In an extra-ordinary move and which is reportedly a first-of-its-kind in independent India, Reserve Bank of India Governor Urjit Patel quit citing ‘personal reasons’, thus becoming the first-ever Governor to resign from his post much before the completion of his stipulted tenure.

Resentment was brewing between Patel (who was earlier the deputy of former Governor Raghuram Rajan) and the BJP-led Centre on various issues, and Patel’s quitting his post nine months before his tenure is to end is seen by observers and media as a natual corollary to the uneasy and strined relatinship the Bank has been having with the Centre and the Arun Jaitley-led Ministry of Finance.

Jaitley had gone on record many a time in the past criticizing RBI using harsh language. RBI and Centre clashed on plenty of occasions on the loans dished out by the Bank, whose job is to primarily control the monetary policy of the Indian rupee. It appeared recently that the Govt. had struck truce with Patel and his quitting owing to ‘personal reasons’ has shocked his own staff members besides the banking industry.

Urjit Patel took over as RBI’s 24th Governor during September, 2016 after the Centre chose not to extend the term of his boss and predecessor Raghuram Rajan. As such, Patel’s tenure is to end only in September next year. Commenting on his former deputy’s quitting as RBI Governor, Rajan has opined that the resignation points out to the ‘constant struggle’ and the tug-of-war between the RBI and the Centre.

“Patel quitting his job is a worrying thing indeed; any Govt. employee quitting his post is obviously as a result of internal struggle. Such decisions are taken only when the concerned person is pushed to the corner and a point of no return. It is imperative for the Centre to maintain cordial relationship with the RBI. Reasons which forced Patel to quit are to be found out. I only feel that Patel has rebelled against the system,” said Rajan in support of his former deputy.