Union Finance Ministry notified that Urjit R. Patel, Reserve Bank of India (RBI) deputy governor, has been appointed as the new governor of Reserve Bank of India as Raghuram Rajan’s successor.
Urjit R. Patel is an Indian economist, consultant and banker, currently serving as Deputy Governor of the Reserve Bank of India (RBI). As Deputy Governor of RBI, he looks aftermonetary policy, economic policy research, statistics and information management, deposit insurance, communication and Right to Information. On 20 August 2016, he was named as the governor of RBI to succeed Raghuram Rajan when the latter’s term expires in September 2016.
Patel obtained his Bachelor’s in Economics from the London School of Economics, M. Phil. degree from Oxford University in 1986. He received his doctorate in Economics from Yale University in 1990. He was at IMF India desk during the 1991–94 transition periods. He was posted to IMF country mission in India 1992–95. He has also been a non-resident Senior Fellow at the Brookings Institution since 2009.
After obtaining his PhD, Dr. Patel joined the International Monetary Fund (IMF) in 1990 worked on the USA, India, Bahamas and Myanmar desks at IMF till 1995. Thereafter he went on deputation the IMF to the Reserve Bank of India, where he played an advisory role in the development of the debt market, banking sector reforms, pension fund reforms, targeting of real exchange rate.
After the two-year deputation with RBI, Patel became a Consultant to the Governmentof India in the Ministry of Finance, Department of Economic Affairs – a position he held from 1998 to 2001.
Between 2000 and 2004, Dr. Patel worked with several High Level Committees at bothCentral and State Government level, including Competition Commission, Task Force on Direct Taxes, Prime Minister’s Task Force on Infrastructure, Group of Ministers on Telecom Matters, Advisory Committee on Research Projects and Market Studies, Committee on Civil Aviation Reforms, Expert Group on State Electricity Boards and High Level Expert Group on Civil & Defence Services Pension System.
On 11 January 2013, Urjit Patel was appointed as Deputy Governor of RBI for a period of three years. He took over charge of the vital Monetary Policy Department, succeeding Subir Gokarn to the post.
On 20 August 2016, he was appointed as the governor of Reserve Bank Of India(RBI) succeeding Raghuram Rajan.
He served in various posts in various companies and legal bodies such as,
Advisor, Boston Consulting Group
President, Reliance Industries Limited– 2015
Executive Director, Infrastructure Development Finance Company(1997-2006)
Member, Integrated Energy Policy Committee, Government of India (2004-2006)
Non-Executive Director, Gujarat State Petroleum Corporation
Non-Executive Director, Multi Commodity Exchangeof India Limited
Deputy Governor, Reserve Bank of India.
Governor, Reserve Bank of India(From 4th September, 2016 )
Urjit R. Patel is an Indian economist, consultant and banker, currently serving as Deputy Governor of the Reserve Bank of India (RBI). As Deputy Governor of RBI, he looks aftermonetary policy, economic policy research, statistics and information management, deposit insurance, communication and Right to Information. On 20 August 2016, he was named as the governor of RBI to succeed Raghuram Rajan when the latter’s term expires in September 2016.
Patel obtained his Bachelor’s in Economics from the London School of Economics, M. Phil. degree from Oxford University in 1986. He received his doctorate in Economics from Yale University in 1990. He was at IMF India desk during the 1991–94 transition periods. He was posted to IMF country mission in India 1992–95. He has also been a non-resident Senior Fellow at the Brookings Institution since 2009.
After obtaining his PhD, Dr. Patel joined the International Monetary Fund (IMF) in 1990 worked on the USA, India, Bahamas and Myanmar desks at IMF till 1995. Thereafter he went on deputation the IMF to the Reserve Bank of India, where he played an advisory role in the development of the debt market, banking sector reforms, pension fund reforms, targeting of real exchange rate.
After the two-year deputation with RBI, Patel became a Consultant to the Governmentof India in the Ministry of Finance, Department of Economic Affairs – a position he held from 1998 to 2001.
Between 2000 and 2004, Dr. Patel worked with several High Level Committees at bothCentral and State Government level, including Competition Commission, Task Force on Direct Taxes, Prime Minister’s Task Force on Infrastructure, Group of Ministers on Telecom Matters, Advisory Committee on Research Projects and Market Studies, Committee on Civil Aviation Reforms, Expert Group on State Electricity Boards and High Level Expert Group on Civil & Defence Services Pension System.
On 11 January 2013, Urjit Patel was appointed as Deputy Governor of RBI for a period of three years. He took over charge of the vital Monetary Policy Department, succeeding Subir Gokarn to the post.
On 20 August 2016, he was appointed as the governor of Reserve Bank Of India(RBI) succeeding Raghuram Rajan.
He served in various posts in various companies and legal bodies such as,
Advisor, Boston Consulting Group
President, Reliance Industries Limited– 2015
Executive Director, Infrastructure Development Finance Company(1997-2006)
Member, Integrated Energy Policy Committee, Government of India (2004-2006)
Non-Executive Director, Gujarat State Petroleum Corporation
Non-Executive Director, Multi Commodity Exchangeof India Limited
Deputy Governor, Reserve Bank of India.
Governor, Reserve Bank of India(From 4th September, 2016 )
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