Who is the present governor of the Reserve Bank of India?(2018)
Urjit Patel
Understanding the Reserve Bank of India Governor in 2018
The question asks about the individual serving as the Governor of the Reserve Bank of India (RBI) during the year 2018. The RBI is India's central bank and performs crucial functions like regulating the monetary policy and supervising the financial system. The Governor is the chief executive of the RBI and plays a significant role in the country's economic management.
Let's examine the given options and determine who held this important position in 2018:
- Manmohan Singh: While Dr. Manmohan Singh is a renowned economist and served as the Governor of the RBI much earlier (from 1982 to 1985) and later as the Prime Minister of India, he was not the RBI Governor in 2018.
- Raghuram Rajan: Dr. Raghuram Rajan is also a distinguished economist who served as the RBI Governor before 2018. His tenure was from September 2013 to September 2016. Therefore, he was not the Governor in 2018.
- Urjit Patel: Dr. Urjit Patel succeeded Raghuram Rajan. He took office as the Governor of the RBI in September 2016 and served until his resignation in December 2018. Since his tenure covered almost the entirety of 2018, he was the RBI Governor during that period.
- Arvind Subramanian: Dr. Arvind Subramanian is an economist who served as the Chief Economic Advisor to the Government of India, not the Governor of the RBI.
Based on the tenures of these individuals, Dr. Urjit Patel was the person serving as the Governor of the Reserve Bank of India for the majority of 2018.
| Name | Relevant Position | Tenure (if RBI Governor) | Was in position in 2018? |
|---|---|---|---|
| Manmohan Singh | Former RBI Governor, Former PM | 1982-1985 | No |
| Raghuram Rajan | Former RBI Governor | 2013-2016 | No |
| Urjit Patel | RBI Governor | 2016-2018 | Yes |
| Arvind Subramanian | Former Chief Economic Advisor | N/A | No (not RBI Governor) |
Therefore, in 2018, the Governor of the Reserve Bank of India was Urjit Patel.
Revision Table: Key RBI Governor Facts
| RBI Governor | Start Date | End Date |
|---|---|---|
| Raghuram Rajan | September 4, 2013 | September 4, 2016 |
| Urjit Patel | September 4, 2016 | December 10, 2018 |
| Shaktikanta Das | December 12, 2018 | Present |
Additional Information on RBI and Governor Role
The Reserve Bank of India was established on April 1, 1935, under the Reserve Bank of India Act, 1934. It is the central bank of the country responsible for issuing currency, managing foreign exchange, and ensuring monetary stability.
The Governor of the RBI is appointed by the Central Government of India. The Governor heads the Central Board of Directors of the RBI and is responsible for the overall administration and policy decisions of the bank. The role is critical for maintaining the health and stability of the Indian economy.
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