Showing posts from August 20, 2016

Urjit Patel 24th Reserve Bank Governor

Reserve Bank of India Deputy Governor Urjit Patel will be the 24th Governor of RBI and will succeed Raghuram Rajan, who will demit office on September 4. Patel, 52, joined RBI as Deputy Governor on January 11, 2013, and was given a second term in January. As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank. The Patel committee report also formed the basis of the monetary policy committee, which takes away a lot of powers of RBI and the governor, as also move to create a public debt management agency. Under the independent monetary policy committee, which is being set up, the government will set an inflation target to RBI and the governor will be made answerable to Parliament if he/she fails to contain inflation within target. Prior to his appointment as the deputy governor, Patel was Advisor (Energy & Infrastructure), The Boston Consulting Group. He is a Ph.D. (Economics) from Y