Economics
Patel to Lead India Central Bank; Seen Keeping Rajan Rate Stance
- Modi’s pick to lead RBI begins three-year term on Sept. 4
- Patel one of the architects for the banks’s rate-setting panel
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Prime Minister Narendra Modi promoted a deputy governor to lead India’s central bank, ensuring that sweeping reforms initiated under Raghuram Rajan would continue.
Urjit Patel, who oversees the monetary policy department at the Reserve Bank of India under Rajan, has been appointed for three years from Sept. 4, the government said in a statement on Saturday.