Is RBI Governor Shaktikanta Das Getting Another Term Extension? He Says...

New Delhi: Reserve Bank of India Governor Shaktikanta Das who is nearing the end of his second term, recently avoided a question about his future during a press interaction. When asked about it, he responded, "I am not giving you any headline and I think it is better we stick to monetary policy," during his customary post-policy meeting with reporters at the central bank's headquarters.

Das was responding to a question about whether the government had communicated anything regarding his continuation after his current term ends. Back in 2021, the government had extended his tenure just a month before it was set to expire.

A panel comprising Prime Minister Narendra Modi and Home Minister Amit Shah will be taking a call on appointing the next governor of the RBI. The career bureaucrat-turned-central banker's term is ending on December 10. This is the second three-year-extension granted to Das and he is already one of the longest serving RBI governors in its 90-year history.

The RBI has opted for a status quo on rates for the 11th consecutive time on Friday, amid growing calls to address the slowdown in GDP growth in the July-September quarter at 5.4 per cent. On Friday, Das made it clear that the RBI has been acting as per the flexibility offered by the statutes to the central bank, making it clear that its effort is to keep the inflation horse on tight leash.

Das had assumed office at a very rocky time for the RBI, succeeding Urjit Patel who had decided to quit before the end of his tenure. Over the past six years, Das has dealt with a slew of challenges including Covid-19 and wars in Ukraine and Middle East. He has been awarded as the central banker of the year for two successive terms at global forums for his deft navigation of the fastest growing major economy in the world. (With PTI Inputs)