urjit patel - Latest News, Analysis, Opinion

Regulators should have acted earlier, and had failed in gauging when extant assumptions were getting stretched and needed revision. He also blamed the government for not playing its role completely as the principal shareholder and manager of the economy's health.

Government Meddling In RBI Could Undermine India's Financial Stability: S&P Global

"S&P Global Ratings views as credit negative the circumstances leading to the recent resignation of Urjit Patel, governor of the Reserve Bank of India (RBI)," S&P analysts Michael Puli and Andrew Wood said in a note

RBI is now a thriller material. Conspiracy theories can aid juicy scripts

Madhavan Narayanan

Given that Urjit Patel was under pressure on everything from sharing RBI's reserves with the government to public sector bank reforms, public sympathy aided by media stories is such that the BJP's rating can only suffer a jolt as a result of his exit

Urjit Patel's Resignation Comes At A Sensitive Time, To Dampen Sentiments: DBS

Governor's departure is likely to push 10-year INR yields back above 7.6 per cent in a knee-jerk sell-off

RBI Governor Urjit Patel Resigns, Cites Personal Reasons

Economy

Patel was appointed the 24th Governor of the RBI on September, 2016 for a three-year term

Urjit Patel Parries All Questions About Spat With Govt

Section 7 of the RBI Act which empowers govt to direct the central bank to undertake certain policy measures in public interest

RBI Board Meets Amid Row With Government, Markets On Guard

Unhappy over the pressure, RBI Deputy Governor Viral Acharya had warned that undermining central bank independence could be "catastrophic"

Modi Stacks RBI Board With Allies To Turn Heat Up On Governor

Two board members told media sources that government pressure for easier lending policies is likely to become abundantly clear at RBI's board meeting today

Finance Ministry Says RBI Autonomy 'Essential'

"The autonomy of the central bank is an essential and accepted governance requirement," Finance Ministry said in a statement

Chidambaram Slams Centre For Reportedly Referring To Never-Used Clause In RBI Act

Chidambaram said that the governments he was a part of in the past had never used Section 7 of the RBI Act of 1934, under which a direct order can be issued by the government to the central bank to carry out its wishes in "public interest"

Finance Ministry To Shortly Issue A Statement On Government-RBI Rift

Earlier in the day, media reports suggested that RBI Governor Urjit Patel may consider resigning from his post given a breakdown in relations with the government, sparking a sell-off in the rupee and government bonds

Govt Cites Never-Used Powers For Resolving Issues With RBI

Finance Ministry and RBI are said to have differed on the central bank's handling of weak public sector banks, tight liquidity in the market and ways of resolving bad loans in the power sector

RBI Governor Urjit Patel May Resign, Reports Say; Rupee Down

The government has invoked never-before-used powers under the RBI Act that allow it to issue directions to the central bank governor on matters of public interest

RBI Shuns Market Expectations, Keeps Policy Rates Unchanged