Former RBI Governor S Venkitaramanan passes away
Chennai, Nov 18: Former Governor of the Reserve Bank of India S Venkitaramanan passed away here on Saturday, due to brief illness, sources said.
He was 92.
Venkitaramanan was a member of the Indian Administrative Service and prior to taking up the role of RBI Governor, he had served as the Finance Secretary and later as an Adviser to the Government of Karnataka.
Venkitaramanan had served the RBI between December 1990 and December 1992.
RBI Governor Shaktikanta Das hailed him as an 'outstanding personality' and 'public servant' and recalled his immense contributions during the period of crisis.
"The country faced difficulties related to the external sector during his tenure. His adroit management saw the country tide over the balance of payments crisis," the apex bank said.
Venkitaramanan's term also saw India adopt the IMF's stabilisation programme where the Rupee underwent a devaluation and the launch of the programme of economic reforms, the RBI said in its website.
In a social media post, Das said, "Very sad to hear about the demise of Shri S Venkitaramanan, former Governor of the RBI. He was an outstanding personality and public servant. He made immense contributions during periods of crisis. May his soul rest in eternal peace."
Senior Congress leader and former Union Minister Jairam Ramesh said, "one of India's most brilliant civil servants who left his mark, especially in the field of finance, has just passed away in Chennai at the age of 92. S Venkitaramanan was RBI Governor at a most crucial time of our economic history during 1990-92."
Apart from this, Venkitaramanan had made major contributions in industrial development and energy as well, Ramesh said in a social media post.
"He (Venkitaramanan) was a key aide of C Subramaniam who played a pivotal role in ushering in the Green Revolution in the mid-60s. I have many fond memories of our association that spanned almost three decades and from which I learned much," he added.
Very sad to hear about the demise of Shri S.Venkitaramanan, former Governor of the RBI. He was an outstanding personality and public servant. Made immense contribution during periods of crisis. May his soul rest in eternal peace.
— Shaktikanta Das (@DasShaktikanta) November 18, 2023
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India distances itself from Gaurav Arya’s remarks against Iranian Foreign Minister
New Delhi: India on Saturday distanced itself from remarks made by former army officer and television personality Gaurav Arya against Iranian Foreign Minister Abbas Araghchi, after the Iranian Embassy in New Delhi objected to Arya's comments.
Arya, in a video shared online, criticised Araghchi for choosing to visit Pakistan before coming to India amid heightened tensions following the Pahalgam terror attack, which claimed 26 lives. His remarks sparked a diplomatic reaction from Iran, with its embassy in India responding strongly.
“Respect for guests has a long-standing tradition in Iranian culture,” the Iranian Embassy stated on X (formerly Twitter), while sharing the video. “We Iranians consider our guests to be beloved by God. How about you?”
Following the diplomatic protest, the Indian Embassy in Tehran issued a clarification stating that Arya is a private individual and his views do not reflect the official stance of the Indian government.
“The individual in the video is a private Indian citizen. His statements have no connection with the official position of India,” the embassy stated. “The Government of India considers the disrespectful tone used in the video to be inappropriate.”
The Iranian foreign minister had paid an unscheduled visit to Pakistan on May 5 to hold talks with its top leadership amid increasing tensions with India. He later returned to Tehran before heading to New Delhi to co-chair a bilateral Joint Commission meeting, his first visit to India since becoming Iran’s foreign minister in August 2024.
Last month, Araghchi had also offered to mediate between India and Pakistan to “forge greater understanding” following a series of cross-border incidents.
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