Urjit Patel\u2019s resignation: Next incumbent RBI Governor will have the task of restoring Central Bank\u2019s credibility, said former Central Bank Governor D Subbarao. The government should choose a candidate who can command respect from the market, he also told CNBC TV18. \u00a0Commenting on the next RBI Governor\u2019s credentials, he said, \u201ceven a non-PhD economist can do well as RBI Governor.\u201d Considering the maturity that the government holds, it will do serious introspection on RBI Governor Urjit Patel\u2019s resignation, said former Central Bank Governor D Subbarao. \u201c.. can\u2019t make a presumption that government won\u2019t introspect on Governor Patel\u2019s exit,\u201d he also told CNBC TV18 in an interview. Answering what may have triggered Urjit Patel\u2019s sudden decision to resign, he said there was a possibility of him resigning in realm of speculation for a while. \u201cPatel seems to have pushed beyond the level of comfort,\u201d he added. Also read: Share market LIVE Updates: Sensex slips into red, Nifty below 10,500 as state election results swing Sharing his views on the RBI Board, he said that the board needs to have independent participants with no vested interests. \u201cRBI Board not an appropriate forum for taking policy decisions and it should advise the Governor regarding policy issues,\u201d he added. Meanwhile, after days of speculation, Urjit Patel finally stepped down the post of Reserve Bank of India (RBI) Governor \u00a0on Monday. Urjit Patel, 55, who took over as the 24th Governor of the central bank on September 5, 2016, had the shortest tenure since 1992. \u00a0Interestingly, the next RBI board meeting was scheduled for December 14. In the past few months, both RBI and Modi government have been locking horns on issues ranging from interest rates to reserves.