There are reports that with the Government unhappy with him, the RBI Governor Urjit Patel may resign soon. This could happen in the next RBI Governors meeting. The meeting is scheduled for November 19.
It may be noted that Minister for Finance has made several remarks against the functioning and the deputy Governor has found fault with eh political interference or the Interference from Arun Jailtely.
RBI former Governor Raghuram Rajan has remarked that the RBI is like a seat belt it prevents the Government from running into accidents. While the Government feels that the RBI governors are not doing their job properly, the Governors are of the opinion that there was unnecessary tinkering from the point of Government and the Finance Minister.
Finally, all this has led to the resignation of the Governor who is related to Ambanis. The Government is also of the opinion that the RBI has in fact failed during the process of demonetization.
