Shaktikanta Das Thanks PM Modi, FM Sitharaman as His RBI Tenure Ends

New Delhi: The outgoing Governor of the Reserve Bank of India (RBI), Shaktikanta Das, will officially demit office today (December 10), signifying the conclusion of his six-year tenure as the 25th Governor of the RBI.

Will demit office as Governor RBI later today. Thank you everyone for your support and good wishes.(1/5)

— Shaktikanta Das (@DasShaktikanta) December 10, 2024

In a series of posts on X (formerly Twitter), Das thanked Finance Minister Nirmala Sitharaman, highlighting the seamless fiscal-monetary coordination during his tenure.

“Heartfelt thanks to Hon’ble FM @nsitharaman for her constant support and backing. The fiscal-monetary coordination was at its best and helped us to deal with the multiple challenges during the last six years,” Das wrote.

Heartfelt thanks to Hon’ble FM @nsitharaman for her constant support and backing. The fiscal-monetary coordination was at its best and helped us to deal with the multiple challenges during the last six years. (3/5)

— Shaktikanta Das (@DasShaktikanta) December 10, 2024

Das also expressed gratitude to Prime Minister Narendra Modi for his guidance and encouragement. He posted, “Will demit office as Governor RBI later today. Thank you everyone for your support and good wishes. Immensely grateful to the Hon’ble PM @narendramodi for giving me this opportunity to serve the country as Governor RBI and for his guidance and encouragement. Benefited a lot from his ideas and thoughts.”

Immensely grateful to the Hon’ble PM @narendramodi for giving me this opportunity to serve the country as Governor RBI and for his guidance and encouragement. Benefited a lot from his ideas and thoughts. (2/5)

— Shaktikanta Das (@DasShaktikanta) December 10, 2024

Shaktikanta Das assumed office on December 12, 2018, following the abrupt resignation of Urjit, who stepped down citing reasons amid reported tensions between the Reserve Bank of India (RBI) and the government concerning fiscal discipline and banking regulations. During his, Das concentrated on achieving a balance between economic growth and inflation management. In his inaugural address, he emphasized his commitment to financial stability — a he pursued diligently throughout his term.

Under his leadership, the RBI reduced the repo rate to an unprecedented 4 per cent and maintained low interest rates for nearly two support an economy grappling with challenges induced by lockdowns.

As the post-pandemic commenced, led the Monetary Policy Committee (PC) in initiating interest rate hikes from May 2022 to mitigate inflationary pressures and avert economic overheating.

His adept handling of monetary policy challenges secured him a year extension in 2021, thereby solidifying his legacy as a leader who effectively balanced inflation control with the promotion of economic growth.

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