The new regime at RBI under Urjit Patel
RBI governor Urjit Patel knows his onions and will not surrender the Reserve Bank of India's independence
Urjit Patel completes his second year as Reserve Bank of India (RBI) governor on Tuesday. Not too many finance ministry bureaucrats seem to be fond of him. Ditto bankers. The reasons are different though. Patel’s predecessor Raghuram Rajan took over in the thick of the taper tantrum and D. Subbarao, who Rajan succeeded, had seen the collapse of Lehman Brothers Holdings Inc. a few days after he took over. For Patel, demonetisation was baptism by fire.