Urjit Patel’s term as the head of the Reserve Bank of India would surely be reckoned as one of the most tumultuous time. Demonetisation was thrust upon him almost immediately after he took over the reins, while, some of the worst board members of the Reserve Bank were foisted upon to breathe down his neck. Without them around, the governor might not have left peremptorily.
The reported squabble over Reserve Bank’s accumulated “Kuber’s wealth” and government’s claim to a part of it is neither here nor there. The money belongs to the country, and not definitely to the RBI because it has been carefully stacked away by RBI over the years. At the same time, one particularly government has no right to fritter away the resources.