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Shaktikanta Das: Rupee’s Messiah

Not a conventional economist with degrees from global universities, the RBI governor is seen as the man who did not let things go out of hand during the Covid-19 period. With an eye on the evolving global situation, he is the man India watches on inflation, the value of rupee, virtual currency and the general economic stability

Photo: Jitender Gupta

Former finance secretary Shaktikanta Das was dismissed as a yes-man of the Union government when, in 2018, he was appointed as the governor of the Reserve Bank of India (RBI) without having a degree in economics. The last time India had a non-economist as the RBI governor was 28 years before that—Sri Venkitaramanan, another finance secretary, was made the RBI governor in December 1990 and served for two years. Das’ master’s in history was seen a handicap in steering India’s central bank in a financial system that has increasingly become complex over the last three decades.