RBI Governor Urjit Patel has resigned. (Photo: File)
RBI Governor Urjit Patel has resigned. (Photo: File)

Putting speculation to rest, RBI Governor Urjit Patel has stepped down citing ‘personal reasons’. In a note, Patel said, “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. Urjit R. Patel 10th December 2018.

Reacting to the news, the Congress party said it was the result of ‘chowkidar’s’ assault on democratic institutions. In a tweet on its official twitter handle the Congress said, “Another one bites…

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