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From RBI to Principal Secretary: Modi Appoints Former Governor with IMF Bailout History

Sudeshna Mishra
Browse all articles by Sudeshna Mishra
·1 year ago·4 min read
From RBI to Principal Secretary: Modi Appoints Former Governor with IMF Bailout History

Key Points

Prime Minister Narendra Modi keeps strong relationships with key officials, ensuring their continued roles in his government. Shaktikanta Das, a trusted official, served as the Governor of the Reserve Bank of India for six years and retired in December.


Shaktikanta Das has been appointed as Principal Secretary at a time when the economy is facing challenges like trade issues due to US policies, the rupee's value fluctuating, and an overall slowdown.


He has a lot of experience in managing money and the economy, having worked as the Revenue Secretary and Economic Affairs Secretary.


This makes him a good choice to help guide the country through these tough economic times.

New Delhi, Feb 22: Prime Minister Narendra Modi keeps strong relationships with key officials, ensuring their continued roles in his government. Shaktikanta Das, a trusted official, served as the Governor of the Reserve Bank of India for six years and retired in December.Shaktikanta Das has been appointed as Principal Secretary at a time when the economy is facing challenges like trade issues due to US policies, the rupee's value fluctuating, and an overall slowdown. He has a lot of experience in managing money and the economy, having worked as the Revenue Secretary and Economic Affairs Secretary. This makes him a good choice to help guide the country through these tough economic times.


Shaktikanta Das: Former RBI Governor’s Legacy and Insights

Shaktikanta Das, who was previously the Governor of the Reserve Bank of India (RBI), has now been appointed as the Principal Secretary to Prime Minister, Narendra Modi. He'll be working closely with the PM and helping in important matters. His tenure will be co-terminus with the PM's or untill further orders.


Transformative Leadership: Marking a Distinguished Career at RBI

Shaktikanta Das was the RBI Governor for six years, leading important financial decisions and reforms before retiring in December 2023.


Shaktikanta Das's Vision: Shaping India's Financial Future

In 2017, as the Secretary of Economic Affairs, he was responsible for overseeing the introduction of the Goods and Services Tax (GST). He also managed the effects of demonetization, which involved the sudden withdrawal of high-value currency notes, creating challenges for the economy.


Global Recognition for Shaktikanta Das

Shaktikanta Das has represented India in important international meetings like those of the IMF, G-20, and BRICS. He also played a key role in negotiating India's $22 billion loan from the IMF in 1991.


Shaktikanta Das: Educational Background and Credentials

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Das was born in Odisha in 1957. He studied history at St. Stephen’s College and later got a Master's degree in Public Administration from the University of Birmingham. In 1980, he became a part of the Indian Administrative Service (IAS).


Across Regimes, Shaktikanta Das's Leadership Remains Unshaken 

He was born in Odisha in 1957, he studied history at St.Stephen's College and later pursued a Master's in Public Administration from the University of Birmingham.He joined the IAS in 1980.


Steady Leadership Across Regimes

Shaktikanta Das seamlessly transitiones between the UPA and NDA governments, serving as Economic Affairs Secretary from 2015 to 2017 before joining the 15th Finance Commission


Shaktikanta Das Becomes First RBI Governor to Complete Six-Year Term

Shaktikant Das was the first person after Bimal Jalan to serve in the role of Governor of RBI for six years. During his time as Governor, he made important changes to improve and update India's financial rules and regulations.


Shaktikanta Das Salary

Shaktikanta Das’s total wealth or net worth isn't publicly known.However, as a senior government official, his salary and perks are set by the government. When he was the Governor of the Reserve Bank of India (RBI), he earned around Rs 2.5 lakh per month, plus benefits like housing and travel allowances. Now, as the Principal Secretary to the Prime Minister, he earns a similar salary, which is above Rs 2.5 lakh a month, since his position is on the same pay scale as a Cabinet Secretary.


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