Reserve Bank of India Governor Urjit Patel may consider resigning from his post given a breakdown in relations with the government. It said the government had sent letters to the RBI governor in recent weeks exercising powers under section 7 of the RBI Act on issues ranging from liquidity for non-bank finance companies, capital requirements for weak banks and lending to small- and medium-sized companies. It is difficult to believe that the RBI governor will resign because it is unprecedented and would look quite irresponsible and (an) immature step, said a senior trader at a foreign bank. But it is quite worrisome to see the government trying to continuously interfere into the RBI’s operations.
RBI Governor Urjit Patel may resign on rift with govt, reports say
