RBI says deputy governor Patel to head monetary policy dept
MUMBAI (Reuters) - The Reserve Bank of India said on Monday that newly appointed Deputy Governor Urjit Patel will look after the bank's monetary policy department and financial markets among other functions.
Earlier in the day, the central bank said Patel has taken over as a deputy governor in a three-year tenure.
Patel will also look after the departments of economic policy and research, communication and statistics and information management among others, the RBI said in a statement.
Patel replaced Subir Gokarn, who headed the monetary policy department and whose term as a deputy governor ended on December 31. (Reporting by Shamik Paul; Editing by John Stonestreet)
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This business of notes is livelihood for hundreds in Old Delhi, with vendors charging a fee of up to 20 percent to replace damaged banknotes. A mildly damaged 500 rupee note, for instance, can be exchanged for 480 rupees, while a bundle of crisp, new 10 rupee notes valued at 1,000 rupees is priced at 1,050 rupees. Full Article