Day after Urjit Patel quit from the RBI governor’s post citing personal reasons, the Modi Government appointed Shaktikanta Das the Governor of the Reserve Bank of India. FM Arun Jaitley also welcomed Das’s appointment as the RBI top boss.
He is a 1980 batch IAS officer from Tamil Nadu cadre. Das, who retired as Secretary, Department of Economic Affairs (DEA) in 2017, will be the 25th Governor of the RBI. He will have to quit his existing official positions—as India’s G-20 Sherpa and a finance commission member—after taking over as the 25th RBI governor.
A crucial meeting of the RBI board will take place on December 14 as scheduled. The appointments committee of the cabinet cleared Das’s appointment for a period of three years, said an official order issued by the department of personnel and training.
Das, who retired as the Economic Affairs Secretary in the finance ministry in February 2017, was noted for his articulate defence and handling of demonetisation and its aftermath in late 2016 and early 2017.