S Venkitaramanan: Former RBI Governor S Venkitaramanan passed away this morning at the age of 92. Venkataramanan was the 18th Governor of the RBI and served from 1990 to 1992. He has also served as Finance Secretary in the Ministry of Finance from 1985 to 1989. About his death N. S. Madhavan has expressed his grief by sharing a post on social media.
RBI has mentioned Venkataramanan’s tenure on its website.
Describing the tenure of S Venkataraman on its website, RBI said that during his tenure the country had to face difficulties on the global front. His management led the country out of the balance of payments crisis. During his tenure, India adopted the IMF’s stabilization program, where the rupee was devalued and economic reform programs were initiated.