Sir Osborne Smith was the first Governor of the Reserve Bank. A professional banker, he served for over 20 years with the Bank of New South Wales and 10 years with the Commonwealth Bank of Australia before coming to India in 1926 as a Managing Governor of the Imperial Bank of India.
His stewardship of the Imperial Bank won him recognition in banking circles in India. However, his outlook on policy issues like the exchange rates and interest rates was at variance with that of the Government. He resigned prior to the completion of his term of office of three and a half years. Sir Osborne, however, did not sign any bank notes during his tenure.
| No. | Officeholder | Portrait | Term start | Term end | Term in office | Background | Prior office(s) | |
|---|---|---|---|---|---|---|---|---|
| 1 | Osborne Smith |  |
1 April 1935 | 30 June 1937 | 821 days | Banker | Managing Governor of the Imperial Bank of India |