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Urjit Patel Set To Be The New RBI Governor

Urjit Patel Set To Be The New RBI Governor
Image credit: Wikipedia

And the much coveted chair of RBI Governor, for the third largest economy of the world, goes to Urjit Patel.

After months of speculations and quite a few names making round in the Indian banking/political sector, the curtains have certainly been raised with Urjit Patel, the sitting Deputy Governor set to take-over from incumbent Raghuram Rajan, once he vacates the office come September.

While there have been quite a few murmurs against the out-going governor and his policies; especially in the last few months, Urjit Patel’s appointment is seen as a step by many, as the government’s willingness to continue the system set in place by Raghuram Rajan and finish off the agenda that he initiated.

With an M.Phil degree from Oxford University, and having served as an advisor to Boston Consulting Group, Urjit Patel is seen by many in the circuit as a forward thinking man who was instrumental in India's switch towards inflating targeting and CPI as the new inflation benchmark.

To add to it, he also has experience of working with International Monetary Fund between 1990 and 1995 where he covered the US, India, Bahamas and Myanmar desks.