Context:

Recently, the Global Finance magazine released its Central Banker Report Cards 2024, where Reserve Bank of India (RBI) Governor Shaktikanta Das was rated A+ for the second consecutive year. 

More on the News:

• This prestigious recognition places Das among the top three central bankers globally.
• Das shares the A+ rating with Christian Kettel Thomsen of Denmark and Thomas Jordan of Switzerland, highlighting India's roust monetary policy management. 
• Das's consistent A+ rating reflects the RBI's effectiveness in navigating complex economic scenarios, including post-pandemic recovery and global financial uncertainties. 
• The evaluation criteria encompass success in inflation control, economic growth goals, currency stability, and interest rate management, underscoring central bankers' comprehensive challenges. 
• This recognition puts India in an elite group of nations with highly effective central bank leadership, enhancing the country's standing in global economic governance. 

Shaktikanta Das 

• Position: He assumed charge as the 25th Governor of the Reserve Bank of India on December 12, 2018. In 2021, he was given a three-year extension, which is up to December 2024. 

About Global Finance Magazine:

• Founded:  1987
• Headquartered: New York
• It has a circulation of 50,050 and reaches readers in 163 countries.
• The Primary mission of the magazine is to help corporate leaders, bankers and investors chart the course of global business and finance. 
• Since 1994, The Central Banker Report Cards evaluate governors from nearly 100 countries, territories, and districts, including the European Union and regional central banks.
• The Global Finance Annual Central Banker Report Card honors bank leaders whose accomplished strategies outperform their banking peers through originality, creativity and tenacity.
• Grades are based on success in inflation control, economic growth goals, currency stability, and interest rate management, using an "A+" to "F" scale.
• The magazine caters to senior corporate and financial officers at multinational companies and financial institutions.

Key Contributions:

• Spearheaded RBI’s response to economic challenges, including inflation control and financial stability during global economic uncertainties (COVID).
• Played a pivotal role in managing India’s monetary policy, ensuring the stability of the Indian rupee, and effectively navigating the economic impacts of global disruptions.
• Advocated for digitization in banking and financial inclusion initiatives.

Background:

• A retired Indian Administrative Service (IAS) officer from the 1980 batch.
• Served as Economic Affairs Secretary (2015-2017) under Finance Minister Arun Jaitley, where he was instrumental in major financial reforms including the implementation of GST.
• Member of the 15th Finance Commission and India’s Sherpa to the G20.
• Education: Holds a Master’s degree in History from Delhi University, a Financial Management course from IIM-Bangalore, and mid-career training at IIM-Ahmedabad.