Shaktikanta Das has been re-appointed as governor of the Reserve Bank of India (RBI) for another three years, the country’s cabinet appointments committee announced late on Thursday.
Das was appointed the 25th RBI governor in December 2018 for a three-year term.
If he serves the full six-year term, he would become the longest-serving RBI governor in almost seven decades. Das was previously the Department of Economic Affairs secretary at the Finance ministry.
“The reappointment signals continuity of monetary policy and gives greater stability to government-RBI relations,” Barclays analyst Rahul Bajoria said. It is a “sign of continued trust from the government”, he added.
To shore up the economy against the impact of the Covid-19 pandemic, the central bank has cut key interest rates to record lows and infused massive rupee liquidity into the banking system.
“After an 18-month long battle, there are signs – and I repeat signs – that the world is emerging from the shadow of coronavirus,” Das said in a September speech.
“As we emerge from the present crisis and look beyond, this is the right time to step back a little and plan for an economy which is stronger, more inclusive and sustainable.”
He added that India needs “a big push to infrastructure particularly in areas of health, education, low carbon and digital economy in addition to transport and communication”.
• George Russell
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