Former Economic Affairs Secretary Shaktikanta Das has been selected as the new Governor of the RBI. Mr Das, an IAS officer, was the Government representative to the RBI’s Director Board when demonetisation was announced on November 8, 2016. He firmly stood by the government and was the official spokesperson of the government on demonetisation issues.
Mr Das’ appointment is expected to end the tussle between the Government and the RBI in the medium term. Das is the IAS officer in charge of the RBI after YV Reddy and D Subbrao. Reghuram Rajan and Urjit Patel were not recruits from Indian Civil Service.