Reserve Bank of India Governor Shaktikanta Das has been awarded the Governor of the Year title. Financial publisher Central Banking awarded the title to Das. The central banking lauded Das for overseeing challenging reforms and world-leading innovation.
Central banking staff wrote, “Das has defended the reform process and taken it forward himself. The Bankruptcy Code was rejected by the Supreme Court in its earlier decision but Das played an important role in implementing this code. He restructured banks to increase liquidity, set up a supervision department in the RBI, and established the College of Supervision to train the next generation. ,
The Central Banking had awarded former governor Raghuram Rajan with the title of Governor of the Year in 2015. Central Banking Publications is the financial publisher. It specializes in public policy and financial markets.
According to Central Banking, “The most important contribution of Das was to manage during the crisis (Covid). He appeared as a voice of calm in an atmosphere of fear. He skillfully guided the RBI during extreme political pressure on the one hand and economic disaster on the other.” RBI had brought down interest rates to record lows during the Kovid crisis.
This increased the cash in the banking system. During this, government bonds were purchased under an unprecedented programme. Banks were also given some relaxation in the restructuring of bed loans.
According to the publication, ‘The risk of non-performing assets was high during the pandemic but India recovered faster than any other country in the world.’
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