CURRENT AFFAIRS

Detailed explanation-1: -"The reappointment of Governor Shaktikanta Das for a three- year term signals continuity of monetary policy and gives greater stability to government-RBI relations, ” said Barclays in a note.

Detailed explanation-2: -Shri Shaktikanta Das has vast experience in various areas of governance in the last 38 years. Shri Das has held important positions in the Central and State Governments in the areas of Finance, Taxation, Industries, Infrastructure, etc.

Detailed explanation-3: -“The Appointments Committee of the Cabinet has approved the reappointment of Shri Shaktikanta Das, lAS Retd.

Detailed explanation-4: -Reserve Bank of India deputy governor Michael Debabrata Patra has been reappointed for a period of one year with effect from January 15, 2023. The appointments committee of the cabinet approved it Monday. Patra, a career central banker since 1985, took over as the deputy governor on January 14, 2020.

Detailed explanation-5: -The Governor and Deputy Governors hold office for periods not exceeding five years. The term of the governor may be fixed by the government at the time of his appointment. Governor (and also Deputy Governors) is eligible for reappointment or extension (according to RBI Act).