‘Urjit Patel was telling me about resigning for months’, reveals PM Modi


New Delhi, Jan 1(DC): Urjit Patel stepped down as the Reserve Bank of India (RBI) Governor because of personal reasons and had been telling the Prime Minister for some time about his decision to resign, said Prime Minister Narendra Modi on Tuesday.

"I am revealing for the first time, he (Urjit Patel) was telling me about this for the past 6-7 months before his resignation. He gave it even in writing. He wrote to me personally," PM Modi said.

Patel resigned in December from his post citing "personal reasons" amidst reports of a rift between the RBI and the government. The Prime Minister, after Patel's resignation, tweeted that the RBI Governor left behind a "great legacy."

PM Modi further dispelled the opposition's criticism that Patel was made to leave.

"No such question arises. I acknowledge that Patel did a good job as RBI Governor," he added.

Stressing that institutions like CBI and judiciary are paramount to his government, the Prime Minister stressed that the opposition Congress party has no right to criticise the BJP by saying that the government weakened such institutions in the country.

"Congress has no right to speak on this issue. Against the PM and PMO, the NAC (National Advisory Council) was formed. What kind of empowerment of the PMO was this? Cabinet takes such a big decision and a big leader tears that Cabinet decision at a press conference. What kind of respect is for an institution?” questioned PM Modi.

"Coming to judiciary, they openly said that we will decide judiciary on the basis of ideology and senior judges were shown the door and junior judges were promoted. And you are talking about institutions? In the same RBI, several times governors were forced to leave before their term expired. You called Planning Commission people a bunch of jokers," the Prime Minister added.

PM Modi cleared the air over the government removing the two men at the top of CBI.

In October, CBI Director Alok Verma and his deputy Rakesh Asthana, were relieved of their duties pending an inquiry, after each accused the other of corruption, following which the government sent them on leave, calling it an "extraordinary and unprecedented" situation.

"When CBI internal personal matter came to light, they were both asked to go on leave legally. Because institution is paramount for us," stressed the Prime Minister.

Opposition parties, especially the Congress, have in recent times, criticised the BJP-led Narendra Modi government of misusing the Enforcement Directorate for political vendetta, often dubbing it as Embarrassment Directorate. Prime Minister Narendra Modi, however, allayed the criticism.

"How are these people saying this? Recently, Sohrabuddin judgement came. Just read that judgement. See how institutions were misused. Accusations on us is that Modi is not taking action against these people. And you are saying this is vendetta. ED is doing is job professionally. From a foreign country, a razdaar (confidante) has been brought in custody of India. Should not every Indian be proud of it?", said the Prime Minister, while referring to Christian Michel, the alleged middleman in the Rs 3,600-crore AgustaWestland VVIP chopper deal.

Michel, a UK citizen, was extradited to India from the UAE last month in connection with the case and was respresented by lawyer Aljo K Joseph, who happened to be a Congress party leader but was shunted after controversy over his affiliation erupted.

"If a Congress worker turns up to be Christian Michel's lawyer, then it is a cause for worry. The countrymen should be proud that razdaar has come, now there will be proper inquiry under legal scrutiny and the truth will come out. Instead of that, you are sending lawyers from your party to support him Michel. This is a matter of concern," the Prime Minister added.

  

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Comment on this article

  • SMR, Karkala

    Tue, Jan 01 2019

    The outgoing RBI Urjit Patel is forced to resign for not bowing to the terms of Rashtriya Swayamsevak Sangh economic wing Swadeshi Jagaran Manch which want part of its treasury for the 'Aache Din' of 2019. After CBI, it is RBI: the serial killing of institutions is much expected.
    In conversation with news agency Reuters, Ashwini Mahajan, National Co-Convenor of the Manch, clearly said, "The Reserve Bank should give a large portion of its cash reserve of 3 lakh 70 thousand crore rupees to the government so that this money could be used to drive the wheel of economic growth." Sources say that S Gurumurthy is behind this idea of using the RBI money. S Gurumurthy has been associated with the Swadeshi Jagran Manch and a few months ago, he had been appointed as the non-executive director of the RBI board by the government.
    Both the CBI and the RBI are victims of an autocratic style of functioning wherein an individual’s word carries more weight than an institution’s wisdom.
    Amidst election losses, Modi govt appoints DeMo supporter Shaktikanta Das as new RBI Governor.
    "The New RBI Governor Das's educational qualification is MA (History). Hope and Pray he doesn't make RBI also a History. May God Bless the New Arrival!! (sic),".
    But BJP's Rajya Sabha member Subramanian Swami who is responsible for removing then RBI Governor Raghuram Rajan these days only speaks 'Ram Mandir'.
    1. Is PM Modi hoping to utilise a substantial part of the RBI’s reserves for some generous sops in an election year to save his fast-dissipating credibility?
    2. Is the new RBI Governor PM Modi’s cash cow for 2019 General Elections?

    Jai Hind

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  • mahesh, mangalore

    Tue, Jan 01 2019

    There goes the conspiracy theory the sikulars have been talking about -out of the window.
    Find some other issues now.

    DisAgree [1] Agree Reply Report Abuse

  • Jenifer, Mangalore

    Tue, Jan 01 2019

    Urjit Patel is the only RBI Governor to have resigned before his term ended. Weren't his personal problems existing just before two years ? You did not release Parrikar despite suffering from such an acute ailment, how come you let go the RBI Governor so easily ?

    How come a person of such a stature could not differentiate between personal and professional life before accepting the post ? And, how come the department did not investigate about his background before appointing him ?

    DisAgree Agree [11] Reply Report Abuse

  • j.anata, Mangaluru / Bengaluru

    Tue, Jan 01 2019

    Actually need to correct you here. Patel was NOT the only Governor to leave before term. There were several notable others too. Google can help

    DisAgree [8] Agree [2] Reply Report Abuse

  • Vijay, Derebail mlre

    Tue, Jan 01 2019

    J anata
    Mirchi lagi.. Modi karega tho chamtkaar... Xxx Kare tho bhlathkaar
    Kya baath Hay bhaktas... Non stop jumlaa nd fake jokes

    DisAgree [2] Agree [5] Reply Report Abuse

  • Swamy, Mangalore

    Tue, Jan 01 2019

    "Personal Reason" is personal issues related to the govt. In an interview Urjit Patel cited health reasons for his resignation. If he was telling Modi that he is going to resign on health issues then why Modi did not let go Parrikar as CM who is suffering advance stage of cancer and forcibly made to pose for the camera carried off his sick bed with all his life support and medical personnel around him to further add to his torture and agony he is already going through. How capable and efficiency is he to function as CM.???. Personal issues of a person who was hand picked by Modi can be solved in varieties of ways but by not making him a scape goat and pushing him outside the door.

    DisAgree [2] Agree [4] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Tue, Jan 01 2019

    In November 2018 he has hinted that he was contemplating quitting because he was fully fed up ...

    DisAgree [2] Agree [11] Reply Report Abuse


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