At a time when most economists used either the Hawk or Dove philosophy to categorize regulators, Dr Patel brought a new term- 'Wise Owl'.
"An owl is traditionally a symbol of wisdom. So, we are neither doves nor hawks, but owls and we are vigilant when others are resting," he said during an interaction.
The RBI governor's term usually lasts for a term of three years.
In his next term, the RBI Governor will be working alongside the government on various fronts including ambitious goals such as doubling farmers' income, boosting digital payments and providing easier funding to MSMEs.
We wish the Governor a successful and a great next term, and hope his economic reforms and theories do help bring in bringing about the much needed reforms and control inflation (Petrol at Rs 80 per litre in Mumbai is expensive, so is dining out, and even dreaming of pursuing an education abroad).
On a lighter note we seek to remind the Governor to choose a different bird than a Hawk, Dove or even Owl. After all, an Ullu (Hindi for Owl) is a slang for a fool.
If we could, we might suggest the Governor to consider the Peacock instead of an Ullu. The Peacock is the national bird of the country.
Also the Hindi for Peacock- More is what commoners are expecting anxiously. More Jobs, More Growth, and certainly More Strength to the Rupee.