Dr. Urjit R Patel has been appointed as the New Governor
of Reserve Bank of India (RBI) for a period of three years with effect from 4th
September, 2016. He will replace the present RBI Governor Dr. Raghuram Rajan.
Dr Patel is presently the Deputy Governor of RBI and is holding this assignment
since 2013.
Patel's academic credentials can't be challenged as he
had stints at the International Monetary Fund (IMF) and the Union government.
In 1996-97, he had nearly two years of association with the RBI, when he was
sent on deputation from the IMF (where he worked during 1990-95).
He has also worked as several central and state
government high level committees including Task Force on Direct Taxes and Group
of Ministers on Telecom Matters etc between 2000 and 2004.
Patel holds a PhD in Economics from Yale University
(1990). Apart from this, he had MPhil from Oxford (1986)and the Brookings
Institution since 2009.
He joined RBI in 2013, and was given a second term in
January this year. In a major achievememnt, he run the central bank's monetary
policy department since 2013.
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