New Delhi: The Government on Friday appointed Shaktikanta Das as the governor of the Reserve Bank of India (RBI) again for the next three years.
According to the statement of officials “The Appointments Committee of the Cabinet has approved the reappointment of Shaktikanta Das as RBI Governor for a period of three years beyond 10, December 2021, or until further orders, whichever is earlier.”
With the second term, Das will head the central bank till December 2024.
Shaktikant Das was previously the Department of Economic Affairs Secretary at the Finance Ministry and was appointed as the chief of the Reserve Bank on 11 December 2018, for three years. During his long tenure in the Finance Ministry, he was directly associated with the preparation of as many as eight Union Budgets.
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Das has 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) and he has held important positions in the areas of finance, taxation, industries, and infrastructure.
Das is a postgraduate from St. Stephen’s College, Delhi University. Das had replaced Urjit Patel, who surprisingly resigned amid growing differences with the government over a range of subjects including the RBI’s autonomy.
The repo rate, after being cut by 115 basis points (bps) in early 2020, has been held at a record low of 4 percent since May 2020, while the reverse repo rate was reduced by 155 bps to 3.35 percent.
(_Vinayak)
