RBI Governor Shaktikanta Das’ extended 3-year term starts today

Shaktikanta Das' extended three-year term will start today. On October 29, the Appointments Committee of the Union Cabinet headed by Prime Minister Narendra Modi decided to reappoint the Reserve Bank of India Governor for three more years, starting December 10.

"The Appointments Committee of the Cabinet has approved the reappointment of Shaktikanta Das as Reserve Bank of India Governor for a period of three years beyond 10.12.2021 or until further orders, whichever is earlier," stated the October announcement.

The Governor’s first three years were nothing short of action-packed. Under him, the central bank supported growth aggressively, brought stability to the financial system after the IL&FS debacle, created a record-level foreign exchange reserve and managed pandemic-related challenges.

In the next three years, one of the keenly followed developments would be the introduction of RBI’s digital currency. In a recent reply in the Lok Sabha, the Finance Ministry had stated that the RBI is working on a strategy for the implementation of digital currency in a phased manner.

Apart from that, anchoring inflation expectations, withdrawing of surplus liquidity from the market, reforming co-operative banks are some of the key issues that he might address in his second term.

Shaktikanta Das was appointed as the 25th RBI Governor in December 2018, before which he was a Member of the 15th Finance Commission and G20 Sherpa of India. Das is known for being a part of various areas of governance for the past 38 years.

He also worked as the Secretary in the Ministry of Finance's Department of Revenue and Department of Economic Affairs, during which he was directly associated with the preparation of eight Union Budgets.

Das is a postgraduate from St Stephen’s College, Delhi University.

Also read: Cabinet reappoints Shaktikanta Das as RBI governor for 3 years

Also read: RBI Gov Shaktikanta Das’ first 3 yrs were action-packed; what to expect from the next 3 yrs