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How New RBI Governor Patel’s Style Differs From Rajan’s
Keywords: Rbi, Reserve Bank Of India, Rbi Patel, Rbi Rajan,
Parussini describes the different style of new RBI Governor Urjit Patel, who is no rock star economist like his predecessor Raghuram Rajan. Rajan is quoted as once saying; "My name is Raghuram Rajan and I do what I do." Rajan engaged widely with the media. At his first press conference Patel made a short statement thanking RBI staff, and turned it over to staff at RBI who talked about financial supervision, banking regulation and other issues. Patel's answers were short without follow-up questions, the whole event over in 20 minutes. Patel was chosen by the new government of prime minister Modi to run RBI in 2016.
Inflation and RBI central bank policies in India under Rajan in 2014-2015 with the election of the new Modi administration
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Keith Bradsher's NYT interview with Raghuram Rajan, Governor of the Reserve Bank of India, Jan. 14, 2015
01/15/2015
Rajan says he works well with prime minister Modi's economic policymaking team, including Arun Jaitley, the finance minister, and economic advisors to the Indian government. With the drop in oil prices there was pressure from the business sector and the small business support base of the new government for a reduction in interest rates. Rajan says he held off on reducing rates at the Dec. 2, 2014 meeting because it was not clear at the time whether the oil prices would remain low for an extended period. Since then inventory data and OPEC policymakers guidance show the prices are likely to remain low for an extended period. On Jan. 14, 2014, Rajan lowered rates by one quarter of a percentage point. In the Indian setup the Governor of the central bank makes decisions compared to the Federal Open Market Committee making decisions at the U.S. Federal Reserve.
Grouped Articles
Raghuram G. Rajan, India’s Central Banker, in Defense Mode
New York Times 01/15/2015
India’s Inflation Fight Pays Early Dividend
Wall Street Journal 01/16/2015
Monetary policy in India: The cycle turns
Economist 01/18/2015
Central Banks in India and Australia Take Steps to Lift Growth
New York Times 02/03/2015
Watching the Fed, and Remembering the Tequila Crisis
New York Times 09/18/2015
How New RBI Governor Patel’s Style Differs From Rajan’s
WSJ 10/05/2016
The Reserve Bank of India (RBI) interest rate policy in 2015-2016
06/03/2015
Grouped Articles
India’s Central Bank Cuts Key Interest Rate Again
Wall Street Journal 06/03/2015
How New RBI Governor Patel’s Style Differs From Rajan’s
WSJ 10/05/2016
Urjit Patel, new governor in 2016 of the Reserve Bank of India, India's central bank,
08/20/2016
Grouped Articles
India Names Urjit Patel to Be Next Central Bank Chief
The New York Times 08/20/2016
How New RBI Governor Patel’s Style Differs From Rajan’s
WSJ 10/05/2016
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