URJIT PATEL
Former RBI Guv Urjit Patel set to join Britannia Industries board again
Urjit Patel, former RBI governor, joins Britannia Industries board as an independent director. He recommenced after a two-year hiatus following his resignation in 2018. Patel’s diverse experience includes stints in both the private sector and central bank, distinguishing him from his predecessors. As a seasoned professional, he brings a unique perspective to the boardroom, ensuring a blend of regulatory expertise and corporate governance.
Britannia appoints ex-RBI Guv Urjit Patel as independent director
Britannia has appointed former Reserve Bank of India Governor Dr. Urjit Patel and Atul's MD Sunil Siddharth Lalbhai as Additional Non-Executive Independent Directors for five consecutive years, effective from July 2, 2024, to July 1, 2029. Patel served as the 24th Governor of RBI and was Deputy Governor from 2013 to 2018.
RBI continues battle against inflation; all eyes on possible rate cut in 2024
RBI Governor Shaktikanta Das, who is into the last year of his second three-year term at the helm of the central bank, has been steadfast in highlighting the need to get the inflation down to 4 per cent on a durable basis.
5 years of Shaktikanta Das: How a humble Guv calmed a turbulent RBI
Shaktikanta Das, the Governor of the Reserve Bank of India, faced a challenging role when he joined five years ago amidst a government-RBI conflict. Tasked with stabilising after his predecessors' - Raghuram Rajan and Urjit Patel - disputes with the government, Das aimed to restore confidence and stability to the RBI.
Why RBI needs to keep healthy distance from the government
...RBI generates revenues primarily via seigniorage. It prints money and distributes it through banks, or credits banks with electronic reserves, to help settle transactions in the economy. Typically, it does not pay interest on the currency or reserve liabilities. At times, it also makes money by buying dollars when the rupee is strong and selling them when the rupee is weak. It incurs costs, too, an important one being that of printing and replacing currency notes.
RBI resisted govt push for Rs 3 lakh cr transfer in 2018 ahead of elections: Viral Acharya
Former Reserve Bank of India (RBI) Deputy Governor Viral Acharya has revealed in a prelude to his book that the RBI resisted a government plan in 2018 to extract Rs 2-3 lakh crore from its balance sheet for populist spending in the run-up to the 2019 general elections. The government even considered invoking a never-used section of the RBI Act to issue directions to the central bank.
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Ex-RBI Governor Urjit Patel appointed Vice President of AIIB
India is a founding member of the Asian Infrastructure Investment Bank (AIIB) with the second highest voting share after China. It is headed by former Chinese vice minister for finance Jin Liqun. Patel had taken over as the 24th Governor of the Reserve Bank of India (RBI) succeeding Raghuram Rajan on September 5, 2016.
Shaktikanta Das faces bigger challenge in second term to leave a legacy
Forecasts in financial markets, more often than not, end up being way off the mark. But one forecast that everyone involved in crystal-ball gazing on the Indian economy seems to have got right was the reappointment of Shaktikanta Das as Governor of the Reserve Bank of India.
Britannia appoints former RBI governor Urjit Patel as additional director of the company
"This is to inform you that the Board of Directors of the company at their meeting held today 31 March, 2021, approved the appointment of Dr Urjit Patel, as an additional director of the company in the category of non-executive and independent director with effect from 31 March, 2021 for a term of 5 years i.e., upto 30th March, 2026, subject to approval of the shareholders of the company,” Britannia said.
MEA to hold 3-day conference on geoeconomics coming weekend
The conference, being held along with the think-tank Pune International Centre, will also see senior representatives from the governments of Australia, Japan, Mauritius, Maldives and Bhutan speaking, they said.
India should drive growth without depending on rate cuts: Acharya
Acharya, who quit RBI ahead of his tenure coming to an end last year, said India has to devise ways of pushing up growth in a structural manner and not by "pump-priming" measures like easy credit and easy liquidity.
View: As an instrument of monetary policy, inflation targeting has outlived its utility
A major problem with inflation targeting has been that it ignores asset price bubbles, whether in the housing market or the equity market. For example, inflation was under control when the sub-prime crisis built up and then blew up.
View: IBC remains suspended but its spirit lives on
However, Reserve Bank of India (RBI) Resolution Framework for Covid-19 Related Stress (RBIFC) of 6th August brought us back into the realm of what can be described as insolvency proceedings. Thus, the extension of suspension announced on 24th September is different from the initial one as explained below.
What led to Urjit Patel's premature exit from the RBI? Inside his tell-all book
“Instead of buttressing and future-proofing the gains thus far, an atmosphere to go easy on the pedal ensued. A case of our old failing of a premature pronouncement of victory, perhaps? Until then, for the most part, the finance minister and I were on the same page, with frequent conversations on enhancing the landmark legislation’s operational efficiency.''
Fear of 3Cs either red herring or exaggeration behind which bankers take shelter to not protect depositors' interest: Urjit Patel
Patel makes these remarks in his book "Overdraft: Saving the Indian Saver" in which he talks of banking crisis and tells how he worked out the '9R' strategy during his tenure when the problem of unsustainable bad debts or NPAs in the Indian banking sector was at its peak.
Former RBI Governor Urjit Patel says new bankruptcy law caused rift with government
The rift centered around a February 2018 circular issued by the RBI, which forced banks to immediately classify borrowers as defaulters when they delayed repayments, barred defaulting company founders from trying to buy back their firms during insolvency auctions, and push them into bankruptcy if a resolution timeline wasn’t met.
Former RBI Governor Urjit Patel appointed as NIPFP Chariman
The appointment indicates a return to the fold of the finance ministry after Patel resigned as RBI governor in 2018 citing personal reasons, with nine months remaining in his term.
India should keep public finances healthy: Former RBI chief Urjit Patel
India must keep public finances healthy to save financial sector from a possible second wave of risks, Patel said.
History behind, Das-led RBI charts new trails sans acrimony
Even as it eased the rates, the RBI slashed growth estimates by an unprecedented 240 basis points since the rate cutting cycle began in February to a low of 5 per cent. The central bank's youngest Deputy Governor ever -- Viral Acharya -- quit six months before his three-year term was to end in June 2019.
Growth a national objective: Shaktikanta Das
Das, while speaking at the postpolicy press conference on Thursday, said at a critical juncture where growth was slacking, it was of paramount importance that monetary policy and fiscal policy work in coordination to achieve the best results in the national endeavour to revive growth. The career bureaucrat entered the RBI headquarters last December.
Shaktikanta Das faces an increasingly tough balancing act
Das has worked tirelessly to restore relations with govt after a bitter public spat that led Urjit Patel to quit.
Urjit Patel’s unfinished job
Patel was piloting the bank system from chaos to order, his successor must take up the task
Shared bonhomie with Urjit Patel despite differences: S Gurumurthy
Gurumurthy also took to Twitter to explain his position, calling Patel's resignation “a shock, particularly after the cordial board meeting".
Urjit Patel quits RBI citing personal reasons
Despite an apparent easing of tensions at the last RBI board meeting, Patel’s tough stance against government demands on PCA could have been the immediate trigger for the resignation
These six things drove Urjit Patel and government apart
The fire was lit with RBI deputy governor Viral Acharya's speech on October 26 defending the autonomy of the central bank.
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