Shaktikanta Das Appointed New RBI Governor: 10 Things To Know

Newly appointed Reserve Bank of India governor Shaktikanta Das interacts with the media at the RBI headquarters in Mumbai Wednesday

Newly appointed Reserve Bank of India governor Shaktikanta Das interacts with the media at the RBI headquarters in Mumbai Wednesday

Shaktikanta Das, a member of the Fifteenth Finance Commission, was appointed the new governor of the Reserve Bank of India (RBI) on Tuesday, news agency Reuters reported.

Das's appointment to the RBI governor's post was announced last evening, a day after Urjit Patel stepped down from the central bank's top post, citing personal reasons. "It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years", read his statement on the Reserve Bank of India (RBI).

"On account of personal reasons, I have chose to step down from my current position effective immediately".

Das also said that he would be meeting managing directors and chief executive officers of public sector banks tomorrow.

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Das's meeting with public sector banks holds significance because as many as 11 public banks are under the Reserve Bank of India's Prompt Corrective Action measures. He also claimed that it is only the banking segment that is facing several challenges now that need to be solved as soon as possible.

Das deflected queries on differences with the government that led to his predecessor's resignation Monday. "I wouldn't go into the issues between RBI and government but every institution has to maintain its autonomy and also adhere to accountability", Das said.

He also said it is heartening to know that inflation is on target with a benign outlook. "I will try my best to work with everyone and work in the interest of Indian economy", Das said at his first news conference after taking charge on Wednesday. "The new RBI Governor does not have to do anything dramatically different". He reportedly had a face-off with the government over issues related to governance and autonomy of the central bank.

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