Shaktikanta Das, new governor of the Reserve Bank of India (RBI), speaks during a press conference in Mumbai, India, Dec. 12, 2018. (Xinhua/Stringer)
NEW DELHI, Dec. 12 (Xinhua) -- The Federation of Indian Chambers of Commerce and Industry (FICCI) and the Federation of Indian Export Organisations (FIEO) have welcomed the appointment of Shaktikanta Das as the governor of the country's central bank, the Reserve Bank of India (RBI).
The Indian government announced Das' appointment as RBI governor on Tuesday evening.
FICCI President Rashesh Shah said that the wide-ranging experience in handling the economic matters will certainly help Das in dealing with the critical issues facing the economy.
"It's a great choice. Das has a 360-degree understanding of the financial issues facing the Indian economy and he also understands global issues due to his involvement with G-20," said Shah in a statement.
Welcoming Das' appointment, FIEO President Ganesh Kumar Gupta said that his previous exposure as secretary of Revenue and Economic Affairs would come very handy in dealing with vexatious economic issues confronting the country. The new governor will act as an effective bridge between the government and RBI so as to give necessary boost to the Indian economy.
In his statement, the FIEO chief hoped that the new governor will ensure flow of credit to exports sector, which is declining sharply on year-on-year basis affecting the liquidity of exporters particularly the micro, small and medium enterprises (MSMEs).
Das' appointment came within 24 hours after his predecessor Urjit Patel had stepped down citing personal reasons.
According to a report in English daily The Times of India, Das, who is RBI's 25th governor, is a strong defender of the government's move of demonitisation.
Through demonitisation the currency notes in the denomination of 1,000 and 500 Rupees were withdrawn and new notes in the denominations of 2,000 and 500 were introduced, with the objective to check the flow of black money in the country's economy.
