India’s central bank governor has resigned from the role, citing “personal reasons”.
Urjit Patel’s resignation comes amid reports of a rift between Prime Minister Narendra Modi's government and the Reserve Bank of India (RBI).
It is believed the move is likely to undermine confidence in the economy and could cause the rupee to fall.
Over the past few weeks it has been reported that the government has been putting pressure on the RBI, appearing to undermine the institution’s independence.
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