Who was the first Indian Governor of RBI?

a. C. D. Deshmukh

b. Benegal Rama Rau

c. R. K. Shanmukham Chetty

d. K. G. Ambegaokar

ANSWER: C. D. Deshmukh

Explanation:

Sir Chintaman Dwarakanath Deshmukh was the first Indian to be appointed as the Governor of the Reserve Bank of India in 1943 by the British Raj authorities.

He helped the smooth transition of the Bank from a shareholder's institution to a State owned organization, when the Bank was nationalized on 1st January 1949.

He subsequently served as the Finance Minister in the Union Cabinet (1950–1956).

As Governor, Deshmukh helped establish the Industrial Finance Corporation and focused on the promotion of rural credit.