LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
»
1-min read

Govt Likely to Make Announcement on Next RBI Governor Soon, Says Finance Secretary

RBI has been rendered headless following Patel's unexpected resignation, with immediate effect, Monday.

PTI

Updated:December 11, 2018, 4:41 PM IST
facebookTwittergoogleskypewhatsapp
Govt Likely to Make Announcement on Next RBI Governor Soon, Says Finance Secretary
File photo of RBI headquarters in Mumbai. (Reuters)
Loading...
New Delhi: The government is likely to make an announcement regarding Urjit Patel's successor as Reserve Bank of India's Governor later in the day, Finance Secretary A N Jha said.

RBI has been rendered headless following Patel's unexpected resignation, with immediate effect, Monday.

Patel, who is the first governor since 1990 to step down before his term ends, in a brief statement, cited "personal reasons" for the decision.

The decision to quit comes four days ahead of a crucial meeting of the board of the central bank that could have discussed issues of simmering differences with the government.

It is expected that the board meeting may be deferred as there is no regular governor.

Speaking to reporters, Jha said, some communication from the government on RBI is expected.

Patel's three-year term was to end in September 2019, and he was eligible for a second term like most of his successors, barring a few like his outspoken predecessor Raghuram Rajan.

A Kenyan national who acquired an Indian citizenship prior to being appointed Deputy Governor of RBI in January 2013, Oxford-trained Patel was initially seen as toeing government line after he backed the November 2016 shock decision to overnight junk 86 per cent of the currency in circulation.

Catch the biggest newsmakers and the biggest newsbreaks on CNN-News18, the only news destination. Keep watching CNN-News18 at just 50 paise per month. Contact your cable/DTH operator now!

*Rental/capacity fee of Rs. 130/- as charged by cable/DTH operator may apply. **GST extra.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Sun Pharma 390.75 -8.39
Reliance 1,184.35 4.40
Jet Airways 281.20 -1.44
Yes Bank 198.60 -1.44
HUL 1,744.10 -0.42
Company Price Change %Gain
Sun Pharma 390.75 -8.52
Reliance 1,182.95 4.34
ICICI Bank 371.90 -0.39
Jet Airways 281.35 -1.21
Yes Bank 198.25 -1.59
Top Gainers
Company Price Change %Gain
Reliance 1,184.35 4.40
Wipro 346.15 3.21
Kotak Mahindra 1,240.20 1.66
Hindalco 208.80 1.36
Adani Ports 399.30 1.22
Company Price Change %Gain
Reliance 1,182.95 4.34
Kotak Mahindra 1,237.35 1.41
HCL Tech 964.50 1.02
Asian Paints 1,401.30 0.85
ONGC 146.25 0.79
Top Losers
Company Price Change %Gain
Sun Pharma 390.75 -8.39
Bharti Airtel 311.15 -6.29
GAIL 322.15 -3.08
Larsen 1,317.90 -2.09
HPCL 239.50 -1.92
Company Price Change %Gain
Sun Pharma 390.75 -8.52
Bharti Airtel 310.95 -6.42
Larsen 1,318.25 -2.07
Axis Bank 664.30 -1.77
Yes Bank 198.25 -1.59

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results