Former Reserve Bank of India (RBI) Governor Maidavolu Narasimham, famously known as the father of Indian banking reforms, passed away on Tuesday at the age of 94. He was born in 1927 and hails from Mydavolu village of Guntur District in Andhra Pradesh. 

Mr Narasimham was the 13^th governor of the RBI, and he served as the central bank head from May 2, 1977 to November 30, 1977. Mr Narasimham was the first and only governor so far to be appointed from the RBI cadre, having joined the central bank as a research officer in the Economic Department. He later joined the government, and prior to his appointment as governor, he served as additional secretary of the Department of Economic Affairs. 

After his short term as the RBI governor, he served as India’s executive director at the World Bank and later at the International Monetary Fund (IMF). Mr Narasimham also headed various committees, including the one on financial system in 1991 and the committee of banking sector reforms in 1998. He was awarded the Padma Vibhushan in 2000.