New RBI Governor Is Shaktikanta Das, Former Economic Affairs Secretary Shaktikanta Das (Photo by Vipin Kumar/Hindustan Times via Getty Images)

Ex-IAS officer of the 1980 batch, Shaktikanta Das, of Tamil Nadu cadre, was on 11 December declared RBI’s new governor, reports The New Indian Express. His selection was made by the Cabinet’s Appointments Committee headed by Prime Minister Narendra Modi.

Das replaces Urjit Patel, the outgoing governor of RBI, who put in his papers on Monday citing personal reasons.

The former bureaucrat has been given a term of three years. Finance Secretary A N Jha stated that Das has experience in the state government as well as the central government.

Das retired as Economic Affairs Secretary in May 2017, after overseeing the process of re-monetisation. Post-retirement, he served as India’s Sherpa at the G-20 and was also appointed to the 15th Finance Commission as a member.

He is a history graduate from St Stephen’s College of Delhi and had initially served in the Finance Ministry after the BJP came to office in 2014, later moving to the Economic Affairs department, where he worked closely on monetary policy.

The RBI is getting an ex-IAS governor after a gap of five years; the last bureaucrat to hold the post was D Subbarao, who left office in September 2013.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement