RBI Governor Urjit Patel may quit at next board meeting on November 19: report

Agencies
November 7, 2018

New Delhi, Nov 7: Reserve Bank of India (RBI) Governor Urjit Patel could resign at the central bank's next board meeting on November 19, online financial publication Moneylife reported on Wednesday, citing sources in touch with the governor.

The government and the RBI have been fighting for weeks over how much autonomy the RBI should have as the administration of Prime Minister Narendra Modi seeks to reduce curbs on lending and to gain access to the RBI's surplus reserves.

The rift worsened late last month when one of the bank's deputy governors said in a speech that undermining central bank independence could be "potentially catastrophic".

Moneylife's report said if the feud escalates further, there is "a good chance" Patel will resign at the RBI's next meeting, saying he was tired of the struggle with the government, and it was having a negative impact on his health.

The report did not cite the number of sources. The RBI did not immediately respond to a request for comment.

The story was written by veteran Indian financial journalist Sucheta Dalal who is well known for her investigative reporting. She is one of the founders of Moneylife.

Reuters reported on Tuesday that the government intends to keep pressing its demands even if it risks provoking a resignation by Patel, according to three sources familiar with the government's thinking.

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News Network
December 19,2025

Mangaluru: Public transport in Mangaluru is set for a state-led transformation as the government moves to deploy 100 new electric govt buses to replace unreliable private services. The initiative aims to provide a dependable alternative to private operators who have been frequently "cutting trips," leaving thousands of commuters stranded.

The announcement was made by Deputy Commissioner and MCC Administrator Darshan HV during a public phone-in session. The move specifically targets routes where private bus service has become erratic, ensuring that citizens no longer have to rely on a fluctuating private sector for their daily commute.

Restoring the Govt Presence

The transport crisis was brought to the forefront by Ramayya, a resident of Bajal, who highlighted a growing trend of private buses skipping morning and night trips. With the previous KSRTC (govt) services discontinued, residents have been left without a fallback option.

To fix this, the DC confirmed that the PM-eBus Sewa Scheme will bring 100 government-owned electric buses to the city:

•    Phased Deployment: The first 50 of the new 100 government buses are scheduled to arrive by March 2026.

•    State Infrastructure: Two new government depots, including one at Mudipu, are being prepared for operations.

•    Recruitment: The state has already begun training a new batch of government bus drivers to ensure the fleet is operational the moment it arrives.

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News Network
December 19,2025

Saudi Arabia has abolished fees on expatriate workers employed in licensed industrial establishments, signaling a strong push to empower national factories and enhance the Kingdom’s global industrial competitiveness. The move reflects the leadership’s commitment to building a sustainable and resilient industrial economy under Saudi Vision 2030.

The decision was approved by the Council of Ministers, chaired by Crown Prince and Prime Minister Mohammed bin Salman, following a recommendation from the Council of Economic and Development Affairs (CEDA). It forms part of a broader strategy to support, modernize, and strengthen the industrial sector.

By removing fees on foreign workers, industrial establishments gain greater operational flexibility and relief from financial pressures. This is expected to help factories expand production, improve efficiency, and compete more effectively in international markets, while reinforcing long-term sustainability.

The initiative aligns closely with Saudi Vision 2030, which identifies industry as a key pillar of economic diversification. A competitive and resilient industrial base is viewed as essential for driving innovation, attracting investment, and sustaining long-term economic growth.

Overall, the fee exemption underscores the Kingdom’s commitment to creating a supportive environment for industrial development and ensuring that Saudi factories remain globally competitive and capable of leading the nation’s economic transformation.

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News Network
December 17,2025

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Melkar, Dec 17: The 17th Annual Day and Graduation Ceremony of Melkar Women’s PU and Degree College, themed “Fusion-2K25,” was celebrated with dignity and enthusiasm, marking a significant milestone in the institution’s academic journey. The programme reflected the college’s steadfast commitment to academic excellence, character building, and the holistic development of students.

The event was inaugurated by Mr. Asif Mohammed, whose presence greatly enriched the occasion. The celebration was further graced by the chief guests Mr. P. B. Ahmed Mudassir and Mr. Nissar Fakeer Mohammed, along with the distinguished guests of honour Mr. B. A. Nazeer and Mr. Ibrahim Gadiyar. In their inspiring addresses, the guests encouraged the graduating students and appreciated the dedicated efforts of the management, faculty, and students.

The annual report was presented by the Principal, Mr. Abdul Majeed S, highlighting the institution’s academic progress, notable achievements, and extracurricular accomplishments during the academic year.

The presidential address was delivered by the esteemed Chairman of Melkar Women’s PU and Degree College, Dr. Haji S. M. Rasheed, who emphasized the vital role of education in empowering women and shaping responsible citizens. He also stressed the importance of discipline, dedication, and perseverance in achieving success.

Cultural programmes and academic recognitions formed an integral part of the celebration, showcasing the talents and achievements of the students. The graduation ceremony was a proud moment for the outgoing students as they were formally conferred degrees and wished success in their future endeavours.

Ms. Mashmooma Fathima served as the Master of Ceremonies. The welcome address was delivered by Ms. Fathima Nida, and the programme concluded with a vote of thanks proposed by Ms. Ayisha Suhana.

The event successfully achieved its objectives and was highly appreciated by the guests and attendees.

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