There is much at the stake for the RBI and its prolonged battle for autonomy. At this crucial juncture, all eyes are on Shaktikanta Das, former economic affairs secretary and the face of Prime Minister Narendra Modi’s demonetisation move, who was on Tuesday appointed the new RBI governor, a day after incumbent Urjit Patel resigned abruptly, citing personal reasons.
Hours after taking over the top post of RBI, Shaktikanta Das to hold first press conference at 4 pm.
Former Economic Affairs Secretary #ShaktikantaDas on Wednesday assumed charge as the #RBIGovernor. He replaces #UrjitPatel who abruptly resigned amid a face-off with the government over issues related to governance and autonomy of the central bank.https://t.co/9OSSGjxrff
For the Reserve Bank of India's newly appointed Governor Shaktikanta Das, the December 14 Board meeting of the central bank will be the first litmus test on whether he speaks his own mind or merely portrays himself as his master's voice.
There is clamor over government wanting RBI to go easy on PCA norms
10:3412 Dec 2018
Markets zoom on Das' appointment
The 30 share BSE Sensex closed 629 points, or 1.79%, up after the day's at 35,779 points. The broader index, 50-share NSE Nifty also jumped by 188.45 points to close at 10,737.