Reserve Bank of India Governor Shaktikanta Das, who received the Governor of the Year Award 2023 by Central Banking, showed how monetary authorities headed well beyond their traditional briefs in response to unprecedented circumstances over the last few years. Das received the award in London as part of the Central Banking Awards 2023. Central Banking provides analysis and coverage on various themes including monetary policy, financial stability, and governance.
“In recent times, especially since the outbreak of the Covid-19 pandemic, central banks who are at the core of monetary and financial systems have been called to do “heavy lifting” well beyond their traditional mandate,” Das said at the opening plenary address of the Summer Meetings organized by Central Banking.
The RBI Governor spoke of navigating uncharted waters through three “black swan events” the Covid-19 pandemic, the war in Ukraine and the aggressive monetary policy tightening by global central banks. The Governor of the Year award was announced in March. Central Banking had lauded Das’ handling of multiple crises at the time.
"His tenure, which began in December 2018, has been marked by a series of grave challenges, starting with the collapse of a major non-bank firm, moving through the first and second waves of the coronavirus, and then, in 2022, Russia’s invasion of Ukraine and its inflationary impact,” Central Banking had said.