Harun Rashid Khan

Harun Rashid Khan, popularly known as H R Khan, was a Deputy Governor of Reserve Bank of India for a five-year term between 2011 and 2016 [1] Considered approachable and open to reasoning [2] Khan has made contribution to internal debt management, external investment and exchange control. He was appointed as Deputy Governor in July 2011.[3] He has also been an Executive Director of RBI and Director of NABARD.

For other people with the same name, see Haroon Rashid.

Harun Rashid Khan
Deputy Governor of Reserve Bank of India
In office
4 July 2011 – 4 July 2016
GovernorDuvvuri Subbarao
Raghuram Rajan
Succeeded byN S Vishwanathan
Personal details
BornIndia
NationalityIndian
Spouse(s)Rosy
ChildrenSara (daughter)
EducationUtkal University, Jawaharlal Nehru University
OccupationBanker
Known forDeputy Governor of Reserve Bank of India

Early life and education

H R Khan had his early schooling at Badagada Highschool in Bhubaneswar. He was a brilliant student. Although he studied in the vernacular medium, he regularly won first prizes at State level debate and elocution contests in English, and was a multiple winner of the Governor's Cup for elocution.

Khan obtained his Master's degree in Political Science from Utkal University. Later he obtained Master of Philosophy degree from the School of International Studies of Jawaharlal Nehru University.

Career in RBI

Khan joined Reserve Bank of India in 1978. He rapidly rose through the ranks, working in diverse areas, and became the Principal of RBI's College of Agricultural Banking (CAB) at Pune, before getting appointed as the Regional Director of RBI, New Delhi.

Between 2007 and 2008, Khan was the Director of Bank of Maharashtra and Punjab and Sind Bank

He was elevated to the position of Executive Director of RBI on 26 October 2007. He was appointed as Deputy Governor on 4 July 2011.[4]

Outstanding achievement

Khan was the Chairman of the RBI Internal Group on Rural Credit and Microfinance, which is popularly known as the Khan Committee. Based on the recommendations of the Khan Committee, RBI prepared guidelines for expansion of the banking outreach through the Business Facilitator and Business Correspondent models with ICT support, which revolutionized the spread of financial inclusion in India.

Towards the end of his career, Khan chaired the "Working Group on Development of Corporate Bond Market in India". Its report, also popularly referred to as "Khan Committee Report" considered various structural issues impinging on the development of a deep corporate bond market in India.[5]

Personal life

Khan is married to Rosy and has a daughter named Sara. Khan is a strict vegetarian, while all other members in his family are non-vegetarian. This habit has won him the epithet of Vegetarian Khan.[6]

Important assignments
  • Chairman, RBI Internal Group on Rural Credit & Micro-finance
  • Member Secretary, Committee on Ways and Means Advances for State Governments
  • Convenor, Working Group on Instruments of Sterilisation
  • Convenor, Working Group on Model Fiscal Responsibility & Budget Management Bill for States
  • Member, G-20 Working Group on "Reinforcing International Cooperation & Market Integrity"
  • Member, BIS Committee on "Global Financial System"
  • Member, International Task Force on Central Counterparties

See also

H R Khan - Executive Profile

Speeches & Writings

References
  1. "Khan retires, Vishwanathan takes charge as RBI Deputy Governor". The Indian Express. 5 July 2016.
  2. "Harun Rashid Khan is new deputy governor of RBI". The Times Of India. 13 July 2011.
  3. "H R Khan appointed Deputy Governor of RBI (Press Release)".
  4. "H R Khan promoted as DG of RBI)".
  5. "Khan committee report: 'Allow banks to pledge corporate bonds as collateral with RBI'". The Indian Express. 19 August 2016.
  6. "Harun Rashid Khan as new DG of RBI)". The Times Of India. 13 July 2011.
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