RBI Governor Shaktikanta Das Likely To Secure Third Term: Report

According to the report, the delay in reappointing Shaktikanta Das as RBI Governor may have been caused by the code of conduct in place for the state elections in Maharashtra and Jharkhand

Reserve Bank of India (RBI) Governor Shaktikanta Das is likely to remain in his current role beyond his tenure, which ends in December. Das is regarded as a strong candidate who has effectively managed his sensitive role, According to a Moneycontrol report citing sources familiar with the matter,

At this point, it is unclear whether he will be granted a full three-year term. "It is anticipated that he would continue office for two more years after his current term ends on December 12," said a source familiar with the matter in the report.

Another source mentioned that discussions regarding a possible third term for Das are ongoing, with an announcement likely to come soon.

“A recommendation from the Ministry of Finance for the reappointment of Das as RBI Governor has been furnished to the Appointments Committee of Cabinet (ACC). The final decision on this matter is expected soon,” said another person aware of the matter in the report.

According to the report, the delay in reappointing Shaktikanta Das as RBI Governor may have been caused by the code of conduct in place for the state elections in Maharashtra and Jharkhand. With the election results announced on November 23, a final decision on his reappointment is expected within the next week or so.

Reuters first reported on November 18 that Das is likely to continue as governor. The Appointments Committee of the Cabinet (ACC), which is part of the Prime Minister’s Office, is responsible for handling the appointment of the RBI Governor.

If reappointed, Das would become only the second RBI Governor to have his term extended twice. Should his tenure be extended beyond a year, he would join the ranks of the longest-serving RBI governors.

Das succeeded Urjit Patel as governor on December 12, 2018, and was reappointed for a second term in December 2021 after completing three years. In 2024, for the second consecutive year, Das was named the world’s top central banker by Global Finance and received an A+ rating for his leadership in guiding the RBI through challenging economic times.