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.

What factors have contributed to the current economic environment in India that the new governor must navigate?

In what ways does the new governor's background prepare him for his role?