RBI Governor Urjit Patel resigns

ONI Bureau:  Amidst the reports of tiff with the Modi Government on various issues, Reserve Bank of India (RBI) Governor Urjit Patel has resigned from his post citing personal reasons.

“On account of personal reasons, I have decided to step down from my current position (RBI Governor) effective immediately. It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years,” his press statement reads.

“Support & hard work of RBI staff, officers & management has been proximate driver of Bank’s considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues & Directors of RBI Central Board & wish them all the best for future,” he added.

The Congress Party was quick to track, saying institutions are eroding under the NDA regime.