Shaktikanta Das assumes charge as RBI Governor in less than 48 hours of Urjit Patel stepping down

By: |
Updated: December 12, 2018 12:50:42 PM

Shaktikanta Das, 61, who was top finance ministry bureaucrat during demonetisation, was appointed the central bank governor for a period of three years on Tuesday by the Narendra Modi government.

A 1980 batch IAS officer from Tamil Nadu cadre will be the 25th governor of the RBI. A 1980 batch IAS officer from Tamil Nadu cadre will be the 25th governor of the RBI.

Former bureaucrat Shaktikanta Das on Wednesday assumed charge as the governor of the Reserve Bank of India (RBI) in less than 48 hours after Urjit Patel left the office. Das, 61, who was top finance ministry bureaucrat during demonetisation, was appointed the central bank governor for a period of three years on Tuesday by the Narendra Modi government.

After the appointment, Shaktikanta Das resigned as a member of the 15th Finance Commission. A 1980 batch IAS officer from Tamil Nadu cadre will be the 25th governor of the RBI. On Monday, Urjit Patel stepped down as RBI governor citing personal reasons. His resignation, however, followed strained relationship with the government over RBI’s autonomy.

Also Read: Who is Shaktikanta Das? Meet the new RBI governor replacing Urjit Patel

After assuming charge Shaktikanta Das took to Twitter to thank people.

Finance Minister Arun Jaitley termed Das as a person with “right credentials” for the RBI top job. “Das has been a very senior and an experienced civil servant. He has almost his entire career in the management of finances and economic management of the country both, when he was in the state government of Tamil Nadu and also when he was in the Government of India in the Ministry of Finance,” Jaitley said.

Do you know What is Wholesale Price Index (WPI), Public Debt, Finance Commission Grants & Other Transfers, Economic Survey, State Finance Commission? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.