He replaces Urjit Patel, who resigned on Monday citing personal reasons.
A day after the sudden resignation of Urjit Patel, the Modi Government on Tuesday appointed former bureaucrat Shakti Kanta Das as new Governor of Reserve Bank of India amidst tussle between the government and the central bank over several key issues.
Mr. Das has been appointed for a term of three years.Mr. Das, a 1980 batch IAS Officer of Tamil Nadu cadre, is a former Secretary, Economic Affairs in the Ministry of Finance and is currently member of the 15th Finance Commission.
Mr. Das was Economic Affairs Secretary during demonetisation in 2016.
His name was cleared by the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi and subsequently notification was issued by the Department of Personnel and Training.
