Urjit Patel Appointed IMF Executive Director for Three Years

New Delhi: Former Reserve Bank of India (RBI) Governor Urjit Patel has been appointed as the Executive Director of the International Monetary Fund (IMF) for a tenure of three years, according to a Personnel Ministry order issued on Wednesday.

The Appointments Committee of the Cabinet approved Patel’s name for the post, the order said.

Patel, an economist of international repute, served as the 24th Governor of the RBI from September 4, 2016. He resigned on December 10, 2018, citing personal reasons, becoming the first central bank chief since 1990 to step down before completing his term.

He has previously worked with the IMF and was on deputation to the RBI in 1996–97, where he contributed to reforms in the debt market, banking sector, pension funds and the foreign exchange market. Patel also served as a consultant in the Ministry of Finance’s Department of Economic Affairs from 1998 to 2001, apart from holding several key positions in both public and private sectors.

Officials said his appointment to the IMF reflects India’s continued emphasis on strengthening its representation in global financial institutions.