Shaktikanta Das takes charge as 25th RBI governor soon after former RBI governor Mr. Urjit Patel resigned from his duties abruptly.
Shaktikanta Das, 61, former economic affairs secretary, will soon take charge of his duties on Wednesday as the 25th governor of the Reserve Bank of India. Das will effectively begin his tenure as the RBI governor for a three-year term from 12th of December 2018.
Das is essentially a Tamil Nadu based cadre IAS officer who, back in November 2016 predicted the ill-effects of PM Narendra Modi’s decision of demonetization on Indian economy. Demonetization led to a sudden withdrawal of about 86 percent of the currency in circulation, thus leading to nation-wide chaos and distrust. Soon after his retirement from civil services, Das was named as India’s G-20 sherpa and also appointed as a member of the 15th Finance Commission.
Das took this opportunity to thank his fellow members and close ones by leaving a short thank you note on the micro-blogging site, Twitter.
“Assumed charge as Governor, Reserve Bank of India. Thank you each and everyone for your good wishes,”
Das, who was also a strong contender for the position in 2016, stood only second to Rajan’s then Deputy Urjit Patel who took up the charge in 2016 after Raghuram Rajan stepped down as the RBI governor. After Urjit Patel’s resignation, Das will revive as yet another career bureaucrat taking up the duties of the top position at the central bank.