- A day after Urjit Patel resigned from his post as the Governor of Reserve Bank of India with immediate effect citing personal reasons, Former Economic Affairs Secretary Shaktikanta Das has been appointed as the 25th Governor of the apex bank on December 11, 2018. Mr. Das will have a tenure of three years.
- The Appointments Committee of the Cabinet has approved his name.
Mr Das is currently the Member of the Finance Commission.
- Das, a 1980 batch Tamil Nadu batch IAS officer, took charge as as Union revenue secretary in June 2014.
- As economic affairs secretary from 2015 to 2017, Das has worked closely with the central bank. At present, he is also the government’s representative at the Group of 20 summits.
- Earlier Reserve Bank Governor Urjit Patel had stepped down on December 10, 2018 from his post citing personal reasons. In a statement, Dr. Patel had said that he was stepping down with immediate effect.
- Dr. Patel had succeeded Raghuram Rajan as the 24th Governor of RBI in September 2016. He had been appointed for a three-year term.
- In the RBI history Urjit Patel is only fourth Governor who has resigned from his post. Other three are: Sir Osborne Smith (1935-1937), Benegal Rama Rau (1949-1957) and S Jagannathan (1970-1975).