RBI vs Government Row: An Open Letter to RBI Governor Urjit Patel
6 years, 2 months ago

RBI vs Government Row: An Open Letter to RBI Governor Urjit Patel

The Quint  

The fall of the Rupee’s value and the market’s performance recently is not new to you. As the deputy governor, you managed the Urjit Patel Committee and braved through the crisis. Recently, you were served a show cause notice from the Supreme Court of India for not abiding by its order to disclose the list of wilful defaulters of loans above Rs 50 crore. With just a few months left till the end of your term, if you haven’t been able to make any amends to the harm done already, please don’t let more damage come on to the people of India. I have always believed that institutions like the RBI have always come to our rescue, and people like you have headed them with zeal and utmost dignity.

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History of this topic

Needed, a new contract between RBI and GOI
1 year, 3 months ago

Needed, a new contract between RBI and GOI

Hindustan Times  

Recent revelations by a former central banker and a former bureaucrat have put the spotlight on the relationship between the Reserve Bank of India and the Union finance ministry once again. Viral Acharya, the former RBI deputy governor, revealed that the finance ministry’s demand to extract ₹2-3 trillion from its balance sheet sparked a tense RBI-government clash in 2018. “Norman’s …

Former RBI governor Urjit Patel says before 2014, RBI and government was slow in tackling bank crisis
5 years, 6 months ago

Former RBI governor Urjit Patel says before 2014, RBI and government was slow in tackling bank crisis

Op India  

In his first remarks after resigning from the position of governor of Reserve Bank of India, Urjit Patel held banks, government and the RBI responsible for the spiraling crisis of bad loan mess and the following low capital buffers till 2014. Patel was invited at Standford University where he spoke about the areas of concern for the country’s banking sector …

Opinion | An intruder undermines RBI
5 years, 10 months ago

Opinion | An intruder undermines RBI

Live Mint  

Bankruptcy proceedings usually involve protecting a firm’s assets from creditors. The ruling by the bankruptcy court, which is overseeing the government- Already India has lost two RBI governors because, among other things, they dared to ask banks to acknowledge problem loans in time, classify them correctly and make adequate provisions for losses. Already-delayed Indian tribunal proceedings will stretch forever, with …

Urjit Patel resigned for personal reasons, did a great job as RBI Governor: PM Modi
6 years ago

Urjit Patel resigned for personal reasons, did a great job as RBI Governor: PM Modi

India TV News  

Former Reserve Bank of India Governor Urjit Patel did a great job, Prime Minister Narendra Modi said on Tuesday. Urjit Patel stepped down from his position in December citing "personal reasons" amidst reports of a rift between the RBI and the government. After Patel's resignation, PM Modi tweeted that the RBI Governor left behind a "great legacy." I acknowledge that …

Jalan panel was finalized when Patel was still RBI governor: FM
6 years ago

Jalan panel was finalized when Patel was still RBI governor: FM

Live Mint  

New Delhi: Finance minister Arun Jaitley on Monday said the composition of the expert committee to suggest how the central bank should handle its reserves, and whether it can transfer its surplus to the government, was finalised when Urjit Patel was still the Reserve Bank of India governor. This is contrary to the belief that the composition of the high-level …

Much ado about nothing: Demystifying the needless hue and cry over the RBI
6 years ago

Much ado about nothing: Demystifying the needless hue and cry over the RBI

Op India  

“The only function of economic forecasting is to make astrology look respectable,” remarked the legendary Economist John Kenneth Galbraith. Whoever in Congress thought of RBI autonomy and role in influencing election outcome doesn’t have enough knowledge to even make credible sounding arguments. According to the RBI Act’s Section 7, “the central government may from time to time give such directions …

‘New RBI governor Shaktikanta Das’ appointment dangerous, could unleash financial terror,’ warns Shiv Sena
6 years, 1 month ago

‘New RBI governor Shaktikanta Das’ appointment dangerous, could unleash financial terror,’ warns Shiv Sena

Hindustan Times  

In a no-holds-barred assault, the Shiv Sena in Mumbai on Saturday termed the appointment of new Reserve Bank of India Governor Shaktikanta Das as “dangerous” with a potential to unleash ‘financial terror’ in the country. The Shiv Sena in Mumbai on Saturday termed the appointment of new Reserve Bank of India Governor Shaktikanta Das as “dangerous” with a potential to …

Facts, No Fiction: There’s a new sheriff in RBI
6 years, 1 month ago

Facts, No Fiction: There’s a new sheriff in RBI

Op India  

This week has been a roller coaster ride, from high profile extradition cases, the resignation of the RBI governor and the results of recent assembly elections. That being said, it is well acknowledged that India has one of the tightest of monetary policies and that too at a time where inflation seems to be significantly lower than even RBI’s estimates. …

RBI governor Shaktikanta Das: Once beaten, second time lucky
6 years, 1 month ago

RBI governor Shaktikanta Das: Once beaten, second time lucky

Live Mint  

New Delhi: When Prime Minister Narendra Modi announced the invalidation of 86% of currency notes on 8 November 2016, only a small group of carefully chosen bureaucrats were in the loop. Economic affairs secretary Shaktikanta Das was the top bureaucrat in the finance ministry who was leading the secret mission and ultimately became the government’s face explaining and clarifying the …

After Urjit Patel’s exit, ex-bureaucrat Shaktikanta Das takes over as RBI governor
6 years, 1 month ago

After Urjit Patel’s exit, ex-bureaucrat Shaktikanta Das takes over as RBI governor

Hindustan Times  

Former economic affairs secretary Shaktikanta Das has been appointed Reserve Bank of India governor, according to news agency Reuters. Shaktikanta Das, a former official in the Finance Ministry, was on Tuesday appointed the new RBI Governor, a day after Urjit Patel quit amid tiff with the government. Watch: Ex-bureaucrat Shaktikanta Das becomes new RBI governor A retired IAS officer, Das …

Shaktikanta Das, who oversaw demonetisation, is new RBI governor
6 years, 1 month ago

Shaktikanta Das, who oversaw demonetisation, is new RBI governor

Live Mint  

New Delhi/Mumbai: The government on Tuesday appointed Shaktikanta Das, member of the fifteenth finance commission, as the governor of the Reserve Bank of India, a day after Urjit Patel resigned at the end of a bruising tussle with the government over the regulator’s independence and the regulation of banks. Das, who was secretary in the department of economic affairs when …

Day after Urjit Patel's surprise resignation, finance secretary says successor in Reserve Bank of India to be announced today
6 years, 1 month ago

Day after Urjit Patel's surprise resignation, finance secretary says successor in Reserve Bank of India to be announced today

Firstpost  

New Delhi: The government is likely to make an announcement regarding Urjit Patel’s successor as Reserve Bank of India’s Governor later in the day, Finance Secretary A N Jha said. Patel, who is the first governor since 1990 to step down before his term ends, in a brief statement, cited “personal reasons” for the decision. The decision to quit comes …

RBI governor Urjit Patel has been a victim of NDA sledging, which is simply not cricket
6 years, 1 month ago

RBI governor Urjit Patel has been a victim of NDA sledging, which is simply not cricket

Firstpost  

India won a rare cricket Test victory against formidable Australia on their own soil on the day the Reserve Bank of India governor resigned citing personal reasons amid professional tensions. It turns out that unlike Virat Kohli, RBI governor Urjit Patel preferred to quit than fight it out, and for good reason. Patel and the government of India legitimately differed …

Urjit Patel resignation: Reticent but independent-minded RBI governor who found his voice
6 years, 1 month ago

Urjit Patel resignation: Reticent but independent-minded RBI governor who found his voice

Firstpost  

Urjit Patel’s resignation came just days ahead of the 14 December meeting of the board of RBI that was to take up issues like governance in the central bank. Mumbai: From being considered government’s man on the Mint Street, outgoing RBI governor Urjit Patel had in less than two-years emerged from the shadows to find his own voice on issues …

RBI governor Urjit Patel quits after weeks-long tussle with Narendra Modi-govt: A timeline of events
6 years, 1 month ago

RBI governor Urjit Patel quits after weeks-long tussle with Narendra Modi-govt: A timeline of events

Firstpost  

The Reserve Bank of India Governor Urjit Patel abruptly resigned on Monday, citing personal reasons, after a prolonged public spat between the institution and Prime Minister Narendra Modi’s government. New Delhi: The Reserver Bank of India Governor Urjit Patel abruptly resigned on Monday, citing personal reasons, after a prolonged public spat between the institution and Prime Minister Narendra Modi’s government. …

Urjit Patel resignation: An alarming challenge to the RBI
6 years, 1 month ago

Urjit Patel resignation: An alarming challenge to the RBI

Live Mint  

Government is conducting a dangerous experiment in economic management. This week, following renewed pressure to conform to the government’s thinking, the head of the Reserve Bank of India, Urjit Patel, resigned, citing “personal reasons.” Prime Minister Narendra Modi’s officials have challenged the RBI’s operational independence before, but their latest effort marks a significant escalation. It’s a pattern seen elsewhere as …

The evolution of Urjit Patel since demonetisation
6 years, 1 month ago

The evolution of Urjit Patel since demonetisation

Live Mint  

Mumbai: Outgoing Reserve Bank of India governor Urjit Patel has certainly put the government in a spot. While his resignation has not completely surprised the market that was closely watching the ongoing row between the central bank and the finance ministry, the timing has left people trying to connect the dots. Urjit Patel’s resignation seems to be the culmination of …

Exit RBI governor Urjit Patel, enter wrath of the markets?
6 years, 1 month ago

Exit RBI governor Urjit Patel, enter wrath of the markets?

Live Mint  

Governments that do not respect central bank independence will sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined an important regulatory institution,” Viral Acharya, deputy governor of the Reserve Bank of India, said less than two months ago. News reports had suggested that RBI governor Urjit Patel will resign …

Urjit Patel’s resignation ‘severe blow’ to nation’s economy: Manmohan Singh
6 years, 1 month ago

Urjit Patel’s resignation ‘severe blow’ to nation’s economy: Manmohan Singh

Hindustan Times  

Former prime minister Manmohan Singh Monday termed RBI Governor Urjit Patel’s resignation as “very unfortunate” and said it was a “severe blow” to the country’s economy. In a statement, Singh said he hoped that the RBI Governor’s sudden resignation is not a harbinger of Prime Minister Narendra Modi-led government’s attempts to “destroy” the institutional foundations of India’s USD 3 trillion …

Severe Blow To Economy: Manmohan Singh on Urjit Patel’s Resignation
6 years, 1 month ago

Severe Blow To Economy: Manmohan Singh on Urjit Patel’s Resignation

The Quint  

It is with great sadness that I received the news of the resignation of the governor of the Reserve Bank of india, Dr Urjit Patel. I have known Dr Patel to be an economist of high repute and also someone who cared deeply about India's financial institutions and economic policy. Dr Patel's sudden resignation, at a time when the Indian …

Opinion | Reserve Bank of India governor goes far too quietly
6 years, 1 month ago

Opinion | Reserve Bank of India governor goes far too quietly

Live Mint  

People who know Urjit Patel, the Reserve Bank of India governor, told me he would stay on and fight. But after a November meeting of the institution’s board, it looked like the central bank and the government had decided not to bring matters to a head and Patel, whose term expires in September 2019, would stick around. The terse resignation …

RBI chief Urjit Patel resigns: 6 areas of conflict with government
6 years, 1 month ago

RBI chief Urjit Patel resigns: 6 areas of conflict with government

Hindustan Times  

A protracted tiff between the Indian government and the Reserve Bank of India climaxed on Monday when central bank governor Urjit Patel resigned, days before a board meeting where he would have faced intense pressure. A protracted tiff between the Indian government and the Reserve Bank of India climaxed on Monday when central bank governor Urjit Patel resigned. Read: RBI …

Urjit Patel announces shock exit as RBI governor before term
6 years, 1 month ago

Urjit Patel announces shock exit as RBI governor before term

Hindustan Times  

Reserve Bank of India governor Urjit Patel resigned from the position citing personal reasons with immediate effect on Monday, nearly 10 months before the completion of his term in September next year. The announcement that could potentially roil currency and equity markets on Tuesday triggered a political war of words, with former prime minister Manmohan Singh saying he hoped that …

RBI employee union expresses shock over governor Urjit Patel's resignation
6 years, 1 month ago

RBI employee union expresses shock over governor Urjit Patel's resignation

Firstpost  

Mumbai: The All India Reserve Bank Employees Association has expressed shock over the resignation of central bank governor Urjit Patel, saying one of the trigger points could be a transfer of reserves to the government. Patel, 55, who took over as the 24th governor of the Reserve Bank of India on 5 September, 2016, resigned Monday citing personal reasons. It …

RBI governor Urjit Patel quits: Hope for smooth transition with approach acceptable to all, says corporate India
6 years, 1 month ago

RBI governor Urjit Patel quits: Hope for smooth transition with approach acceptable to all, says corporate India

Firstpost  

New Delhi: India Inc on Monday said it hopes for a smooth transition and “an approach acceptable to all” after RBI Governor Urjit Patel’s resignation, citing liquidity and credit offtake issues in the financial sector. We are looking forward to a smooth transition which leads to good results in terms of an approach that is acceptable to all and good …

How Money Markets May React to RBI Governor Patel’s Resignation
6 years, 1 month ago

How Money Markets May React to RBI Governor Patel’s Resignation

The Quint  

Ananth Narayan, SP Jain Institute Of Management And Research “It is a complete shocker. I am in Hong Kong meeting investors and the reaction internationally is one of shock. Unfortunately, this is coming on the back of what has been a pretty public disagreement between the government and RBI. All the contentious issues discussed so far, I hope and pray …

‘Journalists’ and politicians spread lies about RBI Deputy Governor’s resigning following Urjit Patel’s exit
6 years, 1 month ago

‘Journalists’ and politicians spread lies about RBI Deputy Governor’s resigning following Urjit Patel’s exit

Op India  

As soon as news trickled in that Urjit Patel, the RBI Governor has resigned, with immediate effect, citing personal reasons, the rumour mills of mainstream media and politically motivated elements started running over time. After giving the resignation of Urjit Patel a political colour, journalists and even news agencies started spreading rumours of the Deputy Governor, Viral Acharya, resigning from …

Urjit Patel resigns as RBI governor: Raghuram Rajan, Arun Jaitley, Narendra Modi, Congress and more weigh in
6 years, 1 month ago

Urjit Patel resigns as RBI governor: Raghuram Rajan, Arun Jaitley, Narendra Modi, Congress and more weigh in

Firstpost  

Urjit Patel’s resignation as the governor of Reserve Bank of India on Monday has drawn a sharp reaction from politicians, economists as well as industry leaders inlcuding foremr governor Raghuram Rajan, who said, ‘all Indians should be concerned’ In a not-entirely-unexpected move, Urjit Patel resigned as the Governor of the Reserve Bank of India on Monday, citing personal reasons. Congress, …

‘It’s BJP, RSS agenda’: Rahul Gandhi on RBI governor Urjit Patel’s resignation
6 years, 1 month ago

‘It’s BJP, RSS agenda’: Rahul Gandhi on RBI governor Urjit Patel’s resignation

Hindustan Times  

Congress president Rahul Gandhi on Monday slammed the government on Monday over Reserve Bank of India Governor Urjit Patel’s resignation, calling it the ‘continuation of the BJP, RSS agenda’’. What is happening that the government is getting desperate, RBI governor is not able to function?”, Gandhi said talking to reporters after the Opposition meet in Delhi. This is the result …

RBI governor Urjit Patel resigns as rift with govt widens
6 years, 1 month ago

RBI governor Urjit Patel resigns as rift with govt widens

Live Mint  

Urjit Patel resigned as governor of India’s central bank amid growing differences with the government on addressing issues ranging from problems at the country’s lenders to utilization of capital reserves. The differences came out in the open when Deputy Governor Viral Acharya, in a hard-hitting speech in October, defended the central bank’s independence and sought more freedom in supervising state-run …

Urjit Patel quits as RBI Governor; PM Modi calls him 'a thorough professional with impeccable integrity', Jaitley appreciates his service
6 years, 1 month ago

Urjit Patel quits as RBI Governor; PM Modi calls him 'a thorough professional with impeccable integrity', Jaitley appreciates his service

India TV News  

Reserve Bank of India Governor Urjit Patel on Monday resigned from his post with immediate effect, citing "personal reasons". Finance Minister Arun Jaitley also appreciated the service rendered by RBI Governor Urjit Patel saying it was a pleasure to deal with him and has benefitted from his scholarship. "The Government acknowledges with deep sense of appreciation the services rendered by …

RBI governor Urjit Patel resigns, PM Modi says he will be missed
6 years, 1 month ago

RBI governor Urjit Patel resigns, PM Modi says he will be missed

Hindustan Times  

Reserve Bank of India Governor Urjit Patel has stepped down effective immediately, the central bank’s top official said in a statement. Prime Minister Narendra Modi reacted to Urjit Patel’s decision to step down, describing him as an economist of a very high calibre with a deep and insightful understanding of macro-economic issues. Patel had taken charge as the governor in …

RBI governor Urjit Patel resigns amid messy face-off with govt
6 years, 1 month ago

RBI governor Urjit Patel resigns amid messy face-off with govt

Live Mint  

Of immediate concern is the fallout of Patel’s departure, which came ahead of his tenure ending next September, on the financial markets, particularly with respect to the sentiments of foreign investors and rating agencies. Urjit Patel’s resignation dominated the social media discourse and opened up a fresh line of attack for the opposition, which alleged that the BJP-led National Democratic …

RBI Governor Urjit Patel resigns, PM Modi tweets goodbye
6 years, 1 month ago

RBI Governor Urjit Patel resigns, PM Modi tweets goodbye

India Today  

Reserve Bank of India Governor Urjit Patel today resigned from his post weeks after disagreements between the central bank and the Narendra Modi government came out in the open. "I take this opportunity to express gratitude to my colleagues and Directors of the RBI Central Board, and wish them all the best for the future," Urjit Patel also said, signing …

Urjit Patel resigns as RBI Govenor: Read full text of his resignation letter
6 years, 1 month ago

Urjit Patel resigns as RBI Govenor: Read full text of his resignation letter

India Today  

In a shock move, Reserve Bank of India governor Urjit Patel on Monday resigned from his post citing personal reasons. The resignation comes days after the government and RBI settled their differences at a board meeting on a range of economic issues. Tensions between North Block and Mint Street started building over issues such as relaxation on lending curbs, liquidity …

RBI Governor Urjit Patel parries all questions about spat with govt
6 years, 1 month ago

RBI Governor Urjit Patel parries all questions about spat with govt

India TV News  

Reserve Bank Governor Urjit Patel Wednesday refused comments on the friction with the government, including the invocation of the never-before-used Section 7 or the proposed economic capital framework for the central bank. Another questions seeking his views on deputy governor Viral Acharya’s public posturing on RBI autonomy and on the economic capital management framework were also met with similar replies. …

Govt slugfest with RBI finally ends in a draw
6 years, 1 month ago

Govt slugfest with RBI finally ends in a draw

Deccan Chronicle  

It was an unequal fight to begin with. Raghuram Rajan, arguably the most flamboyant RBI governor in recent times, who set in motion the deep reforms of banks by tightening prudential oversight, was fond of citing the god of the bond market as the final arbiter of the central bank’s performance. An ugly public spat with the RBI could rake …

'Govt stacking up Reserve Bank of India board with allies to turn heat up on governor Urjit Patel'
6 years, 1 month ago

'Govt stacking up Reserve Bank of India board with allies to turn heat up on governor Urjit Patel'

Firstpost  

Now stacked with government nominees who can be counted on to support the administration, the Reserve Bank of India board is being transformed from having a passive advisory role into a body that can exert pressure for policy change New Delhi/Mumbai: As Prime Minister Narendra Modi’s government turns up the heat on the Reserve Bank of India governor to do …

Money matters: Big day for RBI, Centre ties
6 years, 1 month ago

Money matters: Big day for RBI, Centre ties

Deccan Chronicle  

New Delhi: All eyes will be on the RBI board meeting on Monday in Mumbai to see how the intense public battle erupted out between the Narendra Modi government and the central bank plays out. Earlier this month, economic affairs secretary Subhash Chandra Garg had said that the government has not asked the RBI to transfer '3.6 lakh crore to …

Government, RBI must work together, end turf war
6 years, 1 month ago

Government, RBI must work together, end turf war

Deccan Chronicle  

The ostentatious turf battle between the Union finance ministry and the Reserve Bank of India is not the real issue. As India still reels under the socialist module of controlling economic activities, which the present government perpetuates, the public sector banks are pushed and prodded to finance government schemes, whether it be infrastructure projects, agriculture loans and loan waivers, start-up …

RBI vs govt: At 19 November board meet, S Gurumurthy’s economic theories and other pain points await Urjit Patel
6 years, 1 month ago

RBI vs govt: At 19 November board meet, S Gurumurthy’s economic theories and other pain points await Urjit Patel

Firstpost  

Battle lines are drawn and fireworks are likely at the central bank’s board meet scheduled for 19 November. The 18-member central board of the RBI has five members from the central bank including the governor and the rest are government nominees. The signals are clear from the recent statements of Swaminathan Gurumurthy, the RBI’s board member who was recently appointed …

Govt to continue pressing Reserve Bank of India for relaxing norms, funds to boost lending
6 years, 2 months ago

Govt to continue pressing Reserve Bank of India for relaxing norms, funds to boost lending

Firstpost  

The reports of rift between the central bank and the government surfaced last month following which the finance ministry reportedly started discussion with the RBI under the never-used before Section 7 of the RBI Act. New Delhi: Keeping up the heat on the Reserve Bank of India, the government will continue to press the central bank to relax norms to …

From demonetisation jokes to becoming RBI’s knight in shining armour, Urjit Patel is now the real rockstar of Mint road
6 years, 2 months ago

From demonetisation jokes to becoming RBI’s knight in shining armour, Urjit Patel is now the real rockstar of Mint road

Firstpost  

When Urjit Patel took the Reserve Bank of India governor’s post in September 2016, he was seen as a big departure from his predecessor Raghuram Rajan. One of Patel’s critics was Usha Thorat, a former RB deputy governor who wrote an Op-ed, A note to RBI in the Indian Express : “There have been times when the Old Lady of …

Finance Ministry baits RBI afresh, two days after declaring truce
6 years, 2 months ago

Finance Ministry baits RBI afresh, two days after declaring truce

Live Mint  

New Delhi: Two days after declaring a truce with the Reserve Bank of India, the ministry of finance has baited the central bank again, pointing out that the financial markets remain resilient and there are no signs of the wrath of the market. Garg’s comments are seen as a response to a speech by RBI deputy governor Viral Acharya last …

The cast of characters in the Govt vs RBI fight
6 years, 2 months ago

The cast of characters in the Govt vs RBI fight

Live Mint  

A day after the two sides publicly and bitterly crossed each other, the Reserve Bank of India and the union government took a step back on Wednesday. Here’s a look at the key personalities involved in the public spat: Urjit Patel, governor of the Reserve Bank of India RBI governor Urjit Patel’s silence is also his biggest weapon: he has …

Urjit Patel versus Centre: NDA govt has a strong case to influence RBI, but only irony is that it is turning Nehruvian
6 years, 2 months ago

Urjit Patel versus Centre: NDA govt has a strong case to influence RBI, but only irony is that it is turning Nehruvian

Firstpost  

Urjit Patel has won considerable sympathy among the nation’s economic elite for asserting that the RBI needs autonomy and independence to perform its role In a symbolic move, the Reserve Bank of India governor Urjit Patel walked into North Block on Tuesday for a meeting of the Financial Stability and Development Council with four of his deputy governors in tow …

Govt vs RBI: Arun Jaitley, Urjit Patel settle for an uneasy truce, for now
6 years, 2 months ago

Govt vs RBI: Arun Jaitley, Urjit Patel settle for an uneasy truce, for now

Live Mint  

New Delhi/Mumbai: A day after the two sides publicly and bitterly crossed each other, the Reserve Bank of India and the union government took a step back on Wednesday. Conceding that differences can arise, the carefully-worded finance ministry release admonished RBI, saying, “ government of India has never made public the subject matter of those consultations. The first letter was …

RBI chief Urjit Patel set to meet Arun Jaitley today amid growing rift
6 years, 2 months ago

RBI chief Urjit Patel set to meet Arun Jaitley today amid growing rift

Live Mint  

Mumbai: India’s finance minister and its central bank governor are set to meet face-to-face in New Delhi on Tuesday amid mounting tension between them over the autonomy of monetary policy makers. Finance Minister Arun Jaitley will chair a meeting of the Financial Stability and Development Council, which Governor Urjit Patel is scheduled to attend. The tension prompted former Finance Minister …

Govt very upset with Reserve Bank of India for making rift public, holds Urjit Patel responsible
6 years, 2 months ago

Govt very upset with Reserve Bank of India for making rift public, holds Urjit Patel responsible

Firstpost  

Government officials have recently called for the Reserve Bank of India to relax its lending restrictions on some banks New Delhi: Government officials are very upset with the Reserve Bank of India for publicly talking about a rift with the government, fearing it could tarnish the country’s image among investors, senior officials said on Monday. On Friday night, the RBI …

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