RBI governor Urjit Patel resigns from post, cites 'personal reasons' in brief note issued to Central bank

After weeks of speculation and 'will he?-won't he?', RBI Governor Urjit Patel tendered his resignation from the post on Monday afternoon.

Citing 'personal reasons', the governor stated his intention to step down from the post with immediate effect.

The following is the full text of Patel's resignation letter:

Statement by Governor

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.

Urjit R. Patel
10th December 2018

Note: The entire text has been reproduced from the Reserve Bank of India website and has not been edited by Firstpost for clarity or style.

Updated Date: Dec 10, 2018 17:37:36 IST