Shaktikanta Das Reappointed As Governor Of The RBI For 3 More Years

Shaktikanta Das has been reappointed as the Governor of the Reserve Bank of India, according to the latest official sources. He has been reappointed for another term of 3 years this time. The union cabinet has announced this in a recent statement. His current term ends December 10. He has been reappointed to lead the central bank's monetary policy for the pandemic and is expected to guide the pathway for the country's economic recovery.

Stepping forward to keep the interest rate at a historically low level to ease the common citizen, has been Das's one of the most significant steps. Under his guidance, the country is on the pathway to minimizing the inflation rate, which is worrying many economists now.

Economist Shaktikanta Das first took the office as the 25th Governor of the RBI in 2018. He was appointed at the post after Urjit Patel. At that time, Patel quit the office as he was worried the government was trespassing the RBI's turf. Before he was appointed the Governor of RBI, Das served the country as the Economic Affairs Secretary from the year 2015 to 2017. During this period he was one of the major names to implement the demonetization policy in late 2016. Banning the high-value currency notes, which is called demonetization was a very controversial step for the government, Das was the backbone of Prime Minister Narendra Modi on that matter.

(Also read: Consumer Price Index-based Inflation (CPI) Eased At 5.30%, In August)

Shaktikanta Das is an IAS officer of the 1980 batch, from Tamil Nadu cadre. In his service years, Das has been associated with 8 Union Budgets. Earlier, he had 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). Additionally, Shaktikanta Das represented India on international platforms like the IMF, G20, BRICS, and SAARC.