Former RBI Governor Maidavolu Narasimham, known as the father of Indian banking reforms, passed away at a Hyderabad hospital on Tuesday due to COVID-19-related illness at the age of 94. He served as RBI Governor between May and November 1977. Narasimham also served as chairperson of Committee on the Financial System, 1991 and the Committee of Banking Sector Reforms, 1998.