PM Modi extended his heartfelt congratulations to Reserve Bank of India (RBI) Governor Shaktikanta Das after he was awarded an ‘A+’ rating by the Global Finance magazine in its annual Central Banker Report Cards.
This prestigious recognition has placed Das among the top central bank governors globally, highlighting his exceptional leadership and the effective monetary policies implemented under his tenure. The award serves as a testament to India’s robust economic management during challenging times.
The ‘A+’ rating is a significant achievement for any central bank governor, and for Shaktikanta Das, it reflects the confidence of the global financial community in his stewardship of India’s central banking system. Since taking charge as RBI Governor in December 2018, Das has navigated the Indian economy through a period marked by several significant challenges, including the COVID-19 pandemic, global economic uncertainties, and domestic financial sector issues. His calm and composed approach to policy-making, combined with decisive action when required, has earned him widespread praise, both domestically and internationally.
PM Modi in his message of congratulations, lauded Das’s leadership and his contribution to India’s economic stability. He emphasized that this global recognition is not just a personal achievement for Das, but also a reflection of the strength and resilience of the Indian economy. Modi pointed out that the recognition comes at a time when India is emerging as one of the fastest-growing major economies in the world, despite the global economic turbulence. The Prime Minister expressed confidence that under Das’s continued leadership, the RBI will play a crucial role in sustaining and enhancing this growth trajectory.
In addition to crisis management, Das has also focused on long-term reforms aimed at strengthening the structural foundations of the Indian economy. He has been a strong advocate for improving the health of the banking sector, which has been grappling with issues like non-performing assets (NPAs) and governance concerns. Under his leadership, the RBI has taken steps to address these issues through measures such as asset quality reviews, stricter regulatory oversight, and the promotion of corporate governance standards in banks. PM Modi explained These initiatives have contributed to the gradual improvement of the banking sector’s health, which is critical for sustaining economic growth.
Another area where Das has made a significant impact is in the modernization of India’s payment systems.PM Modi Recognizing the rapid digital transformation taking place globally, Das has pushed for the adoption of new technologies in the financial sector. The RBI, under his guidance, has introduced several initiatives to promote digital payments and enhance cybersecurity. These efforts have not only made transactions more convenient for consumers but have also helped to bring more people into the formal financial system, thereby promoting financial inclusion.
In his acceptance of the award, Shaktikanta Das was characteristically modest, attributing the achievement to the collective efforts of the RBI team. He emphasized that the recognition is not just a personal accolade but a testament to the hard work and dedication of all those involved in the central bank’s operations.PM Modi appriciate Das for also reiterated his commitment to continuing the work of strengthening India’s financial system and ensuring that it remains robust and resilient in the face of future challenges.
PM Modi’s congratulations to Shaktikanta Das by Global Finance comes at a time when India is poised to play an increasingly prominent role in the global economy. As the world’s most populous country and one of its fastest-growing economies, India’s economic policies and leadership are of significant interest to the global financial community. The ‘A+’ rating awarded to Das is therefore not just an acknowledgment of past achievements, but also an endorsement of the direction in which India’s central bank is headed.
Looking ahead, the challenges facing the RBI and Shaktikanta Das are far from over. The global economic environment remains uncertain, with potential risks from geopolitical tensions, supply chain disruptions, and fluctuating commodity prices. Domestically, the RBI will need to continue its work on managing inflation, supporting economic growth, and ensuring financial stability.
PM Modi’s congratulations to Shaktikanta Das for receiving the ‘A+’ global rating are a fitting recognition of the RBI Governor’s exemplary leadership and the significant progress made under his tenure.
