Rajan calls for detailed look on Patel’s resignation

Former Reserve Bank of India (RBI) governor Raghuram Rajan has called for a detailed analysis of Urjit Patel’s resignation statement. According to him, all the Indians should be concerned about it.

“I think that cooler heads should prevail and that Dr Patel has made a statement. I think that this is the ultimate statement, that a regulator or a public servant can make. And I think statement should be respected. We should go into the details of why there was this impasse that forced him to take this ultimate decision,” former RBI governor said.

Patel, in his resignation letter, cited personal reasons behind his resignation.

Rajan, in an interview with ET Now, also added that it is a matter of grave concern for the government, as the central bank is a pillar of growth in the country.

“I think the situation has come this far as a result of intransigence and we need to figure out how to quieten the things.”