New Delhi, December 20
The 612th meeting of the Central Board of Directors of the Reserve Bank of India was held in Guwahati under the Chairmanship of RBI Governor Sanjay Malhotra on Friday.
As per a statement from the central bank, the Board placed on record its appreciation of the valuable services rendered by Shaktikanta Das during his tenure as Governor.
Former RBI Governor Shaktikanta Das has served as the head of the central bank for six years which has ended on December 10.
He steered his central banking roles quite smoothly, particularly during the Covid-19 pandemic years. Shaktikanta Das, a seasoned bureaucrat, previously served as the Secretary of the Department of Revenue and the Department of Economic Affairs under the Ministry of Finance. He assumed office as the 25th Governor of the RBI on December 12, 2018, with his term extended in 2021.
Coming back to today's meeting, the Board reviewed the global and domestic economic situation and outlook, and discussed the activities of select Central Office Departments as well as the draft Report on Trend and Progress of Banking in India, 2023-24.
Deputy Governors Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar, Swaminathan J and other Directors of the Central Board -Satish K Marathe, Revathy Iyer, Prof. Sachin Chaturvedi, Venu Srinivasan and Ravindra H Dholakia - attended the meeting.
Nagaraju Maddirala, Secretary, Department of Financial Services, also attended the meeting.
Sanjay Malhotra, who was serving as the revenue secretary at the Ministry of Finance, was appointed as the new Governor of Reserve Bank of India earlier this month.
The appointment is effective December 11, 2024, and will continue for three years.
RBI Governor Sanjay Malhotra is an Indian Administrative Service Officer of the 1990 Batch Rajasthan Cadre. He is an Engineering Graduate in Computer Science from the Indian Institute of Technology, Kanpur and has a Master's in Public Policy from Princeton University, USA.