# Urjit Patel: India's central bank governor resigns

> RBI Governor Urjit Patel resigned, citing personal reasons, amid reports of a rift between the central bank and Prime Minister Modi's government. It is rare for a governor to leave midway through a three-year term. Reuters and BBC correspondents said the move was likely to undermine confidence and push the rupee lower ahead of general elections due by May.

- Date: 2018-12-10 · published 2018-12-10T12:00:00.000Z
- Category: macro · region India · magnitude medium
- Page: https://feedsoft.ai/events/61854-urjit-patel-india-s-central-bank-governor-resigns
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Investor doubts about institutional independence raise the risk of capital flight and a weaker rupee, which increases the dollar cost of India's feed and other imports.

## Read by commodity

- USDINR: bullish ▲

## Sources

- bbc.com: https://www.bbc.com/news/world-asia-india-46506275

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.