P. C. Bhattacharya
Paresh Chandra Bhattacharya | |
|---|---|
| Born | Template:Birth date |
| Died | February 13, 1969 (aged 65) |
| Occupation(s) | Banker, Civil servant |
| Known for | Seventh Governor of the Reserve Bank of India |
Paresh Chandra Bhattacharya OBE (1 March 1903 – 13 February 1969) served as the seventh Governor of the Reserve Bank of India from 1 March 1962 until 30 June 1967. Distinct from those before him, he hailed from the Indian Audits and Accounts Service (IA&AS). Honored as an Officer of the Order of the British Empire (OBE) in 1946, Bhattacharya held key positions including Secretary in the Finance Ministry and subsequently Chairman of the State Bank of India prior to his appointment as RBI Governor.
During his governorship, Bhattacharya voiced opposition to the nationalisation of private banks in India, warning Deputy Prime Minister Morarji Desai about the possible financial repercussions. His administration implemented austerity measures such as downsizing ₹5, ₹10, and ₹100 currency notes.
Notable institutional milestones under his leadership included the founding of the Industrial Development Bank of India in 1964, the Agricultural Refinance Corporation in 1963, and the Unit Trust of India in 1964.
Currency notes bearing Bhattacharya’s signature are considered scarce and highly valued among collectors; for instance, a ₹10 note can command prices ranging from ₹800 to ₹1,000 due to their smaller dimensions and limited issuance.