Economics
Central Bank Chief's Sudden Exit Roils Nervous India Markets
- Rupee non-deliverable forwards decline, Nifty futures slide
- India market selloff to create buying opportunities: Ashmore
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This was already a volatile week for markets in India, with state elections set to offer a lens on next year’s national vote. Then came the central bank governor’s shock resignation.
Urjit Patel quit on Monday citing personal reasons, a decision that some investors took as a new fissure in the Reserve Bank of India’s relationship with Prime Minister Narendra Modi’s government.