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This story is from November 19, 2023

Venkitaramanan, who steered RBI during 1991 crisis, passes away at 92

S Venkitaramanan, the former governor of the Reserve Bank of India (RBI), has passed away at the age of 92. Prior to his role as RBI governor, he served as the finance secretary and an advisor to the government of Karnataka. Venkitaramanan's tenure as governor saw significant developments, including the adoption of the IMF's stabilisation program and the launch of economic reforms in India. Tamil Nadu chief minister M K Stalin, RBI governor Shaktikanta Das, and senior Congress leader Jairam Ramesh have offered their condolences.
Venkitaramanan, who steered RBI during 1991 crisis, passes away at 92
CHENNAI: Former governor of the RBI S Venkitaramanan passed away in Chennai on Saturday, due to a brief illness. 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 adviser to the government of Karnataka.
Venkitaramanan had served RBI between December 1990 and December 1992.
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Tamil Nadu chief minister M K Stalin, RBI governor Shaktikanta Das and senior Congress leader Jairam Ramesh offered their condolences to the bereaved family members.
“I am saddened to learn about the demise of Venkitaramanan. He served as the 18th governor of the Reserve Bank of India and also as the Union finance secretary and has earned respect for his efficient service.” Stalin said.
"I extend my deep condolences to his family, his daughter and former Chief Secretary Girija Vaidyanathan," he added.
RBI Governor Shaktikanta Das hailed Venkitaramanan as an 'outstanding personality' and 'public servant' and recalled his immense contributions during the period of crisis.
Venkitaramanan's term also saw India adopt IMF's stabilisation programme where the Rupee underwent a devaluation and the launch of the programme of economic reforms, the RBI said in its website.
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