
(Image source from: PTI)
The government is expected to renew Shaktikanta Das' term as Reserve Bank of India (RBI) governor for a second time, three people with direct knowledge of the matter told Reuters. This would make him the longest-serving RBI chief since the 1960s. Das was a highly trusted bureaucrat in Prime Minister Narendra Modi's administration before being appointed to lead the RBI in December 2018, when the relationship between the government and the regulator was turbulent. Das' current term is set to end on December 10, and he has already served longer than the typical five-year maximum in recent decades. A further extension would make him the longest-serving RBI governor since Benegal Rama Rau, who held the position for 7-1/2 years between 1949 and 1957. Two government sources said no other candidates are being considered, and no selection committee has been formed, indicating Das' term is likely to be extended for at least another year. The decision is expected to be announced after the completion of the Maharashtra state elections, according to a third source.
The country's election authority has prohibited the governing party from making impromptu hires that could influence voter conduct. The finance ministry, prime minister's office, and central bank did not promptly respond to email inquiries. The three anonymous sources stated that the Prime Minister will make the final determination.