Congress reacts cautiously over new RBI governor's appointment

New Delhi: Congress on Monday reacted cautiously over the appointment of Urjit Patel as the next RBI Governor even as it took a dig at the Modi government, saying incumbent Raghuram Rajan was "literally hounded out".

Urjit Patel. Reuters

"The RBI governor is taking over in rather peculiar circumstances and that is the biggest under-statement which I can make," party spokesman Manish Tewari told reporters.

"He is stepping into an office where his predecessor was literally hounded out. So, we will have to wait and see," he said.

At the same time, Tewari said RBI as an independent body has had a very glorious and illustrious past, many distinguished, men and women have led and contributed to this institution and so, "therefore, let us wait, the jury is really out on this one."