Post Partition
When British India was partitioned into India and Pakistan in 1947, Deshmukh oversaw the post-partition division of the assets and liabilities of the Reserve Bank between India and Pakistan.
The Indian Government nationalized the Reserve Bank on January 1, 1949. Deshmukh saw through the smooth transition of the Bank from a shareholder’s institution to a national institution.
Read more about this topic: C. D. Deshmukh
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