RBI governor Urjit Patel has resigned

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Reserve Bank of India Governor Urjit Patel has stepped down effective immediately, the central bank’s top official said in a statement.

“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.”

This statement by Patel was published by the central bank on its website.

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