RBI Governor Urjit Patel News

Here are the landmark decisions of Urjit Patel's during his year-long tenure as RBI Governor.

Reserve Bank Governor Urjit Patel on Saturday called for recapitalisation of state-run banks to help them resolve the NPAs issue in a time-bond manner as bad loans at 9.6 percent of the system is not acceptable.

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RBI Deputy governor Viral B Acharya chipped in saying that addressing the twin balance sheets problem remains the RBI's top priority at the moment as this will help reinvigorate private investments.

India's largest state by population Uttar Pradesh, along with Punjab, Maharashtra, and Karnataka are among the states that have announced loan waivers for farmers.

The RBI's Monetary Policy Committee (MPC) on Wednesday decided to reduce the repo rate -- at which it lends to banks -- by 0.25 percent to 6 percent.

The government has taken note of the statement of the Monetary Policy Committee (MPC) and its assessment of the inflation and growth outlook, he added.

The members appointed by the government would "receive a remuneration of Rs 1,50,000 for devoting time and work for each meeting of the committee. Which they attend and other expenses relating to air travel, local transportation and accommodation as may be decided by the central board from time to time," as per the regulations.

As per the tender document, the currency notes of all denominations received at regional office of the RBI would have to be processed at a minimum speed of 30 notes per second.

"The figures for Friday, June 30, 2017 will be published as part of RBI's Balance Sheet in August 2017 in the Annual Report of the bank," RBI said in its latest statistical supplement.

Ahead of the next monetary policy review, Reserve Bank Governor Urjit Patel on Friday called on Finance Minister Arun Jaitley and believed to have discussed various macro-economic issues.

Besides RBI governor, Financial Services Secretary, other senior officials of finance ministry and RBI were present in the meeting.

According to the ‘viral’ social media gossip, Urjit Patel is married to Nita Ambani’s sister --but is it true?

The RBI may consider chopping interest rate in the coming three months as inflation may slip below 5 per cent during September-December period, before inching up in the following quarter, says a report.