Shaktikanta Das Appointed New RBI Governor

Former Finance Ministry official Shaktikanta Das has been appointed as Governor of the RBI, after Urjit Patel’s abrupt resignation a day before.

Sources say SEBI chairman Ajay Tyagi’s name was also in the reckoning. 

Das will have a term of three years.

Das was the public face of demonetization when as economic affairs secretary he used to hold daily press conferences. He has held Revenue department too in the Finance Ministry.

While Das has worked with Arun Jaitley, he has also worked with his predecessor P Chidambaram, and is known to have a good rapport with him.

The appointment however raises questions whether the RBI will manage to exercise independence it’s expected to.