New Delhi, 18 November (Tezzbuzz). Former Governor of Reserve Bank of India (RBI) S. Venkataramanan passed away this morning after a prolonged illness. He was 92 years old. S. Venkataramanan was the 18th Governor of RBI. Before becoming the Governor of the Reserve Bank, he had also been the Finance Secretary and Advisor to the Government of Karnataka.

Former RBI Governor Venkataramanan, 92, was suffering from several serious illnesses. Venkataramanan held this post from 1990 to 1992. He has also served as Finance Secretary in the Ministry of Finance from 1985 to 1989. He is survived by his two daughters Girija and Sudha. Tezzbuzz daughter Girija Vaidyanathan has been the former Chief Secretary of Tamil Nadu.

According to RBI website S. Venkataramanan faced difficulties on global fronts during his tenure. Tezzbuzz management led the country out of the balance of payments crisis. During Venkataramanan’s tenure, India adopted the IMF’s stabilization program, where the rupee was devalued and economic reform programs were initiated.

Tezzbuzz News/Prajesh Shankar/Jitendra