TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    why are national parks closed during monsoon?

    Why India’s National Parks Close During the Monsoon; And Which Ones Stay Open

    Saquib Nachan, Alleged ISIS India Chief, Dies After Brain Haemorrhage in Delhi Hospital

    Saquib Nachan, ISIS India Chief, Dies After Brain Haemorrhage in Delhi Hospital

    VP Dhankhar Questions Emergency-Era additions to Constitution

    VP Dhankhar Questions Emergency-Era Additions “socialist” and “secular” to Preamble, Calls Them a Wound

    Prada acknowledges India's traditional intellectual property

    Prada Responds to Controversy Over Kolhapuri Chappals, Acknowledges Indian Footwear Inspiration

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    CDPLC gives MDL a strategic foothold in the Indian Ocean Region

    India’s Strategic Victory : Mazagon Docks acquires majority stake in Sri Lankan Dockyard

    China's Fertiliser Export Halt to India Raises Strategic Red Flags

    China’s Fertiliser Export Halt to India Raises Strategic Red Flags, Prompts Swift Response

    India’s Economic Engine Accelerates

    India’s Economic Engine Accelerates: S&P Projects 6.5% GDP Growth for FY26

    US-Iran Tensions Shake Global Markets

    US-Iran Tensions Shake Global Markets; Oil Prices Surge and Safe-Haven Assets Rise

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    F-35 jet stranded in Kerala

    Grounded British F-35B to Be Shifted to Kerala Hangar for Repairs, UK Confirms

    Indian Navy Was Ready to Strike: A Catastrophic Blow Pakistan Barely Escaped

    Op Sindoor: Indian Navy Was Ready to Strike – A Catastrophic Blow Pakistan Barely Escaped

    UK’s F-35 Jet Grounded in Kerala for 10 Days Over Engineering Glitch

    UK’s F-35 Jet Grounded in Kerala for 10 Days Over Engineering Glitch, No Takeoff in Sight

    CQB carbine

    DRDO and Indian Army Unveil Indigenous CQB Carbine for Urban Warfare

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    How Modi Government Protected India’s Chabahar Investment During Iran-Israel Conflict

    India Did What Others Couldn’t: How Modi Govt Kept Chabahar Port Safe Amid Iran-Israel War

    CDPLC gives MDL a strategic foothold in the Indian Ocean Region

    India’s Strategic Victory : Mazagon Docks acquires majority stake in Sri Lankan Dockyard

    durga temple demolished in bangladesh

    Durga Idol Crushed in Dhaka Demolition; India Condemns Bangladesh’s Assault on Hindu Sentiment

    PM Narendra Modia

    PM Modi Heads to Brazil for BRICS Summit as Putin, Xi Skip Key Global Meet

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    jagannath yatra 2025 begins

    Jagannath Rath Yatra Begins, Millions Join Sacred Procession in Puri

    indian culture as world civilisation

    The Indian Roots of World Civilizations

    death anniversary of shyama prasad mukherjee

    From Sacrifice to Sovereignty: How Modi’s India Is Realizing Shyama Prasad Mukherjee’s Vision

    Rohith Vemula Bill Sparks Outrage Over Flawed Premise and Vote-Bank Politics

    Karnataka’s Rohith Vemula Bill Sparks Outrage Over Flawed Premise and Vote-Bank Politics

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    South Indian cuisine is a celebration of flavour,

    South India’s Guilt-Free Delights: 5 Low-Calorie Snacks That Taste Like Pure Joy

    check how old your aircraft is

    Curious About Your Aircraft’s Age? Here’s How to Find Out in Under a Minute

    brain health boosting exercises

    10 Fun Brain Exercises to Keep Your Mind Sharp and Delay Cognitive Decline

    A Deep Look into Mucormycosis and Throat Cancer

    A Deep Look into Mucormycosis and Throat Cancer

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    why are national parks closed during monsoon?

    Why India’s National Parks Close During the Monsoon; And Which Ones Stay Open

    Saquib Nachan, Alleged ISIS India Chief, Dies After Brain Haemorrhage in Delhi Hospital

    Saquib Nachan, ISIS India Chief, Dies After Brain Haemorrhage in Delhi Hospital

    VP Dhankhar Questions Emergency-Era additions to Constitution

    VP Dhankhar Questions Emergency-Era Additions “socialist” and “secular” to Preamble, Calls Them a Wound

    Prada acknowledges India's traditional intellectual property

    Prada Responds to Controversy Over Kolhapuri Chappals, Acknowledges Indian Footwear Inspiration

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    CDPLC gives MDL a strategic foothold in the Indian Ocean Region

    India’s Strategic Victory : Mazagon Docks acquires majority stake in Sri Lankan Dockyard

    China's Fertiliser Export Halt to India Raises Strategic Red Flags

    China’s Fertiliser Export Halt to India Raises Strategic Red Flags, Prompts Swift Response

    India’s Economic Engine Accelerates

    India’s Economic Engine Accelerates: S&P Projects 6.5% GDP Growth for FY26

    US-Iran Tensions Shake Global Markets

    US-Iran Tensions Shake Global Markets; Oil Prices Surge and Safe-Haven Assets Rise

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    F-35 jet stranded in Kerala

    Grounded British F-35B to Be Shifted to Kerala Hangar for Repairs, UK Confirms

    Indian Navy Was Ready to Strike: A Catastrophic Blow Pakistan Barely Escaped

    Op Sindoor: Indian Navy Was Ready to Strike – A Catastrophic Blow Pakistan Barely Escaped

    UK’s F-35 Jet Grounded in Kerala for 10 Days Over Engineering Glitch

    UK’s F-35 Jet Grounded in Kerala for 10 Days Over Engineering Glitch, No Takeoff in Sight

    CQB carbine

    DRDO and Indian Army Unveil Indigenous CQB Carbine for Urban Warfare

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    How Modi Government Protected India’s Chabahar Investment During Iran-Israel Conflict

    India Did What Others Couldn’t: How Modi Govt Kept Chabahar Port Safe Amid Iran-Israel War

    CDPLC gives MDL a strategic foothold in the Indian Ocean Region

    India’s Strategic Victory : Mazagon Docks acquires majority stake in Sri Lankan Dockyard

    durga temple demolished in bangladesh

    Durga Idol Crushed in Dhaka Demolition; India Condemns Bangladesh’s Assault on Hindu Sentiment

    PM Narendra Modia

    PM Modi Heads to Brazil for BRICS Summit as Putin, Xi Skip Key Global Meet

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    jagannath yatra 2025 begins

    Jagannath Rath Yatra Begins, Millions Join Sacred Procession in Puri

    indian culture as world civilisation

    The Indian Roots of World Civilizations

    death anniversary of shyama prasad mukherjee

    From Sacrifice to Sovereignty: How Modi’s India Is Realizing Shyama Prasad Mukherjee’s Vision

    Rohith Vemula Bill Sparks Outrage Over Flawed Premise and Vote-Bank Politics

    Karnataka’s Rohith Vemula Bill Sparks Outrage Over Flawed Premise and Vote-Bank Politics

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    South Indian cuisine is a celebration of flavour,

    South India’s Guilt-Free Delights: 5 Low-Calorie Snacks That Taste Like Pure Joy

    check how old your aircraft is

    Curious About Your Aircraft’s Age? Here’s How to Find Out in Under a Minute

    brain health boosting exercises

    10 Fun Brain Exercises to Keep Your Mind Sharp and Delay Cognitive Decline

    A Deep Look into Mucormycosis and Throat Cancer

    A Deep Look into Mucormycosis and Throat Cancer

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge
MASHABLE IS A GLOBAL, MULTI-PLATFORM MEDIA AND ENTERTAINMENT COMPANY FOR MORE QUERIES AND NEWS CONTACT US ON THIS EMAIL: INFO@MASHABLEPARTNERS.COM

As Shaktikanta Das nears retirement: A quiet leader who redefined RBI’s legacy with unwavering excellence

TFI Desk by TFI Desk
7 December 2024
in Economy, Opinions
Shaktikanta Das: A quiet leader who redefined RBI's legacy

Shaktikanta Das: A quiet leader who redefined RBI's legacy

Share on FacebookShare on X

“The Pied Piper will play the tune and the RBI will follow. The Inevitable outcome will be that the RBI’s reserves will be used for government doles. Yet another institution will diminish.” Some six years ago, this was the statement made by former Congress leader Kapil Sibal on the appointment of Shaktikanta Das as the Governor of the Reserve Bank of India.

Back then, the ruling PM Modi-led govt was dealing with the impacts of demonetisation, GST implementation and huge NPAs. Fast forward to 2024, things have changed remarkably. India’s financial health is better and the challenges that became a central issue for battle are being tackled smoothly. The cause of this change is undoubtedly, Governor Shaktikanta Das who is set to retire next month, if he doesn’t get another extension. But talking about the successful term of his, it is prudent to trace the history of his appointment and the clashes that took place around the Governor’s appointment.

RelatedPosts

Pakistan Received Chinese Satellite Intelligence During Conflict with India

Why 2025 Must Mark a New Chapter in the Ganga Water Sharing Treaty

India Declines UN Role in Air India Crash Investigation

Load More

Since the first days of the Modi govt in 2014, the Centre tried to boost the economy by taking some bold steps. But the dynamics between the RBI and the govt brought the then RBI Governor Raghuran Rajan and the govt face-to-face. Strictly speaking, it is often in favour of the economy to have a slight tussle over the economic issues like rate cuts between the Governor and the govt. This actually proves beneficial to control inflation.

But the antagonism between Raghuram Rajan and the Modi govt escalated further. While Raghuram Rajan was sceptic in repo rate cuts until the inflation was controlled, the govt wanted to ease the rates to trigger the financial transactions to boost economy. The friction ended with the succession of Urjit Patel in 2016.

At that time, it was believed that with him, the govt will get along well, but he resigned nine months prior to his completion of tenure. Although, Patel managed to keep inflation stable during his tenure, the repo rate, NPAs and policy decisions became key issues that soured his relationships with the govt. He resigned citing personal reasons but it was widely seen as a resulting slugfest between the Centre and Central Bank.

Later, the govt came up with the name of Shaktikanta Das. The Congress, opposition and some economists cane down heavily upon his appointment. They argued that his two predecessors were notable economists and he holds a degree in History and has experience as a bureaucrat. Besides, he as Economic Affairs Secretary came at the helm to defend the demonetisation and steer the monetary situations back then. So, it was stipulated that Das was getting a reward and with lack of a tag of economist, he would “dance to the tune of the govt.” However, six years down the line, Das has astonishigly defied the popular hypothesis.

Forex at all time high under Das?

Under his leadership, the forex reserve of the Central Bank rose to an all time high crossing $700 billion. With a $311 billion expansion, his tenure witnesses the biggest expansion of forex followed by $200 of Dr YV Reddy. This must be counted as a huge achievement as in June 2024, India’s forex reserves were 101 per cent of external debts.

This unprecedented work has earned him an A+ grade in Central Bank Report Cards for two consecutive years 2023 and 2024. Moreover, he has proved to be a master in implementing the Monetary Policy Committes (MPC) framework which was created by his predecessor Urjit Patel. He used it effectively to steer the Indian economy away from inflation by monthly analysis of repo rate.

One of his greatest achievement was how he managed to smoothly run the economy during the Covid-19 pandemic when the world was facing the headwinds. This becomes even more significant given the fact that in last four years, India had seen demonetisation and GST, the biggest structural reform in taxation that daunted the economy.

Through out the pandemic era, India did comparatively better than rest of the world. Similar success was witnessed when the war between Russia and Ukraine started. Since the european countries witnessed the ramifications of war, the sanctions on Russia led to the rise in prices of oil rampantly. The economic headwinds were again defied by India at the skilled hands of Das.

Moreover, one of his biggest achievement is narrowing down the NPA, which has been the biggest issue to which his two predecessors grappled with. As per the June Financial Report this year, the gross NPA declined to 12 year low. It stood at 2.8 per cent at the end of fiscal year 2024. But this is not it as he is also striving to bring a major change by rolling out a framework of Expected Credit Loss (ECL).

Currently, banks keep aside a fund to level the losses only after they happen. But under the ECL that Das wants to bring, the banks will need to be proactive and set aside such funds before the loss would happen. For this, the banks will have to make an estimate of credit default. This would be done through analysing trends of past default while predicting future risks.

This is worth mentioning here that under Das’ administration this has already been rolled out for NBFCs in 2020. Hence, the journey so far has been impressive for Das as his role in keeping economy resilient and Rupee stable has been commendable. As his tenure ends, it is highly expected and is also desirable that he gets an extension, which if happens will make him the longest serving RBI Governor in India’s history.

Tags: IndiaRBIRBI GovernorReserve Bank of IndiaShaktikanta Das
ShareTweetSend
Previous Post

Islamist attacks continue unabashedly on ISKCON: Another Hindu temple destroyed in arson attack

Next Post

A minor Hindutva flaunt by Uddhav faction causes heartburns in I.N.D.I. alliance, SP’s Abu Azmi threatens to do ‘breakup’

Related Posts

CDPLC gives MDL a strategic foothold in the Indian Ocean Region
Business

India’s Strategic Victory : Mazagon Docks acquires majority stake in Sri Lankan Dockyard

28 June 2025

In a historic move, Mazagon Dock Shipbuilders Limited (MDL) has inked a $52.96 million deal to acquire a controlling stake...

China's Fertiliser Export Halt to India Raises Strategic Red Flags
Economy

China’s Fertiliser Export Halt to India Raises Strategic Red Flags, Prompts Swift Response

26 June 2025

In a move perceived as politically motivated, China has disrupted exports of key specialty fertilisers to India, potentially affecting...

India’s Economic Engine Accelerates
Business

India’s Economic Engine Accelerates: S&P Projects 6.5% GDP Growth for FY26

24 June 2025

Backed by a burgeoning middle class, rapid digital adoption, and fiscal discipline, the Indian economy has not only bounced...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

The gulf crossroads: usa stakes, China's money and Iran's nuclear threat.

The gulf crossroads: usa stakes, China's money and Iran's nuclear threat.

00:30:34

HOW NDA IS MAKING IN- ROADS INTO TAMIL NADU?

00:05:57

the ganga treaty is about to expire. What happens next?

00:06:54

India's Rise: Defense and Diplomacy in 2047 Vision

00:22:51

1975 emergency: India's 21 month dictatorship.

00:10:29
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap

©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited