Reserve Bank of India (RBI) Governor Shaktikanta Das has been selected as the Central Banker of the Year, Asia-Pacific for 2020 by London based 'The Banker' magazine.
Das has been honoured for managing Indian banking sector faced with a series of challenges such as non-performing loans to issues around fraud, repeated economic slumps, which saw the central bank cut interest rates five times during 2019, and it was open to cutting them again if necessary. Das also brought in measures to tighten the rules around shadow banking. He has also been credited for being proactive in providing assistance to India's smaller banks.
"An environment of macroeconomic stability, as reflected in low and stable inflation, notwithstanding its recent spike that is expected to be transient; a sustainable current account deficit; and rising foreign exchange reserves have contributed towards maintaining financial stability and laying a platform for sustained growth," a statement quoted Das, as saying.