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Chintaman Dwarkanath Deshmukh, a member of the Indian Civil Service, was the first Indian Governor of the Bank. His association with the Bank commenced in 1939, when he was appointed Government’s liason officer. He later served as Secretary and thereafter in 1941 as Deputy Governor of the Bank. On the demise of James Taylor, he took over stewardship of the Bank and was appointed Governor in August, 1943.During his tenure as Governor, he represented India at the Bretton Woods negotiations in 1944, saw the transition to Independence and the partition of the country and the division of the assets and liabilities of the Reserve Bank between India and Pakistan. He helped the smooth transition of the Bank from a shareholder’s institution to a State owned organisation, when the Bank was nationalised on 1st January 1949. He later held the office of Union Finance Minister between 1950-56. |
| C.D.DESHMUKH | ||||
| R B I GOVERNOR SIGN |  |
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| 10 RUPEES DESCRIPTION | 15th AUG 1947 to 13th JUN 1949 |
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OBVERSE:
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REVERSE:
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| NO. | INSET | PREFIX | REMARK | |
| NONE | A | First bank note issued after independence |  |
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