On October 29, the Union Government extended Shaktikanta Das’ term as Reserve Bank of India (RBI) Governor by three more years. If he completes the extended tenure, Das would be the longest-serving governor of the Central bank in about seven decades.
Das’ re-appointment for three years isn’t a surprise. As far as the government is concerned, he has checked all the right boxes as the RBI chief.
A ‘friendly’ RBI Governor
The former economic affairs secretary has been everything the Narendra Modi government wanted in an RBI chief after the controversial stints of Urjit Patel and Raghuram Rajan, which were characterised by constant conflicts between the RBI top brass and North Block (the Finance Ministry).