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New Delhi: 52-year-old Urjit Patel, the RBI’s deputy governor in charge of monetary policy has been appointed as the new governor after current governor Raghuram Rajan’s term ends on September 4 2016.
Urjit acquired his BA from the London School of Economics and M. Phil from Oxford University in 1986.
He did his Phd in Economics from Yale University in 1990 and has worked with the Boston Consulting Group and Reliance Industries.
Dr. Urjit Patel joined the International Monetary fund in 1990 and worked on the USA, India, Bahamas and Myanmar Desks till 1995.
In the Past, Dr. Patel has also worked with several high level committees at state and central government level.
Dr.Patel’s appointement comes after current governor Raghuram Rajan on June 18 said no to a second term as the head of the central bank.
Rajan told his colleagues at the Reserve Bank of India that he will be returning to academics after his term ends adding that although the work on containing inflation and cleaning bank books is not over, but he has decided to move on after ‘due reflection’ and consultation with the government.
