Sarukkai Jagannathan (18 May 1914 – 1996) was the tenth Governor of the

Reserve Bank of India The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for ...

from 16 June 1970 to 19 May 1975. Educated at the

Presidency College, Madras Presidency College is an art, commerce, and science college in the city of Chennai in Tamil Nadu, India. On 16 October 1840, this school was established as the Madras Preparatory School before being repurposed as a high school, and then a gra ...

, Jagannathan was a member of the Indian Civil Service, and had served with the Central Government. Prior to becoming the Governor of the RBI, he was India's Executive Director at the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

. The oil shock of the 1970s was re-elected by a very active monetary policy during his tenure. Other achievement include an expansion of banking offices in pursuance of the objectives of the nationalisation of private banks. The Credit Guarantee Corporation of India, and State Level Bankers' Committees were established during his tenure.

Indian Rupee The Indian rupee ( symbol: ₹; code: INR) is the official currency in the republic of India. The rupee is subdivided into 100 ''paise'' (singular: ''paisa''), though as of 2022, coins of denomination of 1 rupee are the lowest value in use wh ...

notes of

20 and

50 denomination were introduced, and these had his signature. He relinquished office to take up the post of the India's Executive Director at the

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...

References

Governors of the Reserve Bank of India Indian bankers Indian civil servants Indian Civil Service (British India) officers 1996 deaths 1914 births Presidency College, Chennai alumni University of Madras alumni {{India-business-bio-stub