Outgoing RBI Governor Shaktikanta Das will Demit office today. Das has been a part of many major developments and projects in the country. He has now completed his tenure as the 25th RBI Governor.
He announced this through his post on his X handle. He mentioned that “Will demit office as Governor RBI later today. Thank you, everyone, for your support and good wishes.”
Will demit office as Governor RBI later today. Thank you everyone for your support and good wishes.(1/5)
— Shaktikanta Das (@DasShaktikanta) December 10, 2024
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Through his post, he also thanked the entire team of RBI. He further mentioned that “A BIG thank you to the entire Team RBI. Together, we successfully navigated an exceptionally difficult period of unprecedented global shocks. May the RBI grow even taller as an institution of trust and credibility. My best wishes to each one of you.”
A BIG thank you to the entire Team RBI. Together, we successfully navigated an exceptionally difficult period of unprecedented global shocks. May the RBI grow even taller as an institution of trust and credibility. My best wishes to each one of you. (5/5)
— Shaktikanta Das (@DasShaktikanta) December 10, 2024
Who Is Shaktikanta Das?
Shaktikanta Das is a 1980 batch IAS officer. In his 38-year carrier, he has served in both central and state government. Das was part of the important team formed during demonetization in 2016. He earned his master’s degree in History from St Stephen’s College in Delhi. Apart from this he also holds a Postgraduate degree in Public Administration from Birmingham University.
He was one of the members of the team and was aware of the demonetization that was going to be held in 2016. During that time Das was serving as Secretary of Economic Affairs. The team was led by Hasmukh Adhiya, who was the revenue secretary.
Apart from Das, the then RBI Governor Urijit Patel & Secretary of Investments and Currency Saurabh Garg were also part of this team, as per reports by the Economic Times. Demonetization was announced by PM Narendra Modi on November 8, 2016. This was the time when the country faced a struggle regarding the currency. People were seen in queues to get money from ATM. The government stated their move as an action to deal with black money.
Shaktikanta Das has served as the Governor of the Reserve Bank of India during the phase when the country was dealing with COVID-19. This was the phase when the country faced inflation, which made many people jobless. He handled the policies during this period.
He was the man behind the rollout of the GST. Das, played a major part when multiple taxes get converted into one ‘GST’. This came into function on July 1, 2017.
Shaktikanta Das took over as RBI Governor in December 2018, after the then RBI Governor Urjit Patel resigned from the post. When appointed as Governor of the Reserve Bank of India his main focus was on financial stability, dealing with inflation, and working for the economic growth of the nation. During Das’s tenure, the RBI introduced various things to support the economy of the nation.
After he took charge of the office in Mint Street, his move and decisions helped the market to grow further. Hardly one year after he took charge as the Governor of RBI, the world and nations were hit by COVID-19.
Also Read: Shaktikanta Das Highlights 6 Key Challenges For The New RBI Governor – What Are They?
