RBI Governor Urgit Patel may resign if the reports are to be believed. Urgit is related to Mukesh Ambani and there were reports that he earlier worked for the reliance group. Urgit was blamed and condemned left and right during the demonetisation and made responsible for the empty ATMs.
Now there are differences between the Finance Minister Arun Jaitley over the falling rupee value. Jaitely made the RBI and its policies for the decline in rupee value and taking this into account there are reports that Urgit the Governor may resign. Now the tensions and misunderstanding between the Government and the RBI have spilt into the public domain.
It was reported that the Governments wants to direct the RBI with suggestions for the stabilising the rupee value. The members of the financial stability and development council met the Finance Minister Jaitley on the strategies to improve the value of rupee. Patel and his deputy governors are supposed to meet Finance Minister today and would discuss various issues.
It has to be seen what would be the developments later.
