The Indian government named the Reverse Bank of India Governor or new central bank chief.
RBI or Reserve Bank of India Governor name is now announced and Shaktikanta Das will be the new central bank chief. He is the former senior finance ministry official. In addition, he also played the key role in the Indian PM Narendra Modi demonetization scheme 2016.
Shaktikanta Das also worked with several government bodies. In addition, he was also involved with the economic affairs ministry when Indian PM revealed the controversial cash ban that made scrap 86 percent of notes on immediate basis.
Earlier, Urjit Patel, Reserve Bank of India (RBI) governor resigned after getting involved in the public spat with Modi’s government. However, India central bank chief said that he took the decision due to the personal reasons.
According to sources, he was annoyed by the interference of government to influence the central bank policy. It comes after Patel’s representative, Viral Acharya, cautioned the administration in an emphatic discourse in October that undermining the bank’s freedom could be “conceivably calamitous”.