Urjit Patel assumes charge as new RBI Governor

dynamitenews.com
Mumbai/ 5 September 2016. Urjit Patel has assumed charge as the 24th Governor of Reserve Bank of India, succeeding Raghuram Rajan whose three-year term ended yesterday.

Patel has assumed charge effective September 4, 2016, after serving as Deputy Governor since January 2013, RBI said in a statement today.

After the completion of his three-year term, Urjit was reappointed as Deputy Governor on January 11, 2016.

Among his assignments as Deputy Governor, Patel chaired the Expert Committee to Revise and Strengthen the Monetary Policy Framework.

"Representing India, he actively participated in steering the signing into force of the inter-governmental treaty and the Inter-Central Bank Agreement (ICBA) among the BRICS nations, which led to the establishment of the Contingent Reserve Arrangement (CRA), a swap line framework among the central banks of these countries," RBI said.

He was a Consultant to the Ministry of Finance from 1998 to 2001. He also had other assignments in public and private sectors, including with Reliance Industries, IDFC Ltd, MCX Ltd and Gujarat State Petroleum Corporation.

He has several publications in areas of Indian macroeconomics, monetary policy, public finance, financial sector, international trade, and regulatory economics, the RBI said.

Patel has a PhD in economics from Yale University, an M Phil from University of Oxford and a BSc from the University of London. (With PTI inputs)