Former Governor of Reserve Bank of India (RBI), Urjit Patel, has been appointed Executive Director at the International Monetary Fund (IMF), government said in a statement on Friday.
Former Governor of Reserve Bank of India (RBI), Urjit Patel, has been appointed Executive Director at the International Monetary Fund (IMF), government said in a statement on Friday.
The Appointments Committee of the Union Cabinet has approved the appointment, and Patel will serve a three-year term from the date he assumes charge, or until further orders, whichever is earlier.
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Notably, Patel had resigned from the post of RBI governor in 2018 citing personal reasons. He took over as the chairman of National Institute of Public Finance and Policy (NIPFP) in 2020, and earlier held the post of vice president for investment operations in South Asia at the Beijing-based Asian Infrastructure Investment Bank as well.
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Urjit Patel’s announcement as ED at IMF comes almost four months after former chief economic adviser (CEA) Krishnamurthy V Subramanian’s term was cut short at the Bretton Woods institution and he was recalled by the government.
Urjit Patel was born in Nairobi, Kenya, on October 28, 1963 with family roots in Gujarat. He studied economics at the London School of Economics, and earned an MPhil from Oxford University in 1986, and completed his PhD in economics from Yale University in 1990.
He was associated with the IMF earlier too as in between 1992 and 1995, he was part of the IMF’s India desk. After completing his doctorate in economics from Yale University in 1990, he joined the IMF.
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