Sun Feb 23 06:26:28 UTC 2025: ## Former RBI Governor Shaktikanta Das Appointed as Prime Minister Modi’s Principal Secretary

**New Delhi, [Date of Publication]** – Shaktikanta Das, former Governor of the Reserve Bank of India (RBI), has been appointed as the Principal Secretary to Prime Minister Narendra Modi. The appointment comes just two and a half months after Das completed a six-year term as RBI Governor on December 10, 2024. He will serve in this role until Prime Minister Modi’s tenure ends or further notice.

Das, a 1980 batch IAS officer, brings extensive experience in finance and economic policy to the position. He played a key role in formulating eight budgets during his tenure as Economic Affairs Secretary and Revenue Secretary in the Ministry of Finance. Notably, he successfully managed cash availability during the 2016 demonetization drive, while serving as Economic Affairs Secretary.

Appointed RBI Governor in 2018 following the resignation of Urjit Patel, Das bridged the gap between the government and the central bank, restoring confidence in financial markets. His tenure was marked by effective monetary policy responses, including navigating the economic challenges posed by the COVID-19 pandemic in 2020, and managing inflation amidst the Russia-Ukraine conflict in 2022. His actions, including lowering the repo rate to 4% during the pandemic and subsequently raising it to 6.50% to curb inflation, earned him global recognition and accolades, including the Best Central Banker award for two consecutive years. His three-year term as RBI Governor was extended in 2021.

Prime Minister Modi praised Das’s performance upon the completion of his RBI term. With current global economic uncertainty, a domestic economic slowdown, and capital flight from the stock market, Das’s expertise is expected to play a crucial role in stabilizing the Indian economy in his new position.

Read More