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Urjit Patel's resignation signals dangerous trend: AIBEA | ||||||||
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Although the All India Bank Employees Association (AIBEA) had earlier demanded RBI Governor Urjit Patel's resignation, his calling it quits on Monday has left the banking body shocked and disturbed and it has termed it a "dangerous trend". The resignation of RBI Governor Urjit Patel is quite shocking and disturbing. The reasons for his resignation are obvious and signals a dangerous trend that institutions like RBI are no longer independent," AIBEA General Secretary C.H. Venkatachalam said. In February, Venkatachalam demanded Patel's resignation owning up moral responsibility for the massive $1.8 billion Punjab National Bank scam/fraud allegedly committed by diamond retailer.
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