Appointment of Shri Shaktikanta Das as Governor, RBI (Download PDF)

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India’s former economic affairs secretary & current member of 15th Finance Commission Shaktikanta Das is to be appointed as next RBI Governor. He will be 25th Governor of apex bank of country.

Image Of Shaktikanta Das

Image Of Shaktikanta Das

Image Of Shaktikanta Das

About Shaktikanta Das

  • Shaktikanta Das is 1980 batch IAS officer of Tamil Nadu Cadre & very prominent bureaucrat who served under both NDA & UPA govt.

  • He served as economic affairs secretary from 2015 to 2017.

  • He was key official in both big economic moves of govt. viz. demonetisation & implementation of GST.

  • He served in north block as Joint Secretary (Finance Expenditure) in 2008.

  • He was appointed as Fertilizer Secretary in December 2013. Before that, he was Special Secretary at Department of Economic Affairs in Ministry of Finance.

  • Das was appointed as Member of 15th Finance Commission & India’s Sherpa for G20 after retirement.

  • Das holds degrees of graduation & post-graduation in History from Delhi University. He later pursued financial management course from IIM Bangalore.

  • Appointment committee of cabinet approved Shaktikanta Das appointment as RBI governor. He will serve as governor for term of 3 years.

  • Das joins RBI at time when Indian Economy is facing major challenge of constant depreciation of domestic currency ‘Rupee’. Rupee ended 53 paisa lower, at Rs. 71.87 against US dollar on 11th Dec. , 2018.

Background of Shaktikanta Das

  • After resignation of Urijit patel, Shaktikanta Das is appointed as 25th governor of RBI.

  • Urijit Patel resigned due to personal reasons.

  • His tenure as RBI governor was about to complete in September 2019.

  • Patel has become 4th RBI to step down before end of term.

  • Before him, Sir Osborne Smith, Benegal Rama Rau & S Jagannathan had resigned before completion of their respective tenures.

Reserve Bank of India

  • Established in – 1935

  • Headquarter – Mumbai, Maharashtra

  • Functions of RBI:

    • Financial Supervision

    • Regulator & supervisor of financial system

    • Regulator & Supervisor of Payment & Settlement Systems

    • Banker & Debt Manager to Govt.

    • Managing foreign exchange

    • Issue of currency

    • Banker’s bank

    • Regulator of Banking System

    • Detection of fake currency

    • Developmental role

    • Related functions

    • Custodian to foreign exchange

- Published/Last Modified on: February 26, 2019

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