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Das wraps up RBI tenure
Mint Mumbai
|December 10, 2024
Much of Das’s tenure was marked by actions that earned him acclaim, but challenges arose in his second term
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Shaktikanta Das will step down as the 25th governor of Reserve Bank of India (RBI) on Tuesday, at a time when the war on inflation is ongoing and economic growth has taken a sudden slow turn.
Union ministers Nirmala Sitharaman (finance) and Piyush Goyal (commerce and industry) had called for rate cuts after GDP growth slowed to 5.4% in the July-September quarter. But Das stuck to the RBI's inflation targeting mandate and held the repo rate steady on 6 December following his last meeting with the central bank's monetary policy committee (MPC).
Das, one of RBI's longest-serving governors, took charge in 2019 following his predecessor Urijit Patel's sudden departure.
One of his first actions was to set up a committee to review RBI's economic capital framework. Following the recommendations of the committee, the RBI has been transferring its surplus to the Centre each year.
This story is from the December 10, 2024 edition of Mint Mumbai.
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