19th November 2024: The Government of India is reportedly considering an extension of Shaktikanta Das’s tenure as the Governor of the Reserve Bank of India (RBI). If the extension is approved, Das will set a rare record by serving beyond the typical five-year term, a first for a recent RBI Governor.
Appointed in December 2018, Shaktikanta Das has played a crucial role in shaping India’s monetary policies, especially during the turbulent times of the COVID-19 pandemic and the global economic challenges that followed. Prior to his appointment as RBI Governor, Das was a key official in the Ministry of Finance under the leadership of Prime Minister Narendra Modi.
This potential extension of Das’s tenure reflects the government’s confidence in his leadership. Under his guidance, the relationship between the RBI and the central government has been largely collaborative. Should the extension be granted, Das will surpass the tenure of Benegal Rama Rao, who served as RBI Governor for over seven years from 1949 to 1957.
If extended, Shaktikanta Das will become the longest-serving RBI Governor in recent times, a remarkable feat. His leadership and decision-making during economic uncertainties have garnered significant praise. The extension would provide continued stability to India’s financial landscape, as the country navigates both domestic and global economic challenges.
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