RBI governor Urjit Patel resigns

Reserve Bank of India (RBI) Governor Urjit Patel on Monday resigned from his post with immediate effect, citing “personal reasons”.


New Delhi

Reserve Bank of India (RBI) governor, Urjit Patel resigned here on Monday. In a statement Patel said that he resigned from the post due to personal reasons.

Patel took charge as the RBI governor on 4 September 2016 after Raghuram Rajan resigned from the post on 19 June of that year. Patel’s term as RBI governor was to end in September 2019.

 “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,” he said.

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