RBI governor Urjit Patel steps down amid face-off with government
New Delhi: Reserve Bank of India (RBI) Governor Urjit Patel on Monday resigned from his post with immediate effect, citing “personal reasons”.
The resignation comes amid an unprecedented public face-off with the government over a range of issues including autonomy.
Patel stepped down from his post. He was appointed in 2016 for a three-year term, which was to expire in September next year.
“On account of personal reasons, I have decided to step down from my current position effective immediately,” Mr Patel said in his letter that had no word on his future plans.
The resignation comes days ahead of a crucial board meeting on Friday, that was meant to discuss the progress on issues raised by the board’s government nominees last month.