India
Arun Jaitley said that the government did not have any expectation of resignation from Urjit Patel
New Delhi: Finance minister Arun Jaitley on Tuesday said that the government never sought the resignation of Urjit Patel as Governor of the Reserve Bank of India over differences in handling liquidity stress in certain sectors.
Speaking at Agenda Aaj Tak, he said the government does not need a single penny from RBI's capital reserves during the current fiscal.
Responding to criticism over the surprise resignation of Patel as RBI Governor earlier this month, he said there were cordial discussions at the meeting of the RBI board over issues such as the appropriate size of reserves the central bank must hold.
“The government did not have any expectation of resignation from him,” Jaitley said, adding: “RBI is autonomous — there is no danger to RBI’s autonomy. Neither I nor the government is against that principle.”
After Patel's resignation, the government appointed former bureaucrat Shaktikanta Das as the Governor of RBI.
With PTI inputs
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