Shaktikanta Das named new RBI Governor

NEW DELHI: Former bureaucrat Shaktikanta Das on Tuesday was appointed the new governor of the Reserve Bank of India (RBI), a government statement said.

He replaces Urjit Patel, who surprisingly resigned from the central bank on Monday.

A former civil servant, Das is also a member of the 15th Finance Commission. Das, who retired as Economic Affairs Secretary in May 2017, has been appointed for a term of three years.

An IAS officer holding a Master’s Degree from St Stephen’s College, New Delhi, Das served as the Joint Secretary, Ministry of Finance, Department of Expenditure, Government of India; Special Commissioner and Commissioner of Revenue Administration, Government of Tamil Nadu; Secretary, Industries Department in Government of Tamil Nadu and various other distinguished services. He also served as Secretary of the Industries Department of Government of Tamil Nadu.

Prior to his tenure in the various ministries, Das served as a Non-Executive Director at Indian Bank from December 9, 2009 to December 5, 2012. Hereafter, he took charge as the Director of Oil and Natural Gas Corp. Ltd and then the Director at Life Insurance Corporation of India.

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