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Saturday, August 20, 2016

Urjit Patel has been appointed as the 24th Governor of the Reserve Bank of India (RBI). Urjit Patel, aged 52 years, is an Indian economist, consultant and banker, currently serving as Deputy Governor of the Reserve Bank of India. As Deputy Governor of RBI, Patel looks after Monetary Policy, Economic Policy Research, Statistics and Information Management, Deposit Insurance, Communication and Right to Information. Urjit holds an M.Phil degree from Oxford University and was also associated with Boston Consulting Group before his appointment as the deputy governor at RBI.

According to the press note released by the Government, “The appointment has been made based on the recommendation of the Financial Sector Regulatory Appointment Search Committee (FSRASC) headed by Cabinet Secretary P.K. Sinha. The Committee had met twice to discuss all the possible names that can be considered for this assignment and had submitted a short panel of names to the ACC (appointment committee of cabinet),”

Dr. Patel was part of the core team at the RBI and is likely to maintain continuity and follow polices adopted under Raghuram Rajan


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