Shaktikanta Das to start his extended 3-year tenure as RBI governor

Shaktikanta Das will start his extended three-year tenure as the Reserve Bank of India (RBI) governor from Friday. The decision for this extension was taken by the appointments committee of the cabinet headed by Prime Minister Narendra Modi.

“The Appointments Committee of the Cabinet has approved the reappointment of Shaktikanta Das as Reserve Bank of India Governor for three years beyond 10.12.2021 or until further orders, whichever is earlier,” according to an official statement on October 29.

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During his ongoing role as the central bank’s governor, Das played a crucial role in steering the Indian economy amid the coronavirus disease (Covid-19) pandemic. Under his supervision, the RBI announced over 100 measures to maintain financial stability and push growth during the pandemic.

Das was appointed as the central bank’s governor in December 2018. According to news agency PTI, this extension is longer than the norm of a two-year term in the last 20 years.

He is the fifth governor to get tenure this long as RBI governors are usually given a five-year term.

If completed, Shaktikanta Das will be the longest-serving governor of the central bank after Sir Benegal Rama Rau, who was in office for 7 years and 197 days between July 1, 1949, and January 14, 1957.

Before him, the other four governors who served office for more than five years were Bimal Jalan, James Taylor, BP Bhattacharya and CD Deshmukh.

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Shaktikanta Das has held several positions in the state and central governments in the areas of finance, taxation, industries, and infrastructure.

As the economic affairs secretary from 2015 to 2017, Das worked closely with the RBI and spearheaded the 2016 demonetisation of high-value currency notes.

Das is a1980-batch Indian Administrative Services (IAS) officer of the Tamil Nadu cadre. He completed his post-graduation from the prestigious St Stephen’s College of Delhi University.

 

 

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