Urjit Patel: News

RBI's Deputy Governor Viral Acharya quits before term ends: Report

Viral Acharya, the Deputy Governor of Reserve Bank of India (RBI), has tendered his resignation, Business Standard reported on Monday.

01 Jan 2019

Narendra Modi

Ram Mandir to Urjit Patel: Highlights from PM Modi's interview

As 2018 turned to 2019, Prime Minister Narendra Modi kickstarted the new year with an exclusive interview with news agency ANI.

Operational independence of central banks important: IMF director

The International Monetary Fund (IMF) yesterday said that "operational independence" of central banks like the Reserve Bank of India (RBI) was important for carrying out their responsibilities.

SC dismisses PIL against Finance Minister Arun Jaitley

The Supreme Court today refused to recall its order by which it had imposed a fine of Rs. 50,000 on a lawyer for filing a PIL against Finance Minister Arun Jaitley, raising allegations relating to the capital reserve of the Reserve Bank of India (RBI).

Shaktikanta Das becomes the new RBI governor

On Tuesday, Shaktikanta Das was made the Governor of Reserve Bank of India after Urjit Patel resigned on Monday. He will join office immediately.

Urjit Patel first RBI Governor to officially resign since 1957

Reserve Bank of India (RBI) Governor Urjit Patel's resignation from his post has made him the third RBI Governor to officially resign.

Assembly poll results, Urjit Patel's sudden resignation upset market

Benchmark equity indices opened with heavy losses today, as investors were on edge ahead of the final assembly election results from five states, amid plummeting rupee after RBI Governor Urjit Patel's unexpected resignation.

Urjit Patel resigns as Governor of Reserve Bank of India

Reserve Bank of India Governor, Urjit Patel, has stepped down from the position with immediate effect amid rift with the government on various issues.

02 Dec 2018


RBI likely to keep interest rate unchanged on December 5

The Reserve Bank is likely to maintain status quo on interest rate in the upcoming monetary policy review on December 5 despite moderation in economic growth and easing inflation, suggested experts.

The falling rupee: Sheds 9 paise against US dollar

The rupee depreciated by 9p to 72.02 against the USD in early-trade today at the interbank foreign exchange.

RBI board meeting: Key issues to be discussed

Amid tensions between the government and the Reserve Bank of India (RBI), the RBI, board, on Monday, started a meeting to try and work out its differences with the government pertaining to policy.

31 Oct 2018

Narendra Modi

RBI vs Modi government: All about the spat, Section 7

The ongoing spat between the Reserve Bank of India (RBI) and the Modi government is public knowledge by now.

In a surprise move, RBI keeps policy rates unchanged

The Reserve Bank opted for a surprising status quo at the bi-monthly review today on expectations of softening price rise, but changed the policy stance to "calibrated tightening" from "neutral".

RBI Governor Urjit Patel to deliver lecture to anti-corruption officers

RBI Governor Urjit Patel is scheduled to deliver a lecture to senior anti-corruption officers working with banks and other public sector organizations next week in New Delhi.

01 Aug 2018


FRDI Bill withdrawn on apprehensions expressed by public: Piyush Goyal

The government has decided to withdraw Financial Resolution and Deposit Insurance (FRDI) Bill following apprehensions expressed by the public with regard to the "bail-in" clause to resolve a failing bank and insurance cover on bank deposits, Finance Minister Piyush Goyal told a Parliamentary Committee.

RBI must monitor banks with off-site surveillance, on-site inspection: Union

Reserve Bank union today requested Governor Urjit Patel to monitor banks through a combination of risk-based supervision, off-site surveillance and on-site inspections of operational systems.

22 Apr 2018


India's pace of growth to accelerate in 2018-19: RBI Governor

Asserting that the Indian economy turned in a resilient performance in 2017-18, RBI Governor Urjit Patel has said the country's growth is expected to accelerate in 2018-19.

17 Apr 2018


Parliamentary panel summons RBI Governor to answer queries on bank-scams

A parliamentary panel has called Reserve Bank Governor Urjit Patel on May 17 to answer queries on a spate of banking scams unearthed in the last few months, sources said.

04 Oct 2017


RBI: Repo rate remains unchanged at 6%; GVA growth-estimate slashed

Urjit Patel-led six-member Monetary Policy Committee (MPC) of Reserve Bank of India has kept the repo rate unchanged at 6% as per expectations.

09 Sep 2017


RBI governor's term and tenure must be safeguarded: Rajan

A few days after revealing sensational details about the demonetization exercise, former RBI governor Raghuram Rajan has said the central bank head's "term and turf" have to be safeguarded.

28 Aug 2017


99% demonetized Rs. 1,000 notes returned to RBI

The RBI website announced that roughly 99% of the demonetized Rs. 1000 currency notes had returned into the banking system.

RBI cuts interest rates, loans to get cheaper

The RBI has cut repo rate by 25 basis points to 6%, the lowest in more than 6.5 years, during its policy review today.

Demonetization: Still counting number of returned notes, says Urjit Patel

RBI Governor Urjit Patel appeared before the Parliamentary Standing Committee on Finance to answer queries regarding demonetization.

08 Jun 2017


RBI Monetary Policy Committee keeps repo rate unchanged at 6.25%

Governor Urjit Patel-led six-member Monetary Policy Committee (MPC) of the Reserve Bank of India kept the repo rate (short-term lending rate) unchanged, while slashed the statutory liquidity ratio (SLR) by 50 basis points to 20% in their second bimonthly monetary policy review.

17 Feb 2017


Rs. 2000 notes printed when Rajan was governor

Reports revealed that even though the Rs. 2000 bears the signature of current RBI governor Urjit Patel, the printing began when Raghuram Rajan was in office.

07 Dec 2016


RBI maintains repo rate at 6.25%

Amidst rising expectations of a rate cut from the Reserve Bank of India, the central bank kept the repo rate unchanged at 6.25%.

07 Nov 2016


Rs.1 note now printed at a profit

In an RTI filing, the RBI revealed that two mints charge different amounts for printing the same currency notes.

19 Oct 2016


RBI looks to tackle growth over inflation

In its first monetary policy meeting, the RBI said that all of the monetary policy committee's members had voted in favour of the repo rate cut that was announced earlier this month.

01 Oct 2016


RBI directs banks to publish photos of only wilful defaulters

The Reserve Bank of India directed lenders and other financial banking institutions to not resort to publishing photographs of all defaulters indiscriminately.

04 Sep 2016

Raghuram Rajan

Urjit Patel taking charge as RBI Governor on 6 September

With Raghuram Rajan's tenure as RBI Governor seeing an end after he announced his decision to step down from taking up a second term, Urjit Patel will take over the reins as his successor on Tuesday.