Ex-RBI Governor S Venkitaramanan Dies At 92

S. Venkitaramanan, the former Governor of the Reserve Bank of India (RBI), passed away at the age of 92 in Chennai on 18 November, as announced by the RBI. He is survived by two daughters, one of whom is Girija Vaidyanathan, a former Chief Secretary of Tamil Nadu. Born in Nagercoil, Travancore, Venkitaramanan served as the RBI Governor from 22 December 1990 to 21 December 1992, a period marked by a severe payments crisis in the country.

Prior to his role as Governor, Venkitaramanan held the position of Finance Secretary from 1985 to 1989 and worked as an Advisor to the Government of Karnataka. The RBI acknowledged his adept management during the external sector challenges faced by the country during his tenure as Governor. His strategic approach played a pivotal role in navigating the nation through the balance of payments crisis. Venkitaramanan's term as RBI Governor also coincided with India's adoption of the International Monetary Fund's (IMF) stabilisation programme. This period involved the devaluation of the Rupee and the initiation of economic reforms.

The RBI website highlighted Venkitaramanan's significant contributions and the critical role he played in steering the country through economic challenges during his tenure as the central bank's Governor.