Meet RBI's new governor, Shaktikanta Das: All you need to know about him
New Delhi : After the sudden exit of Urjit Patel, Shaktikanta Das, a member of the Fifteenth Finance Commission has been appointed as the new governor of the Reserve Bank of India (RBI), news agency Reuters confirmed. The appointment of Mr Das is likely to bring new wave in the currency market, believes an expert. He was appointed after the important and urgent meeting of the RBI Board that took place on Friday.
About Shaktikanta Das, the new governor of Reserve Bank of India
1) "The Appointments Committee of the Cabinet has approved the appointment of Shaktikanta Das, former Secretary, Department of Economic Affairs, as Governor of the Reserve Bank of India (RBI) for a period of three years," IANS reports
2) Mr Das was a former secretary at the department of economic affairs. He has been appointed the governor for a period of three years. He retired as the Economic Affairs Secretary in May 2017.
3) Shaktikanta Das is a 1980 batch IAS officer from Tamil Nadu cadre.
4) "Bonds and rupee should react positively following this news," said Ashish Vaidya, executive director and head of trading at DBS Bank.
5) His appointment is likely to cheer markets as investors expect communication between the government and the central bank to improve following a public spat that deepened an existing rift between the two sides, said experts.
6) Mr Das is known for being an experienced officeholder who has held key positions both under the ruling Bharatiya Janata Party as well the previous Indian National Congress-led government, reported Reuters.