FILE PHOTO: The Reserve Bank of India (RBI) Governor Urjit Patel pauses during a news conference after a monetary policy review in Mumbai, India, December 5, 2018. REUTERS/Francis Mascarenhas/File Photo
December 11, 2018
NEW DELHI (Reuters) – 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 India’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.
(Reporting by Alasdair Pal; Editing by Malini Menon)
