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Lakshmi Kant Jha,
2, 5, 10, and 100, commemorating the birth centenary of Mahatma Gandhi were released on 2 October 1969, these notes bear his signature, both in English and Hindi. The signature in Hindi, the official language of the Government of India, appeared on the currency notes for the first time during his stewardship of the RBI. A subsequent re-issue on this series notes bears the signature of B. N. Adarkar. His tenure also saw nationalization of 14 major commercial banks, introduction of social controls over commercial banks, establishment of National Credit Council, and the introduction of Lead Bank Scheme to facilitate credit delivery. Amongst other developments, gold controls were brought on a statutory basis; Deposit Insurance was in principle extended to Cooperative banks; and the setting up of the Agricultural Credit Board was undertaken.
He served as India's ambassador to the United States during the crucial period 1970–73 when India fought a war with Pakistan and liberated Bangladesh. Kissinger has acknowledged his persuasive diplomatic skills in the book ''White House Years''. Jha authored a few books including ''Mr. Red Tape'' and ''Economic Strategy for the 80s: Priorities for the Seventh Plan''. He was governor of
{{DEFAULTSORT:Jha, Lakshmi Kant Governors of the Reserve Bank of India Indian bankers Indian civil servants Ambassadors of India to the United States Governors of Jammu and Kashmir Indian Members of the Order of the British Empire Indian Civil Service (British India) officers 1913 births 1988 deaths People from Bhagalpur Rajya Sabha members from Bihar
MBE Mbe may refer to:
* Mbé, a town in the Republic of the Congo
* Mbe Mountains Community Forest, in Nigeria
* Mbe language, a language of Nigeria
* Mbe' language, language of Cameroon
* ''mbe'', ISO 639 code for the extinct Molala language
Molal ...
(22 November 1913 – 16 January 1988), born in Darbhanga district
Darbhanga district is one of the thirty-eight districts of Bihar state in eastern India, and Darbhanga city is the administrative headquarters of this district and 5th largest city of Bihar as well. Darbhanga district is a part of Darbhanga D ...
, Bihar was the eighth Governor of the Reserve Bank of India from 1 July 1967 to 3 May 1970.
Education and career
Lakshmi Kant Jha was born into aMaithil Brahmin
Maithil Brahmins are a Hindu Brahmin community from the Mithila region of the Indian subcontinent that comprises Tirhut, Darbhanga, Kosi, Purnia, Munger, Bhagalpur; Bokaro in Jharkhand and Santhal Pargana divisions of India and some adjoining ...
family in Darbhanga
Darbhanga is the fifth-largest city and municipal corporation in the Indian state of Bihar situated centrally in Mithila region.
Darbhanga is the headquarters of the Darbhanga district and the Darbhanga division. It was the seat of the erstw ...
, Bihar. He was a member of the 1936 batch of the Indian Civil Service. He was educated at Benares Hindu University (BHU), Trinity College, Cambridge University
Trinity College is a constituent college of the University of Cambridge. Founded in 1546 by King Henry VIII, Trinity is one of the largest Cambridge colleges, with the largest financial endowment of any college at either Cambridge or Oxford. T ...
, and London School of Economics. He studied economics at Cambridge when Keynes was teaching there. Jha was taught by another eminent teacher Harold Laski at the LSE. Jha rose to be a Deputy Secretary in the Department of Supply, during British rule and was appointed an MBE for his service in the 1946 New Year Honours
The 1946 New Year Honours were appointments by many of the Commonwealth Realms of King George VI to various orders and honours to reward and highlight good works by citizens of those countries, and to celebrate the passing of 1945 and the beginnin ...
. After Independence he had served as secretary in the Ministries of Industries, Commerce and Finance and Secretary to the Prime Minister of India, Lal Bahadur Shastri (1964–66) and Indira Gandhi
Indira Priyadarshini Gandhi (; Given name, ''née'' Nehru; 19 November 1917 – 31 October 1984) was an Indian politician and a central figure of the Indian National Congress. She was elected as third prime minister of India in 1966 ...
(1966–67) prior to his appointment as Governor of RBI.
Major works and achievements
During his tenure the Indian Rupee notes of denominations of 2, 5, 10, and 100, commemorating the birth centenary of Mahatma Gandhi were released on 2 October 1969, these notes bear his signature, both in English and Hindi. The signature in Hindi, the official language of the Government of India, appeared on the currency notes for the first time during his stewardship of the RBI. A subsequent re-issue on this series notes bears the signature of B. N. Adarkar. His tenure also saw nationalization of 14 major commercial banks, introduction of social controls over commercial banks, establishment of National Credit Council, and the introduction of Lead Bank Scheme to facilitate credit delivery. Amongst other developments, gold controls were brought on a statutory basis; Deposit Insurance was in principle extended to Cooperative banks; and the setting up of the Agricultural Credit Board was undertaken.
He served as India's ambassador to the United States during the crucial period 1970–73 when India fought a war with Pakistan and liberated Bangladesh. Kissinger has acknowledged his persuasive diplomatic skills in the book ''White House Years''. Jha authored a few books including ''Mr. Red Tape'' and ''Economic Strategy for the 80s: Priorities for the Seventh Plan''. He was governor of Jammu and Kashmir Jammu and Kashmir may refer to:
* Kashmir, the northernmost geographical region of the Indian subcontinent
* Jammu and Kashmir (union territory), a region administered by India as a union territory
* Jammu and Kashmir (state), a region administered ...
state from 3 July 1973 to 22 February 1981.His role as an impartial Head of State is still remembered with affection and respect in J&K. He was a member of the Brandt Commission during the 1980s on the North -South economic issues . He was chairman of the Economic Administration Reforms Commission of the Govt. of India from 1981–88. He also served as the adviser on economic matters to the P.M. Indira Gandhi and later to the P.M. Rajiv Gandhi. At the time of his death, Jha was a member of the Rajya Sabha. In 1990, the RBI instituted the L.K. Jha Memorial Lectures in commemoration of his memory.
References
External links
{{DEFAULTSORT:Jha, Lakshmi Kant Governors of the Reserve Bank of India Indian bankers Indian civil servants Ambassadors of India to the United States Governors of Jammu and Kashmir Indian Members of the Order of the British Empire Indian Civil Service (British India) officers 1913 births 1988 deaths People from Bhagalpur Rajya Sabha members from Bihar