DiD Rajan tRy to block Patel?
Did Raghuram Rajan try to block the elevation of Urjit Patel as RBI Governor? Rajan, apparently, kept on insisting on the indispensability of Urjit Patel as RBI’s Deputy Governor in charge of monetary policy. Rajan felt it would be difficult to find a replacement in that particular post. It seems that the Prime Minister concurred on the indispensability of Patel and appointed him as the Governor. Patel is the first Deputy Governor in independent India to have been made Governor of RBI.