Saturday, November 18, 2017
Daily PT Capsule UPSC Civil Services

Daily PT Capsule May 5

Here is the digest of important newspaper articles and quiz! SC suggests changes to draft MoP After the government drew a draft Memorandum of Procedure(MoP) for...
Understanding Debt Recovery & Asset Reconstruction Act Amendments in times of increasing NPAs

Understanding Debt Recovery & Asset Reconstruction Act Amendments in times of increasing NPAs

This post aims to make you adept across all details of Debt Recovery & Asset Reconstruction Act Amendments in times of increasing NPAs. Questions...
Daily PT Capsule UPSC Civil Services

Daily PT Capsule Jun 16

Here is the digest of important newspaper articles and quiz! New Aviation Policy announced The government has unveiled the New Aviation Policy. The policy aims to...
Daily PT Capsule UPSC Civil Services

Daily PT Capsule May 31

Here is the digest of important newspaper articles and quiz! Smartphone rules for officials The government has come up with a smartphone policy for officials dealing...
Shadow Banking & Financial Inclusion

Shadow Banking & Financial Inclusion: Scenario in India and China

Shadow banking refers to a non-banking system that supports the banking system without it being a regulated and full-fledged approved system. This parallel system...
THE NEW GOVERNOR OF RBI- DR. URJIT PATEL As evident in the news buzz, there has been a lot of ambiguity regarding the successor of Raghuram Rajan, the 23rd governor of RBI. State Bank of India chairperson Arundhati Bhattacharya and Urjit Patel, deputy governor, RBI are among a few contenders for the post of governor at the Reserve Bank of India. After a deep analysis and discussion, Dr. Urjit R Patel has been appointed as the 24th RBI Governor for three years with effect from September 04, 2016. About Dr. Urjit Patel • Urjit R. Patel was born on October 28, 1963. • He is an Indian economist, banker and a consultant. • As the deputy governor of RBI, he played an important role in monetary policy, statistics and information management, economic policy research, and Right to Information. Education of Dr. Urjit Patel • Patel earned his Bachelor’s degree in Economics from the London School of Economics, M. Phil. degree from the Oxford University in 1986. • He is a doctorate in Economics from the Yale University. Career progression of Dr. Urjit Patel • Dr. Urjit Patel joined the International Monetary Fund (IMF) in 1990 and worked till 1995. Thereafter, he was posted on deputation to the Reserve Bank of India. • He has been a non-resident Senior Fellow of The Brookings Institution. • In 1998, Patel was appointed as the consultant to the Government of India in the Ministry of Finance, Department of Economic Affairs. • From 2000 to 2004, Dr. Patel worked with the central and state government including Competition Commission, direct taxes, market studies, anti-trust laws, Prime Minister’s Task Force on Infrastructure and sectors like telecom, aviation, power and pensions. • He also worked with many renowned private sector organizations, namely, Reliance Industries, Board Member of the Gujarat State Petroleum Corp. and Infrastructure Development Finance Company. • In 2013, Urjit Patel was appointed as the Deputy Governor of RBI. Why Dr. Patel as the new RBI governor? Urjit Patel is an expert in macro-economics and has both domestic and international experience. Moreover, he has also worked in the IDFC for a couple of years. Dr. Urjit Patel is the author of the report on which the present monetary policy framework is based. Dr. Patel is open to new economic ideas pertaining to the global financial crisis. So, there should be a person to ensure such ideology and understand the current challenges. Major challenges before Dr. Patel as the RBI governor • Introduction of Monetary Policy Committee • Tackling Rising Inflation • Bad loan mess • FCNR deposit Redemptions • Managing Political and Industry Expectations

Catch 22: Inflation Targeting or Interest Rate Cut

The buzz in the corporate world and amongst policy wonks is that Raghuram Rajan opted for a graceful exit. Highly probable reasons for Raghuram...
Parasaran: Attorney General and a lawyer of ethics for the Government

Parasaran: Attorney General & a lawyer of ethics for the Government

Depending on the métier under consideration, it is only the biggest of names that make it to the papers and those are the ones...
Top 10 English grammar mistakes

Top 10 English grammar mistakes

In the 21st century, English language has become an indispensable part of our life. All communications viz. newspapers, magazines, internet posts and even text...
Daily PT Capsule UPSC Civil Services

Daily PT Capsule Jun 8

Here is the digest of important newspaper articles and quiz! India US discuss steps to implement Paris deal In a meeting between Indian PM and US...
Weekly Issue for Mains UPSC Civil Services

Mains Issue #9: Anti-Defection Law and Toppling of State Governments

The recent political crisis in Arunachal Pradesh and Uttarakhand has been all over the news with the display of political opportunism at its best....