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August 22, 2016

Urjit Patel - New Governor of RBI (Reserve Bank of India)

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The government of India on Saturday appointed Urjit Patel (52) as the next Governor of the Reserve Bank of India (RBI). He is a PhD (economics) from Yale University (1990) and MPhil from Oxford (1986). He has been a non-resident Senior Fellow, The Brookings Institution since 2009.

He is currently one of the four Deputy governors at the RBI. First appointed on 11 January 2013 as a deputy governor to replace Subir Gokarn, he was reappointed in January 2016 for another three years. Before his appointment as Deputy Governor of RBI in 2013, he was an advisor on energy and infrastructure at The Boston Consulting Group.

He has run the central bank's monetary policy department since 2013 and has worked closely with the Raghuram Rajan during his stint at the central bank.

He is going to replace the current governor Raghuram Rajan. He will take over from Rajan on 4th September 2016

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