Former Reserve Bank of India (RBI) Governor Urjit Patel has been appointed as the Executive Director of the International Monetary Fund (IMF). This has been said in the order of the Ministry of Staff. According to PTI news, Patel took over as the 24th Governor of RBI on 4 September 2016. However, citing personal reasons, he resigned without fulfilling his term. His term ended on 10 December 2018, which was the next day of his resignation.
Will handle the post for three years
According to the news, the appointment committee of the cabinet has approved the appointment of Economist and former RBI Governor Urjit Patel to the post of Executive Director of IMF for a period of three years. This appointment order was issued on 28 August. Urjit Patel is the first central bank governor after 1990 to decide to step down during his tenure. Patel has been working earlier in the IMF. He has also been the Deputy Governor of RBI and has served in the central bank on the IMF during 1996–1997.
Letter issued regarding the appointment of Urjit Patel.
At that time, he gave important advice in the development, banking reforms, pension fund reforms and development of foreign exchange market. Apart from this, he has also been an advisor to the Ministry of Finance (Department of Economic Affairs) from 1998 to 2001. He has successfully carried out many important responsibilities in public and private sectors.
Urjit Patel has a long experience
Born in 1963, Patel also served as an advisor in the Ministry of Finance from 1998 to 2001. He also took several charge in public and private sectors, including Reliance Industries, IDFC Limited, MCX Limited and Gujarat State Petroleum Corporation. Patel graduated in Economics from London School of Economics and M.Phil from Oxford University in 1986. Has received the title of. He received his PhD in Economics from Yale University in 1990. Subsequently, he joined the IMF and served there from 1990 to 1995, covering the desks of the US, India, Bahamas and Myanmar.
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