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"RBI Not Dependent On One Individual": NITI Aayog On Urjit Patel Exit

Rajiv Kumar plays down Urjit Patel's shock resignation Country's institutional capabilities are very strong, Mr Kumar said Concerns about central bank's independence have been raised

Urjit Patel's resignation came after a month-long tussle over policy with the government.
Urjit Patel's resignation came after a month-long tussle over policy with the government.

NEW DELHI: The vice chairman of an influential government think tank on Tuesday played down the shock resignation of Reserve Bank of India governor Urjit Patel, saying the government would do whatever is required to ensure stability.

"It is not as if the RBI is dependent on any particular individual," said Rajiv Kumar, vice chairman of the NITI Aayog think tank, adding the country's institutional capabilities are very strong.

Patel's resignation came after a month-long tussle over policy with the government that has raised concerns about the central bank's independence as a national election nears.