Shaktikanta Das reappointed as RBI governor for another three-year term

By Team Newsable | First Published Oct 29, 2021, 8:58 AM IST

The reappointment is effective as of December 10 or until additional instructions are issued, whichever comes first.

For another three years, the government has reappointed Shaktikanta Das as Governor of the Reserve Bank of India (RBI). The reappointment is effective as of December 10 or until additional instructions are issued, whichever comes first. "The Cabinet Appointments Committee has accepted the reappointment of Shaktikanta Das as Governor of the Reserve Bank of India for three years beyond 10.12.2021 or until further instructions, whichever is sooner," an official statement said. The cabinet nominations committee accepted the move late Thursday.

Das formerly served as the finance ministry's department of economic affairs secretary before being selected as the central bank's Governor for a three-year term on December 11, 2018. Shaktikanta Das has extensive expertise in several government sectors, having held key posts in the Central and State Governments in Finance, Taxation, Industries, and Infrastructure, among others. He holds a postgraduate degree from Delhi University's St. Stephen's College. During his long employment at the Government of India's Ministry of Finance, he was actively involved in developing up to eight Union Budgets.

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Das has also served as India's Alternate Governor at the World Bank, Asian Development Bank, New Development Bank, and Asian Infrastructure Investment Bank (AIIB). He has represented India in international fora such as the IMF, G20, BRICS, and SAARC.

He took over for Urjit Patel, who unexpectedly quit after mounting disagreements with the government on various issues, including the RBI's autonomy. He is the only Governor to be given an extension by the current BJP administration, while previous governors either resigned or returned to academia. In its October monetary policy review, the RBI held key benchmark rates constant for the eighth time in a row, promising to keep rates steady "as long as required to boost GDP."

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