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New RBI Governor Urjit Patel's Views On Key Topics

Here are some of his views on various issues, compiled from speeches and reports over the past few years

Photo Credit : PTI

1471712742_PnImOr_urjitpatel3.jpg

The Narendra Modi government named Urjit Patel, a Reserve Bank of India insider, as the bank's next governor, effective on September 4, signalling continuity in the policies championed by outgoing head Raghuram Rajan.

Patel has given few speeches or media interviews, though he has written for Brookings Institution as a non-resident Senior Fellow.

Below are some of his views on various issues, compiled from speeches and reports over the past few years:

ON BANK LENDING
Need to examine metric for effective lending, prioritise loans to enterprises which will generate more employment

A much larger number of small business loans should be encouraged rather than an overriding emphasis on very large loans

Finance for small entrepreneurs, SMEs and employment creation may be reinforced

Banks may have to revisit the individual company/group credit exposure limits, as well as sector exposures as part of better risk management practices

Click here to read full speech, January 2015


ON INFLATION

Bringing down government-induced aggregate demand in budget proposals helps bring down inflation expectation, drive private investment in the medium term

Click here to read full speech, March 2012

There has been an excessive reliance on monetary policy in the absence of the requisite fiscal retrenchment in the fight against inflation

Click here to read full speech, February 2012


ON INDIA'S FISCAL POSITION
One form of expenditure growth mitigation could be a phased expansion in entitlement coverage so that the impact on the budget is spread over several years

Click here to read full speech, February 2012

ON FOREIGN INVESTMENT

More stable and durable inward investment can be expected if legislation is passed to allow higher foreign investment in insurance companies in India and to lift voting rights of foreign investors in Indian banks

Click here to read full speech, March 2011


ON GOODS AND SERVICES TAX
Implementing a comprehensive GST should not be delayed


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