Nexus between Modi's election losses and central bank tussle

Indian Prime Minister Narendra Modi took two big blows in less than 24 hours. Investors should worry less about the bruises, and more about what he might do to recover from them before next year's general election.

The first knock came on Monday evening when besieged Reserve Bank of India (RBI) governor Urjit Patel abruptly resigned. Although he cited personal reasons, nobody is in any doubt that it was New Delhi's incessant harassment that led to the monetary chief's early exit.

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A version of this article appeared in the print edition of The Straits Times on December 13, 2018, with the headline 'Nexus between Modi's election losses and central bank tussle'. Print Edition | Subscribe