New Delhi: Former Reserve Bank of India (RBI) Governor Urjit Patel has been appointed as Executive Director at the International Monetary Fund (IMF) for a three-year term. The appointment has been approved by the Appointments Committee of the Cabinet, according to an official order issued by the Ministry of Personnel on August 28.
Patel, an economist of repute, served as the 24th Governor of RBI from September 2016 until his resignation in December 2018, citing personal reasons. He was the first RBI Governor since 1990 to step down before completing his tenure.
This will not be Patel’s first stint at the IMF. Earlier, he was on deputation from the Fund to the RBI during 1996–1997, where he advised on banking sector reforms, debt market development, pension fund reforms, and the evolution of the foreign exchange market.
He also served as a Deputy Governor at RBI and worked as a consultant with the Ministry of Finance (Department of Economic Affairs) between 1998 and 2001. Over the years, Patel has held several assignments across the public and private sectors, contributing significantly to India’s financial and economic policymaking.
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