It has been a day since the appointment of our new RBI governor after the unexpected resignation of Dr. Urjit Patel on 10th December citing personal reasons. Without getting into the debate of whether the resignation was personal or not, let's look into the profile of the latest personality assuming the chair. Like many RBI governors, not many know about the chief before they assume office.
Mr. Shaktikanta Das is the 25th governor of the Reserve Bank of India. He assumed office on 12th December 2018 after being appointed on 11th December. He is an alumnus of St. Stephen's College and IIM Bangalore. He is a retired IAS of 1980 batch.
The Sensex and Nifty responded positively to his appointment due to the successful tenure of IAS officers as RBI governors previously.
He was the personal representative (Sherpa) of India to G20 before being promoted to RBI Governor. He was the Economics Affairs Secretary of India before that. He was also the Fertilizers Secretary of India and also held many positions for the Government of Tamilnadu.
As evident, we have ourself a highly decorated governor who has proven himself in other fields. But will be able to keep the market at a steady and solid growth is yet to unveil. After all, he will be judged by the people for the rest of his life for his role as an RBI governor, and not as his roles in his previous positions.
Hopes are high for him with his first comment being
"Inflation targeting is an important function as it is a mandated requirement of RBI now."He is to preside over the RBI board meeting scheduled on 14th of December.
More about him on https://en.wikipedia.org/wiki/Shaktikanta_Das.
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