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All Those Indian Currency Notes Dr Manmohan Singh Signed As RBI Governor

As the 15th Governor of the Reserve Bank of India (RBI), he played a pivotal role in transforming India's banking sector from September 16, 1982, to January 14, 1985.

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Dr. Manmohan Singh is indeed a unique figure in Indian history with his signature appearing on both the Rs 1 note as Finance Secretary and all other notes as RBI Governor. Here are some of the reforms and unique achievements he made during his tenure as RBI Governor.

As the 15th Governor of the Reserve Bank of India (RBI), he played a pivotal role in transforming India’s banking sector from September 16, 1982, to January 14, 1985.

During his tenure, he introduced comprehensive legal reforms including a new chapter in the Reserve Bank of India Act and the establishment of the Urban Banks Department. 

These reforms laid the foundation for modern monetary policymaking, consistent with high growth and economic stability.

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Singh’s leadership ensured that bank loans provided the necessary stimulus to vital sectors of the economy without fueling inflationary expectations.

He had talked about the importance of banks meeting their credit demands from their own resources. To boost rural development, Manmohan Singh focused on ensuring the availability of credit to underserved areas further paving the way for inclusive growth.

As RBI Governor, Singh’s signature appeared on all currency notes, except the Rs 1 note, which he signed as Finance Secretary.


After his tenure as RBI Governor, Singh went on to become the Deputy Chairman of the Planning Commission and later the Finance Minister where he played a crucial role in introducing economic reforms in the country.

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As Finance Minister, he liberalized the Indian economy, allowing it to speed up development dramatically. His government’s policies led to an 8-9% economic growth rate which made India the second-fastest-growing major economy in the world.


Today, while talking to ET Now, on the topic, What Contribution Did Manmohan Singh Made In The Banking Space, Rajnish Kumar, former SBI chairman, who is also a renowned economist, praised Singh’s role in banking reforms, liberalization and strengthening financial institutions which led to greater stability and growth.

He said that Singh had a market-oriented approach and had done groundwork for sustained growth and he paved the way for a growth rate of 7.7% during his tenure.

 

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dr manmohan singh Indian rupee manmohan singh Manmohan Singh as RBI Governor

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