The government on Friday reappointed Shaktikanta Das as Reserve Bank of India (RBI) governor for three more years, till December 2024.
The decision was taken last evening by the cabinet appointments committee comprising Prime Minister Narendra Modi and Home Minister Amit Shah.
Das, former Secretary, Department of Revenue and Department of Economic Affairs at Ministry of Finance, had assumed charge as the 25th Governor of the Reserve Bank of India on December 12, 2018.
The RBI kept the key benchmark rates unchanged for the eighth consecutive time in its October monetary policy review and promised to maintain the status-quo on rates “as long as necessary to revive growth.”
Immediately prior to his current assignment, he was acting as Member, 15th Finance Commission, and G20 Sherpa of India.
To shore up the economy against the impact of the Covid-19 pandemic, the central bank has cut key interest rates to record lows and infused massive rupee liquidity into the banking system.
With markets now gearing up for the reversal of the ultra-loose monetary policy, stability at the RBI in terms of the top leadership is seen as crucial.
The central bank has taken a more consultative approach with markets under Das who has been keen to have more transparency and direct communication.
Shaktikanta Das as RBI Governor
During his 38 years of career, Shaktikanta Das holds a vast experience in various areas of governance and has held important positions in the central and state governments in the areas of Finance, Taxation, Industries, Infrastructure, etc.
He is a postgraduate from St. Stephen’s College, Delhi University.
In his extensive tenure in the ministry of finance, he was directly associated with the preparation of as many as eight Union Budgets.
Das has also served as India’s Alternate Governor in the World Bank, Asian Development Bank (ADB), New Development Bank (NDB) and Asian Infrastructure Investment Bank (AIIB).
He has represented India in international fora like the IMF, G20, BRICS, SAARC, etc.