Governor Urjit Patel’s resignation from his position at the Reserve Bank of India (RBI) has come as no surprise to Kerala Finance Minister and Senior Communist Party of India (Marxist) leader Thomas Isaac. It had been in the making for some time, he says.
On Tuesday, Isaac tweeted, saying: "What is shocking is the government attitude… They are hell bound to extract a third of the RBI reserves… That desperate are they about the fiscal deficit. Frying pan or fire, which is better?" questioned Isaac.
Patel exit is no surprise. It has been in the making for some time .What is shocking is the gov attitude.They are hell bound to extract a third of the RBI reserves , Argentina or not. That desperate are they about the fiscal deficit. Frying pan or fire, which is better?— Thomas Isaac (@drthomasisaac) December 11, 2018
Citing personal reasons, Urjit Patel had resigned as the RBI Governor on Monday. Patel, 55, who had taken over as the 24th Governor of the central bank on September 5, 2016, had the shortest tenure since 1992, according to reports.