Urjit Patel appointed executive Director to IMF (File photo)
Former Reserve Bank of India (RBI) governor Dr Urjit Patel has been appointed as Executive Director of the International Monetary Fund (IMF) from India for a three-year term, according to a Personnel Ministry order. The appointment was cleared by the Appointments Committee of the Cabinet. Patel, who took charge as the 24th Governor of RBI in September 2016, had stepped down before completing his tenure in December 2018, citing personal reasons. He becomes the first RBI governor since 1990 to resign mid-term.Also read: Urjit Patel named IMF executive director; to serve three-year term
Who is Dr Urjit Patel?
- Career in central banking: Served as RBI Governor (2016–2018) and as Deputy Governor prior to that.
- Resignation: He became the first RBI chief in nearly three decades to resign before term completion.
- IMF experience: Previously served at the IMF and was on deputation to RBI in 1996–97, advising on debt markets, banking and pension reforms.
- Policy roles: Consultant to Finance Ministry (1998–2001), working on economic and financial sector reforms.
- Government committees: Member of several high-level panels, including Kelkar Committee on Direct Taxes, civil and defence pension reforms group, PM’s Task Force on Infrastructure, Group of Ministers on Telecom, Civil Aviation Reforms panel, and Ministry of Power’s expert group on state electricity boards.
- Public & private sector stints: Worked with Reliance Industries, IDFC Ltd, MCX Ltd and Gujarat State Petroleum Corporation.
- Academic background: Holds a PhD in Economics from Yale University, an MPhil from Oxford, and a BSc from B. Sc. from the University of London, according to RBI website.
