New Delhi: Shaktikanta Das Sixty-Four Years has been appointed as Governor of Reserve Bank of India (RBI) for a period of three years, with the effect of December 10, 2021.
Points to be recorded: Das is not the first governor to be re-appointed.
Sir Benegal Rama Rau, member of Indian civil service, is governor serving the longest central bank.
His ownership took place from July 1, 1949 to July 14, 1957.
He resigned in mid-January 1957 before the second extended office expired due to differences with the Minister of Finance.
The government also raised again from Bimal Road as the Governor of RBI, first for a period of 5 years from November 22, 1997 to November 21, 2002 and again for two years starting from November 22, 2002 and ended on November 21, 2004.
Read Alsoshaktikanta Das repeat the head of the RBI for bureaucrats Terma’s three-year career, the DAS was first appointed in 2018, after its predecessor Patel’s Urjit stopped amid fears the government violated the central bank grass.
Under the DAS, 64, the central bank strives to support growth and maintain liquidity through the worst pandemic with slashin cuts to bring stability and support the Indian economy on the impact of the pandemic, bank reserves below, cut interest rate to record the lowest position and liquidity infusion into the system banking.
But his work seems to be getting tighter this year because the headline and core inflation both remain above 6 percent while the estimated growth for 2021-22 has been revised down to 9.5 percent, from the beginning of 10.5 percent.
In 2020, he was named the central banker this year, Asia-Pacific 2020, by Banker magazine, financial time unit (FT) to manage to stimulate growth and stabilize the economy.
According to the magazine, Indian banks suffer from problems with problems surrounding fraud, while the repetitive economic downturn sees the RBI cut interest rate five times during 2019.
“Facing these challenges, Shaktikanta Das has taken steps to bring banks in India to the standard through a restrained approach for governance risky but that will reduce dependence on the central bank, “said the magazine.
“Lenders outside the traditional bank network have been placed below the greater level of supervision.
Housing finance companies have been brought based on RBI regulations and will comply with the same rule framework of non-bank financing companies,” he added.
DAS is also praised for playing an important role in empowering small banks that have the presence in the pocket of the country.
A 1980-batch Retired IAS Cadre from Tamil Nadu Cadre, the watershed is currently serving as the 25th RBI governor and first selected to lead the central bank in December 2018 when he replaced the Patel Urjit.
The last IAS officer to hold the RBI Governor’s office is D Subbarao, who is also an economist like his predecessor YV Reddy.
But Shaktikanta Das holds the MA in history from St.
Stephen’s College in New Delhi.
He then pursued a financial management course from Iim Bangalore.
Das in the past has a key position in the Ministry of Finance.
He has worked as a secretary at the Revenue Department (DOR) and the Department of Economy (DEA).
Before his appointment at RBI, he served as a member of the 15th Finance Commission and also as G20 Sherpa.
During his career as an IAS officer, the DAS served in various capacities for the Government of India and Tamil Nadu, including as secretary of economic affairs, fertilizer secretary, fertilizer secretary.
DAS also serves as an Indian alternative governor at the World Bank, the Asian Development Bank, a new development bank, and the Asian Infrastructure Investment Bank.
He also represents India in an international forum involving international monetary funds, G20, BRICS and SAARC.