Currency Crisis

Demonetisation: Urjit Patel is an 'extra' in the PM Modi show until govt needs funds

Though Patel was seen alongside economic affairs secretary, Shaktikanta Das, at the Delhi presser, Modi's surprise announcement and the body language of technocrats at the Finance Ministry-RBI joint presser clearly signaled that the government has effectively hijacked the show

Urjit Patel, new RBI chief, is likely the comfort and continuity that markets need

Patel, like Rajan, is seen as likely to keep inflation closer to 4 percent in the medium term,