Urjit Patel Quotes

Urjit Patel
Urjit Patel
Indian Economist
Banks Financial Government Important Inflation Think
A well-functioning transmission should at some point go from the overnight right up to 40 years, and that is the ultimate objective in having monetary transmission that affects the whole gamut of borrowing tenure. Urjit Patel
Some Objective Borrowing Having Point Tenure Overnight Go Ultimate Years Affects Up Should Transmission Whole Monetary Right
People have asked why the new currency introduced was different in size and thickness from the old. This is because the new currency has been designed to make it hard to counterfeit. When you are going to make a change of this magnitude, you need to get the best standards in place. Urjit Patel
Best You Change People Old Has-Been Introduced Magnitude Counterfeit New Make Because Been Get Currency Going Different Size Place Asked Hard Standards Why Designed Need
Yes, 4% is the government-mandated target to the MPC. The plus/minus 2 percentage-point upper and lower bands are the tolerance levels specified by the government. If we breach those for three consecutive quarters, we need to inform the government of why that happened and what we propose to do to bring inflation within the two bands. Urjit Patel
Government Inflation Three Tolerance Those Propose Within Quarters Yes Target Bands Upper Breach Happened Inform Lower Why Bring Levels Consecutive Two Need
Monetary policy transmission encompasses the whole continuum of interest rates; of course, the central bank only determines the overnight policy rate. Urjit Patel
Rate Determines Rates Only Policy Course Overnight Continuum Bank Central Interest Central Bank Interest Rates Transmission Whole Monetary Monetary Policy
Remonetisation has happened at a fast pace, and that was part of the plan that, subsequent to the withdrawal of the specified bank notes, our production plans and supply processes would ensure that the remonetisation happened as quickly as possible. Urjit Patel
Our Ensure Possible Would Part Supply Withdrawal Quickly Subsequent Bank Happened Pace Processes Notes Plan Production Plans Fast
We should redefine the metric for effective lending, viz., prioritise loans to enterprises, which will generate more employment. Urjit Patel
Will Enterprises Viz More Generate Employment Redefine Metric Effective Which Lending Should Loans
If very fundamental reforms take place, especially when it comes to factors of production like land, labour, then a higher growth rate is possible. Urjit Patel
Possible Rate Higher Factors Take Like Very Labour Reforms Place Land Then Production Fundamental Growth Growth Rate
Divestment measures would improve overall banking sector health. Urjit Patel
Health Sector Would Overall Improve Banking Measures
Enhanced transparency has helped to reinforce the stability of India's financial system. Urjit Patel
Financial System Financial System India Stability Transparency Helped Enhanced Reinforce
It is easy and quick to fritter away gains regarding macroeconomic stability. Urjit Patel
Easy Quick Stability Regarding Gains Away
Large credit guarantees also impede optimal allocation of financial resources and increase moral hazard. Urjit Patel
Financial Increase Resources Financial Resources Moral Allocation Hazard Also Optimal Large Credit Guarantees
The RBI is interacting with the banks every day. Urjit Patel
Day Every Day Every Interacting Banks
I think it is important that we should be on the side of keeping borders open with respect to trade and movement of factors of production. Urjit Patel
Respect Important Think Side I Think Borders Factors Open Trade Movement Should Production Keeping
There are some things that are under our control, and that is to ensure that we ourselves follow sound macroeconomic stability rules. Urjit Patel
Control Our Rules Ensure Ourselves Follow Some Some Things Sound Stability Things
There is little room for complacency, and it is important to guard against sporadic volatility in financial markets. Urjit Patel
Financial Important Guard Complacency Markets Financial Markets Volatility Against Little Room
Government should eschew suasion and directives to banks on interest rates that run counter to monetary policy actions. Urjit Patel
Government Run Rates Directive Counter Policy Banks Interest Interest Rates Should Actions Monetary Monetary Policy
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
Long Changes Medium Temporary Structural Sees Long-Term Term Come Far Growth Disruption
Growth is always there in the MPC's scheme of things; we don't lose sight of that, but not at the cost of inflation. Urjit Patel
Inflation Lose Sight Cost Scheme Always Growth Things
From the RBI side, the fake Indian currency note is an important issue that needed to be addressed. The other collateral benefits from this, in terms of greater accountability, better public finance, more transparency, are, by definition, areas that take time to fully play out. Urjit Patel
Finance Time Benefits Better Important Accountability Other Side Definition Collateral Out Indian More Area Take Terms Important Issue Greater Fake Issue Currency Public Note Transparency Fully Play Needed
What is important is that in a capital-scarce country like India, the real interest rate needs to be positive enough to encourage healthy growth of financial savings; we get into macro difficulties when real rates on financial savings become negative for a length of time. Urjit Patel
Positive Time Needs Financial Negative Country Important Become Healthy Difficulties Enough Savings India Rate Rates Like Real Encourage Get Interest Length Growth
The monetary policy committee could either keep rates constant, increase them, or bring them down. There are three options possible compared to when it is accommodative. Urjit Patel
Three Down Increase Possible Constant Rates Could Policy Options Committee Either Them Compared Keep Monetary Monetary Policy Bring
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