You are here: Home » Reuters » News
Business Standard

RBI governor Urjit Patel could resign on November 19: report

Reuters  |  NEW DELHI 

By Pal and Suvashree Choudhury

NEW DELHI (Reuters) - Reserve of India (RBI) could resign at the central bank's next board meeting on November 19, reported on Wednesday, citing sources in touch with the

The government and RBI have been fighting for weeks over how much autonomy the RBI should have as the administration of seeks to reduce curbs on lending and to gain access to the RBI's surplus reserves.

The rift worsened late last month when one of the bank's deputy governors said in a speech that undermining central independence could be "potentially catastrophic".

Moneylife's report said if the feud escalates further, there is "a good chance" Patel will resign at the RBI's next meeting, saying he was tired of the struggle with the government, and it was having a negative impact on his health.

The report did not cite the number of sources. The RBI did not immediately respond to a request for comment.

The story was written by veteran Indian who is well known for her investigative reporting. She is of

reported on Tuesday that the government intends to keep pressing its demands even if it risks provoking a resignation by Patel, according to three sources familiar with the government's thinking.

(Reporting by Pal and Suvashree Choudhury; Editing by and Neil Fullick)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 07 2018. 09:18 IST
RECOMMENDED FOR YOU