|Born||17 January 1918
Bombay, Bombay Presidency, British India
|Died||16 May 2014
|Alma mater||Indian Institute of Technology (BHU) Varanasi|
|Occupation||Chairman of Tata Steel from 1984–1993|
|Spouse(s)||Siloo Russi Mody|
|Parent(s)||Sir Homi Mody and Lady Jerbhai|
Russi was born on 17 January 1918 in Bombay (now Mumbai) to a Parsi family. His father was Sir Homi Mody. His mother was Lady Jerbai Mody née Dubash. Russi had two brothers, Kali Homi Mody and Piloo Mody. 
After a few years of schooling in India, he was sent to England for further studies. He studied at St Cyprian's School, Harrow School and later at Christ Church College, Oxford. On his return to India he joined Tata Steel as an office assistant. Russi was married to Siloo Mugaseth, the daughter of his mother's sister, and lived in Kolkata until his death.
Mody joined Tata Steel in 1939 and he was promoted to the position of Director of Personnel in 1953. He took up the position of the Director of Raw Materials in 1965. In 1970, he was appointed as Director of Operations and became Joint Managing Director in 1972.
Hearsay has it that Russi Mody was pulled up by a policeman as he tried to park his car on the narrow road. Admonished with "Tumhara baap ka rasta hain kya?" ("Does this road belong to your father?") the young scion pointed in good humour to the road sign indeed printed with the distinguished paternal name.
Once, Sir Jehangir Ghandy was scheduled to come to Calcutta on a Wednesday afternoon when he would normally play tennis. In his diary lying on the table, he wrote, “TPT CSC meeting on Wednesday at 3 pm,” and told his secretaries to take Sir Jehangir to his room, show him the diary and say that Russi had gone to the meeting. True enough, Sir Jehangir came and was shown the diary. He nodded knowledgeably and walked away. Little did he know that TPT CSC was an abbreviation of “To Play Tennis at Calcutta South Club”.
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