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  3. Urjit Patel resigned as RBI Governor

Urjit Patel resigned as RBI Governor

By Namaste English -

Citing personal reasons, Urjit Patel has resigned as the Reserve Bank of India. His resignation came against the backdrop of increasing tensions between the Finance ministry and the Reserve Bank of India. Urjit Patel, who took over as the 24th Governor of the central bank on September 5, 2016, had the shortest tenure since the year 1992. He was hand-picked by the BJP-led government after his predecessor Raghuram Rajan was denied a second-term. In recent months, the government and the RBI have been at loggerheads over whether the RBI has been too hawkish in its stance towards lenders and the economy given a drop in the inflation rate and signs of slower growth. 

व्यक्तिगत कारणों का हवाला देते हुए उर्जित पटेल ने भारतीय रिज़र्व बैंक के रूप में इस्तीफा दे दिया है। उनका इस्तीफा वित्त मंत्रालय और भारतीय रिजर्व बैंक के बीच बढ़ते तनाव की पृष्ठभूमि के खिलाफ आया। 5 सितंबर, 2016 को केंद्रीय बैंक के 24वें गवर्नर के रूप में पदभार संभालने वाले उर्जित पटेल का वर्ष 1992 से सबसे कम कार्यकाल था। उन्हें भाजपा की अगुआई वाली सरकार ने उनके पूर्ववर्ती रघुराम राजन को दूसरा कार्यकाल के लिए मना करने के बाद चुना था। हाल के महीनों में, सरकार और आरबीआई इस बात पर असहमत  हैं की क्या भारतीय रिजर्व बैंक उधारदाताओं के प्रति अपने रुख में बहुत अधिक आक्रामक रहा है और अर्थव्यवस्था ने मुद्रास्फीति दर में गिरावट और धीमी वृद्धि के संकेत दिए हैं।

Key Learnings

  • Noun : backdrop //बैक्ड्राप// [पृष्ठभूमि]

    Definition: the general situation in which particular events happen
    Synonyms: bakground, setting, context
    Antonym: foreground, forefront

  • Adjective : hawkish //हॉकिश// [आक्रामक]

    Definition: favouring the use or display of force rather than diplomacy
    Synonyms: aggressive, attacking, bellicose, belligerent, contending, contentious, contrary
    Antonym: harmonizing, peaceful

  • Noun : predecessor //प्रेडिसेसर// [पूर्ववर्ती]

    Definition: a person who held a job or office before the current holder
    Synonyms: ancestor, forebear, antecedent, forerunner, former, prior
    Antonym: derivative, descendant, successor

  • Noun : tenure //टेन्यर// [कार्यकाल]

    Definition: the holding of an office
    Synonyms: administration, regime, reign, term
    Antonym:

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