Former Economic Affairs Secretary Shaktikanta Das assumed charge as Reserve Bank of India (RBI) Governor on Wednesday replacing Urjit Patel. The decision to appoint the former secretary and current member of the finance commission as Governor came almost 24 hours after Patel resigned from the post. Meanwhile, Das' appointment has come as a shocker to many, especially Twitterati who couldn't believe that someone with MA in History could become the RBI Governor.
While there is no fixed eligibility for a person to be appointed as the RBI Governor, Twitterati couldn't digest the fact that History could land you a job as the chief executive of India's central bank. According to the RBI Act, PMO on the recommendation of the finance minister approves the appointment of RBI Governor. Shaktikanta Das Appointed as New RBI Governor After Urjit Patel's Resignation.
Shaktikanta Das' Degrees and Career:
Shaktikanta Das is a BA and MA in History from Delhi University. He later pursued a financial management course from IIM Bangalore. During his career as an IAS officer, he has worked with various Indian state governments including Tamil Nadu. Manmohan Singh Says Urjit Patel's Resignation as RBI Governor a 'Severe Blow to the Nation’s Economy'.
Here is how Twitterati reacted:
He was a member of the Fifteenth Finance Commission of India and India's Sherpa to the G20.
Historical RBI Governor!
Das has been the Economic Affairs Secretary of India, Revenue Secretary of India, Fertilizers Secretary of India.
Will History be used for the future?
New career option for History students!
As Das' educational degrees surprises netizens, we take a look at the qualifications of the past RBI Governors:
Urjit Patel (September 4, 2016 - December 10, 2018)
Bachelor of Science in Economics from London School of Economics
Master of Philosophy in Economics from Linacre College, Oxford in 1986
Has Doctorate in Philosophy in Economics from Yale University in 1990
Raghuram Rajan (September 4, 2013 - September 4, 2016)
Bachelor's degree in electrical engineering from the Indian Institute of Technology in Delhi
Post Graduate Diploma in Business Administration from the Indian Institute of Management Ahmedabad In 1987
Received an Honorary Doctorate degree from the London Business School in 2012 and a degree by the Hong Kong University of Science and Technology in 2015.
Duvvuri Subbarao (September 5, 2008 - September 4, 2013)
Graduation in Physics B.Sc Hons. from Indian Institute of Technology Kharagpur
M.Sc degree also in Physics from Indian Institute of Technology Kanpur.
Master's degree in economics from Ohio State University, United States.
Became a Humphrey Fellow at MIT in 1982 and is a received a PhD in Economics from Andhra University.
Y Venugopal Reddy (September 6, 2003 - September 5, 2008)
M.A. in economics from Madras University,
PhD from Osmania University, Hyderabad.
Diploma in Economic Planning from the Institute of Social Studies, Netherlands
Was conferred with a Doctor of Letters (Honoris Causa) by Sri Venkateswara University, India; Doctor of Civil Law (Honoris Causa) by the University of Mauritius. In 2008, he was made an Honorary Fellow of the London School of Economics.
Bimal Jalan (November 22, 1997 - September 6, 2003)
Graduated from Presidency College in Calcutta
Has attended Cambridge and Oxford Universities for further studies.
Former Prime Minister Manmohan Singh was also the RBI Governor (September 16, 1982 - January 14, 1985) with a long list of educational degrees. He has an Economics Tripos from the University of Cambridge, Bachelor's and Master's degrees in Economics and D.Phil from the University of Oxford other than honorary Doctorates conferred by different Universities.
Das, who becomes the 25th governor of the RBI, is a former IAS officer of Tamil Nadu cadre. On Monday Finance Minister Arun Jaitley said Das' appointment was necessitated by the resignation of Urjit Patel as Governor of the RBI. While Patel cited personal reasons, he resigned following issues with the Finance Ministry. After 1990s Patel is the first Governor to resign from the Governor's post before the expiry of his. His term ends in September 2019.
Finance Minister Arun Jaitley said, "I think, he (Das) has the right credentials. He has been extremely professional, has worked under various governments and has excelled himself. I am sure, in meeting the challenges before India’s economy as Governor of Reserve Bank, he will certainly act."