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Functioning of RBI not dependent on any particular individual: Rajiv Kumar

The Niti Aayog vice chairman also assured that the government will do whatever is required to continue its business as usual

Press Trust of India  |  New Delhi 

Rajiv Kumar, NITI Aayog, VC
NITI Aayog VC Rajiv Kumar

A day after resigned as RBI Governor, Aayog Vice Chairman Tuesday said the central bank's institutional capabilities are 'very strong' and it will do whatever is required for the markets and economy.

Kumar further said although Patel has done an amazing work in the last two years as RBI Governor, the functioning of the central bank is not dependent on any particular individual.

"RBI's institutional capabilities are very strong and they will do whatever is required for the markets and economy.

"The fact is that RBI itself is such a professional institution, and such a long-standing institution that you know, the business will continue," Kumar said on the sidelines of an event here.

Patel, who had a run-in with the government over autonomy of the central bank, resigned from his job on Monday, citing personal reasons.

The Aayog vice chairman also assured that the government will do whatever is required to continue its business as usual.

"Patel has done an amazing work in the last two years...But RBI is not dependent on any one particular individual," Kumar said.

Commenting of weakening of the rupee after Patel's resignation, Kumar said: "The government also, I am sure, is seized of the matter and will take care whichever way it's possible."

The rupee Tuesday plunged by a significant 110 paise in early trade as domestic equities saw heavy sell-off amid crucial state election results and the unexpected resignation of

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, December 11 2018. 12:10 IST
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