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Governor of RBI, Urjit Patel resigns from his post for personal reason

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Urjit Patel, Reserve Bank of India, RBI, RBI Governor, RBI Governor Urjit Patel, Apex Bank, Business news

New Delhi: The Reserve Bank of India (RBI) Governor Urjit Patel, who had a run in with the government over autonomy of the central bank, Monday resigned from his post.

 

Urjit Patel, Reserve Bank of India, RBI, RBI Governor, RBI Governor Urjit Patel, Apex Bank, Business news

 

Reserve Bank of India (RBI) Governor Urjit Patel on Monday resigned from his post with immediate effect, citing “personal reasons”.

In a brief statement, Patel said he has decided to step down with immediate effect.

 

RBI Governor Urjit Patel steps down from post with immediate effect:

 

“On account of personal reasons, I have decided to step down from my current position effective immediately,” he said in a brief statement released by the RBI.

 

Urjit Patel, Reserve Bank of India, RBI, RBI Governor, RBI Governor Urjit Patel, Apex Bank, Business news

 

He, however, did not specify the reason for the decision.

Patel was appointed the 24th Governor of the RBI on September, 2016 for a three-year term.

 

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Sensex falls over 500 points after touching fresh high, Nifty below 13K

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The Indian equity indices slumped from the record highs on Wednesday afternoon.

The BSE Sensex declined over 500 points to fall below the psychological mark of 44,000 and the Nifty50 dropped below 13,000.

 

The across-the-board selling was led by banking, finance, IT, telecom and capital goods stocks.

Around 2.40 p.m., Sensex was at 43,948.26, lower by 574.76 points or 1.29 per cent from the previous close of 44,523.02.

Earlier in the day it had touched an all-time high of 44,825.37 points. It had opened at 44,749.73 and has so far touched an intra-day low of 43,845.86 points.

The Nifty50 on the National Stock Exchange was had hit an all-time high of 13,145.85, is currently trading at 12,900.40, lower by 154.75 points or 1.19 per cent from its previous close.

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