Former RBI Governor Urjit Patel is the Newly Appointed IMF Executive Director

Former RBI Governor Urjit Patel has been Appointed as the Executive Director of the international Monetary Fund. He was the Governor of Reserve of India from September 4, 2016 to December 11, 2018.

Urjit Patel is the New IMF Executive Director

• On 28th August, Former Governor of the Reserve Bank of India (RBI), Urjit Patel, had been appointed as the Executive Director of the International Monetary Fund(IMF) for three years, as per the order issued by the Personnel Ministry.
• “The Appointments Committee of the Cabinet has approved the appointment of Dr. Urjit Patel, Economist and Former RBI Governor, to the post of Executive Director (ED) at the International Monetary Fund, 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.”
• The Former Executive Director of IMF Krishnamurthy Subramanium was terminated six months before the completion of the Tenure. Subhramanium was removed from the post due to“alleged impropriety”. During the promotion of his book, He allegedly Broke certain protocols of IMF leading to the dismissal of the Former Executive Director of IMF Krishnamurthy Subramanium. He was the former chief economic advisor to the finance Ministry.
• The Position of Executive Director that had been lying empty since April 30, has been again assumed by Urjit Patel, who is well-versed in his field having worked as the Governor of Reserve Bank of India.

Read more from the Author: Acyuta Gopi, The Krishna Devotee and Musical Sensation Visits India, Spiritual Concert to kick off soon

Who is Urjit Patel? His achievements in the Field

• Urjit Patel was born on 28 October 1963 in Nairobi, Kenya to Gujarati parents Manjula and Ravindra Patel. His grandfather migrated to Kenya from Kheda and ran a business. Patel grew up in Kenya and completed his schooling.
• Urjit Patel went to London school of Economics and studied for a Bachelor of Science in 1984. He went to complete his M.Phil degree from the University of Oxford in 1986. In 1990, He received Ph.D. in economics from Yale University.
• He is an Indian Economist and Held Several Responsibilities. His relation with IMF is not new, he joined IMF in 1990 and sat on desks of US, India, Bahamas and Myanmar till 1995. Thereafter he worked with the Reserve Bank of India, where he worked as an advisor and focused on several Topics like Banking sector reforms and real exchange rate.
• In 2013, He was appointed as the Deputy Governor of RBI and On 20 August 2016, he was appointed as the governor of Reserve Bank Of India (RBI). He was the RBI Governor till 10 December 2018. He resigned before the completion of his tenure due to alleged mismatches in opinion between Indian Government and Him.