Shaktikanta Das, who steered demonetisation drive, is new RBI governor

Das will take over after incumbent Urjit Patel abruptly resigned on Monday

Former economic affairs secretary Shaktikanta Das will be the new governor of the Reserve Bank of India, after Urjit Patel resigned unexpectedly a day before.

He will have a three-year term. Das, 63, was economic affairs secretary from 2015 to 2017, and worked closely with the central bank, according to a Bloomberg profile. He is currently a member of the Finance Commission of India, and the government’s representative at the Group of 20 summits.

The government initially brought Das into the Finance Ministry to head up the revenue department, later moving him to economic affairs, where he helped