New Delhi, December 10: Congress president Rahul Gandhi lauded Reserve Bank of India (RBI) Governor Urjit Patel's resignation, saying his decision to quit is part of his fight to save the institution's autonomy. The Gandhi scion said the entire nation should stand in solidarity with officials and bureaucrats who are attempting to preventing the Narendra Modi-led government from "usurping" the democratic institutions.

"RBI Governor is resigning because he’s protecting the institution of RBI. Taking away reserves from RBI to save your skin is an act against this nation. I’m very proud that people from all walks of life and institutions are standing up to it," Rahul Gandhi said. Who Will be the Next RBI Governor as Urjit Patel Resigns? Here are 3 Likely Contenders.

Patel's resignation came days after the rift between the RBI and the Finance Ministry escalated over sharing the central bank's corpus funds.

Leaders from the Opposition camp, including ex-finance minister P Chidambaram, had predicted the ouster of Patel when the rift came out in the open. "The RBI Governor will have two options left -- either to resign or accept the conditions imposed by the Centre," Chidambaram had claimed last month.

Gandhi, while addressing the reporters after Patel's resignation, said the Opposition parties in the country need to unite with the "single aim of defeating the BJP". He further added, "We must protect India's constitution and our institutions."

Senior BJP leader Subramanian Swamy, who has been critical of the Finance Ministry's performance over the last 4 years, said Patel's resignation is a major setback to the nation.

"His resignation will be bad for our economy, RBI and the government. He should at least stay till July, until the next government comes to power. PM should call him and find out the reason and dissuade him from leaving in larger public interest," Swamy added.

(The above story first appeared on LatestLY on Dec 10, 2018 08:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).