Business News/ Industry / Banking/  Shaktikanta Das reappointed as RBI Governor for three more years

The government has reappointed Shaktikanta Das as the Reserve Bank of India's (RBI) governor for three more years. The re-appointment is effective from December 10, or until further orders, whichever is earlier. The decision was approved by the appointments committee of the cabinet late on Thursday.

"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," an official statement stated.

Das was previously the department of economic affairs secretary at the finance ministry and was appointed as the head of the central bank on December 11, 2018, for a period of three years.

"The reappointment of Governor Shaktikanta Das for a three- year term signals continuity of monetary policy and gives greater stability to government-RBI relations," said Barclays in a note. If he serves the full six-year term as governor, Das would become the longest-serving RBI governor in almost seven decades.

Shaktikanta Das has vast experience in various areas of governance and has held important positions in the Central and State Governments in the areas of Finance, Taxation, Industries, Infrastructure, etc. He is a postgraduate from St. Stephen’s College, Delhi University.

"The three-year reappointment is slightly longer than the usual two-year extension that has been the norm recently. Under Governor Das, the central bank has done the heavy lifting to support the economy through the COVID crisis, with fiscal policy playing a supportive role. We also view the governor’s reappointment as a vote of confidence in the RBI’s policy stance," Barclays added.

During his long tenure in the Ministry of Finance, Government of India, Das was directly associated with the preparation of as many as 8 Union Budgets. He 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). 

Saloni Kothari
Covers markets, personal finance and economy for Livemint and currently hosts the 'Millionaire On A Budget' podcast
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Updated: 29 Oct 2021, 10:49 AM IST
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