Incoming RBI chief Urjit Patel gets three years to persuade Prime Minister Narendra Modi’s government that the socialist era has passed. Urjit Patel, the incoming central bank chief, has every intention of taking away their $100 billion pacifier. By sitting on $100 billion in surplus public debt, they may be giving up $4 billion in potential profit. Patel gets three years to persuade Prime Minister Narendra Modi’s government that the socialist era has passed. The latter badly need a crash course in credit risk, and they need it before Patel comes for their soother.

Source: Mint August 23, 2016 03:33 UTC