"I'm Revealing For The First Time...": What PM Modi Said On Urjit Patel

Urjit Patel resigned as RBI governor after a months-long tussle over policy with the government over the central bank's independence.

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Urjit Patel, the RBI governor, resigned on December 10 citing "personal reasons". (File)


Mumbai: 

Highlights

  1. Urjit Patel wanted to resign for months, wrote to me personally: PM
  2. Acknowledge he did a good job, wanted to resign for personal reasons: PM
  3. Patel resigned last month amid tussle between RBI, centre over autonomy

Urjit Patel had wanted to resign for months because of "personal reasons", Prime Minister Narendra Modi said on Tuesday, talking about the resignation of the former Reserve Bank of India governor in December amid speculation of a rift with the government. "He wrote to me personally," PM Modi said in an interview to news agency ANI.

PM Modi also said Urjit Patel had done a good job.

"The governor himself requested (to resign) because of personal reasons. I am revealing for the first time, he was telling me about this for the past six-seven months before his resignation. He gave it even in writing. He wrote to me personally," PM Modi said.

Mr Patel resigned after months of perceived acrimony between the government and the central bank over issues ranging from liquidity and credit flow to tackling weak banks, which raised concerns about the RBI's independence ahead of general elections this year.

The Congress and other opposition parties alleged that Mr Patel was forced to quit after resisting immense pressure from the government.

When asked if there was any political pressure on the governor to resign, PM Modi denied that was the case.

"No such question arises. I acknowledge that Patel did a good job as RBI governor," he said.

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