RBI Governor Shaktikanta Das named 'Governor of the Year' in London's Central Banking Awards

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• Jun 14, 2023 | Guriya Khatun

Das, the 25th governor of the RBI, is a retired Indian Administrative Service (IAS) officer from the Tamil Nadu cadre. 

Digital Desk: Shaktikanta Das,
governor of the Reserve Bank of India (RBI), received the "Governor of the
Year" award at the 2023 Central Banking Awards in London. The
international economic research journal Central Banking is situated in London.

After
Raghuram Rajan, who was accorded the title in 2015, Das is the second RBI
governor to earn the honour. Das "cement[ed] crucial reforms, oversaw
world-leading payments innovation and steered India through trying times with a
steady hand and well-crafted turn of phrase," according to the award's
organisers.

The
organisers went on to say that Das' term, which started in 2018, "has been
marked by a series of grave challenges, starting with the collapse of a major
non-banking firm, moving through the first and second waves of the coronavirus,
and then, in 2022, Russia's invasion of Ukraine and its inflationary impact."

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The
collapse of Infrastructure Leasing & Financial Services (IL&FS) in
September 2018 caused a liquidity crisis in the Indian banking industry,
according to the Central Banking Awards 2023 organisers. "A few other
businesses failed in the ensuing months, including Punjab and Maharashtra
Co-operative Bank, which had heavily lent to an infrastructure finance business
that failed," they claimed.

Das
was also praised by the organisers for "appearing as a voice of calm amid
the fear" during the Covid-19 pandemic. Das' hostility to crypto assets in
India was also mentioned in the organisers' statement.

Das,
the 25th governor of the RBI, is a retired Indian Administrative Service (IAS)
officer from the Tamil Nadu cadre. As the secretary for economic affairs,
revenue, and fertilisers, among other positions, he has served the governments
of the United States and Tamil Nadu.