HOPEFULLY THE HIGH INTEREST REGIME OF INDIA WILL CHANGE WITH TOTAL CHANGES AT RBI FROM FEBRUARY 2025 MPC MEET: IN THE NATIONAL INTEREST

 

HOPEFULLY THE HIGH INTEREST REGIME OF INDIA WILL CHANGE WITH TOTAL CHANGES AT RBI FROM FEBRUARY 2025 MPC MEET: IN THE NATIONAL INTEREST


Dear Readers,

The Dy. Governor of RBI, Dr. Michael Debabrata Patra who was in charge of Monetary Policy Department at RBI has retired today on 15-January-2025, as his term of appointment at RBI has ended on 15-January-2025. Here is a News link:
https://bfsi.economictimes.indiatimes.com/news/policy/rbis-62nd-deputy-governor-michael-patras-tenure-comes-to-a-close/117260545

Right now Sri M. Rajeshwar Rao the other incumbent Dy. Governor of RBI is in charge of the Monetary Policy Dept. of RBI in the mean while, where as the Process to appoint a New Dy. Governor to replace Dr. Michael Patra (who retired today on 15-Jan-2025) is already on in action as per the news in public domain. 

Previously in last month, the Former RBI Governor Mr. Shaktikant Dash was allowed to retire on 10-December-2024 and Mr. Sanjay Malhotra was appointed by the Government of India as the New Governor of RBi. 

There has been a total uncomfortable situation in the Nation (India) as the Former Internal Team of RBI led by Mr. Shaktikant Dash (former Governor) and Dr. Michael Patra(former Dy. Governor in charge of Monetary Policy Dept. of RBI) along with the other junior incumbent of RBI (an Executive Director of RBI) were dragging the whole MPC(Monetary Policy Committee) to hold a High Interest Rate Regime of 6.5% Repo Rate Since February 2023, for 2years in the Stubborn Manner in the name of Inflation quite illogically. This was continuing in spite of the facts; that Government of India even was in favour of a Rate Cut cycle to ease the high interest burden of the common people and industry of India and also in spite of two-external members of the 3-external members ( out of total 6-MPC members) having dissented to favour a rate cut cycle for quite some time. 

With replacement of the Stubborn Team holding the High Interest Rate Regime at RBI, and a New Team in place under the leadership of New RBI Governor Mr. Sanjay Malhotra, now the Nation of India can hope for a Rate Cut Cycle to begin at RBI from the upcoming February 2025 MPC Meet in the National Interest. 

Let us hope for the Best in the National Interest. 

With Best regards,
Dr. Nimain Charan Biswal,
Mumbai, India 


About the Author : Dr. Nimain Charan Biswal is a B.Sc.(Agri. Science and Technology), M.B.A. and Ph.D.(Management Area ) by qualifications; and he has 38+ years of work experience in Social, both industrial and Development sectors in diversified fields of Social Importance. He has been educated at Orissa University of Agriculture and Technology (OUAT)-Bhubaneswar, Institute of Rural Management Anand (IRMA) and Gujarat University (with Resource Support of IIM-Ahmedabad). He is further educated at IIM-Calcutta, XLRI-Jamshedpur, Apple Computer Industries and Spar Inc., USA. He has worked for reputed National and International Organizations in Senior/Top Management Capacities at Board level as well as Managing Director and CEO. He is a management expert covering extensive areas from management in Social, industrial sectors, management in Agriculture and Dairy, Development Management to management of public systems. He is a prominent professional of India and known Internationally as well. He is also a Political Strategist. He lives at Mumbai in India.

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