The Government of India has approved the reappointment of Shaktikanta Das as Governor of the Reserve Bank of India for a period of three years.
- The Appointments Committee of the Cabinet has approved the reappointment of Mr Das. The re-appointment will be effective from 10th December this year or until further orders.
- Shaktikanta Das is not the first governor to have been reappointed. Sri Benegal Rama Rau was the longest serving governor of the RBI. His tenure lasted from July 1, 1949 to July 14, 1957, however, he resigned in mid-January 1957 before his second extended term of office expired.
- Dr Bimal Jalan served as governor of the RBI, first for a period of five years from 1997 to 2002 and again for two years from 2002 to 2004.
About Reserve Bank of India
- The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
- The Central Office of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated.
- Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.
- The Reserve Bank’s affairs are governed by a central board of directors. The board is appointed by the Government of India in keeping with the Reserve Bank of India Act. The Board of Directors is appointed/nominated for a period of four years.
- The Board is constituted by co-opting four Directors from the Central Board as Members and is chaired by the Governor. The Deputy Governors of the Reserve Bank are ex-officio members.
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