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India's new central bank governor has big shoes to fill

He is articulate, analytical, persuasive, discreet and more than capable of rising to the challenge.

Mr Patel is certainly no monetary totemist; he understands well that interest rates are but one instrument to beat inflation.

TWENTY five years ago, I had a colleague at the International Monetary Fund (IMF) in Washington, DC. His name was Urjit Patel. I was delighted to see that he has just been appointed governor of the Reserve Bank of India (RBI) to succeed the incumbent, Raghuram Rajan. Investors, the business