India appoints Shaktikanta Das as the new RBI governor

December 11, 2018 Share Print 0

Former finance secretary and current member of the finance commission Shaktikanta Das is the new Reserve Bank of India (RBI) governor.

Before this, Das was appointed as India’s sherpa at the recent two-day annual G20 meeting held at Buenos Aires. A former civil servant, Das is also a member of the 15th Finance Commission.

The announcement came a day after Urjit Patel resigned from his post of RBI governor on account of personal reasons, with immediate effect.

“On account of personal reasons, I have decided to step down from my current position effective immediately,” Patel said in a statement.

The 54-year old Indian economist had served as the deputy governor for three years before his appointment as the governor on September 4, 2016.

“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, ” he added.

CNBC

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Dean Popplewell

Vice-President of Market Analysis at MarketPulse

Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.