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In a statement uploaded on the official website, RBI Governor Urjit Patel has announced to step down from the position, citing personal reasons, with immediate effect.
The full statement released by the Governor read as: “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. -Urjit R. Patel (10th December 2018).”
The resignation from the governor comes after the recent series of clashes between the union government and the central bank over numerous occasions on the various subject matter.
