Shaktikanta Das Takes Up New Role
In an unexpected yet significant move, Shaktikanta Das, the former governor of the Reserve Bank of India (RBI), has joined Prime Minister Narendra Modi's core team as Principal Secretary-2. This major role sees his appointment intertwined with the Prime Minister's tenure or, unless otherwise directed, as outlined in a government notification dated February 23, 2025.
Das is stepping into this role after a notable stint as the governor of RBI from December 2018 to December 2023. His tenure laid the groundwork for navigating India's economy through numerous challenges, stabilized the financial path during the shadow of the COVID-19 pandemic, and implemented a variety of monetary policies. The efforts under his leadership played a significant part in safeguarding financial stability and supporting economic recovery.
Challenging Times at RBI
During his time at the helm of the RBI, Das orchestrated a range of strategic measures aimed at maintaining market liquidity and boosting the nation's economic revival post-pandemic. Under his watch, the central bank took a proactive stance with regulatory policies that addressed immediate financial threats and encouraged growth, demonstrating his deep understanding of India's economic maze.
Beyond his tactical expertise, Das's leadership was crucial in restoring confidence within various financial sectors, helping banks' liquidity issues, and promoting systemic resilience. These policies were not just reactionary but also forward-thinking, ensuring the financial segments were prepared for future challenges.
A parallel announcement saw an extension of BVR Subrahmanyam's term as the Chief Executive Officer (CEO) of NITI Aayog. A seasoned IAS officer from the 1987 batch, Subrahmanyam continues to steer NITI Aayog with an extended term starting February 24, 2025.
The move to extend Subrahmanyam's tenure reflects ongoing confidence in his capacity to drive key policy-making initiatives within India's pivotal government think tank. Initially brought on board in February 2023, his extended presence aims to see through crucial projects that align with national priorities.
Both appointments underscore a continuity of leadership at a time when India is strategically positioning itself toward unprecedented economic and developmental goals.