When Shaktikanta Das took charge at Mint Road - the 25th governor to do so - he made a promise. "There has to be a free, fair, objective and very frank discussion between the government and the Reserve Bank of India (RBI). I like to believe that all issues, however contentious, can be resolved through discussions." He had moved into the biggest sea-facing room at RBI after two high-profile names signed off, Raghuram Rajan and Urjit Patel, who had some differences with the government. As Das, who took charge as RBI's governor on December 12, 2018, enters the final 10 months of his second term, there's all-round acknowledgement that he has 'walked the talk'.
"His working style is very refreshing. He listens patiently and engages actively with stakeholders. One can articulate an opinion without any apprehension," says Rajnish Kumar, former chairman, State Bank of India. A case in point, Kumar notes, is the deft management of the banking as well as the payments system during Covid-19.
"He stands out for decisive leadership skills. He is quite supportive and engaged closely while working out an arrangement for roping in banks to collectively infuse capital, avert a systemic crisis amid the collapse of YES Bank."
Das hit the ground running, holding meetings with all stakeholders: heads of banks-state-run (in two instalments) and private banks, nonbanking financial companies (NBFCs). And, in a welcome break, with associations of small businesses and trade bodies as well. His messaging was clear: 'I am reaching out to you; I am all ears.' He wrote on Twitter, now X (a first by an RBI governor). In the process, Das buried (largely) the ivory tower tag Mint Road had come to acquire in some quarters of India Inc.
Denne historien er fra February 27, 2024-utgaven av Business Standard.
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Denne historien er fra February 27, 2024-utgaven av Business Standard.
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