P. C. Bhattacharya

Paresh Chandra Bhattacharya OBE (born 1 March 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 was appointed an Officer of the Order of the British Empire (OBE) in the 1946 New Year Honours.[3] He served as Secretary in the Finance Ministry and later as Chairman of State Bank of India before his appointment as the Governor.[2]

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

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

  1. ↑ https://books.google.com/books?id=CnwYAAAAMAAJ&q=%22Bhattacharya,+Paresh+Chandra%22&dq=%22Bhattacharya,+Paresh+Chandra%22&hl=en&sa=X&ei=U3CbUtqzH4KUtQaXsYHQBw&ved=0CDIQ6AEwAQ
  2. 1 2 "P C Bhattacharya". Reserve Bank of India. Retrieved 2008-09-15.
  3. ↑ "No. 37598". The London Gazette (Supplement). 4 June 1946. p. 2789.
  4. 1 2 The Congress Split Accidental India: A History of the Nation's Passage through Crisis and Change By Shankkar Aiyar
  5. ↑ P. C. Bhattacharya Bio In.com Retrieved on 23 August 2013
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