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, according to an order issued by the Ministry of Personnel. The appointment was approved by the Appointments Committee of the Cabinet on August 28.
Patel, an economist of international repute, had earlier served with the IMF and brings extensive experience in both public policy and financial markets. He was RBI’s 24th Governor, taking charge on September 4, 2016. However, he resigned midway through his tenure on December 10, 2018, citing personal reasons—making him the first RBI Governor since 1990 to step down before completing a term.
Prior to becoming Governor, Patel served as RBI’s Deputy Governor. Earlier, between 1996 and 1997, he was deputed by the IMF to the central bank, where he advised on key reforms including debt markets, banking, pensions, and foreign exchange. He also worked as a consultant to the Ministry of Finance between 1998 and 2001 and has held various roles in both the public and private sectors.
His appointment to the IMF is seen as a recognition of his expertise in macroeconomics, financial reforms, and global monetary issues.
