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Financial Crisis Likely Under Trump, says RBI Governor, Urjit Patel in the first ever interview

The Financial Express logo The Financial Express 5 days ago FE Online

Urjit Patel, the RBI Governor in a first ever elaborate interview to CNN, TV 18 spoke about demonetisation, growth, rates and rupee. He said financial crisis was likely under the new US President, Donald Trump. And that nobody would be spared of financial volatility from the United States. He said nobody would be spared of financial volatility from the United States.

Speaking on demonetisation of Rs 500 and Rs 1000 that happened in November 2016, he said that it was well managed and that remonetisation has been very quick. The Governor said that quick and faster remonetisation was part of the plan. 



However, "we are open to constructive criticism". On asking as to when was demonetisation planned, he said that currency printing plans were set in motion much before.

#UrjitPatelToNetwork18 -- Urjit Patel on Trump's policies, says Asia may be affected as it accounts for 2/3rd of US trade deficits pic.twitter.com/fe4IO0HcF3

- News18 (@CNNnews18) February 17, 2017

On macro economic indicators he said that the best way to support durable growth is to keep the inflation low. India's 7.5 per cent GDP growth target should not be ridiculed.

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