Reacting to RBI governor's resignation, Prime Minister Narendra Modi on Monday described Urjit Patel as a thorough professional with impeccable integrity and said he steered banking system from chaos.

"Urjit Patel is an economist of a very high calibre with a deep and insightful understanding of macro-economic issues. He steered the banking system from chaos to order and ensured discipline. Under his leadership, the RBI brought financial stability," Modi said.

Dr Urjit Patel is an economist of a very high calibre with a deep and insightful understanding of macro-economic issues. He steered the banking system from chaos to order and ensured discipline. Under his leadership, the RBI brought financial stability.

— Narendra Modi (@narendramodi) December 10, 2018

Patel on Monday resigned from his post on account of personal reasons, with immediate effect.

Union finance minister Arun Jaitley on Monday appreciated Urjit Patel's service to country both in his capacity as the governor and the deputy governor of The RBI.

"The government acknowledges with a deep sense of appreciation the services rendered by Urjit Patel to this country both in his capacity as the Governor and the Deputy Governor of The RBI. It was a pleasure for me to deal with him and benefit from his scholarship," Jaitley said in a tweet.

The Government acknowledges with deep sense of appreciation the services rendered by Dr. Urjit Patel to this country both in his capacity as the Governor and the Deputy Governor of The RBI. It was a pleasure for me to deal with him and benefit from his scholarship. (1/2)

— Arun Jaitley (@arunjaitley) December 10, 2018

"I wish Patel all the very best and many more years of public service," Jaitley said.

"Surprised at the news that RBI governor has resigned. The previous meeting was held in such cordial atmosphere that it comes as a shock," said RBI board member S Gurumurthy.

All directors said media had created a wrong perception while inside it was totally different and that makes it even more surprising, he said.

"I enjoyed several hours of personal discussions with him where we found large areas of agreement as well as mutually understandable disagreement. His resignation is indeed set back to the effects of the convergence of views that was taking place. We will miss him," Gurmurthy added.

First Published:Dec 10, 2018 6:21 PM IST