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Govt vs RBI: Patel may resign at next board meeting on Nov 19, says report

BS Reporter/ 07 Nov 18 | 03:00 AM

Urjit Patel

Urjit Patel might resign as RBI governor at the next board meeting on November 19, if the dispute between the central bank and the government escalates further, according to a report by moneylife.in. 

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The website quoted unnamed sources “who are in touch with the governor" as saying that Patel is not only tired of the fight with the government, but it has also been impacting his health in a big way.

Calling Patel “an unusual governor", the author of the report, Sucheta Dalal, said he is extremely introverted and unimpressed by the trappings of power that the post brings with it. Unlike previous governors who revelled in the sprawling heritage bungalow at Altamount Road in Mumbai allotted to them, Patel had not even moved into it. This is primarily because it does not suit the needs of his aged mother who lives with him.

ALSO READ: RBI's Urjit Patel gets CIC notice for not disclosing wilful defaulters list

Interestingly, Viral Acharya, the deputy governor, who is at the centre of the RBI-government faceoff, is also immune to the trappings of power and position associated with the job, the report said.

Acharya, who is on leave from the Stern School of Business, New York, lives in Juhu-Vile Parle, a suburb of Mumbai because he wants to be able to spend time with his parents during his Mumbai assignment.

People in the know say that he too may take a call on whether or not to continue, if Patel chooses to quit.

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