Who Is New Reserve Bank of India Chief Urjit Patel?

Urjit Patel is set to become the new Governor of the Reserve Bank of India, succeeding Raghuram Rajan. Patel is perceived as an inflation hawk and is expected to maintain continuity in economic policies. The market has reacted positively to his appointment, but he faces challenges such as rising consumer prices and limited scope for interest rate cuts. Patel's background includes prestigious institutions like the London School of Economics and Oxford. His tenure will focus on balancing growth and inflation, with a stable rupee and different macroeconomic conditions compared to 2013.

Who is set to replace Raghuram Rajan as the head of the Reserve Bank of India?

• Nirmala Sitharaman

• Arun Jaitley

• Urjit Patel

• Shaktikanta Das

What is one of the main economic challenges that Urjit Patel will face as the new governor?

• Rising consumer prices

• Decreasing foreign investments

• Increasing trade deficits

• High unemployment rates

What new mechanism will influence interest rate decisions in India?

• The World Bank

• A monetary policy panel

• The Finance Ministry

• The Prime Minister's Office

How does the economic context in 2016 differ from that in 2013 for India?

• Higher current account deficit

• Greater currency pressure

• Lower foreign exchange reserves

• More stable macroeconomic variables

What is a potential fiscal challenge for Urjit Patel as the new governor?

• Increasing tax rates

• Allowing increased government spending

• Reducing foreign debt

• Managing a high budget surplus