Published On: Tue, Dec 11th, 2018

After Patel’s exit NITI Aayog official says RBI not dependent on individual

New Delhi: A day after Urjit Patel stepped down as the Governor of the Reserve Bank of India (RBI), a NITI Aayog official said that the central bank is a professional institution and is not dependent on any particular individual, while praising Patel.

“RBI is such a professional institution that business will continue. It’s not dependent on any individual be it a governor who has done an amazing work in last two years. Now that this has happened RBI will do whatever required,” NITI Aayog Vice Chairman Rajiv Kumar told reporters.

“RBI is such a professional institution that business will continue. It’s not dependent on any individual be it a governor who has done an amazing work in last two years. Now that this has happened RBI will do whatever required,” NITI Aayog Vice Chairman Rajiv Kumar told ANI.

Urjit Patel resigned abruptly on Monday, nine months before the end of his tenure.

The Government in August 2016 had appointed Urjit Patel as the 24th RBI Governor for a period of three years.

Patel, who cited “personal reasons” for quitting the prestigious post, is the Governor since 1990 to resign from the top post of India’s central bank.

He stepped down ahead of the scheduled meeting of the RBI Board on December 14 to consider proposals like RBI governance and providing liquidity for Non-Banking Financial Companies (NBFCs).

ANI

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