The Reserve Bank of India (RBI) Governor Urjit Patel attends a news conference after the bi-monthly monetary policy review in Mumbai, India April 6, 2017. REUTERS/Shailesh Andrade
Mumbai, December 10 (IANS) Reserve Bank of India (RBI) Governor Urjit Patel on Monday resigned from his post with immediate effect, citing "personal reasons".
"On account of personal reasons, I have decided to step down from my current position effective immediately," he said in a brief statement released by the RBI.
Modi hails Urjit Patel for bringing financial stability
New Delhi, December 10 (IANS) Calling him a thorough professional with impeccable integrity, Prime Minister Narendra Modi said RBI Governor Urjit Patel, who quit on Monday, steered the banking system out of chaos and brought financial stability.
"Urjit Patel is an economist of a very high calibre with a deep and insightful understanding of macro-economic issues. He steered the banking system from chaos to order and ensured discipline. Under his leadership, the RBI brought financial stability," he tweeted.
"He has been in the Reserve Bank of India for about six years as Deputy Governor and Governor. He leaves behind a great legacy. We will miss him immensely," Modi added.
Patel on Monday resigned from his post with immediate effect, citing "personal reasons".
His resignation comes amid the ongoing tussle between the central bank and the government over scores of issues including transfer of RBI's reserves to the government and measures on ensuring liquidity in the MSME sector.
Jaitley appreciates Patel's services to nation
New Delhi, December 10 (IANS) Reacting to RBI Governor Urjit Patel's sudden resignation, Finance Minister Arun Jaitley on Monday appreciated his services to the nation and said it was a pleasure working with him.
"The government acknowledges with deep sense of appreciation the services rendered by Urjit Patel to this country, both in his capacity as the Governor and the Deputy Governor of the RBI. It was a pleasure for me to deal with him and benefit from his scholarship," Jaitley tweeted.
"I wish Patel all the very best and many more years of public service," he said in another tweet.
Patel, who took charge of the central bank on September 4, 2016, resigned from the post of the Reserve Bank of India (RBI) Governor with immediate effect on Monday, citing "personal reasons".
"On account of personal reasons, I have decided to step down from my current position effective immediately," he said in a statement released by the RBI.
Tyrannical Modi regime has unleashed financial emergency: Congress on Urjit's exit
New Delhi, December 10 (IANS) Attacking the Narendra Modi government over RBI Governor Urjit Patel's resignation, the Congress on Monday said the "tyrannical Modi regime" had unleashed a de facto financial emergency in the nation and that the integrity of another institution had been "denigrated".
Congress spokesperson Randeep Singh Surjewala said creating economic anarchy and compromising India's monetary policies through stifling the Reserve Bank of India's (RBI) independence was the DNA of the Bharatiya Janata Party.
"Integrity of another institution-RBI, stands denigrated by a tyrannical Modi regime as reflected in RBI Governor's unceremonious exit. Economic anarchy, compromising India's monetary policies and attempting to stifle RBI's independence by government-appointed puppets is the DNA of the BJP," Surjewala tweeted.
Congress MP Ahmed Patel said the manner in which the RBI Governor had been forced to quit was a blot on India's monetary and banking system.
"BJP government has unleashed a de facto financial emergency. The country's reputation and credibility is now at stake," he said.
Patel on Monday resigned from his post with immediate effect, citing "personal reasons".
