'Pragmatic' Urjit Patel brings shift in monetary, banking policy management – Business Standard


The RBI changed its stance on the neutral real rate and the timeframe for achieving the 4% inflation target, creating room for monetary easing




Urjit Patel moved to the corner office at RBI in early September on the plank of continuity in policy regime. Yet, the first policy review under him has shown that the Central bank governor is looking at a clear shift in managing monetary and banking affairs.


In its report on the policy statement, Citigroup suggests that there has been a major rethink on inflation, real interest rates and the growth trajectory. In a research note, Citi notes four key departures in the RBI statement this time around.


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