Dr Urjit R Patel takes over as Reserve Bank of India Governor

New Delhi: Dr Urjit R Patel took over as the governor of Reserve Bank of India (RBI) on Monday.

“After serving as RBI Deputy Governor (DG) for almost three years, Patel has assumed charge as its 24^th governor effective September 4, 2016,” said the central bank in a statement.

It may be mentioned that Patel has succeeded Raghuram Rajan who is going back to academia after his three-year term. The handover ceremony will be held on Tuesday as it was Sunday on September 4 and the next day was also a holiday owing to Ganesh Chaturti.

Other highlights:

• Patel’s appointment was approved by the cabinet’s appointment committee on August 20 last.
• His tenure as RBI DG was extended earlier this year.
• He has also served at the International Monetary Fund (IMF).
• He was on a deputation from IMF to RBI during 1996-97.
• He also served as a consultant to the Ministry of Finance (Economic Affairs Department) from 1998-2001.

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