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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.

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Why is Tata Steel warning UK could become a dumping ground for cheap Asian steel?

  • Tata Steel UK says higher tariff-free steel import quotas could threaten British steelmaking and jobs.
  • The company fears cheap steel diverted from Asia could make UK production commercially unviable.
  • The warning comes after the UK increased tariff-free quotas for imports from India and Vietnam.

The UK's biggest steel producer has warned that changes to Britain's steel import rules could leave the country vulnerable to a surge of cheap steel imports, raising concerns about the future of domestic manufacturing and thousands of jobs.

Tata Steel UK said recent changes to tariff-free steel import quotas could allow larger volumes of steel from countries including India and Vietnam to enter the UK market, potentially undercutting British producers. The company warned that without stronger safeguards, the UK risks becoming a "dumping ground" for steel diverted from other markets.

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