Indian appoints Ex Finance Secretary as RBI Governor |
The Narendra Modi government on Tuesday appointed former finance ministry official Shaktikanta Das as governor of the Reserve Bank of India, a day after former central bank head Urjit Patel resigned abruptly. Das is a former finance secretary and current member of the 15th finance commission. He is a 1980 batch IAS officer from the Tamil Nadu cadre and currently also represents India at the G-20 in a role of a Sherpa. Das was the economic affairs secretary till May 2017. Hehas been given a three-year-tenure. The first order of business for Das will be the upcoming RBI board meeting on December 14 where discussion over hot-button issues such as the size of the central bank`s balance sheet and its governance structure will take place. He was in news in 2016 when he became the bureaucratic face of demonetization in the weeks following the note-ban decision. He had pushed the Centre`s line that banning Rs 500 and Rs 1,000 notes wouldcrack down on the black economy, reduce counterfeit money and spur digital payments. He was heading the revenue department in the finance ministry before moving him to economic affairs, where he helped lead the charge on demonetization`s implementation in late 2016.
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