New Delhi: The government has extended the term of Reserve Bank of India Governor Shaktikanta Das by another three years upto December 2024.
Das was appointed the RBI's 25th governor on December 11, 2018, initially for a period of three years.
An official order dated November 28 said the government has reappointed Das as the governor of the central bank for a period of three years beyond December 10, 2021.
The decision was taken by the Appointments Committee of Cabinet headed by Prime Minister Narendra Modi.
With the second term of three years, Das will head the RBI till December, 2024.
Das first took the helm in December 2018 and before that was the department of economic affairs secretary at the finance ministry.
To shore up the economy against the impact of the COVID-19 pandemic, the central bank has cut key interest rates to record lows and infused massive rupee liquidity into the banking system.
With markets now gearing up for the reversal of the ultra-loose monetary policy, stability at the RBI in terms of the top leadership is seen as crucial.
The central bank has taken a more consultative approach with markets under Das who has been keen to have more transparency and direct communication.
