Urjit Patel to take over from Rajan at RBI
Deputy governor led work on India’s new inflation-targeting framework
The Indian government has chosen Urjit Patel to replace outgoing Reserve Bank of India (RBI) governor Raghuram Rajan, who is due to step down on September 4.
Patel, currently a deputy governor at the RBI, led the work in laying the foundations for India's new inflation-targeting regime. A key recommendation of his investigation – launched by Rajan as one of his first acts in office – was for monetary policy to be set by a committee, rather than just the governor.
As governor, Patel will now
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