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Adjacent hobbies => Collecting banknotes => Indian subcontinent => Topic started by: Bimat on June 18, 2016, 03:38:47 PM

Title: RBI to Get New Governor in September 2016
Post by: Bimat on June 18, 2016, 03:38:47 PM
https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=37259#AN

Dr. Rajan has announced that he won't be seeking a second term as a Governor of RBI and would return to Chicago in September when his term ends.

A new governor means new banknotes with a new signature and may be some other developments...

Aditya
Title: Re: RBI to Get New Governor in September 2016
Post by: dheer on June 18, 2016, 04:05:10 PM
Disappointing
Title: RBI to Get New Governor in September 2016
Post by: Bimat on June 18, 2016, 04:12:59 PM
Disappointing

Yes, disappointing! I don't think we have a better candidate than Dr. Rajan to head RBI in such critical times...perhaps he was annoyed by repeated attacks by some in the government and finance minister was also unhappy with him for not being positive towards cutting interest rates. However it's said that PM was in favor of giving him second term. Let's see if Modi can convince him to retract his decision!

Aditya
Title: Re: RBI to Get New Governor in September 2016
Post by: dheer on June 18, 2016, 05:13:05 PM
Among the best...
Too many personal attacks...
Let's wait and watch... hopefully we will get someone equally good.
Title: RBI to Get New Governor in September 2016
Post by: Bimat on June 20, 2016, 08:09:27 AM
Front runners in the race to become next governor (all speculations!): Arundhati Bhattacharya (current SBI chief), Urjit Patel (current  deputy governor of RBI), Vijay Kelkar, Rakesh Mohan, Ashok Lahiri, Subir Gokarna, Ashok Chawla and Kaushik Basu.

I wouldn't be surprised if Baba Ramdev or Anupam Kher make it at the last moment. :D

Aditya
Title: Re: RBI to Get New Governor in September 2016
Post by: dheer on June 20, 2016, 10:47:30 AM
Front runners in the race to become next governor (all speculations!): Arundhati Bhattacharya (current SBI chief), Urjit Patel (current  deputy governor of RBI), Vijay Kelkar, Rakesh Mohan, Ashok Lahiri, Subir Gokarna, Ashok Chawla and Kaushik Basu.

I wouldn't be surprised if Baba Ramdev or Anupam Kher throw some surprises at the last moment. :D

Aditya

Having Arundhati may fulfil the long term goal of seeing diversity in this post. Of course I don't mean she is less capable, she is extremely capable and has lead SBI amazingly.
Title: RBI to Get New Governor in September 2016
Post by: Bimat on June 20, 2016, 11:01:43 AM
Having Arundhati may fulfil the long term goal of seeing diversity in this post. Of course I don't mean she is less capable, she is extremely capable and has lead SBI amazingly.

Yes! She's also retiring in September so she can be a choice of government. But she won't be able to get an extension in 2019 as their is a age limit of 63 according to the rules?

Aditya
Title: RBI to Get New Governor in September 2016
Post by: Bimat on June 23, 2016, 06:20:04 AM
According to some journalists (read as their 'sources' ;)), Arundhati Bhattacharya is set to become 24th Governor of RBI. She will be the first woman governor of RBI if it happens so.

Aditya
Title: Re: RBI to Get New Governor in September 2016
Post by: dheer on June 23, 2016, 08:51:59 AM
According to some journalists (read as their 'sources' ;)), Arundhati Bhattacharya is set to become 24th Governor of RBI. She will be the first woman governor of RBI if it happens so.

Aditya

So India ahead of US, we had female Prime Minister, President, Chairman of largest Bank SBI, and now of RBI, also fighter pilot ... way to go  :)
Title: RBI to Get New Governor in September 2016
Post by: Bimat on July 18, 2016, 06:25:28 AM
Moneycontrol made a funny mistake yesterday. :D

Aditya
Title: Re: RBI to Get New Governor in September 2016
Post by: dheer on July 18, 2016, 12:25:23 PM
Interesting  :)
Title: RBI to Get New Governor in September 2016
Post by: Bimat on July 18, 2016, 12:42:54 PM
You perhaps didn't notice "Don't Publish" part.... ;)

Aditya
Title: Re: RBI to Get New Governor in September 2016
Post by: Figleaf on July 18, 2016, 03:02:38 PM
When I was a civil servant, we would use those words to make sure it would leak :) Of course, we counted on the press hounds deleting the instructions...

Peter
Title: Re: RBI to Get New Governor in September 2016
Post by: dheer on July 18, 2016, 06:41:31 PM
You perhaps didn't notice "Don't Publish" part.... ;)

Aditya

Yep I did notice it ... what a way to keep an article ready and publish it once the news is confirmed. But this is the first time in web world where we have "Don't Publish" attached to it  ;D >:D
Title: RBI to Get New Governor in September 2016
Post by: Bimat on August 20, 2016, 03:00:39 PM
Urjit Patel (https://en.wikipedia.org/wiki/Urjit_Patel) has just been appointed as the next RBI governor.

Moneycontrol was right afterall. ;D

Aditya
Title: RBI to Get New Governor in September 2016
Post by: Bimat on August 20, 2016, 03:22:47 PM
Debates have started with appointment of Urjit Patel as RBI Governor. He's president of Reliance Industries Limited and he was also non executive director of Gujarat State Petroleum Corporation, which is under scanner after CAG unearthed thousands of crores of scam (http://thewire.in/29132/what-went-wrong-with-gujarats-kg-deen-dayal-gas-reserve-discovery/) in it.

It's rather true that there's a conflict of interest here. Can important appointments like this be challenged in the courts? (Just curious to know)

Aditya
Title: Re: RBI to Get New Governor in September 2016
Post by: Figleaf on August 20, 2016, 04:48:24 PM
The most important position is left out in that list: deputy governor, Reserve Bank of India. This position and Executive Director, Infrastructure Development Finance Company amount to his financial experience. The CV looks like that of a political darling, rather than an independent economic manager, but maybe he made a name for himself at RBI.

He has given up his position in Reliance in 2015, but he should be careful even with his social contacts to avoid any suspicion of conflict of interest. He should leave Boston Consulting right away. The other positions look like political appointments. They come and go easily.

If the inquest is into events that took place during his tenure, he's a risk. Otherwise, he cannot be held accountable. Keep in mind that a non-exec doesn't get to see everything and that it's a part-time job. However, it does come with responsibilities.

Peter
Title: RBI to Get New Governor in September 2016
Post by: Bimat on August 21, 2016, 09:02:55 AM
I fail to understand how and why was he appointed as deputy governor in 2013 by UPA (the then ruling party), as he was still president of Reliance Industries? This is ethically wrong!

One of the reason why Dr. Rajan was infamous among corporate world was that he initiated strict actions against loan defaulters. No other RBI governor has dared to do so in years. A risk I find with Patel's appointments in his past: Reliance and GSPC. He can still get away from Reliance, but the scam in GSPC will definitely haunt him!

Aditya