New Delhi: Governor Urjit Patel of Reserve Bank of India (RBI) can resign on November 19 in the next meeting of the board. Online financial publication 'Moneylif' has said to the sources that if the conflict between the government and the RBI increases further, then the resignation can be rescheduled in the next board meeting. The conflict between the liberated and the government has had a bad effect on their health. The RBI governor has made a lot of efforts in the struggle.
According to sources, the report said that people living in contact with the RBI governor say that Urjit has made a lot of efforts to fight the government, which is affecting his health. According to the report, the government wants to put pressure on the demand of the resignation of the Urjit despite its demands.
The government and the RBI are pushing for many demands. These include transferring a large portion of the Central Bank Reserve Fund to the government and bringing liquidity in the market to keep the fiscal deficit under control.
The dispute between the government and the RBI came out open on October 26 in the Adi Shroff Memorial lecture at Mumbai's Deputy Governor, Viral Acharya. In his speech, Acharya said that the government, which does not respect the autonomy of the central bank, has to face the resentment of the late financial markets and the major financial difficulties are present.
Earlier RBI Governor Raghuram Rajan had warned against taking the central bank's emergency reserve without carefully analyzing the government on Tuesday. In an interview with a news channel, Rajan had said that the RBI board should not interfere in the operational decisions of the central bank and it would be difficult to issue instructions under Section 7 of the RBI Act.