Will try to uphold credibility and autonomy of RBI, says Shaktikanta Das

Former Economic Affairs Secretary Shaktikanta Das Wednesday assumed charge as the RBI Governor. He replaces Urjit Patel who abruptly resigned amid a face-off with the government over issues related to governance and autonomy of the central bank.

"Assumed charge as Governor, Reserve Bank of India. Thank you each and everyone for your good wishes," Das said in a tweet.Shortly after that, RBI Governor addressed a press conference where he pledged to uphold the credibility and autonomy of RBI. 

Shaktikanta Das said, "will try and uphold professionalism, core values, credibility and autonomy of this institution. It’s an honour and great opportunity to serve RBI. I will try my best to work with everyone and work in the interest of Indian economy. Das will be meeting the bank CEOs on Thursday.  Das explained that banking sector is his big priority by saying, "I have convened a meeting with CEOs & MDs of public sector banks tomorrow morning. Banking is an important segment in our economy&it’s facing several challenges that need to be dealt with. It's the banking sector on which I’d like to focus immediately". "He will be also meeting the head of the private sector banks later in the day. 

Das said that he is not looking to make any big decision as of now and needs to settle down in the new role.  Shaktikanta Das said that he is planning to work with all as a team in the best interest of the economy. Regarding the sticky issue of liquidity, Shaktikanta Sas said that he will discuss with all stakeholders and take a call. He said that the board meeting as planned will go ahead on December 14. RBI Governor regarding the role of government in RBI operations said, " Govt is not just a stakeholder, it runs the country & the economy. there has to be free, fair, frank discussions between the govt and RBI". 

Regarding inflation, Das said,"Inflation outlook looks fairly benign at this stage, will be watchful on developments, Inflation target has to be maintained.". Regarding the issue of credit lending RBI Governor refused to give any direct answer and said, "I am open to discuss all issues with PSU bank"

Das, who becomes 25th governor of the RBI, is a former IAS officer of Tamil Nadu cadre.

Jaitley said his appointment was necessitated by the resignation of Urjit Patel as Governor of the RBI on Monday.

"I think, he (Das) has the right credentials. He has been extremely professional, has worked under various governments and has excelled himself. I am sure, in meeting the challenges before India's economy as Governor of Reserve Bank, he will certainly act," the finance minister said. 

With PTI inputs