Harun Rashid Khan
Harun Rashid Khan | |
|---|---|
| Born | 1955 Odisha, India |
| Occupation | Banker |
| Years active | 1978–2016 |
| Known for | Deputy Governor of the Reserve Bank of India (2011–2016) |
Harun Rashid Khan held the position of Deputy Governor at the Reserve Bank of India from 2011 until 2016.
Early life and education
Khan completed his secondary education at Badagada Highschool in Bhubaneswar, where he distinguished himself in English debate and elocution competitions. He graduated as the top student in Political Science from BJB College, Bhubaneswar, and pursued a Master's degree at Utkal University. Subsequently, he earned an M.Phil. from the School of International Studies at Jawaharlal Nehru University.
Career in RBI
Beginning his tenure with the Reserve Bank of India in 1978, Khan undertook several significant responsibilities such as serving as Director of Bank of Maharashtra and Punjab and Sind Bank during 2007–2008. He also acted as Executive Director at RBI and was a Director at NABARD. Additionally, he was Principal of RBI's College of Agricultural Banking located in Pune and served as Regional Director for RBI in New Delhi. His appointment as Deputy Governor came in July 2011, where his key areas included managing internal debt, overseeing external investments, and regulating exchange control.
Outstanding achievement
Khan led the RBI Internal Group on Rural Credit and Microfinance, commonly referred to as the Khan Committee. The group's proposals resulted in RBI guidelines that broadened banking services through the introduction of Business Facilitator and Business Correspondent frameworks supported by ICT, playing a pivotal role in enhancing financial inclusion across India.
He subsequently chaired the "Working Group on Development of Corporate Bond Market in India". The "Khan Committee Report" produced by this group tackled fundamental obstacles limiting the expansion of a robust corporate bond market within the country.
Important assignments
- Chairperson, RBI Internal Group on Rural Credit & Micro-finance
- Member Secretary, Committee on Ways and Means Advances for State Governments
- Convenor, Working Group on Instruments of Sterilisation
- Convenor, Working Group on Model Fiscal Responsibility & Budget Management Bill for States
- Member, G-20 Working Group focused on "Reinforcing International Cooperation & Market Integrity"
- Member, BIS Committee addressing the "Global Financial System"
- Member, International Task Force concerning Central Counterparties
Speeches & Writings
- IT Governance and IT Strategy: Boards' Eye View
- Financing Strategies for Urban Infrastructure: Trends and Challenges (RBI Bulletin, August 2013)
- Challenges and concerns of the central bank - opportunities and role for the commercial banks (BIS Publications)
- Promoting Retail Investor Participation in Government Bonds (8th Annual National Conference on Capital Markets, January 2013)
- Understanding Psychology through Responsible Financial Behaviour (Maharishi Dayanand College, February 2012)
- The Shrinking Money & RBI's Economic Policy (National Management Seminar, December 2011)