Urjit steps down Shaktikanta Das takes over

Former finance Sect , member of the finance commission Shaktikanta Das appointed as the Governor of the Reserve Bank of India (RBI).

Last 24 hours Minister Khuswaha, RBI Gov, now Surjit Bhalla resigns from government, Is any tacit ultimatum address is given by the top leaders of BJP to which these eminent people has refused to obey Is Saffron baton on media will be tight -Rahul inspire media

Governor of the Reserve Bank of India, Urjit Patel, announced the decision on Monday, citing personal reasons. He took over the post in 2016 and his term had been set to run until September next year.38875531_10160792116650008_3843731353208094720_n

Patel has been overseeing a period of robust economic growth and has a good reputation among investors at home and abroad. But he has been critical of the Modi administration.

The government wants to get more involved in the bank’s oversight of financial institutions, and allow failing public banks to lend more easily.

But Patel was against this, saying it would infringe on the central bank’s independence and hurt investor confidence in the country.

His resignation is expected to throw Indian markets into turmoil, and may hurt Modi in next year’s general election.

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