Prince Harry, Meghan to step back as 'senior members' of royal family

Prince Harry and Meghan, the Duchess of Sussex, announced on Wednesday that they will "step back as 'senior' members of the royal family" and are planning to work towards becoming "financially independent".

"After many months of reflection and internal discussions, we have chosen to make a transition this year," the couple announced on Instagram, explaining that they hope to "carve out a progressive new role within this institution."

"We intend to step back as 'senior' members of the Royal Family and work to become financially independent while continuing to fully support Her Majesty The Queen," they said.

In the statement, the couple also talked about their time between the UK and North America.

"This geographic balance will enable us to raise our son with an appreciation for the royal tradition into which he was born, while also providing our family with the space to focus on the next chapter, including the launch of our new charitable entity," they wrote.

The couple who have a baby son named Archie stated that they look forward to sharing more details of the 'exciting next steps' in future.

"We look forward to sharing the full details of this exciting next step in due course, as we continue to collaborate with Her Majesty The Queen, The Prince of Wales, The Duke of Cambridge and all relevant parties. Until then, please accept our deepest thanks for your continued support."

( With inputs from ANI )