MeraNews Network, New Delhi: The Modi government on Tuesday appointed the former finance secretary Shaktikanta Das as the 25th governor of the Reserve Bank of India after Urjit Patel resigned on Monday evening citing ‘personal reasons’.
The appointment of 63-year old Das, a 1980-batch IAS officer of the Tamil Nadu cadre, was cleared by the Appointments Committee of the Cabinet (ACC) for a period of three years. He is currently a member of the Finance Commission of India and also represents the government at G20 summits.
During his tenure as the economic affairs secretary from 2015 to 2017, Das worked closely with the RBI. PM Modi had initially brought Das into the Finance Ministry to head the revenue department but later moving him to economic affairs. His pro demonetisation stance was criticized by many and had become popular during the demonetisation as its bureaucratic face, regularly addressing press conferences during the initial days after the note-ban move by the government.
His appointment comes at a time when the RBI and the union government are embroiled in a tussle over the autonomy of the central bank and release of excess reserves of the bank. Urjit Patel had on Monday abruptly quit as the RBI governor citing personal reasons but didn’t elaborate on it. He resigned days before the RBI Board meeting slated on December 14.