Chintāman Dwārakānāth Deshmukh (January 14, 1896 - October 2, 1982), better known as C. Year 1896 ( MDCCCXCVI) was a Leap year starting on Wednesday (link will display the full calendar of the Gregorian Calendar (or a Leap year Year 1982 ( MCMLXXXII) was a Common year starting on Friday (link displays the 1982 Gregorian calendar) D. Deshmukh, was the first Indian[1] to be appointed as the Governor of the Reserve Bank of India in 1943 by the British Raj authorities. The Reserve Bank of India (RBI भारतीय रिज़र्व बैंक is the Central bank of India, and was established on April For usage see British rule in India British Raj ( rāj, lit "reign" in Hindustani) primarily refers to the British He subsequently served as the Finance Minister in the Union Cabinet (1950 -1956). The Finance Minister of India is a Cabinet position in the Government of India. The Cabinet of ministers of the Government of India led by the Prime Minister of India is referred to as the Union Cabinet in India.
Deshmukh received his education at Jesus College, Cambridge, England in the field of Natural Sciences. Jesus College in the University of Cambridge was founded in 1496 on the site of a Benedictine nunnery by John Alcock, then Bishop of Ely. England is a Country which is part of the United Kingdom. Its inhabitants account for more than 83% of the total UK population whilst its mainland In Science, the term natural science refers to a naturalistic approach to the study of the Universe, which is understood as obeying rules or law of He was married to freedom fighter and activist, Durgabai Deshmukh. Durgābāi Deshmukh (July 15 1909 - May 9 1981 was a follower of Mahatma Gandhi in India's struggle for freedom from the British
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Civil service career
Deshmukh joined the Indian Civil Services, and became associated with the Reserve Bank of India since 1939 as its liaison officer to the Government. The Indian Civil Service, popularly known by its acronym ICS, originated as the elite Civil service of the Indian Government under British colonial He then consecutively served as the Bank's Secretary, Deputy Governor (1941 - 43), and Governor (1943 - 50).
Bretton Woods Conference
Deshmukh represented India at the Bretton Woods Conference in July 1 - July 22, 1944. The United Nations Monetary and Financial Conference, commonly known as Bretton Woods conference, was a gathering of 730 Delegates from all 44 Allied Year 1944 ( MCMXLIV) was a Leap year starting on Saturday (link will display full calendar of the Gregorian calendar. The conference led to the establishment of the International Monetary Fund (IMF) and International Bank for Reconstruction and Development (IBRD). The International Monetary Fund ( IMF) is an International organization that oversees the Global financial system by following the Macroeconomic The International Bank for Reconstruction and Development (IBRD is one of five institutions that comprise the World Bank Group. He was a member of the Board of Governors of both of these institutions for the next ten years. In 1950, at the Paris conference of these institutions, he served as the Chairman of the Joint Annual Meeting. Paris (ˈpærɨs in English; in French) is the Capital of France and the country's largest city
Post partition
When British India was partitioned into India and Pakistan in 1947, Deshmukh oversaw the post-partition division of the assets and liabilities of the Reserve Bank between India and Pakistan. For usage see British rule in India British Raj ( rāj, lit "reign" in Hindustani) primarily refers to the British Year 1947 ( MCMXLVII) was a Common year starting on Wednesday (link will display full 1947 calendar of the Gregorian calendar. The Partition of India was the partition of the British Indian Empire which led to the creation on August 14, 1947 and August 15, India, officially the Republic of India (भारत गणराज्य inc-Latn Bhārat Gaṇarājya; see also other Indian languages) is a country Pakistan () officially the Islamic Republic of Pakistan, is a country located in South Asia, Southwest Asia, Middle East and
The Indian Government nationalized the Reserve Bank on January 1, 1949. Deshmukh saw through the smooth transition of the Bank from a shareholder’s institution to a national institution.
Union Finance Minister
Deshmukh held the office of Union Finance Minister from 1950 until his resignation in protest in 1956. Year 1956 ( MCMLVI) was a Leap year starting on Sunday (link will display full calendar of the Gregorian calendar.
Resignation
The following is the background of Deshmukh's resignation in protest.
In 1956, the Central Government reorganized the states in India on linguistic basis. The States Reorganization Act of 1956 was a major reform of the boundaries and governance of India 's states and territories. The Central Government with Jawaharlal Nehru as the Prime Minister made, however, an exception by newly forming the State of Bombay which comprised the neighbouring overwhelmingly Gujarati and overwhelmingly Marathi regions, the City of Bombay, the nation's prime economic centre, being made the new state's capital. Jawaharlal Nehru (जवाहरलाल नेहरू ʤəʋäɦəɾläl nɛɦɾu (14 November 1889 27 May 1964 was a major political leader of the Congress Party This article is about the government position For other uses see Prime Minister (disambiguation. The State of Bombay is a former state of India. During British rule, portions of the western coast of India under direct British rule were part of the Gujarati people ( Gujarati: ગુજરાતી લોકો Gujǎrātī loko ? Marathi (mr मराठी Marāṭhī) is an Indo-Aryan language spoken by the Marathi people of what is considered western India.
This exception was done even though the city was a natural part of the overwhelmingly Marathi region and should have logically been made a part of a separate Marathi-speaking state to be called Maharashtra, the overwhelmingly Gujarati region also being organized as a separate Gujarati speaking state to be called Gujarat. Maharashtra ( Marathi: mahārāṣṭra, IPA) is a state located on the western coast of India. Gujarat (ગુજરાત Gujǎrāt, pronounced) is a state in western India. The genesis of the exception was that the Gujarati-speaking community wanted to have a stake in the governance of the City of Bombay, and the Central Government under Mr. Nehru's leadership had gone along with the above desire of the influential Gujarati-speaking community.
After the Central Government announced the above scheme, Deshmukh, who belonged to the Marathi-speaking community, resigned from the office of Union Finance Minister to register his protest against the idea of not letting the City of Bombay be a part of a separate Marathi-speaking State of Maharashtra.
After the Marathi-speaking community's long, four-year struggle under the Samyukta Maharashtra Samiti, the Central Government finally partitioned in 1960, the bilingual State of Bombay into the Marathi speaking State of Maharashtra with the City of Bombay as its part, and the Gujarati speaking State of Gujarat [2]. Samyukta Maharashtra Samiti ( Marathi: संयुक्त महाराष्ट्र समिति roughly translated as United Maharashtra Committee, was In 1995, the City of Bombay was renamed as Mumbai. Mumbai ( Marathi:,, IPA: formerly Bombay, is the capital of the Indian state of Maharashtra and the financial )
Awards
In 1959, Deshmukh was a co-recipient (along with Jose Aguilar of the Philippines[3]) of the Ramon Magsaysay Award for distinguished Government Service. José Aguilar Pauzon (born November 24, 1958) was a Cuban boxer, who won a Light Welterweight Bronze medal at the 1980 The Philippines ( Filipino: Pilipinas, officially known as the Republic of the Philippines (fil ''Republika ng Pilipinas'' RP The Ramon Magsaysay Award was established in April 1957 by the trustees of the Rockefeller Brothers Fund (RBF based in New York City. Jesus College, Cambridge, Deshmukh's alma mater, elected him its Honorary Fellow in 1952 in recognition of his distinguished contribution in the areas of Indian and international finance and administration. Jesus College in the University of Cambridge was founded in 1496 on the site of a Benedictine nunnery by John Alcock, then Bishop of Ely.
In 1975, the Government of India honored Deshmukh with a Padma Vibhushan award. The Padma Vibhushan is India 's second highest civilian honour
References
- ^ Chintaman Deshmukh Memorial Lectures. Reserve Bank of India. Retrieved on 2006-12-08. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Events 1609 - Biblioteca Ambrosiana opens its reading room the second public library of Europe.
- ^ "Prelude to storms", Frontline, 2005-05-06. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. Events 1527 - Spanish and German troops sack Rome; some consider this the end of the Renaissance. Retrieved on 2008-01-21. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 1189 - Philip II of France and Richard I of England begin to assemble troops to wage the Third Crusade.
- ^ The Ramon Magsaysay Awardees by Name. The Ramon Magsaysay Foundation. Retrieved on 2006-12-08. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Events 1609 - Biblioteca Ambrosiana opens its reading room the second public library of Europe.
| Preceded by James Taylor |
Governor of the Reserve Bank of India 1943–1949 |
Succeeded by Benegal Rama Rau |
| Preceded by R. K. Shanmukham Chetty |
Finance Minister of India 1951–1957 |
Succeeded by T. T. Krishnamachari |
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