Urjit Patel Succeeds Raghuram Rajan as New RBI Governor
The Narendra Modi government has appointed Urjit Patel as the new governor of the Reserve Bank ofIndia to replace Raghuram Rajan, once Rajan's term ends on September 4.
Patel has served as the deputy governor of RBI since January2013 when he took over from Subir Gokarn. He handles the monetary policydepartment.
Patel isthe author of the report that laid the groundwork for the currentinflation-targeting method of monetary policy formulation.
Brokerage firm Nomura Global Markets Research describes him ashawkish, on account of his tough stance on inflation. Like Rajan, he has aconservative view on fiscal policy. According to Patel, fiscal disciplinewould support the shift to inflation target that his committee recommended.
Patel is seen as someone who will givecontinuity to Rajan's policies.
Also Read: Urjit Patel Succeeds Raghuram Rajan as New RBI Governor
A very astute move.He's young,qualified&experienced. Above all,signals policy https://t.co/J3ObIUEDgF should exhale https://t.co/RNLE92eDsF
August 20, 2016
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