M. Narasimham

M. Narasimham
13th Governor of Reserve Bank of India
In office
2 May 1977 – 30 November 1977
Preceded byK. R. Puri
Succeeded byI. G. Patel
Personal details
Born
Maidavolu Narasimham

3 June 1927 (1927-06-03)
Nellore, Madras Presidency, British India (present-day Andhra Pradesh, India)[1]
Died20 April 2021 (2021-04-21) (aged 93)
Hyderabad, Telangana, India
Children1
In this Indian name, the toponymic surname is Maidavolu. It is not a family name, and the person should be referred to by the given name, Vijayan.

Maidavolu Narasimham (3 June 1927 – 20 April 2021) was an Indian banker who served as the thirteenth governor of the Reserve Bank of India (RBI) from 2 May 1977 to 30 November 1977.[2] For his contributions to the banking and financial sector in India, he is often referred to as the father of banking reforms in India.[3][4] Some of the reforms attributed to his recommendations include changes to banking structures, introduction of private sector banks, creation of asset recovery funds, rural banking, changes to capital adequacy and provisioning standards, technology upgradation and modernization of public sector banks, and capital market linked banking reforms.

Narasimham also served as India's executive director at the World Bank and later at the International Monetary Fund and the Asian Development Bank.[4] He served as the secretary in the Ministry of Finance, and as the additional secretary of the Department of Economic Affairs as well. He was awarded India's second highest civilian honor Padma Vibhushan in 2000.

  1. ^ "M Narasimham, Father of Indian Banking Reforms, Is No More". Dr B Yerram Raju. Money Life. 21 April 2021. Retrieved 22 April 2021.
  2. ^ "M Narasimham". Reserve Bank of India. Archived from the original on 16 September 2008. Retrieved 15 September 2008.
  3. ^ "M Narasimham, who passed away Tuesday, was father of banking reforms". The Indian Express. 21 April 2021. Retrieved 21 April 2021.
  4. ^ a b "M Narasimham Was The Doyen Of Banking Reforms In India". Moneycontrol. 21 April 2021. Retrieved 21 April 2021.