Swaraj India’s Yogendra Yadav demands resignation of Urjit Patel for "sacrificing autonomy" of RBI

NEW DELHI: Swaraj India president Yogendra Yadav today demanded resignation of RBI Governor Urjit Patel accusing him of "sacrificing autonomy" and "eroding public confidence" in the Central Bank.

Yadav had yesterday criticised the Centre and the Reserve Bank of India over notification stating individuals can deposit over Rs 5,000 in old currency bills only once until December 30 and that too after explaining why they have not done so far.

After banning 500 and 1,000 rupee notes on November 8, the government had initially allowed people to deposit the scrapped notes in bank accounts till December 30 and there was no limit to the amount that could be deposited.


While depositing money in his account, Yadav told the bank he "believed" Prime Minister Narendra Modi, Finance Minister Arun Jaitley and the RBI that demonitised notes could deposited till December 30.

"Swaraj India demands resignation of RBI governor for sacrificing autonomy & eroding public confidence in this sacred institution(sic)," Yadav tweeted.

His comments come at a time when RBI, which came under attack for its decision, did a U-turn by making it clear there will be no questions asked either in case of one-time or repeat deposits if the accounts are KYC-compliant.