Shaktikanta Das News

Shaktikanta Das Salary: PM Modi is known for maintaining strong ties with key officials, often ensuring their continued involvement in his administration. Shaktikanta Das is one such trusted official. After serving as the Governor of the Reserve Bank of India for six years, he retired in December last year. His appointment as Principal Secretary comes at a crucial time, as the economy grapples with challenges such as trade tensions fueled by US policies, rupee volatility, and an overall slowdown. With his extensive experience in both fiscal and monetary policy—having served as Revenue Secretary and Economic Affairs Secretary in the Ministry of Finance—Das is well-positioned to navigate these economic uncertainties and provide strategic guidance.  

Mr. Das served as the RBI Governor for six years, starting in December 2018.

Outgoing RBI Governor Shaktikanta Das has highlighted the wide-ranging 'consultative approach' and the emphasis on the need for financial inclusion during his 6-year tenure. 

Outgoing Reserve Bank Governor Shaktikanta Das is hopeful that New Governor Sanjay Malhotra would carry forward RBI initiatives like CBDC and ULI, besides promoting financial inclusion.

A 1990-batch IAS officer of the Rajasthan cadre, Malhotra, has more than three decades of experience in public policy with expertise in areas like power, finance, and taxation.

The area covered under wheat has increased to 239.49 lakh hectares compared to 234.15 lakh hectares in the corresponding period of the previous year.

Sanjay Malhotra, the newly appointed 26th Governor of the Reserve Bank of India is a distinguished 1990-batch IAS officer from the Rajasthan cadre.

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. 

Before his role as RBI Governor, Das was a Member of the 15th Finance Commission and served as India's G20 Sherpa. 

3 members of the MPC including Governor Das voted to keep the policy repo rate unchanged at 6.50 percent. 2 members voted to reduce the policy repo rate by 25 basis points.  

The 30-share BSE benchmark Sensex declined 259.67 points to 81,506.19 soon after the announcement. The NSE Nifty also went lower by 87.9 points to 24,620.50.

Announcing the fifth bi-monthly monetary policy for the current financial year, RBI Governor Shaktikanta Das said it has been decided to increase the interest rate ceilings on Foreign Currency Non-Resident Bank deposits or FCNR (B) deposits as per tenors.

Credit line on UPI was launched in September 2023 and was made available through Scheduled Commercial Banks (SCBs). 

The limit for collateral-free agriculture loans was last revised in 2019. 

The RBI has maintained status quo on benchmark interest rate since February 2023.

Experts are of the view that the central bank is likely to opt for status quo on the short-term lending rate (repo), and will possibly tinker with cash reserve ratio (CRR) keeping in mind the mixed economic trends.

Das is now being monitored while there is no immediate official information from the hospital.

The 25th RBI Governor, Das,  was nominated by the Tamil Nadu Government to serve as the Chairman of a Tata Group Company, Titan from 2006 to 2008. 

RBI Governor Shaktikanta Das, announcing the outcome of the three-day Monetary Policy Committee (MPC) meeting said that the repo rate has been kept unchanged at 6.5 percent.

Ajay Seth, Secretary, Department of Economic Affairs and Nagaraju Maddirala, Secretary, Department of Financial Services, also attended the meeting.