MUMBAI: Years ago, in an era when the RBI governor was best known for his signature on the currency notes rather than monetary policy and smart one-liners, the top central banker of the time had an unusual habit. He often instructed the security personnel and driver to step out of the car midway so that he could be behind the wheels.On such occasions, RBI officials had no clue where he was headed to. As the frequency of such visits rose, the Bank bought a Maruti 800 which was easier for the Governor to manoeuvre in Mumbai (then, Bombay) roads.Urjit Patel who stepped in as the 24th governor on Tuesday is unlikely to do anything as adventurous as his distant predecessor. They are mostly unassuming chaperones who may not carry guns even if they hold arms licence. But those in financial markets, however, are awaiting his first statement which, they sense, may not come in a hurry.

Source: Economic Times September 08, 2016 02:48 UTC