M. Narasimham

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Maidavolu Narasimham (3 June 1927 – 20 April 2021) was an Indian banker who served as the thirteenth Governor of the Reserve Bank of India (RBI) from 2 May 1977 to 30 November 1977. For his contributions to the banking and financial sector in India, he is often referred to as the father of banking reforms in India. Some of the reforms attributed to his recommendations include changes to banking structures, introduction of private sector banks, creation of asset recovery funds, rural banking, changes to capital adequacy and provisioning standards, technology upgradation and modernization of public sector banks, and capital market linked banking reforms. Narasimham also served as India's executive director at the World Bank and later at the International Monetary Fund and the Asian Development Bank. He served as the secretary in the Ministry of Finance, and as the additional secretary of the Department of Economic Affairs as well. He was awarded India's second highest civilian honour, the Padma Vibhushan, in 2000.