Former RBI Governor Urjit Patel appointed IMF Executive Director for 3-yr term
New Delhi: Former Reserve Bank of India Governor Urjit Patel has been named Executive Director at the International Monetary Fund (IMF) for a three-year tenure, the government announced on Thursday.
He succeeds K. Subramanian and will represent India along with Bangladesh, Bhutan, and Sri Lanka at the Washington-based institution.
The appointment brings Patel back to the IMF, where his career began more than three decades ago.
In the early 1990s, he worked on India’s desk, handling fiscal policy and structural reforms during a crucial phase of economic liberalisation.
Patel studied economics at the London School of Economics, followed by an M.Phil. at Oxford University and a Ph.D. at Yale University.
His career since has spanned academia, policymaking, and financial institutions.
He has held senior roles at Reliance Industries and the Infrastructure Development Finance Company (IDFC), served as Vice President for Investment Operations at the Asian Infrastructure Investment Bank (AIIB), chaired the National Institute of Public Finance and Policy, and been a senior fellow at the Brookings Institution.
In September 2016, Patel was appointed as the 24th Governor of the RBI, succeeding Raghuram Rajan, a position he held until his resignation in December 2018.
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