PM Modi got into action on Monday evening to choose next RBI governor

While the buzz on a bureaucrat getting the top seat at Mint Road grew louder, Surjit Bhalla's exit from the Prime Minister's Economic Advisory Council changed the direction of the narrative

Late Monday evening, soon after RBI governor Urjit Patel announced his resignation, Prime Minister Narendra Modi is learnt to have called a meeting of top officials. With the entire dispensation caught off guard a day before the results of five Assembly elections were to be out and four days ahead of the RBI board meeting, the government quickly got into action to shortlist the names of suitable candidates for the next governor.

A source close to the development confirmed that there was no prior