Amidst election losses, Modi govt appoints DeMo supporter Shaktikanta Das as new RBI Governor

The central government has appointed Former Finance Secretary and current member of the finance commission Shaktikanta Das as the new Reserve Bank of India (RBI) governor. He had supported demonetisation.

Urjit Patel on Monday December 11, resigned from the post of RBI Governor, on account of personal reasons, with immediate effect.

Das(54) is an Indian economist who had served as the deputy governor for three years, shot into the public spotlight  when he became the bureaucratic face of demonetisation in the weeks following the note-ban decision.

Modi brought in Das initially to head up the revenue department and the finance ministry before moving him to economic affairs, where he helped lead the charge on demonetisation in late 2016.

According to a government statement, Das will be given a three-year-tenure.