R.N. MALHOTRA

February 04, 1985 to December 21, 1990

RN Malhotra Succeeded Mr A Ghosh as the 17th Governor of Reserve Bank of India. He was a member of the Indian Administrative Service. He had served as Secretary, Finance, and as Executive Director of the IMF before his appointment as Governor of Reserve Bank. During his tenure, efforts were made to develop money markets and new instruments were introduced. The Discount and Finance House of India, and the National Housing Bank were set up and the Indira Gandhi Institute of Development Research Inaugurated. During his tenure Rs 500 note was introduced. He subsequently headed a pioneering committee on insurance sector reforms.

References:

http://en.wikipedia.org/wiki/

http://www.rbi.org.in/