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Under Urjit Patel expect less chat and unified communication in RBI

Market players and economists who have met him expect Patel to instil same arm's length approach and unified communication to institution as a whole

Reuters  |  New Delhi/Mumbai 

When Urjit Patel became head of the Reserve Bank of India's monetary police department three years ago, the to and fro of bankers and traders meeting officials for cosy, broad-ranging discussions abruptly ended. Meetings go on to this day, but out went the kind of private chats that could unsettle markets, occurrences that became known as "open mouth operations", as opposed to open market operations the RBI carries out. As he takes over as RBI governor next month, market players and economists who have met him expect Patel to instil the same arm's length ...

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First Published: Thu, August 25 2016. 18:51 IST

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