In a series of posts on the social media site X, outgoing Reserve Bank governor Shaktikanta Das has expressed gratitude for support from the Prime Minister, Finance Minister, and the stakeholders in the financial sector.
“Will demit office as Governor RBI later today. Thank you everyone for your support and good wishes,” Das wrote.
He also spoke about his experience of working with the union finance minister, saying, “Heartfelt thanks to Hon’ble FM Nirmala Sitharaman for her constant support and backing. The fiscal-monetary coordination was at its best and helped us to deal with the multiple challenges during the last six years.”
Das thanked the industry bodies for their inputs and participation, stating: “I thank all the stakeholders in the financial sector and in the economy; experts and economists; industry bodies and associations; organisations in the agriculture, cooperative & service sectors for their inputs and policy suggestions.”
“A big thank-you to the entire Team RBI. Together, we successfully navigated an exceptionally difficult period of unprecedented global shocks. May the RBI grow even taller as an institution of trust and credibility. My best wishes to each one of you,” he said.
Shaktikanta Das will step down as the 25th RBI Governor today. He has been among the longest-serving governors of India's central bank, having taken the post in 2019 following the abrupt departure of his predecessor, Urjit Patel.
Notably, even as Union ministers Sitharaman and Piyush Goyal had called for rate cuts after GDP growth slowed to 5.4 percent in the July-September quarter, the Das-led monetary policy committee (MPC) on December 6 stuck to the central bank’s inflation-targeting mandate and held the repo rate steady.
Revenue Secretary Sanjay Malhotra, a 1990 batch Rajasthan cadre IAS officer with more than three decades of experience in public policy, has been appointed as the next RBI Governor for three years.
(By arrangement wtih livemint.com)
