Reserve Bank of India (RBI) Governor Urjit Patel on Monday resigned from his current position with immediate effect.
In a brief statement issued by RBI, he said, “On account of personal reasons, I have decided to step down from my current position effective immediately.”
He further expressed his gratitude by adding, “It has been my privilege and honor 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 have 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 Ravindra Patel served as 24th Governor of RBI and was appointed on 4 September 2016 thereby succeeding Raghuram Rajan.
Patel’s tenure was supposed to end in September 2019.
He is the first governor after 1990s to resign from his post before the end of his term.