Das named APAC central banker of the year

Mumbai: The governor's movements to regulate non-bank financial companies (NBFC) without donations have granted him the title of central banker of the year for Asia and the Pacific.

The award was instituted by a publication - to celebrate the officials who best managed to stimulate growth and stabilize their economy. In a note, The Banker said the RBI has faced a number of challenges, from delinquent loans to fraud-related problems.

Faced with these challenges, Shaktikanta Das, governor of the Reserve Bank of India (RBI), has taken steps to improve banking in India through a restricted approach to governance, the statement said. He also recognized the measures to tighten the rules around shadow banking and subject lenders outside the bank to greater scrutiny. Das has been candid about the lack of governance in banking, calling for stricter rules for state banks, which comprise 60% of the banking sector in India. To make the banking system more robust, the central bank must establish a university for supervisors in order to improve supervisory skills, ‚ÄĚsays the note.

In the past, former Governor Raghuram Rajan was congratulated as the central banker of the year (global and Asia-Pacific) in 2016 for his role in resisting the risks arising from the tightening of the United States in 2015.