Breaking News: RBI Governor Resigns, SGX Nifty falls 150 points

10 December 2018 (5:36 pm IST)

Breaking News: RBI Governor Urjit Patel has resigned “effective immediately”, SGX Nifty has fallen -150 points and rupee has also tumbled on this negative news.

Indian stock markets have just received a jolt after the closing of day’s session. The Reserve Bank of Indian governor, Urjit Patel has resigned “with immediate effect”. There has been open conflict on policy matters between the Indian central bank and the Indian government recently and at one time, rumors were rife that the RBI Governor will resign instead of giving into the government’s pressure.

SGX Nifty, futures index of NSE Nifty, has fallen by more than -150 points after the news broke. Indian rupee has also fallen against dollar and is now heading towards 72. Both these factors will have highly negative affect on Indian stock markets tomorrow, especially on Bank nifty.

Indian stock markets were already worried about  assembly elections results from 5 important States and now this jolt could keep these markets extremely volatile tomorrow.

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