Urjit Patel, former Governor of the Reserve Bank of India (RBI) and a key role in the historic decision like demonetisation, has now been given another big responsibility. The government has appointed him as Executive Director in the International Monetary Fund (IMF). This post was lying vacant for the last several months.

The appointment committee of the cabinet issued a notification and confirmed this. It said that Dr. Urjit Patel has been made Executive Director in IMF for a period of three years. However, if needed, this tenure can be more or less as per order.

Travel from former RBI Governor to IMF

Urjit Patel was the 24th Governor of the Reserve Bank of India. He took over on 4 September 2016 and remained in this post till December 2018. During his tenure, a big step of demonetisation was taken in the country, which had a profound impact on the Indian economy and the lives of common people. At that time, Urjit Patel’s working style and his silence was discussed several times, but he always maintained a restrained stand on his decisions.

Always topped in education and writing

Talking about the education of Urjit Patel, he did his graduation in Economics from London School of Economics. This was followed by M.Phil from Oxford University in 1986. Got the degree. Then he completed his PhD in 1990 from the prestigious Yale University in America (Economics).

Not only this, since 2009, he has also been associated with non-resident senior fellow at the Brookings Institution in Washington. Due to his studies and research, he got an opportunity to work in many important economic institutions of the world.

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Why this responsibility is special in IMF

The International Monetary Fund (IMF) is one of the most important financial institutions in the world, whose job is to give advice on the economic policies of the member countries and provide financial assistance to them if needed. The post of Executive Director in IMF is considered very important, because the person sitting on this post represents the interests of not only India but many other countries.
Urjit Patel will strengthen India’s voice even more on the global economic platform through this post.

After whom this responsibility was received

The post was lying vacant since Krishnamurthy Subramanian left. Subramanian had earlier been the Chief Economic Advisor to the Government of India. He had got a three -year term, but the government abolished his appointment six months in advance.

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Former RBI Governor Urjit Patel Appointed Imf Executive Director: Former RBI Governor Dr. Urjit Patel has been appointed as Executive Director of International Monetary Fund (IMF) for three years. The government has approved this appointment. Kenya -born Indian economist Urjit Patel will return there, from where he started his career about three decades ago.

He has also served for five years in the IMF. First worked at the headquarters at Washington DC and then in 1992, IMF Deputy Resident came to New Delhi as a representative. Dr. Patel was the Governor of the Reserve Bank of India from September 2016 to December 2018. During his tenure, demonetisation was implemented and many important steps were taken towards inflation control.

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