RBI's Board Meet On December 14; No Changes On Urjit's Abrupt Exit

On Tuesday, Economic Affairs Secretary Subhash Chandra Garg affirmed that the previously decided RBI board meet stands and there is no change as of now after Urjit Patel resigned from his position as the RBI governor abruptly after market hours on Monday.

The minister cleared the air around the board meet as there was confusion over the matter.

"The Dec. 14 meeting stands as of now. If RBI decides otherwise, we will get to know," Garg told.

But to ease investors fear and nervousness, the government without delay, swiftly appointed former finance ministry official Shashikanta Das as the RBI's 25th governor. Das also played a key role in demonetisation and GST.

The board meet after the appointment of Das will be crucial and stakeholders will eye on whether or not the new governor will be able to solve the ongoing rift between the centre and the RBI over the latter's role. Further there will be discussion over other matters including FPI investment, easy listing norms for start-ups, lending norms for MSMEs beside governance issues and reforms at the RBI.

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