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Indian gov't appoints Urjit Patel as head central bank

The Indian government on Saturday appointed Urjit R Patel as the new head of its central banking institution -- Reserve Bank of India (RBI), officials said.

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India's central bank chief to step down

The popular Reserve Bank of India (RBI) Gov. Raghuram Rajan will step down when his term ends in September to return to academia, he said in a letter published Saturday, ending intense speculation over his future.