Sat, Oct 22, 2016 | updated 09:02 AM IST

There are high expectations from new RBI Governor: says Economic Affairs secretary

Updated: Aug 22, 2016 16:38 IST

New Delhi, Aug 22 (ANI): Economic Affairs secretary Shaktikanta das on Monday said that there are high expectations from upcoming Reserve Bank of India Governor Urjit Patel, once he takes charge on his office on September 4.

Das told ANI, he welcomed Patel's appointment as the 24th RBI governor, given his background in economics and monetary policy.

"I am sure he will rise to the occasion and keep in mind the requirements of the monetary policies and the inflation target which has been laid out by the RBI ACT," said Das.

Das also said that Patel would have to balance the requirement for growth which is in fact and minded as per the amendment to the Reserve bank of India act.

"The job of the RBI governor is not just monetary policy. He is also expected to regulate banks and non banking finance companies. He also has to ensure a smooth functioning of the entire financial sector, said DAS.

He also has to ensure the flow of the credit into various sectors of the economy, and in particular the agriculture and MSME (ministry of micro small and medium enterprises) sectors, My Best wishes to Dr Patel" .(ANI)