P. C. Bhattacharya

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Paresh Chandra Bhattacharya (born March 1, 1903)[1] was the seventh Governor of the Reserve Bank of India from 1 March 1962 to 30 June 1967.[2] Unlike his predecessors he was a member of the Indian Audits and Accounts Service (IA&AS). He served as Secretary in the Finance Ministry and later as Chairman of the State Bank of India before his appointment as the Governor.[2]

As RBI Governor he strongly opposed the nationalising of private banks in India,[3] by writing a letter to then Deputy Prime Minister Morarji Desai warning about the costs of nationalising the banks saying it was not desirable.[3] During his tenure the size of the currency notes od denomination 5, 10 and 100 were reduced in size for economic reasons.[4]

Bhattacharya's tenure saw the establishment of the Industrial Development Bank of India in 1964, the Agricultural Refinance Corporation in 1963 and the Unit Trust of India in 1964.


References[edit]

  1. ^ http://books.google.co.in/books?id=CnwYAAAAMAAJ&q=%22Bhattacharya,+Paresh+Chandra%22&dq=%22Bhattacharya,+Paresh+Chandra%22&hl=en&sa=X&ei=U3CbUtqzH4KUtQaXsYHQBw&ved=0CDIQ6AEwAQ
  2. ^ a b "P C Bhattacharya". Reserve Bank of India. Retrieved 2008-09-15. 
  3. ^ a b The Congress Split Accidental India: A History of the Nation's Passage through Crisis and Change By Shankkar Aiyar
  4. ^ P. C. Bhattacharya Bio In.com Retrieved on 23 August 2013