October 1, 2023

RBI Governor Shaktikanta Das Wins Prestigious Governor of the Year Award from Central Banking, London

Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), has been honored with the esteemed “Governor of the Year” award at the Central Banking Awards 2023 held in London. This recognition reflects his exceptional leadership and strategic decision-making abilities, particularly during challenging times, as he successfully steered India’s central bank through various economic and financial crises.

The Central Banking Awards, organized by the renowned London-based economic research journal, Central Banking, celebrates the outstanding achievements and contributions of central bank governors worldwide. Shaktikanta Das joins the esteemed ranks of previous winners, including Raghuram Rajan, another former RBI governor who received the award in 2015.

According to the award organizers, Das was selected for the “Governor of the Year” accolade due to his significant accomplishments in implementing critical reforms, spearheading groundbreaking innovations in payments systems, and effectively guiding India through turbulent periods with his steady leadership and effective communication.

Throughout his tenure, which began in 2018, Governor Das faced and successfully navigated numerous profound challenges. These included the collapse of major non-banking firm Infrastructure Leasing & Financial Services (IL&FS) in September 2018, which triggered a liquidity crunch in the Indian banking system. Several other firms also experienced collapses in subsequent months, such as Punjab and Maharashtra Co-operative Bank, which had significant exposure to a failed infrastructure finance firm.

Moreover, Governor Das’ leadership during the global COVID-19 pandemic was commended by the organizers. His calm and composed demeanor helped instill confidence and stability in the financial markets amidst the uncertainties caused by the pandemic. Additionally, the statement released by the award organizers highlighted Das’ stance against cryptocurrencies, reflecting his dedication to maintaining the stability and integrity of India’s financial system.

Shaktikanta Das, a retired Indian Administrative Service (IAS) officer of the Tamil Nadu cadre, has a distinguished career, having served in various capacities for both the central government and the Tamil Nadu government. His experience as the economic affairs secretary, revenue secretary, and fertilizers secretary equipped him with valuable insights into economic policies and governance.

Receiving the Governor of the Year award is a testament to Das’ exceptional leadership skills and unwavering commitment to driving India’s economic growth and financial stability. His adept handling of challenges, his ability to communicate effectively, and his forward-thinking initiatives have solidified his reputation as a respected figure in the global central banking community.

As the 25th Governor of the RBI, Shaktikanta Das continues to lead the central bank with dedication and determination, prioritizing the well-being of the Indian economy and its financial systems. His accomplishments and recognition at the Central Banking Awards serve as a source of inspiration not only for his colleagues at the RBI but also for the entire banking and financial community in India and beyond.

The prestigious Governor of the Year award bestowed upon Governor Shaktikanta Das by Central Banking, London, reflects the profound impact of his leadership and underscores the significance of his contributions to India’s financial sector. As the nation progresses under his guidance, Governor Das will undoubtedly play a crucial role in shaping India’s economic landscape and fostering stability and growth.