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BANKING & FINANCE
RBI DY GOVERNOR PATEL GETS SECOND TERM
January 9, 2016
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1.Urjit Patel, Deputy Governor of Reserve Bank of India (RBI) in-charge of the monetary policy department, has been re-appointed for a term of three years.

2.Mr. Patel, 52, who will complete his three-year term on January 10, could become the longest serving deputy governor in recent times if he serves the full three-year term. Most of recent deputy governors served a maximum of five years.

3.According to the agreement, the RBI will target 4 per cent inflation by the end of financial year 2016-17 and for subsequent years, with a band of +/- 2 per cent.

4.RBI has four Deputy Governors, two are from outside, a commercial banker and an economist while two others are promoted from within its ranks. The other three Deputy Governors of RBI are: H.R. Khan, S.S. Mundra and R. Gandhi.