There were earlier reports that Patel may consider stepping down from the post following Finance Minister Arun Jaitley’s scathing criticism of the central bank’s ‘lending spree’.
File photo of RBI) Governor Urjit Patel.
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New Delhi: Reserve Bank of India (RBI) governor Urjit Patel on Monday stepped down from his post, days after Finance Minister Arun Jaitley’s scathing criticism of the central bank’s “lending spree”, CNBC-TV18 reported.
Patel, who cited “personal reasons” behind his decision, was in a conflict with the Union finance ministry over matters related to the monetary policy.
In a statement, Patel said it was a privilege and honour to serve the central bank and expressed his gratitude to his colleagues and directors of the RBI central board.
On October 31, CNBC-TV18 reported that the “RBI governor may even consider resigning. All options on the table,” quoting a source familiar with the matter as saying. It quoted another source as saying that there is “irreversible breakdown between RBI governor and the government”.
(Details awaited)
| Edited by: Ahona Sengupta
Source: News18