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Chaos may cast a shadow on global trade

Resignation of Urjit Patel will have a negative impact on market sentiment as it leaves RBI headless at a crucial time

Devangshu Datta

The last fortnight has been marked by an escalation in geopolitical tensions and there's every likelihood that the tensions will remain high. On the domestic front, the shock resignation of Reserve Bank of India (RBI) Governor, Urjit Patel, will have a negative impact on market sentiment, which was already low due to the prospect of the BJP losing ground in assembly elections. Abroad, after Russia “confiscated” Ukrainian naval vessels, there were riots in France, big anti-Brexit demonstrations in the UK, and Angela Merkel appointed her political successor.  The ...