Shaktikanta Das, the former Economic Affairs Secretary, has been appointed the new RBI Governor for a period of three years. He will be the 25th Governor of the Reserve Bank of India.
The Appointments Committee of Cabinet (ACC) has approved the appointment of Shaktikanta Das, retired IAS officer of Tamil Nadu cadre, 1980 batch, as Governor, Reserve Bank of India (RBI) for a period of three years, the Finance Ministry said in a statement.
Das has reportedly been instrumental behind Narendra Modi government’s demonetisation move. He replaces Urjit Patel, who resigned on Monday, citing personal reasons.
Das is believed to be close to both Finance Minister Arun Jaitley and top officials at the Prime Minister’s Office.
He has worked closely with the RBI as a member of its board. He is currently a member of the 15th Finance Commission of India, and has represented the country at the G-20 as a sherpa. It has been the job of a G-20 Sherpa to chalk out the details regarding development track before the world leaders meet.