The Reserve Bank of India Governor, Shaktikanta Das was awarded the title ‘Governor of the Year’ for 2023 by Central Banking for his leadership during difficult periods, such as the failure of a significant non-banking company, COVID-19 pandemic, and the inflationary effects caused by Russia’s invasion of Ukraine.
India under Das saw the flourishing of digital payments in the form of UPI with India now becoming the largest real-time payments market. India recorded nearly 50 billion real-time transactions in 2021. The IMF says UPI has averaged growth rates of 160% annually since its launch in 2016.
The National Bank of Ukraine was also awarded the Central Bank of the Year award.