term: Patel's term was due to expire in September 2019, according to CNN. On account of personal reasons, I have decided to step down from my current position, Patel said in a statement. Governor Urjit Patel announced Monday that he was stepping down from his post, effective immediately. It has been my privilege and honor to serve in the Reserve Bank of India. Modi had reportedly been leaning on the RBI to relax lending criteria and use excess funds to boost economic growth before national elections next year. The surprise resignation comes just weeks after senior RBI officials warned the government of Prime Minister Narendra Modi against threatening the central bank's autonomy.
(news.financializer.com). As
reported in the news.
Tagged under term, monday topics.