Das Gets Another Term to Lead RBI

The Centre has reappointed Shaktikanta Das Reserve Bank of India governor since December 2018 for another three year term to ensure continuity in policy direction as Asia’s third biggest economy seeks to consolidate a fledging recovery from pandemic induced shrinkage. The decision to reappoint Das 64 was announced late Thursday after the proposal was approved by the appointments committee of the Cabinet. Das now has the task of acclimatising the broader economy with normal liquidity flows after it had become used to surplus funds spawned by an accommodative monetary policy. Under Das, RBI prioritised economic growth over immediate inflation management in the aftermath of the pandemic by slashing interest rates and unveiling a generous bond buying programme measures in lockstep with those taken by central banks in major industrial economies.

The Reserve Bank of India on Friday eased current account rules for Bank exposures less than 5 crore allowing leaders to open current account, cash credit and overdraft facilities without any restrictions.

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