Former RBI Governor Urjit Patel appointed Executive Director of IMF
Urjit Patel assumed charge as the 24th Governor of the RBI in 2016, prior to which he had served as the Deputy Governor since 2013.
- Aug 29, 2025,
- Updated Aug 29, 2025 9:56 AM IST
Former RBI Governor Urjit Patel has been appointed the Executive Director of the International Monetary Fund (IMF) for a period of three years.
“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 from the date of assumption of charge of the post, or until further orders, whichever is earlier,” stated the notification issued by the government on Friday.
This is not Patel’s first appointment to the IMF. He was on deputation from IMF to RBI during 1996-97, during which he advised on the development of the debt market, banking sector reforms, pension fund reforms and evolution of the foreign exchange market.
Patel assumed charge as the 24th Governor of the RBI in 2016, prior to which he had served as the Deputy Governor since 2013. He had succeeded Raghuram Rajan to hold the role and served till 2018, after which Shaktikanta Das took over the role.
His tenure as the RBI chief was marked by significant policy measures, including the implementation of the inflation-targeting framework. It was shortly after he assumed charge in September that demonetisation was implemented. He also oversaw the management of the aftermath of the controversial demonetisation.
Dr. Patel has a PhD in Economics from Yale University, an MPhil from University of Oxford and a BSc from the University of London.
Former RBI Governor Urjit Patel has been appointed the Executive Director of the International Monetary Fund (IMF) for a period of three years.
“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 from the date of assumption of charge of the post, or until further orders, whichever is earlier,” stated the notification issued by the government on Friday.
This is not Patel’s first appointment to the IMF. He was on deputation from IMF to RBI during 1996-97, during which he advised on the development of the debt market, banking sector reforms, pension fund reforms and evolution of the foreign exchange market.
Patel assumed charge as the 24th Governor of the RBI in 2016, prior to which he had served as the Deputy Governor since 2013. He had succeeded Raghuram Rajan to hold the role and served till 2018, after which Shaktikanta Das took over the role.
His tenure as the RBI chief was marked by significant policy measures, including the implementation of the inflation-targeting framework. It was shortly after he assumed charge in September that demonetisation was implemented. He also oversaw the management of the aftermath of the controversial demonetisation.
Dr. Patel has a PhD in Economics from Yale University, an MPhil from University of Oxford and a BSc from the University of London.