List of Governors of RBI from 1935-2025, Tenures, Other Details

The Central Bank of India also known as the Reserve Bank of India is responsible for governing the monetary policies of India. Under the RBI Act, of 1934, the Reserve Bank of India was established on 1st April 1935, under the “Hilton – Young Commission” recommendation. During its establishment, the RBI was set up as a private bank and was later nationalized on 1st January 1949 after the independence.

The headquarters was situated in Kolkata during the foundation of RBI but eventually transferred to Mumbai in 1937. The Governor is the head of RBI which the Government Of India appoints. Till today, there have been 25 Governors of RBI. Osborne Smith was the First Governor of RBI in 1935 and Sanjay Malhotra is the Current Governor of RBI holding the office since December 12, 2024.

List of Governors of RBI from 1935-2025

The Governor of RBI is the CEO of the Central Bank of India and the Ex-officio Chairman of the Central Board of Directors. The Reserve Bank of India (RBI) issues the Indian note bearing the signature of the Governor of the Reserve Bank of India. The Government of India appoints the Governors of RBI for a term of three years and can be re-elected for the position. Below is the table we have shared the List of Governors of RBI from 1935-2025:

First Governor of RBI

Sir Osborne Smith was appointed as the First RBI Governor of India. As a professional banker he worked at the Bank of New South Wales for 2 decades and in the Commonwealth Bank of Australia for another decade. He became the Managing Governor at the Imperial Bank of India when he returned back to India and left a great impression. 

His leadership of the Imperial Bank earned him significant recognition within Indian banking circles. However, his policy perspectives on issues such as exchange rates and interest rates often diverged from those of the Government. As a result, he resigned before completing his three-and-a-half-year term. Notably, Sir Osborne did not sign any banknotes during his tenure.

Current Governor of RBI

Sanjay Malhotra is an IAS Officer, belonging to the 1990 Rajasthan Cadre. Presently serving as the 26th Governor of RBI. He has played an important role in shaping India’s finances. He holds a CS degree from IIT Kanpur and Master’s in Public Policy from Princeton University, USA.

Governor of RBI Eligibility Criteria

The position of RBI Governor is offered to civil servants names like C. D. Deshmukh and Bengal Rama Rao. Over a while, the Governor of RBI Eligibility Criteria elaborated, allowing candidates with diverse backgrounds to be considered. Anyone holding a graduate or postgraduate degree, or qualifications can aspire to become the Governor of RBI.

To be eligible to be a RBI Governor, the following eligibility criteria has to be met: 

1. Has to be a citizen of India.
2. Should be in the age group between 40 to 60 years.
3. Should have at least 20 years of working experience in a banking, finance, economics or related sector. 
4. Should have held a senior position in a banking or financial institution. 
5. Should not be connected or associated with any political party or organisation. 

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