Former RBI governor Urjit Patel to be new IMF Executive Director
The notification says the appointment is 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
A notification by the Appointment Committee of the Cabinet says that the union government has appointed former Reserve Bank of India governor Urjit Patel as the new Executive Director of the International Monetary Fund (IMF).
The notification says Urjit Patel’s term will be for a period of 3 years from the time he assumes the post. He is a replacement for KV Subramanian, whose term at the IMF was cut short earlier this year.
24th RBI Governor
Patel served as the 24th governor of the Reserve Bank of India.
Prior to his appointment as the governor of the central bank, he was the deputy governor responsible for monetary policy. Patel was principal / deputy in the G-20 and BRICS Finance Ministers' and Central Bank Governors' groups.
Patel has been a non-resident senior fellow of Brookings Institution, and a consultant to India's Finance Ministry.
Urjit Patel started his career as an economist with the IMF, and then worked with Infrastructure Development Finance Company (IDFC) and Reliance Industries.