Dr Urjit Patel appointed as Executive Director at International Monetary Fund
The Appointments Committee of the Cabinet has approved the appointment of Dr. Urjit Patel, economist and former RBI governor, to the post of executive director (ED) at the International Monetary Fund.
New Delhi: The Appointments Committee of the Cabinet has approved the appointment of Dr. Urjit Patel, economist and former RBI governor, to the post of executive director (ED) at the International Monetary Fund.
The appointment has been made for a period of three years with effect from the date of assumption of charge of the post, or until further orders, whichever is earlier. Urjit Patel is a Kenyan-born Indian economist who formerly served as the 24th Governor of the Reserve Bank of India and also Deputy Governor of the RBI, looking after monetary policy, economic research, financial markets, statistics, and information management.
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Dr. Patel will Succeed K. Subramanian and will represent India, along with neighbouring countries including Bangladesh, Bhutan, and Sri Lanka, at the global helm of financial institution. After obtaining his Ph.D., Patel joined IMF in 1990, where he worked on the US, India, Bahamas and Myanmar desks till 1995. After that he went on deputation from the IMF to the Reserve Bank of India (RBI), where he played an advisory role in the development of the debt market, banking sector reforms, pension fund reforms, and targeting of real exchange data.
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