Ex-RBI Governor Shaktikanta Das Appointed Principal Secretary to PM Modi

Former Reserve Bank of India (RBI) Governor Shaktikanta Das has been appointed as the Principal Secretary to Prime Minister Narendra Modi, a government notification announced on Saturday. His tenure will be co-terminus with the term of the Prime Minister or until further orders, whichever is earlier, as per the notification issued by the Ministry of Personnel, Public Grievances, and Pensions.

Das, a retired Indian Administrative Service (IAS) officer of the 1980 batch, brings with him over four decades of experience in governance, finance, taxation, infrastructure, and economic policy. Having served in key roles at both the central and state levels, his appointment underscores the government’s trust in his expertise and leadership.

Das was instrumental in shaping India’s economic policies, particularly during his tenure as RBI Governor from December 2018 to December 2023. His decisive policy measures during the COVID-19 pandemic were pivotal in stabilizing the economy, ensuring liquidity, and preserving financial stability. His stewardship of the RBI saw the implementation of both conventional and unconventional policy tools to mitigate the adverse economic effects of the pandemic.

Before his appointment as the 25th RBI Governor, Das held significant positions in the Ministry of Finance, where he was actively involved in the preparation of eight Union Budgets. He also served as India’s Alternate Governor in global financial institutions, including the World Bank, the Asian Development Bank (ADB), the New Development Bank (NDB), and the Asian Infrastructure Investment Bank (AIIB). He has represented India in prominent international forums such as the International Monetary Fund (IMF), G20, BRICS, and SAARC.

Das’ leadership in the financial sector has earned him global recognition. He was twice ranked as the top central banker by the US-based Global Finance magazine, reinforcing his stature as a policymaker of international repute.

In a parallel development, the government has extended the tenure of NITI Aayog CEO B.V.R. Subrahmanyam by one year, beginning February 24, 2025. A retired IAS officer of the 1987 batch, Subrahmanyam was appointed to the role in February 2023 for a two-year term. His extension highlights the government’s confidence in his vision for policy formulation and economic planning.