Urjit Patel takes over as RBI Deputy Governor

Mumbai: Renowned economist Urjit Patel today took charge as Deputy Governor of the Reserve Bank of India. He succeeds Subir Gokarn, who completed his term last month.

Patel, who is appointed for a period of 3 years, will be the fourth Deputy Governor, the other three being K C Chakrabarty, Anand Sinha and H R Khan, RBI said in a statement. Prior to his appointment as the Deputy Governor, Patel was Advisor (Energy & Infrastructure), the Boston Consulting Group, it said.

[caption id=“attachment_587659” align=“alignleft” width=“380”]  Patel, a PhD (Economics) from Yale University, is likely to look after the portfolios of Gokarn. Reuters[/caption]

In his previous stint (1996-1997) with the RBI, he was on deputation from the IMF and provided advice on development of the debt market, banking sector reforms, pension fund reforms, real exchange rate targeting and evolution of the foreign exchange market.

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Some of his previous assignments include, President (Business Development), Reliance Industries, Executive Director and Member of the Management Committee, Infrastructure Development Finance Company Limited (IDFC) (1997-2006), Member of the Integrated Energy Policy Committee of the Government of India (2004-2006), and Member of the Board, Gujarat State Petroleum Corporation Limited.

Patel, a PhD (Economics) from Yale University, is likely to look after the portfolios of Gokarn which included Department of Economic and Policy Research, Department of Statistics and Information Management and Monetary Policy Department

PTI