 2027 unless extended) |
| Background | IAS officer, 1990 batch, Rajasthan cadre |
| Post just before | Secretary, Department of Revenue, Ministry of Finance |
| Earlier posts | Secretary, Department of Financial Services; Chairman & MD of REC Ltd |
| RBI link before | Government Nominee Director on the RBI Central Board (16 Feb 2022 to 14 Nov 2022) |
| Education | B.Tech in Computer Science, IIT Kanpur; Master in Public Policy, Princeton University |
| Predecessor | Shaktikanta Das (12 Dec 2018 to 10 Dec 2024) |
Exam trap: Malhotra succeeded Das directly. There was no interim Governor in between: Das left on 10 December 2024 and Malhotra joined on 11 December 2024.
First Governor of RBI and Other Important Firsts
| Question type | Answer |
|---|---|
| First Governor of RBI | Sir Osborne Smith (1935) |
| First Indian Governor | Sir C D Deshmukh (1943) |
| Governor when RBI was nationalised (1 Jan 1949) | Sir C D Deshmukh |
| Longest-serving Governor | Sir Benegal Rama Rau (1949 to 1957) |
| Second longest | Shaktikanta Das (exactly 6 years) |
| Shortest tenure | A Ghosh (15 Jan 1985 to 4 Feb 1985) |
| Only Governor from the RBI's own cadre | M Narasimham (joined RBI as a Research Officer) |
| Governor who later became Prime Minister | Dr Manmohan Singh |
| Governor who later became Union Finance Minister | C D Deshmukh (1950–56); Manmohan Singh (1991–96) |
| Governor at the time of 1969 bank nationalisation | L K Jha |
| Governor at the time of 1980 nationalisation of six banks | Dr I G Patel |
| Governor during the 1991 balance of payments crisis | S Venkitaramanan |
| Governor during the 2016 demonetisation | Dr Urjit R Patel |
| Governor when Regional Rural Banks were set up (1975) | K R Puri |
| Governor during IDBI (1964) and UTI (1964) setup | P C Bhattacharya |
| Woman Governor so far | None (all 26 have been men) |
🔥 Key Exam Takeaway: "Narasimham" appears twice in exams. He was the only Governor from the RBI cadre, and he also chaired the Narasimham Committees on the financial system (1991) and banking sector reforms (1998).
Who Signs Indian Currency Notes? RBI Governor Signature Facts
| Fact | Detail |
|---|---|
| Who signs Indian banknotes of ₹2 and above? | The RBI Governor. RBI is the sole note-issuing authority for these notes. |
| Who signs the ₹1 note? | The Finance Secretary (Government of India). The ₹1 note is issued by the Government and is a liability of the Government, not the RBI. |
| Governors who did not sign any banknote | Sir Osborne Smith and K G Ambegaonkar (both stated by the RBI) |
| Can two notes have the same serial number? | Yes, but then they differ in inset letter, year of printing, or the Governor's signature (RBI currency FAQ). |
| Shaktikanta Das and the ₹1 note | The ₹1 note released in 2017 carried his signature as Secretary, Ministry of Finance, before he became Governor. |
Interim and Acting RBI Governors (Common Exam MCQ)
Four Governors held office only for a short gap until a regular Governor joined:
- K G Ambegaonkar (1957) – after Benegal Rama Rau resigned, until H V R Iengar took over.
- B N Adarkar (1970) – after L K Jha left to become Ambassador to the USA, until S Jagannathan took over.
- N C Sen Gupta (1975) – for three months until K R Puri took over.
- A Ghosh (1985) – Deputy Governor who held charge until R N Malhotra took over.
Memory trick: "Ambe, Adarkar, Sen Gupta, Ghosh" – think "AASG = Acting And Short Governors".
How to Remember the RBI Governor List (Memory Trick)
Step 1: Learn the eras, not 26 names at once.
| Era | Governors | Hook |
|---|---|---|
| British era (1935–1943) | Osborne Smith, James Taylor | "Smith and Taylor" are both English surnames |
| Early Indian era (1943–1962) | Deshmukh, Rama Rau, Ambegaonkar, Iengar | "D-R-A-I" |
| Nationalisation era (1962–1977) | Bhattacharya, Jha, Adarkar, Jagannathan, Sen Gupta, Puri, Narasimham | Jha saw 1969 nationalisation |
| Economist era (1977–1992) | I G Patel, Manmohan Singh, Ghosh, R N Malhotra, Venkitaramanan | Two Malhotras: R N (17th) and Sanjay (26th) |
| Reform era (1992–2013) | Rangarajan, Jalan, Reddy, Subbarao | "R-J-R-S", each about 5 years |
| Modern era (2013–2026) | Rajan, Urjit Patel, Das, Sanjay Malhotra | Two Patels: I G (14th) and Urjit (24th) |
Step 2: Fix the "twins". There are two Patels (I G Patel, Urjit Patel) and two Malhotras (R N Malhotra, Sanjay Malhotra). Exams use this to set traps.
Step 3: Fix four numbers. 1st = Smith, 3rd = Deshmukh (first Indian), 15th = Manmohan Singh, 26th = Sanjay Malhotra.
Common Mistakes in RBI Governor Questions
- "Current Governor is Shaktikanta Das." Wrong. Das served until 10 Dec 2024. The current Governor is Sanjay Malhotra.
- Confusing R N Malhotra and Sanjay Malhotra. R N Malhotra was the 17th Governor (1985–1990). Sanjay Malhotra is the 26th (from 2024).
- "First Governor was C D Deshmukh." Wrong. He was the first Indian Governor. The first Governor was Osborne Smith.
- "Raghuram Rajan was the 24th Governor." Wrong. Rajan was the 23rd. Urjit Patel was the 24th.
- "The RBI Governor signs the ₹1 note." Wrong. The Finance Secretary signs it.
- Mixing up longest tenures. Rama Rau (about 7.5 years) is longest; Das (6 years) is second.
RBI Governor List: Quick Revision Table for Bank Exams
| Remember | Answer |
|---|---|
| Total Governors (1935–2026) | 26 |
| 1st | Osborne Smith |
| 1st Indian | C D Deshmukh |
| 15th, later PM | Manmohan Singh |
| 23rd | Raghuram Rajan |
| 24th | Urjit R Patel |
| 25th | Shaktikanta Das |
| 26th (current) | Sanjay Malhotra, since 11-12-2024 |
| Longest | Benegal Rama Rau |
| Shortest | A Ghosh |
| From RBI cadre | M Narasimham |
| ₹1 note signed by | Finance Secretary |
RBI Governor Questions with Answers (Practice MCQs)
Q1. Who is the 26th Governor of the Reserve Bank of India? (a) Shaktikanta Das (b) Sanjay Malhotra (c) Urjit Patel (d) T Rabi Sankar Answer: (b). Sanjay Malhotra took charge as the 26th Governor on 11 December 2024.
Q2. Who was the first Indian Governor of the RBI? (a) Benegal Rama Rau (b) C D Deshmukh (c) K G Ambegaonkar (d) H V R Iengar Answer: (b). C D Deshmukh became Governor in August 1943 after James Taylor's death.
Q3. Which RBI Governor had the longest tenure? (a) Shaktikanta Das (b) Bimal Jalan (c) Benegal Rama Rau (d) R N Malhotra Answer: (c). Rama Rau served from 1 July 1949 to 14 January 1957, about 7.5 years. Das served exactly 6 years.
Q4. Which former RBI Governor later became Prime Minister of India? (a) I G Patel (b) Manmohan Singh (c) C Rangarajan (d) Y V Reddy Answer: (b). Dr Manmohan Singh was Governor from 1982 to 1985 and later Prime Minister.
Q5. The one-rupee note in India carries the signature of: (a) RBI Governor (b) Finance Minister (c) Finance Secretary (d) Deputy Governor Answer: (c). The ₹1 note is issued by the Government of India, so it carries the Finance Secretary's signature.
Q6. Which Governor was the only one appointed from the RBI's own cadre? (a) M Narasimham (b) A Ghosh (c) N C Sen Gupta (d) K R Puri Answer: (a). Narasimham joined the RBI as a Research Officer.
Q7. Who was the RBI Governor when 14 major banks were nationalised in 1969? (a) P C Bhattacharya (b) L K Jha (c) S Jagannathan (d) B N Adarkar Answer: (b). L K Jha was Governor from July 1967 to May 1970.
Q8. Arrange in correct order: (P) Urjit Patel (Q) D Subbarao (R) Raghuram Rajan (S) Shaktikanta Das (a) Q-R-P-S (b) R-Q-P-S (c) Q-P-R-S (d) P-Q-R-S Answer: (a). Subbarao (22nd) → Rajan (23rd) → Urjit Patel (24th) → Das (25th).
Q9. Which of these Governors did not sign any banknote? (a) James Taylor (b) Osborne Smith (c) Bimal Jalan (d) I G Patel Answer: (b). The RBI states that Osborne Smith (and also K G Ambegaonkar) did not sign any bank notes.
Q10. Sanjay Malhotra was serving as which of the following just before becoming RBI Governor? (a) Chief Economic Adviser (b) Secretary, Department of Revenue (c) Deputy Governor, RBI (d) Chairman, SEBI Answer: (b). He was Secretary, Department of Revenue, Ministry of Finance.
RBI Governor List FAQs
Who is the current RBI Governor in 2026? Sanjay Malhotra is the current RBI Governor. He is the 26th Governor and has held office since 11 December 2024, for a three-year term.
How many Governors has the RBI had from 1935 to 2026? 26 Governors, from Sir Osborne Smith (1935) to Sanjay Malhotra (2024 onwards). The RBI's own numbering counts the short interim Governors too.
Who was the first Governor of RBI? Sir Osborne Smith, from 1 April 1935 to 30 June 1937. He was a professional banker from Australia's banking sector and did not sign any banknote.
Who was the 25th Governor of RBI? Shaktikanta Das, from 12 December 2018 to 10 December 2024.
Which RBI Governor became the Prime Minister? Dr Manmohan Singh, who was RBI Governor from 16 September 1982 to 14 January 1985.
Who appoints the RBI Governor? The Central Government appoints the Governor under Section 8 of the RBI Act, 1934. In practice the Appointments Committee of the Cabinet approves the name.
Has any woman been RBI Governor? No. All 26 Governors so far have been men.
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Source: Reserve Bank of India, official list of Governors (rbi.org.in, "Governors" page) and RBI currency FAQs. Checked on 16 October 2026.