NEW DELHI: The outgoing Reserve Bank of India (RBI) Governor, Raghuram Rajan , a hawk, enjoyed a rock star status among foreign investors and domestic media all through his three-year tenure.However, rating agencies and foreign brokerages believe Rajan's successor Urjit Patel need not follow the same style to be successful. "But Urjit Patel has also been at IMF and other multilateral institutions," Bhanshali said.Patel, a PhD from Yale University and M Phil from Oxford University, has been serving as Deputy Governor since January 2013. The committee, which had recommended the inflation targets based on consumer price inflation, against wholesale price inflation earlier, was headed by Patel.Jahangir Aziz of JPMorgan said Patel would be a natural successor to Rajan. "If you recall, he was the person who headed the working committee that set up the nitty-gritty of the inflation targeting framework. If you recall, few weeks back the government also decided to keep the focus on inflation as a target for the framework," Aziz said in an interview with ETNow.

Source: Economic Times August 22, 2016 05:48 UTC