limited legal powers of rbi while dealing with the staterun lenders which have the bulk of the rs 12 trillion of dud assetsin private sector lenders he cut short the terms of at least two chief executives shikha sharma of axis bank and rana kapoor of yes bank for possible mismanagement and acted tough on the need for promoter shareholding to come down at kotak mahindra bank and bandhan bankthe resignation came on a day when kotak mahindra bank filed a writ against the rbi for rejecting the banks dilution of promoters stake through a complex maze of debt equity patel spoke less but with conviction and in a soft manner he refused being typecasted and one famous retort on being asked if he is a hawk or a dove will be etched in history of the central bank nomenclaturewhen patel a kenyan by nationality took indian citizenship only after he was appointed the deputy governor january 2013 to september 2016 in charge of the critical monetary policy department compared the rbi to an owl which has to be watchful and at guard for every developmentpossibly patels biggest contribution to the central bank will be his work as the head of the committee which eventually led the way for the rbi to become an inflation targeting onethe sixmember monetary policy committee headed by patel undertook actions on either ways as per the evolving inflationary dynamics and also shifted stancesif fact his first act of dissent was expressed way back in june 2017 when refused to meet the finance ministry honchos ahead of the monetary policya curtsey that every governor follows before every monetary policy announcementpatels threeyear tenure was scheduled to end early september 2019 and he had hinted at rate cuts in the future if the rbi continues to see a dip in inflationon demonetisation one of the major decisions where the rbi and government looked aligned the most a recent media report on the minutes of rbis board meeting signed by patel in december 2016 reveal the reservations that he and the rbi had on the movewithin days of the demonetisation when he was being criticised by one and all for not speaking up patel had told pti in an interview late november 2016 that rbi was taking all necessary steps to ease the genuine pain of citizens arising from the noteban with a clear intent to normalise the things as early as possiblewatch rbi governor urjit patel steps down