Who is the only Prime Minister to have served as the Governor of RBI?

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  1. P.V. Narsimha Rao
  2. Manmohan Singh
  3. Lal Bahadur Shastri
  4. Indira Gandhi

Answer (Detailed Solution Below)

Option 2 : Manmohan Singh
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Detailed Solution

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The correct answer is option 2 i.e Manmohan Singh.

  • Manmohan Singh is the only Prime Minister to have also served as the Governor of RBI.
  • He was the Governor of RBI from 1982-1985.


Facts to remember about RBI:

  • The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
  • The Central Office of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated.
  • Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.
  • The Reserve Bank of India (RBI) is India's central bank, which controls the issue and supply of the Indian rupee.
  • RBI is the regulator of the entire Banking in India.
  • Shaktikanta Das is the current governor of RBI.
  • RBI's headquarters are in Mumbai. The RBI has four zonal offices at Chennai, Delhi, Kolkata and Mumbai.

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