Mumbai: The key stock exchanges had a gap-down opening on Tuesday, with the S&P BSE Sensex losing over 450 points as investors were spooked on the surprise resignation of RBI Governor Urjit Patel on Monday. Further, early trends of the Assembly election results in five states which showed a neck[Read More…]
Tag: Urjit Patel
Here are some key personalities who have resigned under the Modi regime
With Urjit Patel calling it a day the list of resignations occurring under the Modi government increases further. Urjit Patel resigned from his post of RBI Governor 9 months before his term would have ended in September 2018. Other key persons who have quit after the Modi govt came to power are[Read More…]
Urjit Patel’s resignation severe blow to economy: Manmohan Singh
New Delhi: Expressing sadness over RBI Governor Urjit Patel’s resignation, former Prime Minister Manmohan Singh on Monday said Patel’s sudden decision to demit office is a severe blow to the Indian economy. In a statement, Singh described Patel as an “economist of high repute and also someone who cared deeply[Read More…]
RBI Governor Urjit Patel steps down
Urjit Patel, the Governor of Reserve Bank of India has given his resignation from the post on Monday December 10. Patel said he was resigning on the account of personal reasons. “On account of personal reasons, I have decided to step down from my current position (RBI Governor) effective immediately.[Read More…]
RBI to pump liquidity worth Rs 8,000 cr on Nov 22
Mumbai: The Reserve Bank of India (RBI) would inject Rs 8,000 crore into the market by purchasing government securities on November 22, 2018. The decision comes amid concerns of a liquidity crisis in the economy after the financial services company IL&FS reported defaults in September. “Based on an assessment of[Read More…]
Rahul hopes RBI Governor will show Modi ‘his place’
New Delhi: Congress President Rahul Gandhi on Monday charged the Centre with destroying institutions and hoped Reserve Bank of India (RBI) Governor Urjit Patel will show Prime Minister Narendra Modi “his place”. He accused Modi of attempting to “destroy the RBI” through his “puppets” and “cronies”. “Modi and his coterie[Read More…]
Urjit Patel grilled by Parliamentary panel, seeks more powers for RBI
New Delhi: RBI Governor Urjit Patel, who was on Tuesday grilled by parliamentarians over challenges being faced by the banking sector including the huge number and size of bad loans and frauds like the one in Punjab National Bank, sought more powers for the central bank to oversee Public Sector[Read More…]
RBI Governor called by parliamentary panel on May 17
New Delhi: A parliamentary panel has called RBI Governor Urjit Patel on May 17 to answer queries on banking frauds and the powers that the central bank needs for better regulation of public sector banks (PSBs). Sources said the decision was taken at a meeting of the Standing Committee on Finance,[Read More…]
New Rs 50 note seen in Mumbai before official release
Even before the Reserve Bank of India( RBI) released the new Rs 50 denomination notes, a man was seen in possession of them in Mumbai. The incident is seen as a matter of security breach. It is still not clear how and from where did the man get the notes.[Read More…]
Rs 200 notes to be issued on Friday: RBI
The new Rs 200 notes will be in circulation from Friday, the Reserve Bank of India (RBI) announced on Thursday. The Rs 200 denomination banknote in the Mahatma Gandhi (New) series will bear the signature of RBI Governor Urjit R. Patel and will be initially issued by select RBI offices[Read More…]
No more printing of Rs 2000 notes by Reserve Bank of India
It is reported that The Reserve Bank of India stopped printing Rs 2000 notes in March this year. The federal bank is also not likely to print any more Rs 2,000 notes in the current financial year. The RBI, meanwhile, has shifted its focus on printing the newly approved denomination of[Read More…]
A single sentence from the Essar verdict can ruin Urjit Patel’s war against loan defaulters
Even though Raghuram Rajan, former RBI governor, co-wrote the influential 2003 book, “Saving Capitalism From the Capitalists,” it has fallen upon his successor at the Reserve Bank of India to actually attempt such a thing. By the looks of it, Urjit Patel has a hard slog ahead. For now, the[Read More…]
Modi govt looking for math tutor, Rahul Gandhi mocks govt as RBI still counting demonetised notes
Taking a jibe at the Centre, Congress vice-president, Rahul Gandhi, on Thursday slammed the RBI governor, Urjit Patel, as he defended the delay in the counting of old demonetised notes of Rs 500 and Rs 1,000. He took to Twitter to slam the RBI chief. He wrote, “Government of India[Read More…]
GST to reduce tax burden: Urjit Patel
On Thursday, the Reserve Bank Governor Urjit Patel said that to be implemented goods and services tax (GST) will not only create a national market but will also broaden the tax base which in turn will lower the overall taxes in the long-term. “The prudent point is that GST itself[Read More…]
Culprit who sent threat mail to RBI Governor arrested
Demonetisation briefing: Manmohan Singh saved Patel from grilling by MPs
Former Prime Minister Manmohan Singh saved RBI Governor Urjit Patel on Wednesday from the possible grilling by a parliamentary committee over the demonetisation issue. While Patel was struggling with the tough questions by MPs, Singh intervened and said that the central bank and the Governor’s position as an institution should[Read More…]
Demonetisation: RBI Governor to appear before finance panel on Dec 22
Parliamentary Standing Committee on Finance asking Reserve Bank of India (RBI) Governor Urjit Patel to appear before it on December 22. Top sources and members of the committee confirmed that Patel had been “invited” to appear before it. “Summoning is too strong a word; we have invited Patel to meet[Read More…]
Despite cash crunch, RBI leaves repo interest rate unchanged
Despite the possibility of growth being impacted due to the crippling cash crunch since the currency ban, the Reserve Bank of India (RBI) on Wednesday left the main repo interest rate unchanged at 6.25 per cent, to keep inflation in check. The repo rate is the interest rate at which[Read More…]
Demonetisation chaos: Bank officers union calls for Urjit Patel’s resignation
D Thomas Franco, senior vice president of the All India Bank Officers Confederation, has called for the resignation of Reserve Bank of India governor Urjit Patel. He said that Urjit Patel should take the moral responsibility of the havoc created in country due to unplanned decision of demonetisation, which resulted[Read More…]
Urjit Patel is new RBI governor: 6 things to know about him
Ending the speculation, as who will be the successor of Raghuram Rajan the government has finally announced that Urjit Patel will take over as the 24th Governor of the Reserve Bank of India. Patel was serving as the deputy governor incharge of the monetary policy department. Here is brief profile[Read More…]