Trusted old hand Shaktikanta Das named RBI governor ahead of board meeting

Newly appointed Reserve Bank of India governor Shaktikanta Das interacts with the media at the RBI headquarters in Mumbai Wednesday

Newly appointed Reserve Bank of India governor Shaktikanta Das interacts with the media at the RBI headquarters in Mumbai Wednesday

"So, tomorrow morning (December 13), I propose to undertake an consultation with managing directors and chief executive officers of the public sector banks, who are based in Mumbai and then may be after another few days I will hold a consultation with the chiefs of public sector banks, which are located outside Mumbai". Das, who was appointed 25th governor of the Reserve Bank of India (RBI) on Tuesday, will now have his signature on all the banknotes that are printed during his three-year tenure. He also claimed that it is only the banking segment that is facing several challenges now that need to be solved as soon as possible. He said, "The Government acknowledges with deep sense of appreciation the services rendered by Dr Urjit Patel to this country both in his capacity as the Governor and the Deputy Governor of the RBI", while adding, "It was a pleasure for me to deal with him and benefit from his scholarship". He said he planned to host a meeting with a number of bank chiefs on Thursday to immediately address the needs of the sector. As the most visible and vocal bureaucrat at the time, Das often came under fire. "Great memories of this day past year". He has been extremely professional, has worked under various governments and has excelled himself.

"Heartening to know that inflation is on target with a benign outlook", Das added. "However, we have to be very watchful of the developments".

"I will try and uphold professionalism, core values, credibility and autonomy of this institution", Das said on Wednesday.

The maintenance of the growth trajectory of the Indian economy is also important. All these issues have been under focus. In the last policy review earlier this month, the central bank left the key interest rate unchanged at 6.5% but reduced inflation projection sharply.

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