RBI Governor Shaktikanta Das has been chosen as the Central Banker of the Year for the Asia Pacific Region by TheBanker magazine .
“India’s banks have faced a series of challenges, from non-performing loans to issues around fraud. Repeated economic slumps saw the central bank cut interest rates five times during 2019, and it was open to cutting them again if necessary,” the magazine said. Faced with these challenges, Mr. Das has taken steps to bring banking in India up to standard via a restrained approach to governance,” it said.
“The recent spike [in inflation] is expected to be transient; sustainable current account deficit and rising [forex] reserves have contributed towards maintaining financial stability, laying a platform for sustained growth,” Mr. Das had said.
