Former Governor of the Reserve Bank of India, S. Venkitaramanan, passed away on Saturday. He was 92.
Venkitaramanan served as the 18th Governor of the RBI, holding office from 1990 to 1992, with a tenure of two years.
He was a member of the Indian Administrative Service and had served as finance secretary and adviser to the Government of Karnataka prior to his appointment as governor.
The country faced difficulties related to the external sector during his tenure. His adroit management saw the country tide over the balance of payments crisis, the RBI said on its official website.
During his time as RBI Governor, S. Venkitaramanan oversaw significant changes in India’s economic policies. The country implemented the International Monetary Fund’s stabilisation program, the central bank said.