Reserve Bank of India (RBI) Governor Shaktikanta Das has earned an A+ grade in the 2024 Central Bank Report Cards, marking his second year in a row receiving this top recognition. The award, presented by Global Finance in Washington, D.C., uses a grading scale from “A+” to “F” to evaluate central bank governors worldwide on key areas like inflation management, economic growth, currency stability, and interest rate control.
Das’s A+ rating highlights his successful leadership at the RBI, navigating India’s economy through global challenges and strengthening the nation’s financial resilience.
Summary of Achievements:
- Top Ranking: For the second year in a row, Reserve Bank of India (RBI) Governor Shaktikanta Das has received an A+ grade in Global Finance’s Central Bank Report Cards.
- Global Recognition: The award, presented in Washington, D.C., highlights his success in managing inflation, supporting economic growth, ensuring currency stability, and overseeing interest rate policies.
- Stronger Banking Sector: Under Das’s guidance, India’s banking system has become more resilient, showing growth in profitability and stable capital.
Navigating Global Challenges as RBI Governor
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Governor Shaktikanta Das has effectively led the RBI through challenging times, including the COVID-19 pandemic and the impacts of the war in Europe. Amid rising interest rates worldwide, his steady approach has helped protect India’s economy and strengthen its financial system.
Significant Growth in Foreign Exchange Reserves
During his time as governor, India’s foreign exchange reserves have increased by $311 billion. In 2024 alone, reserves grew by $68 billion, making India the second-largest reserve holder globally, behind China. These reserves now cover 11.8 months of imports and exceed 101% of the country’s external debt as of June 2024.
Global Finance’s Prestigious Annual Ratings
Since 1994, Global Finance has published its Central Bank Report Cards, grading central bank governors from nearly 100 countries. Each governor is rated on an “A+” to “F” scale, assessing their performance in areas like inflation control, economic stability, and currency management.
Shaktikanta Das’s continued A+ rating highlights his success in maintaining financial stability in India, positioning him as a leading central bank governor globally and strengthening India’s economic future.
