Reserve Bank of India Governor Urjit Patel has stepped down from his post citing “personal reasons” days after an unprecedented face-off with the government. “On account of personal reasons, I have decided to step down from my current position effective immediately,” Mr Patel said in his letter.
This is Urjit Patel’s full statement:
“On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honour 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 has 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 is a developing story, more details awaiting.