Shaktikanta Das, who has taken over as the RBI Governor from Urjit Patel, was the Economic Affairs Secretary when demonetisation was announced.
Shaktikanta Das, former finance secretary, a vocal supporter of demonetisation, has been appointed the new governor of the Reserve Bank of India (RBI) for three years as the government moved swiftly to fill the position after Urjit Patel stepped down. Das, who is 61-year-old, will be the 25th governor of the RBI.
On Monday, Urjit Patel stepped down from RBI governor’s role citing personal reasons. However, his decision to quit the top job ten months ahead of the end of his three-year term followed rift with the government over several issues.
Meet Shaktikanta Das: the new RBI governor replacing Urjit Patel
- Shaktikanta Das is a former IAS officer from Odisha. He is a 1980 batch IAS officer from Tamil Nadu cadre.
- Shaktikanta Das is currently the member of 15th Finance Commission and one of India’s serving G20 representatives.
- He was the Economic Affairs Secretary when demonetisation was announced. He served the position from August 2015- May 2017.
- He will be the first bureaucrat (IAS) to head the central bank in almost five years.
- Shaktikanta Das has been a vocal supporter of demonetisation. Last year, on the first anniversary of the note ban, he tweeted, “One year of demonetisation. Significant gains for the economy. Great memories of this day last year.”
- Shaktikanta Das is a history graduate from St Stephen’s College in Delhi and was brought to the Finance Ministry soon after the NDA government came to power in 2014.
- He was given the charge of the crucial revenue department. He was then moved to the economic affairs department.
- In February 2017, Shaktikanta Das made headlines when he severely criticised rating agencies such as Moody’s, Fitch and S&P for not upgrading India’s sovereign rating. “It would appear that rating agencies are several steps behind the prevailing reality. At least, so far as India is concerned, that seems to be the case,” he told news agency PTI.
- Shaktikanta Das has held several key positions under Tamil Nadu government as well.
- He has also worked extensively in the budget division under both the NDA government and the previous UPA government.
First published on www.financialexpress.com on 11 December 2018.