RBI Governor Urjit Patel MIA Since Demonetisation

Bloomberg has just published a report bringing up the absence of the Governor of the Reserve Bank of India, Dr Urjit Patel, from the limelight since demonetisation was announced two weeks ago, taking the country by storm.

It was Prime Minister Narendra Modi himself who came on national television to make the announcement when currency matters are generally best left to the RBI chief.

A man with stellar credentials, Dr Urjit Patel is reported to have served Reliance Industries as President of Business Development during 1997-2006.

That association does give rise to suspicions that the Ambanis of the Reliance group could have been alerted to the demonetisation well in advance. For some reason the media did not play up those suspicions.

That aside, why has he been silent when he should have been calling the shots?

G Joslin Vethakumar


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