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Shaktikanta Das appointed as the new RBI Governor

Shaktikanta Das, Member of the fifteenth Finance Commission, was selected as the 25th Governor of the Reserve Bank of India (RBI) on December 11, 2018.

Headed by Prime Minister Narendra Modi, the Appointments Committee of the Cabinet, made his arrangement inside 24 hours of Urjit Patel’s sudden renunciation as RBI Governor. Das will have a three-year term.

He at present embodies India at the G-20 as a Sherpa, agents of pioneers of G20 part nations who arrange on the plan of the summit.

Das’ job in Government’s demonetisation move

Shaktikanta Das picked up spotlight in late 2016 after the troublesome ‘Demonetisation’ move of the Narendra Modi Government. Das was Secretary in the Department of Economic Affairs when Prime Minister Narendra Modi declared the ban of currency.

Post demonetization, Das turned into a recognizable face amid government affairs and answer sessions where he protected Center’s turn that prohibiting Rs 500 and Rs 1000 notes would tidy up the dark economy, decrease fake cash and goad advanced installments.

Das to address upcoming difficulties

  • Das joins the RBI when Indian Economy is confronting significant test of consistent deterioration of local money ‘Rupee’. The rupee became 53 paise lower, at Rs 71.87 against the US dollar on December 11, 2018.
  • Another test for Das is to assemble the help of RBI officials, for example, Deputy Governor Viral Acharya, who prior demonstrated his dishearten against Government’s impedance in the central bank.

With his arrangement, Das joins the rundown of RBI Governors who were officials, the most recent being Raghuram Rajan.

Prior such Governors were D Subbarao, Y V Reddy, Bimal Jalan, S Venkitaramanan, R N Malhotra, Manmohan Singh, I G Patel, K R Puri and LK Jha.

Posted in: Current Affair 2018

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