Urjit Patel New governor of RBI .Reserve bank of India is the central bank of India and it is the head of all the banking and financial institutions in India. It formulates monetary policy for the country and helps maintain proper growth and curb the inflation of the country though various policy rates. It also does a number of other functions related to the financial institutors.
It is regulatory body for the banks and financial institutions and fulfills the need of credit for the bank and government. It also sells government security in open market and provides short terms advances to the government. The head of the resave bank of India is called governor. The current governor of the RBI is MR Raghuram Rajan who is going to retire on September 4 and after this the charge will be given to Urjit Patel who is currently one of the deputy governor of the central bank.
Urjit paten the next RBI governor
Urjot patel First appointed on 11 January 2013 as a deputy governor to replace Subir Gokarn, he was reappointed in January 2016 for another three years. According to some news, the finance minister Arun Jaitley said that the final decision is yet to be taken but is is almost certain that the next RBI governotr will be Urjit Patel. He is also called the closed associate of Ambani.
As far as the educational qualification of Urjit patel is concerned He is a PhD (economics) from Yale University (1990) and MPhil from Oxford (1986). He has been a nonresident Senior Fellow, The Brookings Institution since 2009. Candidates who are going to appear for the banking examination should know that this is very important news and candidates should know some of the useful details about him.
Before his appointment as Deputy Governor of RBI in 2013, he was an advisor on energy and infrastructure at The Boston Consulting Group. He has worked closely with Raghuram Rajan and it is supposed that he may take up the responsibilities well