Shaktikanta Das, former finance secretary, has been appointed as the new Resrve Bank of India (RBI) Governor, according to news agency Reuters. On Monday, Urjit Patel resigned as the RBI Governor, citing “personal reasons”.
Shaktikanta Das is currently a member of the Finance Commission of India, and the government’s representative at the Group of 20 summits. Das worked as former economic affairs secretary from 2015 to 2017. He also worked closely with the RBI.
Urjit Patel's His resignation came three days ahead of a crucial meeting of the board of the central bank that could have discussed issues of growing differences with the government. Soon after his resignation Prime Minister Narendra Modi tweeted saying Patel will be missed "immensely".
"On account of personal reasons, I have decided to step down from my current position effective immediately," Patel said. "It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years."
Das had supported the Modi's demonetisation move, claiming that it would help reduce unaccounted wealth in the economy, bring down the problem of counterfeit money and help push digital payments.