RBI Governor Urjit Patel resigns: Here's how Twitterati reacted

Urjit Patel stepped down as RBI Governor on December 10 after serving the office for more than 28 months.

Citing personal reasons, Patel in a statement said: "On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honour to serve in the RBI in various capacities over the years."

The timing of the resignation is crucial. It comes four days ahead of the RBI’s scheduled board meeting on December 14, slated to discuss several contentious issues.

Acknowliging hard work done by Patel, Finance Minister Arun Jaitley on twitter wrote: "The Government acknowledges with deep sense of appreciation the services rendered by Dr. Urjit Patel to this country both in his capacity as the Governor and the Deputy Governor of The RBI. It was a pleasure for me to deal with him and benefit from his scholarship."

The Government acknowledges with deep sense of appreciation the services rendered by Dr. Urjit Patel to this country both in his capacity as the Governor and the Deputy Governor of The RBI. It was a pleasure for me to deal with him and benefit from his scholarship. (1/2)

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— Arun Jaitley (@arunjaitley) December 10, 2018

I wish Dr. Patel all the very best and many more years of public service. (2/2) — Arun Jaitley (@arunjaitley) December 10, 2018

Dr Urjit Patel is an economist of a very high calibre with a deep and insightful understanding of macro-economic issues. He steered the banking system from chaos to order and ensured discipline. Under his leadership, the RBI brought financial stability.

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— Narendra Modi (@narendramodi) December 10, 2018

Dr. Urjit Patel is a thorough professional with impeccable integrity. He has been in the Reserve Bank of India for about 6 years as Deputy Governor and Governor. He leaves behind a great legacy. We will miss him immensely. — Narendra Modi (@narendramodi) December 10, 2018

Another one bites the dust. This is the result of our 'chowkidar's' assault on democratic institutions - RBI Governor, Urjit Patel steps down. https://t.co/SFEih1WYZ9

— Congress (@INCIndia) December 10, 2018

JUST IN: Former RBI Governor Raghuram Rajan says "all Indians should be concerned about Governor Patel's resignation" pic.twitter.com/mySfIpgn3T — Reuters India (@ReutersIndia) December 10, 2018

I fully agree with Rajan.We should be very worried. I fear India headed into banana republic terrain. No one to stand in the government and its quack economists way to raid RBI reserves for pre-election spending. Another institution compromised #UrjitPatelhttps://t.co/yr6BK58Awz

— Rupa Subramanya (@rupasubramanya) December 10, 2018

#RBI Governor #UrjitPatel resignation gives me mixed emotions. There should always be healthy creative tension between RBI and government; but when it turns to destructive tension one of the parties have got to wilt. — Harsh Goenka (@hvgoenka) December 10, 2018

Resignation of RBI Governor Urjit Patel screams of INCOMPETENCE of the Finance Minister and INSECURITY of the Prime Minister. India must worry about this! Raghuram Rajan bells the cat @ETNOWlive#UrjitPatel#UrjitPatelresignshttps://t.co/4rbiq9OByj

— Ghanshyam Tiwari (@ghanshyamtiwari) December 10, 2018

Was it because the government was trying to override the RBI? Using a board based approach is actually more broadly followed abroad. This is fair, and I don't think Patel would think of that as overreach. — Deepak Shenoy (@deepakshenoy) December 10, 2018

Was it because Gurumurthy was appointed to the RBI board? It's strange to have such a person on the board, but I would want to believe Patel is above all of this.

— Deepak Shenoy (@deepakshenoy) December 10, 2018

It's unfortunately Patel had to resign. The things that are concerning is the lack of transparency in general, even perhaps in the resignation itself. — Deepak Shenoy (@deepakshenoy) December 10, 2018