His appointment means that the next RBI board meeting scheduled for December 14 is expected to go smoothly.
New Delhi: The Centre on Tuesday appointed Shaktikanta Das, former finance secretary and currently member of the Finance Commission of India, as the new governor of the Reserve Bank of India, a day after Urjit Patel resigned from the post.
Mr Das, a history graduate from St. Stephen’s College in Delhi, will hold the post for three years as per the government notification. He will be the 25th governor of RBI. A 1980-batch Tamil Nadu cadre IAS officer, he retired as finance secretary in May 2017. Currently, he serves as the government’s representative at the Group of 20 summits.
His appointment means that the next RBI board meeting scheduled for December 14 is expected to go smoothly. Mr Das, 63, is known to have a good rapport with the Narendra Modi government and was part of the core team that implemented demonetisation. His appointment is seen as an attempt by the Modi government to have a trusted lieutenant at the helm of the central bank during the crucial year, 2019, when Lok Sabha polls are going to take place. Interestingly, before he retired from his job as finance secretary, RBI had announced the introduction of currency notes in `1 denomination with Mr Das’ signature.