Urjit Patel

No Quick Action, Government Response Stoked Bad Loan Problem: Urjit Patel

India News | Reuters | Friday July 5, 2019

India's bad loan problem slowly morphed into a full-blown crisis due to a lack of timely action by regulators and the government for several years until 2014, and it was largely driven by state-owned banks, former central bank governor Urjit Patel said.

Refrain From Nudging State-Run Lenders To Pump-Prime Economy: Urjit Patel

Business | Indo-Asian News Service | Thursday July 4, 2019

Urjit Patel's presentation pointed out that in Indian banks, capital is low relative to NPAs when compared to global standards

RBI Deputy Governor Viral Acharya Quits, Cites "Personal Circumstances"

Business | NDTV Profit Team | Monday June 24, 2019

Viral Acharya, Deputy Governor of the Reserve Bank of India (RBI), has resigned, citing "unavoidable personal circumstances". Mr Acharya, whose term was scheduled to end in February, conveyed his decision to the central bank in a letter. "Consequential action arising from his letter is under consideration of the Competent Authority," the RBI said i...

A Recap Of RBI Key Interest Rate Changes In Past One Year

Business | NDTV Profit Team | Wednesday June 5, 2019

RBI interest rate: While many economists expect the six-member panel to announce a reduction in repo rate, analysts will keenly look out for any steps to prop up growth, after official data put India's GDP growth behind China's in the March quarter. Under its current governor, Shaktikanta Das, the central bank has cut the repo rate by 25 basis poi...

RBI To Cut Rates In June, But Analysts Split On If It Should: Poll

Business | Thomson Reuters | Wednesday May 29, 2019

Under Governor Shaktikanta Das, who took over as RBI governor from Urjit Patel in December last year, the central bank delivered rate cuts at its previous two meetings, in February and April.

Supreme Court Issues Notice To RBI On Pleas Alleging Violation Of RTI Law

India News | Press Trust of India | Saturday January 26, 2019

The Supreme Court Friday sought RBI''s response on two pleas seeking contempt proceedings against the central bank and its former Governor Urjit Patel for non-disclosure of information under RTI about some banks.

"RBI Governors Insulted By Centre, Forced To Quit": P Chidambaram

India News | Press Trust of India | Sunday January 20, 2019

Former Finance Minister P Chidambaram today attacked the Centre over the exit of Urjit Patel and Raghuram Rajan from the RBI, saying that never have two RBI governors been humiliated and forced to quit, while speaking at a seminar in Mumbai.

"For Opposition Leaders, Modi Is The Issue," Says PM: Highlights

India News | Edited By Swati Bhasin, Vaibhav Tiwari | Tuesday January 1, 2019

Prime Minister Narendra Modi spoke to news agency ANI today on BJP's loss in assembly elections in five states, resignation of Urjit Patel from the Reserve Bank of India, demonetisation, among other important political and people issues.

"I'm Revealing For The First Time...": What PM Modi Said On Urjit Patel

India News | Edited by Divyanshu Dutta Roy | Wednesday January 2, 2019

Urjit Patel had wanted to resign for months because of "personal reasons", Prime Minister Narendra Modi said Tuesday, talking about the resignation of the former Reserve Bank of India governor in December amid speculation of a rift with the government. "He wrote to me personally," PM Modi said in an interview to news agency ANI.

Opinion: After Big Exit, The Assault On RBI's Autonomy Is Just Starting

Business | Andy Mukherjee, Bloomberg Opinion | Friday December 21, 2018

Their first move, unveiled Thursday, is an innocuous - even laudable - infusion of 410 billion rupees ($5.9 billion) into troubled state-run lenders, bumping up this fiscal year's outlay for bank recapitalization by 63 percent to 1.06 trillion rupees.

"Government, RBI Relation Like That Of Husband And Wife": Manmohan Singh

India News | Press Trust of India | Tuesday December 18, 2018

Former prime minister Manmohan Singh on Tuesday said the relationship between the government and the RBI is like of "husband-wife" and the difference of opinions must be resolved in a manner that the two institutions work in harmony.

"No Threat To Autonomy Of Banks": Arun Jaitley On Urjit Patel Resignation

India News | Press Trust of India | Tuesday December 18, 2018

Finance Minister Arun Jaitley on Tuesday said the government did not seek resignation of Urjit Patel as RBI Governor over differences on some issues, and went on to cite how central bank heads were made to resign under prime ministers Jawaharlal Nehru and Indira Gandhi and when Yashwant Sinha was finance minister.

Government's Cash Problem Just Got More Bearable, Thanks to RBI Switch

Business | Vrishti Beniwal, Bloomberg | Tuesday December 18, 2018

Shaktikanta Das, a former bureaucrat picked by PM Modi to steer the RBI after Urjit Patel's exit, is open to hearing the government out on its concerns about the economy -- whose growth slowed in the three months through September. Getting the RBI to share its capital will help the government boost growth without missing its budget deficit goal of ...

Market Review: Good Macroeconomic Data, Hopes Of Low Interest Rates Fuel Indices

Business | Indo-Asian News Service | Sunday December 16, 2018

Expectation of lower interest rates with further liquidity infusion by the Reserve Bank of India (RBI) under its new chief, along with healthy macro-economic data points, drove the key equity indices forward.

Institutions Must Remain Independent Despite "Marching Orders": Raghuram Rajan

India News | Written by Alisha Sachdeva | Friday December 14, 2018

Urjit Patel's resignation from the post of Reserve Bank of India governor has spurred a number of economists - including his predecessor Raghuram Rajan - to stress on the need for the country's top institutions to function in a manner "independent" of the government's demands.