ISAS Briefs

Dr Urjit Patel has become the fifth Governor of the Reserve Bank of India, in independent India, to have quit prior to the completion of his tenure. Although healthy tension between the fiscal authority (government) and the monetary authority (central bank) is nothing new, presently however, these differences seemed to have become unmanageable leading to the Governor’s resignation. This is certainly not a reassuring move, especially when the financial sector needs deft handling.