Urjit Patel- Reserve Bank of India Governor resigned on Monday amid a rift with the government. Patel resigned months after the rift between the central bank and the Narendra Modi government came to light. He has quit amid an unprecedented public face-off with the government over a range of issues including autonomy.
However, in the statement released by him, Patel cited personal reason behind his resignation.
Notably, one of the first to respond to the issue was Mr Patel’s predecessor Raghuram Rajan. He said, “All Indians should be concerned about Governor Patel’s resignation.”
Meanwhile, the social media platform Twitter is flooded by politicians and other eminent personalities stating their concern on the matter. This is how Twitteratis reacted
Notably, Patel took charge as the RBI governor on 4 September 2016 after Raghuram Rajan resigned from the post on 19 June of that year. In September 2019, Patel’s term as RBI governor was to end in September 2019.
Prior to becoming the 24th governor of the Reserve Bank of India (RBI), Urjit R Patel was a deputy governor at the central bank. Patel had got an extension upon completion of his first three-year term on 10 January 2016, as the deputy governor in charge of the monetary policy.
Also read: RBI Governor Urjit Patel resigns