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Urjit Patel Quotes

Indian - Economist | -

Large credit guarantees also impede optimal allocation of financial resources and increase moral hazard.

Financial Credit Moral Resources

It is easy and quick to fritter away gains regarding macroeconomic stability.

Easy Quick Stability Away Gains

There are tens of thousands of bank branches and 4,000 currency chests. We need to be careful and try that this is a number which is not a mere estimate but a verified number both physically and in the accounting sense.

Accounting Try Bank Need Be Careful

People were holding high denomination notes to keep tax unaccounted for money. Some sectors like real estate were using cash to avoid tax.

Money People Real Estate Tax High

The RBI is interacting with the banks every day.

Day Every Day Every Banks

The staff members of all banks have worked very hard, and we all owe them our gratitude.

Gratitude Hard Owe Our Very Members

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.

Change Best People You Place New

This is a once in a lifetime event. It is very rare to remove 86% of the currency in circulation in one go. The logistics of such an operation are mammoth.

Go Rare Lifetime Event Logistics

Enhanced transparency has helped to reinforce the stability of India's financial system.

Financial Transparency India System

Valid criticism is something that we are open for, and we take it in the spirit in which it is given and try to improve ourselves.

Criticism Spirit Try Open Improve

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.

Plan Fast Plans Possible Bank Notes

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.

Down Three Possible Committee Bring

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