India appoints Shaktikanta Das as the new RBI governor

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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