Shaktikanta Das leaves too big shoes to fill for the successor

Shaktikanta Das was a giant blessed with a set of strengths required to lead an important institution like the Reserve Bank, a former colleague said on Monday. Speaking after the appointment of Revenue Secretary Sanjay Malhotra as the 26th Governor of the RBI, the colleague reminisced about his time working under Das.

"Das was a giant, he leaves too big shoes to fill," the high-ranking official said, preferring not to be named.

The official said Das offered space to juniors and pushed them to think out of the box to arrive at innovative solutions by offering the right kind of flexibility.


The biggest virtue in Das was his ability to speak to all stakeholders on an issue, including those internally within the RBI and also outside in the industry before arriving at a solution to a problem, the former colleague said.


"He knew how to manage conflicting expectations and it was because of this ability that the fiscal and the monetary policies worked in tandem," the former colleague said.

When asked about the reason for Das not getting an extension at the RBI, the official said that he was at the helm for six years, and has already been the second longest-serving RBI Governor, the official said.

Echoing the sentiments, another official closely associated with the RBI remarked that the decision not to extend the term does not seem to be prompted by Das' stance on inflation.

This would be a decision made some time back itself and maybe, there will be a job for Das in the government's mind, the second official said.


He recalled that there was intense speculation about Das joining the government in a very senior capacity in the run-up to the General Elections earlier this year.

As for Malhotra, those who have worked with him said the IAS officer has a seasoned and polished persona which will be of help to take on the new assignment. Another official said Malhotra is very articulate and active, which will also be of help.