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RBI Governor Urjit Patel

Urjit Patel quits! From demonetisation, new currency notes to repo rate, key policy changes RBI governor signed off on

Urjit Patel quits! From demonetisation, new currency notes to repo rate, key policy changes RBI governor signed off on

Mon, Dec 10, 2018

Notably, Patel was one of the key candidates in line to become RBI governor after Rajan decided to exit from his post once his tenure ended in September 2016.

RBI Monetary Policy: SLR cut by 25 bps from next month; this is how it may well reduce your EMIs

RBI Monetary Policy: SLR cut by 25 bps from next month; this is how it may well reduce your EMIs

Wed, Dec 05, 2018

RBI Monetary Policy: This means there will be no more MCLR, Base rate, prime lending rate and BPLR. In fact, bank will now have no opportunity to change interest rate of old borrowers, while hiking the lending rates in near-term future.

Centre vs RBI row: 'Urjit Patel resignation would send bad signal, as Raghuram Rajan's did'

Centre vs RBI row: 'Urjit Patel resignation would send bad signal, as Raghuram Rajan's did'

Mon, Nov 19, 2018

Centre vs RBI row: Veerappa Moily's remarks come ahead of RBI's crucial board meeting Monday with Finance Ministry nominees and some independent directors expected to take on Patel and his team over several issues, though both sides are in favour of reaching a common ground.

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RBI-Govt row: IMF expresses opposition to any move that compromises central bank's independence

RBI-Govt row: IMF expresses opposition to any move that compromises central bank's independence

Fri, Nov 02, 2018

The row was sparked off last Friday when RBI Deputy Governor Viral Acharya in a hard-hitting speech warned that undermining central bank's independence could be "potentially catastrophic", possible indication of the RBI being pushed to relax its policies ahead of general elections next year.

RBI-Govt rift: Reserve Bank Board felt interference on easy credit to MSMEs, other issues

Fri, Nov 02, 2018

The prevailing friction between the government and RBI led to a flashpoint in the Board meeting with the independent directors seen as usurping the cardinal regulatory powers of the central bank. While RBI wants to stick to its policy of cautious lending, government is insistent on the central bank diluting its stance on the stressed power sector companies and not pushing them for a resolution under the National Company Law Tribunal (NCLT).

Govt, RBI rift: FM assures on central bank autonomy; sources say Section 7 of RBI Act not invoked

Govt, RBI rift: FM assures on central bank autonomy; sources say Section 7 of RBI Act not invoked

Thu, Nov 01, 2018

The RBI’s Board meeting call came within hours of a statement issued by the finance ministry that many viewed as a sign of easing tensions between the two sides. The ministry clarification came amid reports of growing rift between the central government and the central bank and speculations that the RBI governor may resign following the tussle.

Centre invokes never-before-used powers to direct RBI governor Urjit Patel: Report

Centre invokes never-before-used powers to direct RBI governor Urjit Patel: Report

Wed, Oct 31, 2018

Separate letters have been sent to the Reserve Bank of India (RBI) governor in recent weeks, exercising powers under the section on issues ranging from liquidity for non-banking financial companies, capital requirement for weak banks and lending to small and medium enterprises, the report said.

RBI governor Urjit Patel to resign over autonomy fight with Centre?

RBI governor Urjit Patel to resign over autonomy fight with Centre?

Wed, Oct 31, 2018

The rift between The Reserve Bank of India and the Centre has widened and could lead to the Reserve Bank of India (RBI) governor Urjit Patel considering resignation, said a report.

RBI keeps policy rate unchanged in surprise move: Check what experts said

Fri, Oct 05, 2018

The Reserve Bank of India held its policy rate unchanged, surprising most analysts who had expected a rate increase to combat inflationary pressures arising from high oil prices and a weakening rupee. The panel shifted its policy stance to "calibrated tightening" from "neutral".

RBI Policy Review: Urjit Patel keeps repo rate at 6.50%, says rupee depreciation vs $ has been moderate vis a vis other EM currencies

RBI Policy Review: Urjit Patel keeps repo rate at 6.50%, says rupee depreciation vs $ has been moderate vis a vis other EM currencies

Fri, Oct 05, 2018

RBI Policy Review: Ahead of all, Patel said, "Depreciation of Rupee against US Dollar has been comparatively moderate in comparison to currencies of other EMEs (emerging markets economies)," adding "The rupee's level should be decided by market forces."

Urjit Patel says operators must pay attention to cyber security, reasonableness of charges

Urjit Patel says operators must pay attention to cyber security, reasonableness of charges

Sat, Aug 18, 2018

"While the Reserve Bank will continue to pay focused attention to appropriate enabling regulation, strong infrastructure, apposite supervision and customer centricity, due attention must be paid by operators towards cyber security, effective customer grievance redress arrangements and reasonableness of customer charges," he said.

Rate hike to keep inflation below 4 pc: RBI MPC

Rate hike to keep inflation below 4 pc: RBI MPC

Fri, Aug 17, 2018

RBI Deputy Governor Viral Acharya too voted for a hike in the policy rate as a step towards fulfilling inflation targeting mandate while paying attention to growth.

Urjit Patel says job of economists is not to predict crises, but to explain how mankind behaves

Urjit Patel says job of economists is not to predict crises, but to explain how mankind behaves

Fri, Aug 03, 2018

He said economists play a vital role in shaping public perceptions and discourses and in designing strategic policies in the corporate sector, central banks, governments and multilateral institutions, but ironically all these go very often unsung. "Their greatest contribution to policymaking may take place through less direct routes like research which nudge policymakers to think about economic problems/challenges in newer/different ways," Patel said.

July sees strongest service sector growth since October 2016: PMI

July sees strongest service sector growth since October 2016: PMI

Fri, Aug 03, 2018

India's services sector activity remained in the growth territory for the second consecutive month in July, as business activity witnessed the strongest growth since October 2016 amid improved demand conditions, says a monthly survey.

Urjit Patel led RBI cites risk factors, aims to contain inflation

Urjit Patel led RBI cites risk factors, aims to contain inflation

Wed, Aug 01, 2018

Citing several persisting risk factors, it said, First, crude oil prices continue to be volatile and vulnerable to both upside and downside risks. In particular, while geopolitical tensions and supply disruptions remain an upside risk to oil prices, the fall in global demand due to further intensification of protectionist trade policies could pull down oil prices.

RBI Governor Urjit Patel seeks more powers to effectively regulate public sector banks

RBI Governor Urjit Patel seeks more powers to effectively regulate public sector banks

Tue, Jun 12, 2018

Regarding PSBs, Patel told the panel that RBI has "inadequate" control over them and asked for more powers to regulate them. RBI has cited at least 10 areas where it has no control over PSBs. These include, power to remove chairman, director or CEO of a state-owned banks and impose restriction on common directors on PSB boards. There are 21 state-owned banks, including State Bank of India.

RBI Guv appears before Par panel; assures steps to strengthen banking system

RBI Guv appears before Par panel; assures steps to strengthen banking system

Tue, Jun 12, 2018

Urjit Patel told the panel that steps were being taken to strengthen the banking system. "We are confident that we will be able to tide over the crisis," a source quoted the Governor as saying with respect to the NPA situation. Striking an optimistic note, Patel informed the committee that after implementation of the Insolvency and Bankruptcy Code (IBC), the situation on the NPA front has been improving.

Services PMI back on growth track in March; job-creation at 7-yr high

Services PMI back on growth track in March; job-creation at 7-yr high

Thu, Apr 05, 2018

The index slipped below the 50-point mark, that separates expansion from contraction, in February. "India's service activity stabilised at the end of the quarter, underpinned by a renewed rise in new work.

Scope for further reduction in bank lending rate, says Patel

Scope for further reduction in bank lending rate, says Patel

Sat, Feb 11, 2017

While maintaining a status quo in the sixth bi-monthly monetary policy, RBI has said, "The Committee believes that the environment for timely transmission of policy rates to banks lending rates will be considerably improved if three key measures tackled well."

Govt pressed ahead with demonetisation despite concerns, RBI tells parliament

Govt pressed ahead with demonetisation despite concerns, RBI tells parliament

Fri, Jan 20, 2017

The central bank in a writtenn testimony to the parliament said that they had warned the government of the "possible inconvenience to the public for some time".

Congress demands RBI Governor Urjit Patel's resignation, holds protests at RBI offices

Congress demands RBI Governor Urjit Patel's resignation, holds protests at RBI offices

Wed, Jan 18, 2017

The Congress on Wednesday held nation-wide protests against "poor implementation" of demonetisation and protested RBI offices in different state capitals demanding restoration of the apex bank`s autonomy and resignation of Reserve Bank of India (RBI) Governor Urjit Patel.

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