The Appointments Committee of the Cabinet has reappointed Shaktikanta Das as the Governor of the Reserve Bank of India (RBI) for another term of three years. Shaktikanta Das had been previously appointed as the 25th Governor of the RBI on December 12, 2018.
In a statement, the decision was announced to be effective beginning from the end of Shaktikanta Das’ first term on December 10. He has been reinstated as the RBI Governor to steer the economic recovery of India following the COVID-19 pandemic.
Das had been the frontrunner in supporting the growth and maintenance of liquidity in the country during the worst of the pandemic. Now, as lockdown eases and the country walks on a path to recover from its ramifications, the central bank grapples with the risk of accelerating inflation.
Before assuming his post as the RBI Governor, Das had been acting as a member of the 15th Finance commission of India. In his career spanning close to four decades, Shaktikanta Das had been also worked as the Secretary in the Department of Revenue and the Department of Economic Affairs at the Ministry of Finance.
As Secretary of Economic Affairs from 2015 to 2017, Das worked in tandem with the Central Bank to oversee the demonetisation process undertaken by the Modi government in 2016. During his tenure in the Ministry of Finance, he was also a key figure involved in the preparation of 8 union budgets.
Shaktikanta Das has also worked as India’s Alternate Governor in the World Bank, the Asian Development Bank, the New Development Bank, and the Asian Infrastructure Investment Bank.
