RBI governor Urjit Patel could resign on November 19: report
Updated : November 08, 2018 09:02:20 IST
The government and RBI have been fighting for weeks over how much autonomy the RBI should have as the administration of Prime Minister Narendra Modi seeks to reduce curbs on lending and to gain access to the RBI's surplus reserves.
The rift worsened late last month when one of the bank's deputy governors said in a speech that undermining central bank independence could be “potentially catastrophic”.
Reuters reported on Tuesday that the government intends to keep pressing its demands even if it risks provoking a resignation by Patel, according to three sources familiar with the government's thinking.
Published : November 07, 2018 09:23 AM IST