RBI Governor Shaktikanta Das bids adieu on X, talks of ‘unprecedented global shocks’

Reserve Bank of India (RBI) Governor Shaktikanta Das is stepping down today, December 10. In a series of posts on the social media site X, he expressed gratitude for support from the Prime Minister, Finance Minister, and stakeholders in the financial sector.

“Will demit office as Governor RBI later today. Thank you everyone for your support and good wishes,” Das wrote.

‘Benefitted from PM Modi's Thoughts and Ideas’

Thanking the prime minister, Das added, “Immensely grateful to the Hon’ble PM Narendra Modi for giving me this opportunity to serve the country as Governor RBI and for his guidance and encouragement. Benefited a lot from his ideas and thoughts.”

He also spoke about working with the union finance minister, saying, “Heartfelt thanks to Hon’ble FM Nirmala Sitharaman for her constant support and backing. The fiscal-monetary coordination was at its best and helped us to deal with the multiple challenges during the last six years.”

‘A Difficult Period of Unprecedented Global Shocks’

On the industry bodies, Das thanked them for their inputs and participation, stating: “I thank all the stakeholders in the financial sector and in the economy; experts and economists; industry bodies and associations; organisations in the agriculture, cooperative & service sectors for their inputs and policy suggestions.”

Lastly, he also thanked his colleagues for “successfully navigating an exceptionally difficult period.”

“A BIG thank you to the entire Team RBI. Together, we successfully navigated an exceptionally difficult period of unprecedented global shocks. May the RBI grow even taller as an institution of trust and credibility. My best wishes to each one of you,” he said.

RBI Governor Shaktikanta Das's term ends today

Shaktikanta Das will step down as the 25th RBI Governor today, December 10. He has been among the longest-serving governors of India's central bank, having taken the post in 2019 following the abrupt departure of his predecessor, Urijit Patel.

Notably, even as Union ministers Sitharaman and Piyush Goyal (commerce and industry) had called for rate cuts after GDP growth slowed to 5.4 per cent in the July-September quarter, the Das-led monetary policy committee (MPC) on December 6 stuck to the central bank’s inflation-targeting mandate and held the repo rate steady.

Meanwhile, Revenue Secretary Sanjay Malhotra, a 1990 batch Rajasthan cadre IAS officer with more than three decades of experience in public policy, has been appointed as the next RBI Governor for a period of three years.