Although the All India Bank Employees' Association (AIBEA) had earlier demanded RBI Governor Urjit Patel's resignation, his calling it quits on Monday has left the banking body shocked and disturbed and it has termed it a "dangerous trend".

"The resignation of RBI Governor Urjit Patel is quite shocking and disturbing. The reasons for his resignation are obvious and signals a dangerous trend that institutions like RBI are no longer independent," AIBEA General Secretary C.H. Venkatachalam said.