The Appointments Committee of the Cabinet has appointed Shakti Minister Narendra Modi as Principal Secretary -2.
In an official announcement on Saturday, the ACC said that the appointment of DAS would be effective from the day he assumes the post. The period of his tenure will be co-terminus with the Prime Minister or till further orders.
Das will work as the second principal secretary, with Dr. PK Mishra will first serve as Principal Secretary.
On 10 December, the DAS retired as the Governor of the 25th Reserve Bank of India, serving the post for about six years. Till then Sanjay Malhotra, who worked as Revenue Secretary Department, was appointed as his successor to the central bank.
As the head of RBI, Das helped navigate India’s financial system to Kovid -19 epidemic. Under that, the regulator temporarily reduced poor debt recognition requirements and also provided special liquidity windows to lenders who dealt with small values ​​borrowers. The DAS has been widely recognized to bring strict supervision of banks and other regulated institutions during its tenure.
While RBI managed inflation well under DAS, in its last lap as governor, retail inflation dissolved several times for 4% of the central bank. The Monetary Policy Committee headed by DAS had to write an explanatory note for three consecutive quarters after being above 6%tolerance mark. This was the first time MPC wrote such an explanation since the introduction of the inflation targeting structure in 2016.
Born in 1957 in Odisha, Das graduated in history from the prestigious St. Stephen’s College in New Delhi and a master’s degree. He is an IAS officer from the 1980 batch of Tamil Nadu cadre and holds several important positions in the state and central governments.
DAS led the implementation of major reforms including goods and service tax in India, reconstruction of public sector banks and cohesive and insolvency and insolvency code. He has represented India in the International Monetary Fund, G20 and BRICS.
(Tagstotranslet) Shaktikanta Das
