Urjit Patel

Monetary policy transmission encompasses the whole continuum of interest rates; of course, the central bank only determines the overnight policy rate.

— Urjit Patel

One of the things that the public sector banks need to do is to raise private capital from the market and not…

— Urjit Patel

As many have pointed out, it is not clear that we need so many public sector banks. The system could be better…

— Urjit Patel

Valid criticism is something that we are open for, and we take it in the spirit in which it is given and…

— Urjit Patel

I think India's policy that the openness of trade should be carried through a multilateral process is the right one.

— Urjit Patel

The best way that a central bank can support growth on a durable basis is to ensure inflation is low, stable -…

— Urjit Patel

It is important to recognise near- and medium-term risks to the inflation outlook.

— Urjit Patel

There is little room for complacency, and it is important to guard against sporadic volatility in financial markets.

— Urjit Patel

Large credit guarantees also impede optimal allocation of financial resources and increase moral hazard.

— Urjit Patel

Very few countries grow at high rate if inflation is high and volatile. I think, in a way, we are doing our…

— Urjit Patel

I think that it is important that one grows a thick skin fast in this business, and I think we have done…

— Urjit Patel

Remonetisation has happened at a fast pace, and that was part of the plan that, subsequent to the withdrawal of the specified…

— Urjit Patel

There are tens of thousands of bank branches and 4,000 currency chests. We need to be careful and try that this is…

— Urjit Patel

Enhanced transparency has helped to reinforce the stability of India's financial system.

— Urjit Patel

The materialisation of reforms in the form of rollout of the GST, the institution of Indian Insolvency and Bankruptcy Code, and the…

— Urjit Patel

This is a once in a lifetime event. It is very rare to remove 86% of the currency in circulation in one…

— Urjit Patel

We have been mandated by the government, backed by legislation, that we have to have an inflation target of about 4%.

— Urjit Patel

I think that is a very important milestone in our economic history that the monetary policy is now determined through a committee…

— Urjit Patel

The RBI is interacting with the banks every day.

— Urjit Patel

The two important variables for the policy formulation are projected inflation and the output gap. There is no clear hidebound mathematics that…

— Urjit Patel

From the RBI side, the fake Indian currency note is an important issue that needed to be addressed. The other collateral benefits…

— Urjit Patel

I think it is important that we should be on the side of keeping borders open with respect to trade and movement…

— Urjit Patel

Divestment measures would improve overall banking sector health.

— Urjit Patel

If one sees far, structural changes that come with temporary disruptions can be growth- and efficiency-augmenting in the medium to long term.

— Urjit Patel

If very fundamental reforms take place, especially when it comes to factors of production like land, labour, then a higher growth rate…

— Urjit Patel