Bimal Jalan
Encyclopedia
Bimal Jalan is a former Governor of India's Reserve Bank and
a nominated member of the Upper House of India's Parliament, the Rajya Sabha
during 2003-2009.
, Calcutta, and later was at Cambridge
and Oxford.
A leading economic bureaucrat, Jalan held several administrative and advisory positions in the Government of India. He was the Chief Economic Adviser in the 1980s, Banking Secretary between 1985 and 1989 and Finance Secretary
, Ministry of Finance. As Finance Secretary, he was also on the Central Board of Directors of the Reserve Bank of India. He has also been the Chairman of the Economic Advisory Council to the Prime Minister
between January 1991 and September 1992. Jalan has served as the Executive Director representing India on the Boards of the International Monetary Fund
and the World Bank
. At the time of his appointment as the Governor of the Reserve Bank, Jalan was the Member-Secretary, Planning Commission in New Delhi
.
He was the Governor
of Reserve Bank of India
for two terms. The Government of India
reappointed Jalan as Governor of the Reserve Bank of India, first for a period of two years commencing November 22, 2000 to November 21, 2002 and again for a further period of two years commencing from November 22, 2002 and ending November 21, 2004. He was succeeded by Y. Venugopal Reddy on September 6, 2003. During his tenure the Indian Rupee
note of 1000 denomination was introduced.
a nominated member of the Upper House of India's Parliament, the Rajya Sabha
Rajya Sabha
The Rajya Sabha or Council of States is the upper house of the Parliament of India. Rajya means "state," and Sabha means "assembly hall" in Sanskrit. Membership is limited to 250 members, 12 of whom are chosen by the President of India for their expertise in specific fields of art, literature,...
during 2003-2009.
Education and career
Jalan graduated from Presidency CollegePresidency College, Kolkata
Presidency University, Kolkata, formerly Hindu College and Presidency College, is a unitary, state aided university, located in Kolkata, West Bengal. and one of the premier institutes of learning of liberal arts and sciences in India. In 2002 it was ranked number one by the weekly news magazine...
, Calcutta, and later was at Cambridge
University of Cambridge
The University of Cambridge is a public research university located in Cambridge, United Kingdom. It is the second-oldest university in both the United Kingdom and the English-speaking world , and the seventh-oldest globally...
and Oxford.
A leading economic bureaucrat, Jalan held several administrative and advisory positions in the Government of India. He was the Chief Economic Adviser in the 1980s, Banking Secretary between 1985 and 1989 and Finance Secretary
Finance Secretary
R.S GUjaral is finance secretary of India .In India, the Permanent Secretary - level civil serBy default, the FS tends to be the seniormost of the five, where seniority is defined by the year of entry into the civil service and not age...
, Ministry of Finance. As Finance Secretary, he was also on the Central Board of Directors of the Reserve Bank of India. He has also been the Chairman of the Economic Advisory Council to the Prime Minister
Prime minister
A prime minister is the most senior minister of cabinet in the executive branch of government in a parliamentary system. In many systems, the prime minister selects and may dismiss other members of the cabinet, and allocates posts to members within the government. In most systems, the prime...
between January 1991 and September 1992. Jalan has served as the Executive Director representing India on the Boards of the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
and the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
. At the time of his appointment as the Governor of the Reserve Bank, Jalan was the Member-Secretary, Planning Commission in New Delhi
New Delhi
New Delhi is the capital city of India. It serves as the centre of the Government of India and the Government of the National Capital Territory of Delhi. New Delhi is situated within the metropolis of Delhi. It is one of the nine districts of Delhi Union Territory. The total area of the city is...
.
He was the Governor
Governor
A governor is a governing official, usually the executive of a non-sovereign level of government, ranking under the head of state...
of Reserve Bank of India
Reserve Bank of India
The Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
for two terms. The Government of India
Government of India
The Government of India, officially known as the Union Government, and also known as the Central Government, was established by the Constitution of India, and is the governing authority of the union of 28 states and seven union territories, collectively called the Republic of India...
reappointed Jalan as Governor of the Reserve Bank of India, first for a period of two years commencing November 22, 2000 to November 21, 2002 and again for a further period of two years commencing from November 22, 2002 and ending November 21, 2004. He was succeeded by Y. Venugopal Reddy on September 6, 2003. During his tenure the Indian Rupee
Indian rupee
The Indian rupee is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India....
note of 1000 denomination was introduced.