In December 2018, Shaktikanta Das took the reins as the 25th Governor of the Reserve Bank of India (RBI), a role that signified a culmination of his extensive career as a seasoned Indian Administrative Service (IAS) officer. His diverse administrative and economic background infused fresh perspectives into his leadership, making his tenure a pivotal chapter in the trajectory of India’s financial landscape.
A testament to his impactful leadership, Shaktikanta Das was bestowed with the esteemed title of ‘Governor of the Year’ for 2023 by Central Banking in London. This recognition resonated with his adeptness in steering the Indian economy through the tumultuous waves of global economic upheavals, safeguarding its stability. Furthermore, his adept handling of policy measures aimed at tackling inflation garnered acknowledgment. This accolade marked a significant milestone, making him the second Central Bank Governor to receive this honor after Raghuram Rajan in 2015.
A defining hallmark of Shaktikanta Das’ tenure was his astute response to the unprecedented challenges posed by the COVID-19 pandemic. As the economy grappled with the pandemic’s reverberations, both he and the RBI executed swift and comprehensive measures. These encompassed the implementation of monetary policies, regulatory adaptations, and initiatives to amplify liquidity, all aimed at cushioning the economic impact and upholding financial stability.
In tune with the ever-evolving contours of the financial sector, Das underscored the paramount importance of technological integration. He actively championed the cause of digital payments and embarked on explorations to introduce a central bank digital currency (CBDC). These endeavors bore the hallmark of his aspiration to modernize the financial framework and elevate financial inclusion, catering to diverse segments of society.