Reserve Bank of India:-

Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), has been awarded the title of Governor of the Year 2023 by Central Banking in London. The award recognizes Das's role in effectively managing inflation and navigating India's banking system during challenging times, such as the COVID-19 pandemic and global economic turmoil.

Das has been commended for his critical reforms and adept handling of India's payments innovation, solidifying his position as a leader who steered the country through difficult circumstances. The award organizers acknowledged his steady hand and well-crafted approach to overseeing vital reforms and guiding India's banking system.

Das was recommended for the award by the publication in March 2023, and he was ultimately recognized for his leadership during times of global turbulence and adversity. He skilfully managed the central bank and the entire banking system amidst challenges posed by the COVID-19 pandemic, the collapse of major non-banking financial companies, and the Russia-Ukraine war.

Taking charge in December 2018, Das faced a liquidity crisis triggered by the bankruptcy of a significant Non-Banking Financial Company (NBFC). This event exposed deficiencies in the business models of several mid-sized banks heavily reliant on NBFCs. Subsequently, other banks, including Punjab and Maharashtra Co-operative Bank, collapsed. However, Das successfully steered India through these challenges.

Furthermore, Das became the second RBI Governor to receive this prestigious award, following Raghuram Rajan in 2015. Under Das's leadership, the RBI implemented crucial reforms, introduced innovative payment systems, and implemented growth-oriented measures during the pandemic. He skilfully balanced Curbing inflation and managing political pressure, demonstrating his ability to lead during complex economic situations.

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