It’s a proud moment for Odisha, as Odisha-born Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), has been named the ‘Governor of the Year’ for 2023 by Central Banking, an international economic research journal based in London. Das was recognized for his instrumental role in implementing critical reforms, leading payment innovation, and steering India through challenging times with resilience and effective communication. During his tenure, which began in 2018, Das successfully navigated significant challenges, including the collapse of a major non-bank firm, the impact of the COVID-19 pandemic, and the inflationary effects of Russia’s invasion of Ukraine in 2022. The statement from Central Banking also highlighted concerns regarding the risk of exposures and potential contagion risks associated with public sector bank loans to companies like Adani Group.
When Das assumed office, India’s financial sector was grappling with the initial waves of the pandemic. Under his leadership, several collapsed non-bank financial companies, including IL&FS, were resolved, leading to substantial improvements in the banking sector. He also oversaw the implementation of liquidity regulations for non-banks and enhanced supervision of major players in the sector. In October 2022, a new regulatory framework based on scales was introduced for non-banking financial companies (NBFCs).
Shaktikanta Das, a retired Indian Administrative Service (IAS) officer from the Tamil Nadu cadre, is the second RBI Governor to receive this prestigious award, following Raghuram Rajan in 2015. He completed his education at the Demonstration Multipurpose School in Bhubaneswar, Odisha. His recognition as ‘Governor of the Year’ reflects his steadfast leadership, successful reforms, and ability to guide India’s financial sector through turbulent times, cementing his position as a key figure in the global central banking community.
It’s a proud moment for Odisha, as Odisha-born Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), has been named the ‘Governor of the Year’ for 2023 by Central Banking, an international economic research journal based in London. Das was recognized for his instrumental role in implementing critical reforms, leading payment innovation, and steering India through challenging times with resilience and effective communication. During his tenure, which began in 2018, Das successfully navigated significant challenges, including the collapse of a major non-bank firm, the impact of the COVID-19 pandemic, and the inflationary effects of Russia’s invasion of Ukraine in 2022. The statement from Central Banking also highlighted concerns regarding the risk of exposures and potential contagion risks associated with public sector bank loans to companies like Adani Group.
When Das assumed office, India’s financial sector was grappling with the initial waves of the pandemic. Under his leadership, several collapsed non-bank financial companies, including IL&FS, were resolved, leading to substantial improvements in the banking sector. He also oversaw the implementation of liquidity regulations for non-banks and enhanced supervision of major players in the sector. In October 2022, a new regulatory framework based on scales was introduced for non-banking financial companies (NBFCs).
Shaktikanta Das, a retired Indian Administrative Service (IAS) officer from the Tamil Nadu cadre, is the second RBI Governor to receive this prestigious award, following Raghuram Rajan in 2015. He completed his education at the Demonstration Multipurpose School in Bhubaneswar, Odisha. His recognition as ‘Governor of the Year’ reflects his steadfast leadership, successful reforms, and ability to guide India’s financial sector through turbulent times, cementing his position as a key figure in the global central banking community.
