Mr. Urjit Patel - New governor of Reserve Bank of India
Posted on: 21/Aug/2016 8:35:08 PM
Mr. Urjit Patel, currently the Deputy Governor of the Reserve Bank of India, has been appointed as the next governor of the Reserve Bank of India.He will assume office on 4th September.
In a trend of promoting the Deputy governors of RBI as governor, this is the 8th time.
The tenure of the present governor of RBI comes to an end on 4th September.
Meanwhile, BJP senior leader Subramanian Swamy criticised Mr. Raghuram Rajan for failing to decrease the short-term interest ratio to facilitate small scale enterprises. Mr. Raghuram Rajan indicated his disinterest to continue in the post.
Following there were conjectures that Chief Economic Adviser Arvind Subramanian, Nidhi Aayog Vice-president Arvind Panagariya, Former deputy governor of RBI Rakesh Mohan, The Chairman of the State Bank of India Arundhati Bhattacharya and the Secretary of the Economic Affairs Shaqkthikantha Das were all in contention to be appointed as the next governor of RBI.
The names of the current deputy governor of RBI Urjit Patel and the former Deputy Governor Kabir Gokarn were also included among the names of candidates.
Finally, the central government has appointed Mr. Urjit Patel as the next (24th) governor of the Reserve Bank of India on Saturday, 19th August. Earlier, Mr. Urjit Patel was appointed as Deputy Governor of RBI in January 2013 for a period of 3 years. His tenure was extended later to last January.
Before his appointment as Deputy Governor of RBI, Urjit Patel was a consultant in the Boston Consulting Group (Energy and infrastructure). He has also worked in the Reliance Industries Group.
Urjit Patel was born on 28th October 1963. He received a Doctorate in Economics from Yale University in 1990. He got M. Phil. Degree from Oxford University in 1986.
Urjit Patel worked as a committee member dealing with the affairs of countries India, America, Bahamas and Myanmar in the International Monetary Fund from 1990 to 1995.
Mr. Urjit Patel worked in various central and state government departments such as the Department of Direct Taxes, Ministry of Finance, Prime Minister’s council for infrastructure and cabinet Ministers` committee for telecommunications, etc.
As Deputy Governor of the Reserve Bank of India,Urjit Patel heads the committee deciding the financial policies. He is identified as the leaders deciding the inflation control policies of the Reserve Bank of India.
