Shaktikanta Das, the newly appointed 25th governor of the Reserve Bank of India (RBI), has allayed fears about the rift between the central and bank and the government and said he would do everything to uphold core values and autonomy of the RBI. "It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years", read his statement on the Reserve Bank of India (RBI).
Urjit Ravindra Patel who recently resigned as India's Central Bank Governor was born in Kenya, Kenyans.co.ke has established. "Banking is an important segment in our economy and it's facing several challenges that need to be dealt with". He said there should be free and fair discussion between the RBI and the government.
Sources said Das' name was among a shortlist of three candidates discussed in a hastily convened meeting of the Financial Sector Regulatory Appointment Search Committee on Monday evening, hours after Patel's resignation. "Govt is not just a stakeholder but also runs the country, economy&manages major policy decisions".
The governor was the face of one of the Narendra Modi government's most controversial policies - the abolition and replacement of high-value bank notes in an attempt to crack down on black money. "I will try my best to work with everyone and work in the interest of Indian economy", Das said at his first news conference after taking charge on Wednesday. Das also plans to meet chiefs of private banks later.More news: USA investment banks see low oil prices despite OPEC cut
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The measures, which impose stringent restrictions on lending money, are meant to help the banks get over their burden of non-performing assets, i.e. loans that have gone bad.
"Das has been a very senior and an experienced civil servant".
"The issue of liquidity also comes up in the media space and the public space from time to time".