ADVERTISEMENT

Every Institution Needs to Have Autonomy & Integrity: New RBI Guv

RBI Governor Urjit Patel steps down from his position 

Updated
Business
11 min read
Then-Economic Affairs Secretary Shaktikanta Das and RBI Governor Urjit Patel display the new Rs 500 note, in New Delhi, on November 8, 2016. (Photograph: PTI) 
i

Addressing the media on Wednesday, 12 December, newly appointed RBI Governor Shaktikanta Das said, “Every institution needs to have integrity and autonomy but also needs to be accountable.”

“I will try and uphold professionalism, core values, credibility and autonomy of this institution. It’s an honour and great opportunity to serve RBI. I will try my best to work with everyone and work in the interest of Indian economy,” he added.

He also said that he will convene a meeting of MDs and CEOs of public sector banks on Thursday in Mumbai.

Snapshot
  • RBI Governor Urjit Patel stepped down with immediate effect
  • Patel cited “personal reasons” for his resignation
  • He is the first RBI governor since 1990 to have quit before completion of term
4:23 PM , 12 Dec

Every Institution Needs to Have Autonomy & Integrity, Says Shaktikanta Das

The newly appointed RBI governor Shaktikanta Das addressed the media on Wednesday, 12 December.

“I will try and uphold professionalism, core values, credibility and autonomy of this institution. It’s an honour and great opportunity to serve RBI. I will try my best to work with everyone and work in the interest of Indian economy, “ he said.

ADVERTISEMENT
11:58 AM , 12 Dec

Shaktikanta Das Assumes Charge as New RBI Governor

The newly appointed RBI Governor Shaktikanta assumed office today, after former governor Urjit Patel resigned in a shock move on 10 December.

Das confirmed the news on his twitter, thanking everyone for the wishes and blessings.

11:46 AM , 12 Dec

Sensex Jumps Over 300 Points After Appointment of New RBI Guv

Rising for the second straight session, the equity benchmark BSE Sensex on Wednesday advanced over 300 points in early trade after former bureaucrat Shaktikanta Das was named as the new governor of the RBI.

The 30-share index was trading higher by 324.94 points, or 0.92 per cent, at 35,474.95. All the sectoral indices, led by banking, auto, and consumer durables stocks were trading in the positive zone.

The NSE Nifty too rose by 98.50 points, or 0.93 percent, to 10,647.65.

Top gainers on the BSE include Yes Bank HeroMotocorp, Bharati Airtel, M&M, Tata Steel, Kotak Bank, Tata Motors and Axis Bank.

Brokers said investor sentiment got a boost after the appointment of the new RBI Governor on hopes that it will now address the liquidity issue and could help public sector banks in their recapitalisation programme, besides helping in stabilising short-term investor sentiment.

The Sensex had on Tuesday rose 190.29 points to end at 35,150.01, after falling over 500 points intra-day. And the broader NSE Nifty rose 60.70 points to end at 10,549.15.

Asian market rallied in the morning trade after the US President Donald Trump appeared hopeful of a trade deal with China. Japan's Nikkei was trading higher by 1.96 per cent and Shanghai Composite Index 0.20 percent.

ADVERTISEMENT
10:59 AM , 12 Dec

Shaktikanta Das as RBI Governor is a Wrong Choice: Subramanian Swamy

BJP leader Subramanian Swamy, on Wednesday gave his opinion on the appointment of the new RBI governor Shaktikanta Das, saying that the appointment is wrong. He said that the new RBI governor has worked closely on corrupt activities with former finance minister P Chidambaram and has also tried to save Chidambaram in court cases.

Shaktikanta Das being appointed as RBI Governor is wrong, he has worked closely in corrupt activities with P Chidambaram and even tried to save him in court cases. I don’t know why this was done, I have written a letter to PM against this decision.
Subramanain Swamy, BJP MP

Published: 10 Dec 2018, 5:21 PM IST
ADVERTISEMENT
Stay Updated

Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.

Join over 120,000 subscribers!
ADVERTISEMENT