Opposition pads up to fight for RBI's autonomy after Urjit Patel's exit

Opposition leaders said Patel was forced to quit, and that it happened on the eve of the election results to five assembly states, was significant

In the aftermath of Reserve Bank of India (RBI) Governor Urjit Patel’s resignation, the Congress and other Opposition leaders agreed on Monday to launch a common fight, both in Parliament during the winter session and outside, to “defeat the Narendra Modi government’s designs to erode the institutional autonomy and credibility of the RBI”.

Senior opposition leaders said Patel’s resignation indicated that the Modi government had an eye on the RBI’s cash reserves, and that it planned to distribute that money, whether to waive off farm loans or deposit money in the over 300 million Jan Dhan accounts, in the run