'Urjit Patel as RBI Governor is a vote for Continuity'

Hailing Urjit Patel's appointment as RBI Governor as "vote for continuity", India Inc and experts are unanimous that he is an excellent choice for the top job at the central bank when the economy is passing through a crucial phase. 

 

"We all are very happy. Being a colleague, he brings great continuity and familiarity. He has a clear understanding of what is going on," said RBI Deputy Governor S S Mundra.

 

Patel's colleague further said every new leader will bring his or her own thinking. "There could be some addition, (in) some processes little bit changes. It's normal in transition. 

 

We are looking for great continuity and that provides great comfort," Mundra said, adding that the appointment means that it is business as usual from the day one and "ensures smooth transition". 

 

Patel was today appointed the next Governor after Raghuram Rajan demits office on September 4. He was first appointed Deputy Governor for three years in January 2013 and was given extension this January. 

 

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