MUMBAI – The Indian government is likely to appoint the new Reserve Bank of India Governor later on Tuesday, ET Now television channel said citing a report by local news agency Cogencis.

The finance ministry wants to appoint the new RBI chief before the next board meeting, ET Now said citing Cogencis.

The RBI’s next board meeting is scheduled on Friday. So far, no intimation has been given of any delay or changes in the date, one board member told Reuters.

RBI Governor Urjit Patel abruptly resigned on Monday prompting a sharp sell-off in financial markets early Tuesday before they recovered most of the losses.

Reuters

11/12/2018