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If reappointed, Das will become the second RBI governor to have his term extended twice.
It is not yet clear whether Shaktikanta Das will receive a full three-year term or a shorter extension.
Governor Shaktikanta Das is expected to continue in his position once his current term ends in December. Das, who has effectively managed the sensitive role, is seen as a strong candidate for an extension.
According to a report by Moneycontrol, people familiar with the situation confirmed that the Ministry of Finance has already recommended Shaktikanta Das’ reappointment to the Appointments Committee of Cabinet (ACC), and a final decision is expected soon.
“It is anticipated that he would continue office for two more years after his current term ends on December 12,” a person with knowledge of the matter told Moneycontrol.
Uncertainty Over Extension Tenure
It is not yet clear whether Das will receive a full three-year term or a shorter extension. However, sources suggest that he may continue in office for another two years beyond his current tenure, which concludes on December 12.
Reports Indicate Continued Tenure
Reuters first reported on November 18 that Das is likely to remain as governor.
Delay Due to Election Code of Conduct
The delay in the reappointment process is partly attributed to the code of conduct in place for state elections in Maharashtra and Jharkhand, which may have postponed the official announcement.
Das Set to Become One of the Longest-Serving RBI Governors
If reappointed, Das will become the second RBI governor to have his term extended twice. Should his tenure extend beyond one year, he will join the ranks of the longest-serving RBI governors in history.
Leadership Recognition
Das succeeded Urjit Patel as RBI Governor on December 12, 2018, and was reappointed for a second term in December 2021. He was recently named the top central banker by Global Finance for the second consecutive year in 2024, with an A+ rating for his leadership in guiding the RBI through challenging economic times.
RBI Governor Shaktikanta Das Hospitalised
Shaktikanta Das was hospitalised in Chennai on November 25 due to issues related to ‘acidity,’ and is now doing fine.
Das was admitted to Apollo Hospital for observation.
“He is now doing fine and there is no cause of concern. He will be discharged shortly,” a medical bulletin issued by Dr R K Venkatasalam, Director Medical Services, Apollo Hospitals, said.
Meanwhile, a RBI spokesperson said, “Das experienced acidity and was admitted to Apollo Hospital, Chennai for observation.” “There is no cause for concern”, the spokesperson added.