Urjit Patel resigns as RBI Governor


New Delhi: Reserve Bank of India Governor Urjit Patel today resigned from his post, days after disagreements between the central bank and the union government.

Patel said he was resigning on account of personal reasons.

“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,” Patel said in a statement.

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.

Urjit Patel’s resignation is effective immediately.

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