Shaktikanta Das has been appointed as the new RBI governor. The decision comes within 24 hours after Urjit Patel resigned from the post.
Shaktikanta Das, 61, would be the 25th governor of the central bank. He will be given a three-year tenure.
A former economic affairs secretary from 2015 to 2017, Das worked closely with the central bank. He is currently a member of the Fifteenth Finance Commission of India, and the government’s representative at the Group of 20 summits.
Das came under fire for his pro-demonetisation stance and he was the most visible and vocal bureaucrat at the time Modi withdrew the high-value banknotes in 2016, Reuters reported.
According to reports, Shaktikanta was to take up the post of the governor after Raghuram Rajan resigned in 2016 but was replaced by Urjit Patel.
Who is Shaktikanta Das?
Shaktikanta Das is a retired 1980 batch Indian Administrative Service (IAS) officer of Tamil Nadu cadre. He served in various positions for both the Government of India and the Government of Tamil Nadu.
During his career as an IAS officer, Das held the posts of:
Special Commissioner (Revenue)
Secretary (Commercial Taxes), project director of Tamil Nadu State AIDS Control Society
Union Economic Affairs Secretary
Union Revenue Secretary
Union Fertilizers Secretary
Special secretary in the Department of Economic Affairs of the Ministry of Finance
Joint secretary in the Department of Expenditure of the Ministry of Finance in the Indian government
The Reserve Bank of India (RBI) ex-governor Urjit Patel resigned from his post on Monday citing ‘personal reasons’. Urjit Patel served as the 24th Governor of the RBI. He took charge of his office on September 2016 succeding Raghuram Rajan.