RBI Governor Urjit Patel Resigns
Reserve Bank of India Governor Urjit Patel has resigned from his post, making him the first governor since 1990 to step down before his term ends. Patel’s three-year term was to end in September 2019.
“On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honor to serve in the Reserve Bank of India in various capacities over the years. The support and hard work of RBI staff, officers and management have been the proximate driver of the Bank’s considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues and Directors of the RBI Central Board, and wish them all the best for the future.”
This statement by Patel was published by the central bank on its website.
Some experts are saying that Deputy Governor Viral Acharya may also resign soon.
Prime Minister Narendra Modi has said Urjit Patel leaves a great legacy behind as the RBI Governor.