The tenure of Reserve Bank of India (RBI) Governor Shaktikanta Das is ending today (10 December). Shaktikanta Das was made RBI Governor on 12 December 2018. His tenure was later extended for three years. In his place, the Union Cabinet has appointed Sanjay Malhotra as the new Governor. Sanjay is taking charge tomorrow (11 December). Shaktikanta Das shared his experiences as RBI Governor in a press conference today. Some special things said by Shaktikanta Das during the press conference Remained in the post of Governor for 6 years
Shaktikanta Das remained at the top of India’s central bank for 6 years. During his tenure, Das’s success rate was higher than failure. He pulled India’s financial system out of many challenges. Das’ work during Corona was also highly appreciated. In such a situation, let’s look at 5 works associated with Das’s name… 1. Elected world’s top banker twice in a row
Shaktikanta Das was elected world’s top central banker twice in a row in 2023 and 2024. Shaktikanta Das received A+ grade in Central Bank Report Card 2023 and 2024. This award is given by Global Finance in Washington D.C., USA. Shaktikanta Das was given this honor for control over inflation, economic growth, currency stability and control over interest rates. 2. Kept the economy stable amid Corona pandemic and war
As RBI governor, Das played an important role in keeping the Indian economy stable during the most unstable period for India and the world, crises like Corona pandemic, Russia-Ukraine war and Israel-Hamas conflict. During Corona, under the leadership of Das, RBI implemented new and old economic policies and measures to maintain liquidity and asset quality. 3. Saved Yes Bank and Lakshmi Vilas Bank from collapse
The challenges that Das successfully faced included the ILFS crisis. Due to this, non-banking finance companies (NBFCs) suffered huge losses. He saved Yes Bank and Lakshmi Vilas Bank from collapse. 4. Necessary changes were made in the repo rate to boost growth
When Das took charge in 2018, the repo rate was at 6.50%. Under his leadership, RBI reduced it to 4% to boost economic growth. Later, it was again increased to 6.50% to control inflation. 5. Contribution of banks in reducing NPA and increasing profits
During Das’ tenure, the non-performing asset (NPA) of the country’s listed banks came down to a low of 2.59% by September 2024, while it was 10.38% in December 2018. During this period, the profitability of banks also jumped and banks recorded a profit of Rs 2.63 lakh crore in FY 2023, while in FY 2018, banks had a loss of Rs 32,400 crore. Shaktikanta Das is a 1980 batch IAS officer
Shaktikanta Das is a 1980 batch Civil Services Officer (IAS) officer. He is an officer of Tamil Nadu cadre. Till May 2017, he was the Secretary of Economic Affairs. He became the 25th Governor of the country. When demonetization happened in November 2016, Das was also on the main front. Das has held various positions. He also worked as a member in the 15th Finance Commission. India has been represented in BRICS, International Monetary Fund and SAARC. He is a post graduate from Stephen College, Delhi. —————————————— Read this news too… Sanjay Malhotra will be the new Governor of RBI: Will take charge on December 11, will replace Governor Shaktikanta Das for 6 years The government has appointed Revenue Secretary Sanjay Malhotra as the new Governor of the Reserve Bank of India (RBI). He will be the 26th Governor of RBI and will replace the current Governor Shaktikanta Das. Das’ term is ending on 10 December 2024. Malhotra will take over as Governor from 11 December. The Cabinet has approved the appointment of Sanjay Malhotra today on 9 December. Click here to read the full news…
