Shaktikanta Das, a member of the 15th Finance Commission and former Economic Affairs Secretary, was on Tuesday appointed as RBI Governor, a day after Urjit Patel quit abruptly. Das, an IAS officer of Tamil Nadu, will have a tenure of three years, according to a decision taken by the Appointments Committee of the Cabinet (ACC). He retired as Economic Affairs secretary last year and was subsequently made a member of the 15th Finance Commission.

At the recent G-20 meet in Argentina, Das was India's Sherpa. The post of RBI Governor fell vacant on Monday when Patel resigned, weeks after differences between the central bank and the government regarding its independence became public. Patel, 54, quit the post about nine months before his three-year term was to come to an end in September 2019.