The New Face of RBI: Urjit Patel

- Advertisement -

Choosing for the first time after deliberation and discussions over it with the finance minister Arun Jaitely, PM Narendra Modi announced the successor of Mr. Rajan as the gorvernor of RBI. It is going to be the current deputy governor of RBI Mr. Urjit Patel. After much speculation and eliminating the prospects of Arundhati Bhattacharya (Managing Director of SBI), Subir Gokaran (executive director – IMF), Arvind Subramanium (Chief Economic Advisor to the government of India) and many more, Urjit Patel was chosen to begin his 3 year long term that starts on September 4th 2016.
Urjit Patel has been running the monetary policy Department at the RBI since 2013. Going back to his educational back ground, Patel has an M.Phil in Economics from Oxford University and a PhD in Economics from Yale University. Having worked with the International Monetary Fund in the 1990s, he was also a consultant to the ministry of finance and president of the Reliance Industries.

Nonetheless, it is going to be difficult for Patel as he is taking over the RBI at a time of robust inflation that has been exceeding the mark set by RBI in March at 5 percent. Also keeping in mind the tricky relation with the current ruling party which did not see eye-to-eye with Mr. Rajan, Urjit Patel has a few obstacles ahead but we wish him best of luck for his term.

- Advertisement -

Download the DU Express app on Play Store to stay connected with all the latest admission news and campus news 24×7.Click here to download the app.

- Advertisement -

Join our Telegram channel today free of cost to get all the latest updates delivered directly on your smartphone.Click here to subscribe to our Telegram channel or search for – @DUExpressIndia on Telegram to join.

- Advertisement -

- Advertisement -

Similar Articles

Advertisment

Most Popular

Colleges Reopen in Karntaka

Amidst the ongoing pandemic, academic institutions across the globe went online. However, with improving situations, schools and colleges are reconsidering their stand. Schools and...

High court stays order to pay staff from student’ fund

The Delhi High Court on Friday stayed AAP's decision asking 12 fully funded DU colleges to pay outstanding salaries to staff from the Students...

74% seats filled after the second cutoff, over 51,000 students admitted

The University of Delhi released its second cutoff on October 17. The admissions for the same closed on Wednesday. Around 74% of the seats...