RBI Governor Shaktikanta Das Does An Encore!

 
The Reserve Bank of India Governor Shaktikanta Das seems to be on a roll. For the second consecutive year, the 67-year old Das has been ranked as the top central banker globally by the US-based Global Finance magazine. The RBI tweeted, “Happy to announce that for the 2nd consecutive year, RBI Governor @DasShaktikanta has been rated ‘A ‘, in the Global Finance Central Banker Report Cards 2024.” Prime Minister Narendra Modi congratulated him. Mahindra Group chairman, Anand Mahindra tweeted saying “Shakti has won a gold medal in the Central Bank Olympics” and added “his parents have named him suitably.” Das has emerged as one of India’s most effective RBI Governors bagging the international rating recognition. Sources say, this recognition is a silent rebuttal to Doubting Thomases who compared Das with past RBI Governors who were economists like Raghuram Rajan and Urjit Patel against Das’s history specialisation and his unassuming personality. But, Das has quietly walked the talk. The recent global recognition essentially means Das’s strategy has outperformed his peers. The report card said Governor Das achieved this through his domain knowledge, originality, creativity, tenacity in handling India’s inflation control, economic growth, currency stability, interest rate management. Being a seasoned bureaucrat — he was Economic Affairs Secretary, Revenue Secretary before he became a regulator — he did not fall into the usual trap of challenging the government of the day. He quietly let his work speak and the market has always given him thumbs up. His term ends in December 2024 and speculations are rife whether he will get a second extension.