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Urjit Patel is a professional with impeccable integrity: PM Modi

New Delhi: After the resignation of RBI governor Urjit Patel, Prime Minister Narendra Modi thanked Patel for his service as the RBI governor.

He wrote on Twitter,” Dr. Urjit Patel is an economist of a very high calibre with a deep and insightful understanding of macroeconomic issues. He steered the banking system from chaos to order and ensured discipline. Under his leadership, the RBI brought financial stability”.

Further he again wrote,” Dr. Urjit Patel is a thorough professional with impeccable integrity. He has been in the Reserve Bank of India for about 6 years as Deputy Governor and Governor. He leaves behind a great legacy. We will miss him immensely”.

Urjit Patel on Monday resigned from the post of Reserve Bank of India (RBI) governor. Patel’s three-year team was to end in September 2019. Patel is also the first RBI governor to resign since 1990.

Submitting his resignation, Urjit Patel cited personal reasons and stepped down with immediate effect. He said, “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,” Urjit Patel said in a statement. “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,” he added.

RBI Governor Urjit Patel earlier appeared before a parliamentary panel to brief on demonetisation and NPA situation in the public sector banks, among other issues. The RBI Governor appeared before the panel days after the central bank’s face-off with the finance ministry over issues ranging from appropriate size of reserves to be maintained by RBI to easing of lending norms for small and medium enterprises.

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