Reserve Bank Governor Urjit Patel has resigned. They said it is because of personal reasons. In the last few months, there was a dispute between the government and the RBI on many issues.
The government had also used Section 7 of the RBI Act. After this it was assumed that if the government imposes section 7, then Urgit Patel can resign. But, later the news of the dispute was resolved.
On November 19, the board meeting of the RBI was agreed on some issues of the dispute. After this the fear was over that Urjit Patel would resign. But, on Monday, suddenly he announced the resignation.
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