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Updated: December 14, 2012 12:01 IST

Pinnamaneni award for former RBI Governor

Special Correspondent
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Former RBI Governor Y.V. Reddy. File Photo: Kamal Narang
The Hindu Former RBI Governor Y.V. Reddy. File Photo: Kamal Narang

The Dr. Pinnamaneni and Smt. Seethadevi Foundation Award for 2012 will be given to the former Reserve Bank of India (RBI) Governor, Y.V. Reddy.

The Managing Trust of the foundation and director-general of the Pinnamaneni Siddartha Institute of Medical Sciences and Research C. Nageswara Rao announced in a press conference here on Thursday that the award would be conferred on Dr. Reddy at the 22 Annual Awards Function to be held here on Sunday.

Dr. Rao said that Dr. Reddy was being conferred the award for his role in “Quarantining the Indian Economy from the domino effect of the global financial crisis.”

The 13 Governor of RBI, M. Narasimham, was also in the list of several stalwarts who received the award, and Dr. Reddy was, therefore, the second RBI governor to receive it. “We had invited him to accept the award when he was in service. Dr. Reddy then declined saying he was not accepting any awards or felicitations while in office, Dr. Rao said. C. Sudha, Trust member, former TTD Board member, and daughter of Pinnamaneni Venkateswara Rao after whom the foundation is named, said that cash awards of Rs. 1 lakh each would be given to three organisations working for rural development on the occasion.

Guradi Reddy Raitu Sangam, Ankapur, Nizamabad; Bhagavatula Charitable Trust, Yelamanchili, Visakhapatnam; and Satyaseva Trust, Kallakur, West Godavari; had been selected for the cash awards, Dr. Sudha said.

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