The Indian government is expected to extend the term of central bank governor Shaktikanta Das for a second time, according to three sources with direct knowledge of the matter who spoke to Reuters. This move would be unprecedented and would make him the longest-serving chief since the 1960s.
Das, who was one of the most trusted bureaucrats in Prime Minister Narendra Modi's administration, was appointed to lead the Reserve Bank of India in December 2018, a period when the relationship between the government and the regulator was strained. His current term is set to end on December 10, and he has already served longer than the typical five-year maximum seen in recent decades.
A further extension would make Das the longest-serving governor since Benegal Rama Rau, who held the role for seven and a half years between 1949 and 1957. Two government sources with direct knowledge of the matter stated that no other candidates are being considered at this point, nor has any selection committee been established, with Das' term likely to be extended for at least another year.
The decision is expected to be announced after the Maharashtra state elections are complete, according to a third source with direct knowledge of the matter. The country's Election Commission prohibits the ruling party from making ad-hoc appointments that could influence voter behavior. The finance ministry, prime minister's office, and the central bank did not immediately respond to emailed requests for comment.
The three sources, who chose not to be identified due to the confidential nature of the matter, indicated that the final decision would be made by the Prime Minister.
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