Published Nov 18, 2023 | 10:19 PM ⚊ Updated Nov 18, 2023 | 10:19 PM
S Venkitaramanan. (X)
Former Governor of the Reserve Bank of India (RBI) S Venkitaramanan passed away in Chennai on Saturday, 18 November, due to a brief illness, sources said.
He was 92.
Venkitaramanan was a member of the Indian Administrative Service and prior to taking up the role of RBI Governor, he had served as the finance secretary and, later, as an advisor to the Government of Karnataka.
He served as finance secretary in the Ministry of Finance for a period of four years from 1985 to 1989.
Venkitaramanan had served the RBI between December 1990 and December 1992.
Venkitaramanan’s term also saw India adopt the IMF’s stabilisation programme where the rupee underwent a devaluation and the launch of the programme of economic reforms, the RBI said on its website.
RBI Governor Shaktikanta Das hailed him as an “outstanding personality” and “public servant” and recalled his immense contributions during the period of crisis.
“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 apex bank said.
In a social media post, Das said, “Very sad to hear about the demise of Shri S Venkitaramanan, former Governor of the RBI. He was an outstanding personality and public servant. He made immense contributions during periods of crisis. May his soul rest in eternal peace.”
Very sad to hear about the demise of Shri S.Venkitaramanan, former Governor of the RBI. He was an outstanding personality and public servant. Made immense contribution during periods of crisis. May his soul rest in eternal peace.
— Shaktikanta Das (@DasShaktikanta) November 18, 2023
Tamil Nadu Chief Minister MK Stalin expressed condolences on the passing of the former RBI governor.
“இந்திய ரிசர்வ் வங்கியின் முன்னாள் ஆளுநர்
திரு. எஸ். வெங்கிடரமணன் (92) அவர்கள் உடல்நலக்குறைவு காரணமாக மறைந்தார் என்றறிந்து வருத்தமடைந்தேன்.அவரை இழந்து தவிக்கும் அவரது குடும்பத்தினருக்கு எனது ஆழ்ந்த இரங்கல்” என மாண்புமிகு முதலமைச்சர் @mkstalin அவர்கள் தெரிவித்துள்ளார். pic.twitter.com/XGUoiAVhid
— CMOTamilNadu (@CMOTamilnadu) November 18, 2023
Senior Congress leader and former Union Minister Jairam Ramesh said, “One of India’s most brilliant civil servants who left his mark, especially in the field of finance, has just passed away in Chennai at the age of 92. S Venkitaramanan was RBI Governor at a most crucial time of our economic history during 1990-92.”
Apart from this, Venkitaramanan had made major contributions in industrial development and energy as well, Ramesh said in a social media post.
“He (Venkitaramanan) was a key aide of C Subramaniam who played a pivotal role in ushering in the Green Revolution in the mid-60s. I have many fond memories of our association that spanned almost three decades and from which I learned much,” he added.
One of India’s most brilliant civil servants who left his mark, especially in the field of finance, has just passed away in Chennai at the age of 92. S. Venkitaramanan was RBI Governor at a most crucial time of our economic history during 1990-92.
Apart from this he made major…
— Jairam Ramesh (@Jairam_Ramesh) November 18, 2023
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