The government has extended the term of Reserve Bank of India Governor Shaktikanta Das by another three years upto December 2024 , PTI reported on Friday, citing an official order. The decision was taken by the Appointments Committee of Cabinet headed by Prime Minister Narendra Modi.
Das was appointed as the 25th governor of the central bank on December 11, 2018, for a period of three years. His tenure was scheduled to end on December 10 this year. He took over the Reserve Bank of India after Urjit Patel resigned before the end of his term, citing personal reasons.
Das, 64, is a retired Indian Administrative Service officer. He has previously served as the revenue secretary and the economic affairs secretary in the Ministry of Finance. He is the first RBI governor to have been reappointed under the Modi-led government’s regime. Patel’s predecessor Raghuram Rajan had decided to return to academia after his term ended in September 2016.
Both Patel and Rajan had left the central bank amid speculation of growing differences with the Union government.