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RBI Governor Wanted To Quit Months Before Resignation: PM Modi

Former head of India’s central bank, Urjit Patel had personally written to prime minister Narendra Modi about his intention to quit as Reserve Bank of India (RBI) governor before stepping down in December 2018, prime minister Modi said in an interview with ANI on Tuesday (1).

“The governor himself requested (to resign) because of personal reasons. I am revealing for the first time, he was telling me about this for the past six-seven months before his resignation. He gave it even in writing. He wrote to me personally,” Indian prime minister told ANI.


“No such question arises. I acknowledge that Patel did a good job as RBI Governor,” Indian prime minister said answering to a question.

“Mr Urjit Patel has done great work as the RBI Governor: PM,” Modi said in a series of tweets on Tuesday.

Central bank governor left his office after months-long impasse over policy issues with the Modi led government. According to the media reports, Modi challenged the functioning of the country’s central bank in the months-long deadlock.

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The government's "fair funding review 2.0," expected on December (17) will determine how funding is allocated

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England and Wales councils warn of bankruptcy as funding reaches 'breaking point'

Highlights

  • 29 councils already unable to meet financial obligations without emergency government loans.
  • London boroughs face £1bn shortfall this year, with half potentially requiring bailouts by 2028.
  • Government's "fair funding review 2.0" expected December (17) will determine council allocations.

Local authorities across England and Wales have warned their finances are at "breaking point," with more councils expected to declare bankruptcy as they await crucial government funding announcements this month.

Council leaders anticipate changes to annual funding arrangements will result in steep cuts for many authorities, preventing them from balancing budgets and providing basic services to residents.

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