Skip to content
Search

Latest Stories

RBI Governor Wanted To Quit Months Before Resignation: PM Modi

Former head of India’s central bank, Urjit Patel had personally written to prime minister Narendra Modi about his intention to quit as Reserve Bank of India (RBI) governor before stepping down in December 2018, prime minister Modi said in an interview with ANI on Tuesday (1).

“The governor himself requested (to resign) because of personal reasons. I am revealing for the first time, he was telling me about this for the past six-seven months before his resignation. He gave it even in writing. He wrote to me personally,” Indian prime minister told ANI.


“No such question arises. I acknowledge that Patel did a good job as RBI Governor,” Indian prime minister said answering to a question.

“Mr Urjit Patel has done great work as the RBI Governor: PM,” Modi said in a series of tweets on Tuesday.

Central bank governor left his office after months-long impasse over policy issues with the Modi led government. According to the media reports, Modi challenged the functioning of the country’s central bank in the months-long deadlock.

More For You

IndiGo crisis

The crisis represents the gravest challenge in IndiGo's 20-year history.

Getty Images

India imposes airfare caps as IndiGo crisis cancels 385 flights

Highlights

  • Airline admits inadequate planning for new pilot duty regulations.
  • Maximum fares now set at $83 for short routes, $167 for medium distances.
  • Safety concerns raised over regulatory exemptions granted to IndiGo.

The Indian government imposed airfare caps on Saturday following widespread travel chaos caused by IndiGo's cancellation of 385 flights in a single day, leaving hundreds of passengers stranded at Bengaluru and Mumbai airports.

India's dominant carrier, which controls over 60 per cent of the domestic market, has grounded thousands of flights this week after acknowledging it failed to prepare adequately for new pilot duty regulations that came into force on November (1).

Keep ReadingShow less