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Do you know Shaktikanta Das? Shaktikanta Das, the new RBI lead representative merits praise for having accomplished what was thought to be close inconceivable. His remarkable accomplishment lies in the way that the savings bank of India figured out how to acquire over INR 12 trillion at generally low financing given the emergency the economy is confronting today. Shaktikanta Das, in his career spanning more than 25 years, has had numerous accomplishments. These include serving as the Economic Affairs Secretary, coordinating with different worldwide gatherings on monetary issues, preparing the yearly discourse of the Prime Minister on the condition of the economy, participating in the esteemed G20 Summits, heading the controlling board of trustees, setting up of bad banks, and more. In this blog, we take a walk through the life, education, and career of Mr. Das.
| Age | 64 years |
| Education | Demonstration Multipurpose School St. Stephen’s College(BA, MA) Utkal University(D.litt.) |
| Designation | Governor, Reserve Bank of India |
| Hometown | Bhubaneshwar, India |
| Salary | INR 2.87 lakh per month |
About Shantikanta Das
Shaktikanta Das (born February 26, 1957) is a retired Indian Administrative Service (IAS) officer from the Tamil Nadu cadre from the 1980 batch. He was a member of the Fifteenth Finance Commission and India’s Sherpa to the G20 before becoming the 25th governor of the Reserve Bank of India (RBI). Das worked for the Indian and Tamil Nadu governments in different roles as an IAS official, including as Economic Affairs Secretary, Revenue Secretary, and Fertilizers Secretary. He has also served as India’s Alternate Governor at the World Bank, the Asian Development Bank, the National Development Bank, and the Asian Infrastructure Investment Bank. He has represented India in a number of international forums, including the IMF, the G20, the BRICS, and the SAARC.
Early Life and Education of Shaktikanta Das
Shaktikanta Das is a retired member of the 1980 Indian Administrative Service (IAS), and an official of the Tamil Nadu framework. At present, he is filling in as the 25th governor of the Reserve Bank of India (RBI). Before this, he was a member of the Fifteenth Finance Commission and has also been appointed as India’s Sherpa to the G20. Born in Bhubaneswar, Das was educated at the Demonstration Multipurpose School. Further in his academic career, he acquired bachelor’s (BA) and master’s degrees (MA) in History from St. Stephen’s College at the University of Delhi. He was granted D.Litt. by Utkal University in 2021. He filled in several important posts during his career including Project Director for the Index of Industrial Production (IIP), General Manager at the Ministry of Commerce and Industry, Director in the Ministry of Commerce, Joint Secretary in the Ministry of Civil Supplies, Executive Director in the National Small Savings Fund and as Director at the Institute for Financial Management and Research.
Dissimilar to the conventional brokers, Shaktikanta Das has forever been a sharp scholar and speechmaker. His decade as a teacher at the Indian Institute of Management Ahmedabad had brought him public acknowledgment. He is known for his profound information on both full scale and microeconomics. His striking commitments as Economic Affairs Secretary incorporate the significant choices to attempt the demonetization of Rs. 1000 and Rs. 500 banknotes on 8 November 2016. He was instrumental in presenting the Good and Services Tax that is regularly alluded to as the GST. During his profession, he has likewise had stretches at Asia Development Bank, National Bank for Agriculture and Rural Development, New Delhi Municipal Council, State Bank of India, Canara Bank, and United Commercial Bank.
Career of Shaktikanta Das
Life as an IAS Officer
Das served in different situations for both the Government of India and the Government of Tamil Nadu, as Principal Secretary (Industries), Special Commissioner (Revenue), Secretary (Revenue), Secretary Commercial Taxes, the venture overseer of Tamil Nadu State AIDS Control Society, and as the area justice and authority of Dindigul and Kancheepuram regions in the Tamil Nadu government. He also was the Union Economic Affairs Secretary, Union Revenue Secretary, Union Fertilizers Secretary, Special Secretary in the Department of Economic Affairs of the Ministry of Finance, and a joint secretary in the Department of Expenditure of the Ministry of Finance in the Indian government. He also had a stretch with Mahindra Industrial Park Ltd (Mahindra World City), on assignment to a private area organization under Rule 6(2)(ii) of the Indian Administrative Service (Cadre) Rules, 1954.
Life as a Revenue Secretary
Das was designated Union Revenue Secretary by the top state leader drove Appointments Committee of the Cabinet (ACC) in June 2014, he expected the workplace of Secretary on 16 June 2014 and demitted it on 31 August 2015.
Life as an Economics Affair Secretary
Das was delegated Union Economic Affairs Secretary by the ACC in August 2014, he accepted the workplace of Secretary on 31 August 2015, and let it be known and all the while obsolete from the administration on 28 May 2017, after being allowed a three-month expansion by the public authority. During his residency as Union Economic Affairs Secretary, Das was generally viewed as perhaps the most impressive government worker in India.
Life After Retirement
Post his retirement from the IAS, Das was named an individual from the Fifteenth Finance Commission by the ACC. Likewise, he was delegated as India’s Sherpa to the G20 by the ACC. In December 2018, on his arrangement as the legislative leader of the Reserve Bank of India, Das left his situation in the Fifteenth Finance Commission.
Life as a Governor of Reserve Bank of India
Shaktikanta Das was designated Governor of the Reserve Bank of India by the ACC on 11 December 2018 for a time of three years, supplanting Urjit Patel who had surrendered the other day.
Das’ arrangement as RBI lead representative got for the most part positive reactions. DBS Bank’s head of business sectors for India at Singapore, Ashish Vaidya, saying that past legislative leaders of the RBI with an IAS foundation, like Y. Venugopal Reddy and Duvvuri Subbarao, had been effective and that Das’ “friendly relations with the public authority probably help strategy negotiations.”S. S. Mundra, a previous delegate legislative leader of the RBI, said Das was a “great and adjusted decision” for RBI governorship and had “a decent comprehension of the entire of the monetary area both from the service and furthermore in his communications with the RBI.” A previous Governor of the Reserve Bank of India C. Rangarajan said Das had “insight in financial undertakings” and would “make a decent lead representative”. Gaurav Shah, a senior VP at Geojit Financial Services, said “a name like Shaktikanta Das conveys history, experience, certifications, validity, and regard alongside him.”
Then again, Nobel laureate and teacher at the Massachusetts Institute of Technology, Abhijit Banerjee, said Shaktikanta Das’ arrangement represented a ton of “terrifying” inquiries on the administration of independent public organizations. Subramanian Swamy, an individual from the Bharatiya Janata Party, the biggest party of the National Democratic Alliance, and a named individual from the Rajya Sabha (Council of the States) condemned Das, considering him a “bad individual” at an occasion at the Indian School of Business in Hyderabad.
Das accepted the charge as RBI lead representative on 12 December 2018. Responses of the business sectors to Das’ arrangement were positive, with BSE SENSEX acquiring 629 focuses and NIFTY 50 expanding by 188. As RBI lead representative, Das fills in as the ex-officio director of the Monetary Policy Committee of the national bank. He was presented the ‘National Banker of the Year, Asia-Pacific 2020’ grant by the London-based magazine-The Banker for his endeavors to make the financial framework more hearty
Role of Shantikanta Das as RBI Governor
Das faces a number of issues as governor of the RBI. The banking crisis is imminent, and the schism between the RBI and the government is widening. This career bureaucrat is seen as an insider in the Finance Ministry and may be able to bridge the gap between the two.
Salary of Shantikanta Das
The governor of RBI, Shaktikanta Das, the one who signs on the country’s money notes brings home a measly Rs 2.87 lakh each month.
Lesser known facts About Shaktikanta Das
- Shaktikanta Das realizes various dialects including Odiya, Tamil, Hindi, and English.
- He has over thirty years of involvement as an IAS official.
- He was named as India’s Sherpa to the G20 culmination, held in Hamburg in July 2017.
- Despite the fact that he was an understudy of History, he has managed financial aspects and money all through his vocation.
- He sent off the new Indian cash notes alongside Urjit Patel; after the demonetization of Rs.500 and Rs.1000 money notes.
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