Shaktikanta Das who played a prominent role during Demonetization and also close associate to Arun Jetly is going be the Chief of Reserve Bank of India.
After the vacation of the potion by Urjit Patel there is a Gap for the crucial position of RBI Governor. Having good exposure towards the fiscal policies and also monetary regulation he is the probable candidate to be appointed as he is currently finance commission member and former economic affairs secretary.
Who is Shaktikant Das?
Tamil Nadu Cadre IAS Officer who retired in the year 1980 has been in very good terms with the central government which is the advantageous situation for his to occupy the term. He currently is a member of the Fifteenth Finance Commission of India, and India’s Sherpa to G20.
Still no official confirmation has been made but the buzz around the media and economic affairs is going in favor of Shaktikant Das.
Why New RBI Governor?
Urjit Patel has resigned stating the reason of personal issues for vacating the position, but subsequently Ex-Governor of RBI Raghuram Rajan has thrown a harsh arrows against the Polices of Modi that could be the reason for the resignation of Urjit Patel. There has been high tension arising due to the intervention of Government in the Institutional Policies & Rules, Government has been demanding to transfer RBI reserve funds to government which is leading to the failure of Institutional structure. Following these sequences of instances it is a big question on who will be the next Governor of Reserve bank of India. Further the Governor has to be neutral and should not be biased to take any decision.