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...Mr Rajan, whose outspokenness while in office annoyed the government, urged New Delhi to tread cautiously and “act appropriately” after his successor’s departure....
...Instead of diminishing, bad loans rose steadily as two successive Reserve Bank of India governors, Raghuram Rajan and Urjit Patel, sought to end the central bank’s traditional regulatory forbearance, and...
...In the Indian case, Mr Patel was initially viewed as someone who could bring quiet stability to the RBI after the high-profile tenure of his predecessor, Raghuram Rajan, who had sought to restore India’s...
...Mr Patel had provoked controversy in March, amid news of an alleged $2bn fraud at Punjab National Bank, by complaining about the RBI’s limited powers over state-controlled banks....
...“We are fortunate that we have some functioning institutions,” he says, praising the independence of both Mr Patel and Raghuram Rajan, his predecessor as governor....
..., Mr Patel’s high-profile predecessor....
...Since then, Mr Rajan and Mr Patel have raised the RBI’s stature and restored investor confidence in India’s macroeconomic stability....
...Mr Patel’s predecessor, Raghuram Rajan, went a long way to restoring the RBI’s inflation-fighting credentials during the three-year term he served to September 2016....
...Mr Patel was appointed in September 2016 after a previous, more discreet stand-off over policy between the government and his high-profile predecessor Raghuram Rajan, who unexpectedly returned to US academia...
...Raghuram Rajan, Mr Patel’s predecessor, argues the strength of the RBI’s balance sheet also allows it to borrow cheaply. Yet it is not obvious even these arguments justify such a huge net worth....
...Rajan....
...Raghuram Rajan, Mr Patel’s predecessor as RBI governor, has also warned that the RBI’s strong capital position is key to its prized triple-A credit rating, which would allow it to borrow in a crisis....
...The tensions were widely seen as a factor behind the exit of governor Raghuram Rajan, a former IMF chief economist, in 2016....
...Mr Modi also parted ways with two respected central bank governors: Raghuram Rajan, who had pressed hard for state banks to speed up their recognition of bad loans; and Urjit Patel, who carried on with the...
...But some worry that following Mr Rajan’s departure and the implementation of demonetisation with little input from his successor Urjit Patel, Mr Gurumurthy’s appointment represents another diminution of...
...in contrast to his high-profile predecessor, Raghuram Rajan, whose socio-political commentaries irked the government....
...Urjit Patel, central bank governor, complained earlier this month that he did not have full power to regulate state-owned banks and therefore prevent scandals such as this....
...Today’s cut is also the second time policy has been eased under central bank governor Urjit Patel who joined the RBI last August, replacing Raghuram Rajan, a former chief economist at the International Monetary...
...Ex-RBI governor Raghuram Rajan talked about it before and here’s current RBI governor Patel in April: Waivers undermine an honest credit culture… It leads to crowding-out of private borrowers as high government...
...The new monetary policy committee is led by the RBI governor, Urjit Patel, a low-key former deputy governor, who was promoted last month after his high-profile, outspoken predecessor Raghuram Rajan announced...
...Mr Patel’s critique echoes the words of his predecessor, Raghuram Rajan, who was critical of a 2008, Rs650bn farm loan waiver granted by Manmohan Singh’s government in a bid to stimulate the economy amid...
...Governor Patel, who replaced the highly vocal Raghuram Rajan as RBI governor in September, has been roundly criticized for his silence during demonetisation....
...Although Reserve Bank of India governor Raghuram Rajan is stepping down, his replacement Urjit Patel is regarded as a safe pair of hands who will continue his work, much to the relief of investors....
...As governor, Mr Patel is also likely to keep a far lower profile than Mr Rajan....
...While Dr Lowe is expected to provide a smooth transition from his predecessor Glenn Stevens, there’s a bit more speculation as to whether Dr Patel will follow in the footsteps of Raghuram Rajan, known for...
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