RBI Governor Urjit Patel Resigns Citing Personal Reasons
Reserve Bank of India Governor Urjit Patel resigned today, reported news agency Reuters.
In a statement released by Mr Patel, he said he stepped down on “account of personal reasons.”
Dr. Patel was appointed the Governor of the RBI in 2016. He was previously the Deputy Governor of the central bank.
Patel has become the first governor since 1990 to step down before the end of his term.
Prior to his term as Deputy Governor, which began in January 2013, Dr. Patel was with the Boston Consulting Group as an advisor on energy and infrastructure.
He has a Ph.D. in Economics from Yale University and an M. Phil. from Oxford University. Dr. Patel was with International Monetary Fund (IMF) between 1990 and 1995 and worked on the U.S., India, Bahamas and Myanmar desks.