Former RBI Governor who helmed the demonetisation of 2018,November will soon become the Chairman of National Institute of Public Finance and Policy(NIPFP).
“National Institute of Public Finance and Policy is privileged to have Dr Urjit Patel, former Reserve Bank Governor, as its Chairperson for a four-year term commencing June 22, 2020,” the economic think tank said in a statement.
Urjit Patel will take over the charge from Chairman Vijay Kelkar, who is in charge of the NIPFP from November 1 ,2014.Patel resigned abruptly as the RBI governor amid heightened differences with the central government which demanded access to the Central banks surplus reserves, which acts as a buffer deposit for the nations financial security- amassed over a period since independence.
Viral Acharya,Depty Governor was fired from the post just before Urjit’s resignation. “Governments that do not respect central bank independence will sooner or later incur the wrath of the financial markets, ignite economic fire, and come to rue the day they undermined an important regulatory institution,” Acharya was quoted as saying before leaving the office.
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