Former economic affairs secretary Shaktikanta Das has been appointed as the new Governor of the Reserve Bank of India (RBI), notified an order from the Department of Personnel and Training Monday.
Union Finance Ministry has confirmed the appointment in its tweet as well.
Das is an IAS officer from 1980 batch of Tamil Nadu cadre and will hold the post for a three-year term. He had been associated with Life Insurance Corporation of India as its director. He is also a member of the 15th finance commission.
His appointment for three years has been approved by the Appointments Committee of Cabinet (ACC).
Shaktikanta Das will be joining RBI following the resignation of Urjit Patel as the RBI governor who resigned on Monday.
“This was more or less expected. His name was doing the rounds. The only challenge for him will be to explain the change in the stance of the Reserve Bank if any from here on,” said Madan Sabnavis, Chief Economist at CARE Ratings