New RBI Governor takes charge


Mumbai, Dec 12 (IANS): Former Economic Affairs Secretary Shaktikanta Das on Wednesday assumed charge as RBI Governor after Urjit Patel abruptly resigned from the post amidst a tiff with the government on the central bank's autonomy.

"Assumed charge as Governor, Reserve Bank of India. Thank you each and everyone for your good wishes," the new incumbent said in a Tweet.

Das, who as Economic Affairs Secretary steered the monetary situation post-demonetisation, was appointed the Reserve Bank of India (RBI) Governor on Tuesday.

His appointment came at a time when the government and the RBI are engaged in a tussle over several issues including transfer of the central bank's reserves, over which Patel had reservations after the government hinted at forcing him using provisions of the RBI Act.

Das, a retired 1980-batch IAS officer from the Tamil Nadu cadre, was a member of the 15th Finance Commission of India and India's Sherpa to G20. Having a master's degree from St. Stephen's College, he earlier served as Joint Secretary in the Expenditure Department of the Finance Ministry.

In a development that came as an embarrassment for the government, Patel resigned on Monday citing "personal reasons" even as his various predecessors hinted that the decision was rooted in the recent controversy involving the government and the central bank.

His resignation came against the backdrop of the tiff between the government and the central bank over the liquidity and credit crunch in the economy that provoked an extraordinary meeting of the RBI board on November 19. 

  

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Comment on this article

  • Jossey Saldanha, Mumbai

    Wed, Dec 12 2018

    *Raghuram Rajan*

    Indian Institute of Technology, Delhi [ Director's Gold Medal as the best all-round student)
    Post Graduate Diploma in Business Administration from the Indian Institute of Management Ahmedabad, (graduating with a gold medal for academic performance) .
    Ph. D from Sloan School of Management[8] at Massachusetts Institute of Technology.
    Honorary doctorate by the London Business School in 2012 and by the Hong Kong University of Science and Technology in 2015

    *Urjit Patel*

    Bachelor of Science in Economics from London School of Economics,
    Master of Philosophy in Economics from Linacre College, Oxford
    Doctor of Philosophy in Economics from Yale University.
    Non-resident Senior Fellow at the Brookings Institution since 2009.

    *Shaktikanta Das*

    BA (History)
    MA (History)
    Former bureaucrat

    God Save India 😧😧😧

    Reply Report Abuse

  • steve, mangalore

    Wed, Dec 12 2018

    IAS but from MA in History background!
    Fit for present Government

    Reply Report Abuse

  • Satya, Mangalore

    Wed, Dec 12 2018

    Haudu Basava of Modi and Jaitley. Totally unsuited for the job. He will take RBI to new lows and may be the architect of its destruction.

    Reply Report Abuse

  • HENRY MISQUITH, Bahrain

    Wed, Dec 12 2018

    One of the Architect of Idiotic Demonetisation

    Reply Report Abuse


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Title: New RBI Governor takes charge



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