Eminent economist Subir Gokarn passes away; was one of the youngest to serve as deputy governor of RBI
Gokarn served as the RBI deputy governor from 24 November 2009 to 31 December 2012.
Patel, 52, is presently one of the four deputy governors at the RBI.
No decision has yet been reached to appoint India's next central bank governor, Finance Minister Arun Jaitley said on Thursday, 18 days before the incumbent is due to stand down.
With Rajan’s exit is less than a month away, if the announcement is not made now the new governor will get lesser time to familiarise with the functioning of the governor
After current governor Raghuram Rajan’s surprise exit announcement last month, several names have been doing rounds, with speculations initially strong on NITI Aayog Vice Chairman, Arvind Panagariya.
Rajan said he wants to "completely utilise" the remaining 28 days in office and intends to introduce measures like peer to peer lending guidelines and measures to deepen the corporate bond market.
A new governor will be named after Prime Minister returns from his Africa tour on 11 July
The unprecedented controversy surrounding Rajan’s reappointment thanks to Swamy’s rapid fire, has made the job more difficult for the next RBI governor
While Urjit Patel was Rajan's inflation lieutenant, Arundhati Bhattacharya is the bad loan fighter at the SBI
Economist and public finance expert Urjit R Patel has replaced Subir Gokarn who left office on December 31 after a three-year term and a one-month extension.
The RBI governor in the last policy review had indicated that there could be softening of policy rate in the January policy.
Gokarn said, it's "puzzling" to understand why the recent episodes of high inflation, particularly driven by food prices, have not evoked the kind of sharp provocation that had rocked the nation many times in the past 50-60 years.<br /><br />
RBI Deputy Governor Subir Gokarn's plan to offer gold dematerialisation schemes to lure people away from physical gold holdings is not a great idea.
This spike in gold demand was in spite of the record price rally that the metal witnessed last fiscal.