File Photo: Ramesh Pathania/Mint
File Photo: Ramesh Pathania/Mint

Shaktikanta Das assumes charge as 25th RBI governor

The government on Tuesday appointed Shaktikanta Das, 61, as the RBI governor for a three-year term, a day after Urjit Patel tendered his resignation

New Delhi: Shaktikanta Das, former economic affairs secretary, has assumed charge on Wednesday as the 25th governor of the Reserve Bank of India. The government on Tuesday appointed Das, 61, as the RBI governor for a three-year term, a day after Urjit Patel tendered his resignation.

Das, a 1980-batch Tamil Nadu cadre IAS officer, oversaw the re-monetisation of the economy after the Prime Minister Narendra Modi’s shock decision to withdraw 86 per cent of the currency in circulation in November 2016. After his retirement, he was named India’s G-20 sherpa and also appointed as a member of the 15th Finance Commission.

“Assumed charge as Governor, Reserve Bank of India. Thank you each and everyone for your good wishes," said Das in a Twitter post today.

With the appointment of Das as the new governor of the Reserve Bank of India (RBI), the top position at the central bank returns to a career bureaucrat after a gap of five years when D. Subbarao demitted office in 2013.

Das was one of the contenders for the position in 2016 when the government decided not to give an extension to Raghuram Rajan, but missed out to Rajan’s then deputy Urjit Patel.

Urjit Patel resigned four days ahead of the crucial meeting of the RBI Board where government nominee directors were expected to push the central bank on governance issues.

With inputs from PTI

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