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Who is Dr Urjit Patel? Ex-RBI governor named IMF executive director; appointed for three-year term

Who is Dr Urjit Patel? Ex-RBI governor named IMF executive director; appointed for three-year term

TOI Business Desk / TIMESOFINDIA.COM / Aug 29, 2025, 10:16 IST

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Dr. Urjit Patel, former RBI governor, has been appointed as Executive Director at the International Monetary Fund for a three-year term. Patel, who resigned from his RBI governorship prematurely in December 2018, previously served at the IMF and has held various policy and consulting roles within the Indian government and private sector.

Who is Dr Urjit Patel? Ex-RBI governor named IMF executive director; appointed for three-year term

Urjit Patel appointed executive Director to IMF (File photo)

Former Reserve Bank of India (RBI) governor Dr Urjit Patel has been appointed as Executive Director of the International Monetary Fund (IMF) from India for a three-year term, according to a Personnel Ministry order. The appointment was cleared by the Appointments Committee of the Cabinet. Patel, who took charge as the 24th Governor of RBI in September 2016, had stepped down before completing his tenure in December 2018, citing personal reasons. He becomes the first RBI governor since 1990 to resign mid-term.Also read: Urjit Patel named IMF executive director; to serve three-year term

Who is Dr Urjit Patel?

Career in central banking: Served as RBI Governor (2016–2018) and as Deputy Governor prior to that.
Resignation: He became the first RBI chief in nearly three decades to resign before term completion.
IMF experience: Previously served at the IMF and was on deputation to RBI in 1996–97, advising on debt markets, banking and pension reforms.
Policy roles: Consultant to Finance Ministry (1998–2001), working on economic and financial sector reforms.
Government committees: Member of several high-level panels, including Kelkar Committee on Direct Taxes, civil and defence pension reforms group, PM’s Task Force on Infrastructure, Group of Ministers on Telecom, Civil Aviation Reforms panel, and Ministry of Power’s expert group on state electricity boards.
Public & private sector stints: Worked with Reliance Industries, IDFC Ltd, MCX Ltd and Gujarat State Petroleum Corporation.
Academic background: Holds a PhD in Economics from Yale University, an MPhil from Oxford, and a BSc from B. Sc. from the University of London, according to RBI website.

About the AuthorTOI Business Desk

The TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.

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