Yak Rbi Governor Urjit Patel Resigns

Just few days ahead of the curcial board coming together on 14th December, the Governor of Reserve Bank of Republic of Republic of India (RBI) Urjit Patel has resigned from his post service today alongside immediate effect. With this he became the 1st RBI governor since 1990 to stride downward earlier his term ends. He is the 5th Governor to create then since Independence.

His three twelvemonth term was to destination inwards September 2019. He stepped downward citing personal reasons, but did non offering whatever explanation. His resignation comes against the backdrop of increasing tensions betwixt the Finance ministry building too the Reserve Bank of India.

“On work organisation human relationship of personal reasons, I conduct maintain decided to stride downward from my electrical current position effective immediately. It has been my privilege too accolade to serve inwards the Reserve Bank of Republic of Republic of India inwards diverse capacities over the years. The back upward too difficult operate of RBI staff, officers too management has been the proximate driver of the Bank’s considerable accomplishments inwards recent years. I accept this chance to limited gratitude to my colleagues too Directors of the RBI Central Board, too wishing them all the best for the future.” Patel said inwards a statement.

Urjit Patel took over every 2nd the 24th Governor of the fundamental banking concern on September 5, 2016. He replaced Raghuram Rajan. He had the shortest tenure since the twelvemonth 1992.

Governors who quit RBI earlier their Term

• Benegal Rama Rau inwards 1957.
• K R Puri in May 1977.
• R due north Malhotra in 1990 .
• S Venkitaramanan in 1992.
• Urjit Patel in 2018.

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