Former Finance Secretary and member of the 15th FInance Commission Shaktikanta Das has been named as the Governor of Reserve Bank of India. The appointment was notified through a Appointments Committee of the Cabinet (ACC) communique on Tuesday.
The retired Indian Administrative Service officer was one of the pioneers of the Tamil Nadu’s Special Economic Zone and pro-industry policy. Recently he was also appointed as the sherpa of the G20 Finance Track and Development Track in Buenos Aires.
In his long career as an IAS officer he has served as the Special Commissioner and Commissioner of Revenue Administration, Secretary, Industries Department among other positions in the Tamil Nadu bureaucracy. He has also served as Secretary of the Industries Department of Government of Tamil Nadu. Outside Tamil Nadu, he has served as the Director of Life Insurance Corporation of India, Oil and Natural Gas Corp and a part time director of the National Highways Authority of India.
The IAS officer who was a supporter of demonetisation was already in the fray for the position following former RBI Governor Raghuram Rajan’s departure. Prior to clearing the UPSC exam, he got a Master's degree in History from St. Stephen's College, Delhi.
The announcement comes a day after former RBI Governor Urjit Patel stepped down from his post with immediate effect, citing personal reasons amidst a rift between the central bank and the central government over reserves and liquidity concerns.
“On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years. The support and hard work of RBI staff, officers and management has been the proximate driver of the Bank’s considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues and Directors of the RBI Central Board, and wish them all the best for the future,” Urjit Patel had said in a press release.