Reserve Bank of India (RBI) Governor Urjit Patel Monday stepped down from his post citing personal reasons. Patel has become the first governor since 1990 to step down before the end of his term.
Here is what the RBI chief wrote in his resignation letter:
“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.”