Urjit Patel takes charge from Raghuram Rajan as RBI boss

September 5, 2016 6:43 pm
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Urjit Patel has assumed charge as the 24th Governor of Reserve Bank, succeeding Raghuram Rajan whose three-year controversy-ridden tenure ended on Sunday. Patel has assumed charge effective September 4, 2016.

With Rajan’s departure, the RBI is likely to engage with the government to introduce interest-free banking to tackle financial exclusion for religious reasons, potentially opening Islamic finance to the largest Muslim minority population in the world. The RBI had made the proposal in its annual report last week.

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