Former prime minister Manmohan Singh has termed RBI Governor Urjit Patel’s resignation as ‘very unfortunate’ and said it was a ‘severe blow’ to the country’s economy.
Patel, who had a run in with the government over autonomy of the central bank, resigned from his job earlier on Monday, citing personal reasons.
ALSO READ: RBI Governor Urjit Patel resigns citing ‘personal reasons’
In a statement released on Monday evening, the Congress leader said, “there have been apprehensions expressed earlier by the Deputy Governor of the RBI about the government’s intent to raid the capital reserves of the RBI for fiscal purposes. I hope the resignation of the Governor is not a sign that this may soon become a reality,”.
“I also sincerely hope that this sudden resignation of the Governor is not a harbinger of the Modi government’s attempts to destroy the institutional foundations of India’s $3 trillion economy,” he added.
Click here for Latest News updates and viral videos on our AI-powered smart news genie