Reserve Bank of India is one of the institution which is facing a lot of ups-and-downs. There has been rift between RBI and governement for quite a time. Former RBI governors Urjit Patel and Raghuram Rajan have been critical of the governement.
Now, a new RBI governor has been appointed. Shaktikanta Das is new governor of RBI. He is the 25th governor of RBI. He is also former Economic Affairs Secretary and retired from that post in May 2017. He has took over the post after Urjit Patel gave resignation from the same post few days back.
Actually, Urjit Patel had resigned from his post as RBI Governor few days back. He was 24th governor of RBI and stepped down from his post amidst ongoing tensions between Reserve Bank of India and Central government. Demonetisation decision was one of the reason that led to a difference in stands of RBI and government.
Prashant Bhushan tweeted about Shaktikanta Das saying that ‘he was chief spokespman of Modi on demonetization and vigorously defended it.’
It is to note that the previous RBI governors didn’t had ‘cordial relations’ with government due to demonetization decision. And, new governor defended of the same decision. The sudden resignation of Urjit Patel before completing his term, and appointment of Shaktikanta Das within 24 hours raises questions.
Was everything planned? Was Urjit Patel forced to resign under the ‘strenuous circumstances’ as he was not ready to defend government like Shaktikant did?