Cabinet reappoints Shaktikanta Das as RBI governor for 3 years

Appointments Committee of the Union Cabinet has reappointed Shaktikanta Das as the Governor of the Reserve Bank of India (RBI) for three years. This reappointment is effective from December 10, 2021 or whichever is earlier, until further orders.

"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," as per an official statement.

Das was appointed as the 25th RBI Governor in December 2018. Prior to this appointment, Das acted as the Member of the 15th Finance Commission and G20 Sherpa of India. He has worked in various areas of governance in the last 38 years.

Shaktikanta Das has held important positions in the Central and various state governments in areas like finance, taxation, industries and infrastructure among others. He has also worked as the Secretary in the Ministry of Finance's Department of Revenue and Department of Economic Affairs.

During his stint in the Finance Ministry, he was directly associated with preparation of eight Union Budgets. He has served as India’s Alternate Governor in the World Bank, Asian Development Bank (ADB), New Development Bank (NDB) and Asian Infrastructure Investment Bank (AIIB). Das has also represented India at international forums like the *IMF, G20, BRICS, SAARC, etc. Das is a postgraduate from St Stephen’s College, Delhi University.

On the monetary policy front, the RBI cut key interest rates to record lows and infused massive rupee liquidity into the banking system to mitigate the impact of the COVID-19 crisis. With markets gradually gearing up for the change in monetary policy, stability in RBI’s top leadership is crucial. Under Das, the central bank has taken more consultative approach with markets focused on transparency and direct communication.