Breaking: RBI Governor Urjit Patel resigns

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Urjit Patel, the Governor of Reserve Bank of India, has resigned from his post.  He has reportedly cited personal reasons for doing so.

Here is 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 RBI in various capacities over the years. The support and hard work of the RBI staff, officers and management has been the proximate driver of the Bank’s considerable accomplishments in recent years.”

He further said: “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.”