Change of guard at RBI: Urjit Patel's tenure begins

Mumbai, Sep 6 In a low-key affair, Urjit Patel has begun his innings as Reserve Bank's new Governor with a private off-media 'handover' ceremony today -- a marked departure from his predecessor Raghuram Rajan announcing big-bang reforms on his first day itself three years ago.

Traditionally, the handover of charge by the outgoing Governor to the new head of the central bank has been a public affair and had taken place in the past in front of media cameras and this was also the case when Rajan had taken over from his predecessor D Subbarao.