Maidavolu Narasimham (3 June 1927 – 20 April 2021) was an Indian banker who served as the thirteenth governor of the Reserve Bank of India (RBI) from 2 May 1977 to 30 November 1977.
[5] The family hailed from Maidavolu village in Guntur district of present-day Andhra Pradesh.
[5] He was a budding cricketer and could have been on St. John's College's team with Test-level players, but he was ineligible because of his near-sightedness[4] Narasimham joined the Reserve Bank of India, India's central bank in 1950 in Bombay (present day Mumbai).
[2] After his term as the RBI governor, he served as India's executive director at the World Bank and later at the International Monetary Fund.
[7] Bank mergers toward creation of strong public sector mega-banks were first recommended by the Narasimham committee of 1991.
India's recent merger of ten public sector banks in 2020 was building on recommendations from this committee.
[7] Amongst the other Public sector banks (PSB), the committee recommended that the government separate ownership from management and also led to technology upgradation and modernization.