New Delhi, Aug 20: Reserve Bank of India Deputy Governor Urjit Patel will be the 24th Governor of RBI and will succeed Raghuram Rajan, who will demit office on September 4.
Patel, 52, joined RBI as Deputy Governor on January 11, 2013, and was given a second term in January.
As representative senator, Patel headed the RBI board to draft the money related strategy report, which turned into the premise of the continuous changes at the peak bank.
The Patel board of trustees report additionally framed the premise of the fiscal approach advisory group, which takes away a great deal of forces of RBI and the senator, as likewise move to make an open obligation administration office.
Under the autonomous money related strategy advisory group, which is being set up, the administration will set a swelling focus to RBI and the representative will be made responsible to Parliament on the off chance that he/she neglects to contain expansion inside target.
Preceding his arrangement as the delegate representative, Patel was Advisor (Energy and Infrastructure), The Boston Consulting Group.
He is a Ph.D. (Financial aspects) from Yale University (1990) and M Phil from Oxford (1986) and has been a non-inhabitant Senior Fellow at The Brookings Institution since 2009.
Patel was with the International Monetary Fund (IMF) somewhere around 1990 and 1995, and took a shot at the US, India, Bahamas and Myanmar work areas.
He was on nomination (1996-1997) from the IMF to the Reserve Bank of India and gave guidance on improvement of the obligation market, keeping money area changes, benefits store changes, genuine swapping scale focusing on and development of the outside trade market.
Patel was additionally a Consultant (1998-2001) to the Ministry of Finance, Department of Economic Affairs, New Delhi.
Some of his past assignments incorporate, President (Business Development), RIL; Executive Director and Member of the Management Committee, IDFC (1997-2006); Member of the Integrated Energy Policy Committee (2004-2006) and Member of the Board, Gujarat State Petroleum Corporation Ltd.
Somewhere around 2000 and 2004, Patel worked intimately with a few focal and state abnormal state panels, for example, Task Force on Direct Taxes, Finance Ministry, Advisory Committee (on Research Projects and Market Studies), Competition Commission of India, secretariat for the Prime Minister s Task Force on Infrastructure, Group of Ministers on Telecom Matters, Committee on Civil Aviation Reforms, Ministry of Power’s Expert Group on State Electricity Boards and High Level Expert Group for Reviewing the Civil and Defense Services Pension System.
Patel has created specialized distributions, papers and remarks in the ranges of Indian macroeconomics, open fund, base, budgetary intermediation, global exchange and the financial matters of environmental change.