Meet Ex-RBI Governor Shaktikanta Das: PM Modi's New Principal Secretary With A Legacy In Financial Leadership
Former Reserve Bank of India (RBI) Governor Shaktikanta Das has been appointed as Principal Secretary-2 to Prime Minister Narendra Modi on Saturday.
This newly created position will run concurrently with the Prime Minister’s term. Das, a retired 1980-batch Indian Administrative Service (IAS) officer from the Tamil Nadu cadre, brings extensive experience in both fiscal and monetary policy.
This move is said to be the Prime Minister’s notion of having an insightful and well-experienced individual play a key role.
He previously served as the Economic Affairs Secretary and Revenue Secretary and represented India in major international institutions.
Also, read| Sanjay Malhotra IAS Next RBI Governor
His tenure as Principal Secretary-2 will last through the Prime Minister’s term or until further orders. Shaktikanta Das retired as RBI Governor in December 2024 after a 6-year term.
Born on February 26, 1957, in Bhubaneswar, Odisha, Das completed his schooling at the Demonstration Multipurpose School in Bhubaneswar.
He earned both bachelor’s and master’s degrees in history from St. Stephen’s College, Delhi University, and was awarded a Doctor of Letters (D.Litt.) by Utkal University in 2021.
In 1980, Das joined the Indian Administrative Service (IAS) in the Tamil Nadu cadre. Throughout his distinguished career, he held significant positions, including:
- Principal Secretary (Industries)
- Special Commissioner (Revenue)
- Secretary (Revenue)
- Secretary (Commercial Taxes)
- Project Director of Tamil Nadu State AIDS Control Society
- District Magistrate and Collector of Dindigul and Kancheepuram districts
- Union Economic Affairs Secretary
- Union Revenue Secretary
- Union Fertilizers Secretary
- Special Secretary in the Department of Economic Affairs, Ministry of Finance
- Joint Secretary in the Department of Expenditure, Ministry of Finance
Das also had a stint with Mahindra Industrial Park Ltd (Mahindra World City), on deputation to a private sector company under Rule 6(2)(ii) of the Indian Administrative Service (Cadre) Rules, 1954.
In addition to his domestic roles, Das represented India at various international forums, including the International Monetary Fund (IMF), the G20, BRICS, and SAARC. He served as India’s Sherpa to the G20 and was a member of the Fifteenth Finance Commission.
Shaktikanta Das served as the 25th Governor of the Reserve Bank of India (RBI) from December 11, 2018, to December 10, 2024.
During his tenure, he focused on financial stability and economic growth, introducing measures to address liquidity concerns in the non-banking financial sector and strengthening the regulatory framework for banks and financial institutions.
He has been honoured with several prestigious awards for his significant contributions to India’s financial sector. In 2020, he received the ‘Central Banker of the Year, Asia-Pacific’ award from The Banker, a London-based magazine.
Also, read| Centre Reconstitutes MPC: Experts Weigh In Ahead Of RBI Rate Review
In 2023, Das was named ‘Governor of the Year’ by Central Banking, a London-based financial journal, for his leadership in managing inflation and effectively navigating India’s banking system during challenging times.
Additionally, he earned an ‘A+’ rating in the Global Finance Central Banker Report Cards for both 2023 and 2024, placing him at the top among central bank governors globally.
