Hyderabad, Dec 10 (UNI) All India Bank Employees

Association (AIBEA) tonight said the resignation of

Reserve Bank of India (RBI) Governor Dr Urjit Patel is

'quite shocking' and 'disturbing'.

AIBEA General Secretary Ch Venkatachalam told UNI

that 'the reasons for his resignation are obvious and

signals a dangerous trend that Institutions like RBI

are no longer independent'.

At a time when we need a more stronger and more

independent RBI, this vital institution is under

intimidation. It appears that the Union Government

is bent is upon weakening RBI to meet its political

needs of a pliable RBI, the top Union leader alleged.

In a surprise development, Dr Patel tendered his

resignation attributing 'personal reasons' on Monday.

UNI CS 2220