Mumbai: Urjit Patel, Governor of Reserve Bank of India(RBI) today resigned from the position citing personal reasons. Reacting to this, Prime Minister Narendra Modi in his series of tweets said: Dr Urjit Patel is an economist of a very high calibre with a deep and insightful understanding of macro-economic issues. He steered the banking system from chaos to order and ensured discipline. Under his leadership, the RBI brought financial stability.Dr. Urjit Patel is a thorough professional with i...Read More

Gandhinagar: Governor, Reserve Bank of India (RBI), Dr Urjit Patel today delivered a special lecture in the Gujarat National Law University (GNLU)- on 'Banking Regulatory Powers should be Ownership Neutral' and highlighted some fundamental issues that exist in the regulation of banks, in particular public sector banks (PSBs). While inaugurating the Centre for Law and Economics and as a prelude to the GNLU Conference on Banking and Finance to be held this weekend (17-18 March 2...Read More

Mumbai: RBI Governor Urjit Patel on Thursday said the demonetisation exercise will have "far reaching changes" towards a transformative effect on the economy going forward, despite some short-term disruptions and "public hardship". He also cautioned that there was "little room for complacency and it is important to guard against sporadic volatility in financial markets". "The withdrawal of specified bank notes will impart far reaching changes going forward. It is expected to significantly ...Read More

New Delhi: RBI Governor Urjit Patel gets a little over Rs 2 lakh as salary and has not been provided with any supporting staff at his residence, the central bank has said. Patel, who took over as RBI Governor in September, is presently in possession of the bank's flat (Deputy Governor's flat) at Mumbai, it said. "No supporting staff has been provided to the present Governor, Urjit Patel at his residence. Two cars and two drivers have been provided to the present Governor," RBI said in repl...Read More

Mumbai:In a low-key affair, Urjit Patel has begun his innings as Reserve Bank's new Governor with a private off-media 'handover' ceremony today -- a marked departure from his predecessor Raghuram Rajan announcing big-bang reforms on his first day itself three years ago. Traditionally, the handover of charge by the outgoing Governor to the new head of the central bank has been a public affair and had taken place in the past in front of media cameras and this was also the case when Rajan had ta...Read More

Mumbai: Urjit Patel who took over as the 24th Governor of Reserve Bank will have a tough task in maintaining the legacy of his predecessor, Raghuram Rajan, and balance the need to contain inflation without hurting growth. Patel assumed charge effective September 4, 2016, after serving as deputy governor since January 2013, RBI said in a statement today. He was reappointed as deputy governor on January 11, 2016, after the completion of his first three-year term in office. Ensuring undisr...Read More