Former ISRO Chief S Somnath Appointed to RBI Central Board

Why in the News?

Former Chairman of the Indian Space Research Organisation (ISRO), S Somnath, has been appointed as a part-time, non-official director on the Central Board of the Reserve Bank of India (RBI).

Key Features / Major Points:

Tenure & Role: Appointed for a term of four years starting August 20, 2026. Somnath retired from ISRO in January 2025 and subsequently took over as Chancellor of Chanakya University.

Re-appointments: Industrialist Anand Mahindra has also been reappointed as a part-time, non-official director on the RBI Central Board for another four-year tenure.

Other Key Board Members:

Includes Revathy Iyer (former Deputy CAG) and Sachin Chaturvedi (Director General, RIS).

RBI Leadership: Governor Sanjay Malhotra, alongside Deputy Governors Swaminathan J, Poonam Gupta, SC Murmu, and Rohit Jain.

Static GK Facts:

Reserve Bank of India (RBI):

Established: April 1, 1935 (under the RBI Act, 1934)

Nationalisation: January 1, 1949

Headquarters: Mumbai, Maharashtra

Governance: Governed by the Central Board of Directors comprising official and non-official members appointed by the Government of India.

One-Liner Quiz (All Competitive Exams):

Which former ISRO Chairman was recently appointed to the RBI Central Board as a non-official director?

Answer: S Somnath

When was the Reserve Bank of India (RBI) nationalised?

Answer: January 1, 1949