Former RBI Governor Urjit Patel has been appointed as Executive Director at the International Monetary Fund (IMF) for a three-year term. This article explores his career, tenure at RBI, and significance of this global role.
Urjit Patel’s Appointment to the IMF
- Appointment Date: August 28, 2025
- Term: Three years
- Role: Represent India and other countries in his constituency at the IMF Board
This marks another high-level international assignment for India in multilateral financial institutions.
Professional Background of Urjit Patel
- 24th Governor of the Reserve Bank of India from September 4, 2016, to December 10, 2018
- Roles at IMF, private sector consulting firms, and central and state-level economic advisory bodies
Key Events During Urjit Patel’s Tenure
- Demonetisation: Oversaw India’s demonetisation in November 2016
- GST Implementation: Led during the Goods and Services Tax (GST) rollout in 2017
- RBI-Government Conflict: Faced challenges amid disagreements with the central government
- Autonomy of RBI: Addressed issues around transferring surplus reserves (₹3.6 lakh crore) to the Centre
Key Takeaways for Competitive Exams
- Urjit Patel appointed as IMF Executive Director for a three-year term
- His career spans roles at RBI, IMF, and private sector consulting firms
- Significant events during his tenure include demonetisation and GST implementation
- His role at IMF signifies India’s continued influence in global economic forums
