RBI’s Deputy Governor K C Chakrabarty quit from his position, 3 months before his end of term. RBI is now in a spot to find his replacement. The reasons for Chakrabarty’s exit have not been disclosed. Many speculate that the reason for Chakrabarty’s exit was because of a fallout with the Finance Ministry over the distressed position of the United Bank of India.
Read the Times of India news report here.