Former RBI Governor, Urjit Patel, appointed as ED at IMF
Former Governor of Reserve Bank of India (RBI), Urjit Patel, has been appointed Executive Director at the International Monetary Fund (IMF), government said in a statement on Friday.
Former Governor of Reserve Bank of India (RBI), Urjit Patel, has been appointed Executive Director at the International Monetary Fund (IMF), government said in a statement on Friday.
Acharya submitted a letter to the RBI informing that due to 'unavoidable personal circumstances' he is unable to continue his term beyond July 23, 2019.
Addressing the media on monetary policy, Das said the GDP growth has been projected at 7.4 per cent for 2019-20.
Congress calls the interview a "monologue" with "full of jumla"; BJP says PM Modi demolished the “motivated agenda” of Opposition parties with this comprehensive interview on the New Year Day
That two economists of international eminence have found it impossible to serve as its governors under the current dispensation is self-revealing of the narrow straits into which India’s central bank is being forced into, which is far from edifying.
"Stand up to him Mr. Patel. Protect the nation," Rahul added.
Former Union Finance Minister P Chidambaram alleged on Saturday that Prime Minister Narendra Modi is trying to remove Reserve Bank of India (RBI) Governor Urjit Patel because the Swadeshi Jagran Manch (SJM) wants it.
Reports earlier in the day said that the government has invoked never-before-used powers under Section 7 of the RBI Act allowing it to issue directions to the central bank governor on matters of public interest.
The rift between the government and the RBI surfaced after Deputy Governor Viral Acharya in a hard-hitting speech on Friday pitched for “effective independence” of the central bank.
The RBI governor has maintained that depreciation in rupee has been moderate compared to emerging market peers.
