Government appoints former RBI Governor Urjit Patel as IMF executive director
Patel, who headed the RBI between 2016 and 2018, will represent India on the IMF’s Executive Board, which is responsible for overseeing the institution’s daily functioning and major policy decisions.
PTC News Desk: The Appointments Committee of the Cabinet (ACC) has cleared the appointment of former RBI Governor and economist Urjit Patel as Executive Director at the International Monetary Fund (IMF).
His tenure will be for three years from the date he assumes office, or until further orders.
“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,” a government notification dated August 28 said.
Patel, who headed the RBI between 2016 and 2018, will represent India on the IMF’s Executive Board, which is responsible for overseeing the institution’s daily functioning and major policy decisions. Notably, he was the first RBI Governor since 1990 to step down before completing his term.
This marks Patel’s second association with the IMF. In 1996–97, he was deputed from the IMF to the RBI, where he worked on developing the debt market, banking sector reforms, pension fund restructuring, and foreign exchange market evolution. He also served as a consultant to the Ministry of Finance’s Department of Economic Affairs between 1998 and 2001.