RBI Governor Shaktikanta Das hospitalised in Chennai, discharge expected soon

Reserve Bank of India (RBI) Governor Shaktikanta Das was admitted to Apollo Hospital in Chennai on Tuesday after experiencing acidity, reported PTI, citing a source.

The governor was under observation, the source said.

An RBI spokesperson confirmed the development to PTI, stating, “Reserve Bank of India Governor Shri Shaktikanta Das experienced acidity and was admitted to Apollo Hospital, Chennai, for observation.”

"He is now doing fine and will be discharged in the next 2-3 hours. There is no cause for concern," the spokesperson added.

Das’s health concerns come just days ahead of the Monetary Policy Committee (MPC) meeting scheduled for December 4-6, where critical decisions on interest rates are expected.

In October, the RBI maintained the benchmark repo rate at 6.5% for the tenth consecutive time but shifted its policy stance from "withdrawal of accommodation" to "neutral," signaling flexibility to respond to inflation trends.

The lead-up to the December meeting has seen varied perspectives on monetary policy. Earlier this month, Union Minister Piyush Goyal called for a rate cut despite prevailing food inflation. Speaking at the CNBC-TV18 Global Leadership Summit, Goyal said, “RBI must cut interest rates. It’s a flawed theory to consider food inflation for making a choice on cutting rates.”

Goyal clarified that the statement reflected his personal opinion, not that of the government.

Responding to Goyal’s comments, Das, with a smile, remarked, “The next Monetary Policy is coming up in the first week of December. I would like to reserve my comments for that. Thank you.”

Das has been at the helm of the RBI since December 2018 and is widely credited with steering the central bank through several economic challenges, including the pandemic and inflationary pressures.