RBI Governor Shaktikanta Das' Tenure May Be Extended; Decision Likely After Maharashtra Poll: Report

The government may extend the term of Reserve Bank of India ( RBI ) Governor Shaktikanta Das, a Reuters report said on Monday. According to the report, three sources told the agency that the government is poised to give a third term to Das. The move would make Shaktikanta Das the longest-serving RBI Governor since the 1960s.

RBI Governor Shaktikanta Das' current term to end on December 10

Das' current term is slated to end on December 10, days after the forthcoming Monetary Policy Committee (MPC) meeting. Previously, Benegal Rama Rau served as RBI Governor for 7.5 years between 1949 and 1957. According to the Reuters report, no other candidates are being considered for the post.

Extension of term for RBI Governor Shaktikanta Das: Decision likely after Maharashtra elections

The report further cited that the decision to extend Shaktikanta Das' tenure for a third consecutive term may be announced after the ongoing election season in Maharashtra. The decision, it is believed, may be taken by the Prime Minister's Office - the Reuters report said, adding that a response to the email is awaited from the PMO, Finance Ministry, as well as RBI. If approved, the extension of tenure could be for one year.

Shaktikanta Das: Profile

Formerly a Secretary in the Department of Revenue and Department of Economic Affairs, Ministry of Finance, Das was appointed as the 25th Governor of the Reserve Bank of India effective December 12, 2018. Das also served as India’s Alternate Governor in the World Bank, Asian Development Bank (ADB), New Development Bank (NDB) and Asian Infrastructure Investment Bank (AIIB). He represented India in international fora like the IMF, G20, BRICS, and SAARC among others. Das is a postgraduate from St Stephen’s College, Delhi University