New Delhi (CNN Business) The Reserve Bank of India has lost its second chief in less than three years, raising questions about the central bank's independence and the management of the economy going into an election year. Governor Urjit Patel announced Monday that he was stepping down from his post, effective immediately. "On account of personal reasons, I have decided to step down from my current position," Patel said in a statement. "It has been my privilege and honor to serve in the Reserve Bank of India." The surprise resignation comes just weeks after senior RBI officials warned the government of Prime Minister Narendra Modi against threatening the central bank's autonomy.

Source: CNN December 10, 2018 12:16 UTC