Newly appointed Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday said that he would do everything possible to uphold the “credibility and autonomy” of the central bank.
“I will try and uphold professionalism, core values, credibility and autonomy of this institution. It’s an honour and great opportunity to serve RBI. I will try my best to work with everyone and work in the interest of Indian economy,” Das said at a press conference in Mumbai.
Reacting to the relations between the Central government and the RBI, the new Governor said, “I don’t know if the relationship is good or not but we have to have stakeholders consultation. The government is not just a stakeholder but also runs the country, economy and manages major policy decisions. So, there has to be a discussion between the government and the RBI.”
Urjit Patel, the 24th RBI Governor, stepped down abruptly on Monday, weeks after differences between the Central bank and the government came out in the public.
Das, a member of the 15th Finance Commission and former Economic Affairs Secretary, was appointed RBI Governor, a day after Patel quit. An IAS officer of Tamil Nadu cadre, Das will have a tenure of three years, according to a decision taken by the Appointments Committee of the Cabinet (ACC).
In reply to a question, Das further said that he will focus on the banking sector immediately as it is facing several challenges that need to be dealt with.
“I have convened a meeting with CEOs and MDs of public sector banks on Thursday morning. Banking is an important segment in our economy. It is facing several challenges that need to be dealt with. It is the banking sector on which I would like to focus on immediately,” he said.
He further said, “The inflation target continues to be very important. It is really heartening that it has been very good but we have to ensure stability. The issue of liquidity is also important and I will work on these issues too. The maintenance of the growth trajectory of the Indian economy is extremely important.”
Das also informed that the RBI Board meeting will be held as per schedule on December 14.
Patel stepped down just ahead of the scheduled meeting of the RBI Board meeting on December 14 to consider proposals like RBI governance and