Who is the present Governor of Reserve Bank of India?
VerifiedAnswer: Urjit Patel
Explanation:
The Reserve Bank of India (RBI) is the central banking institution of India, responsible for regulating the country's monetary policy and banking system. The Governor of RBI holds one of the most important positions in India's financial sector, overseeing crucial decisions that impact the entire economy.
Urjit Patel served as the 24th Governor of the Reserve Bank of India from September 4, 2016, to December 10, 2018. He was appointed during a critical period when India was implementing significant economic reforms, including the demonetization policy and the introduction of the Goods and Services Tax (GST).
Before becoming the Governor, Urjit Patel had extensive experience in monetary policy and was instrumental in designing India's inflation targeting framework. He served as the Deputy Governor of RBI from January 2013 to September 2016, where he gained valuable insights into the central bank's operations and policy-making processes.
During his tenure as Governor, Patel focused on maintaining price stability and strengthening the banking sector. He played a key role in implementing the Insolvency and Bankruptcy Code and worked towards resolving the non-performing assets (NPA) crisis that had affected several public sector banks. His approach emphasized data-driven policy decisions and maintaining the independence of the central bank in monetary policy matters.
However, it's important to note that Urjit Patel resigned from his position in December 2018, citing personal reasons. His resignation came at a time when there were reported differences between the RBI and the government on various policy matters. Following his resignation, Shaktikanta Das was appointed as the new Governor of RBI and continues to serve in that capacity as of current times.
