The Union government today appointed Deputy Governor Dr. Urjit R Patel as 24th Governor of the Reserve Bank of India. As Deputy Governor of RBI, Dr Patel looks after Monetary Policy, Economic Policy Research, Statistics and Information Management, Deposit Insurance, Communication and Right to Information. A panel under his chairmanship had proposed inflation-targeting and the setting up of a monetary policy committee. He will take charge from Dr Raghuram Rajan, arguably the most successful governor of the RBI.
Dr. Patel obtained his B.Sc.(Economics) from the University of London in 1984 , M. Phil. degree from Oxford University in 1986. And he received his doctorate in Economics from Yale University in 1990.
Before his appointment as Deputy Governor of RBI in 2013, he was an advisor on energy and infrastructure at The Boston Consulting Group, an American management consulting firm. In 2008 /09 he served as President (Business Development), Reliance Industries Ltd. During 2005 and 2007 he served as a chairman, Senior Expert Council, India Development Fund, India’s largest equity fund for infrastructure. Dr. Patel has also served as Economist Programme at the International Monetary Fund (IMF), Washington, D.C.; worked on the U.S., India, Bahamas and Myanmar desks during 1990 and 1992.
His research area includes Financial Sector & Macroeconomic Policy , International Trade, Foreign Exchange Reserves & Exchange Rates,Public Finance,Climate change and global warming,Infrastructure, and Economics of Regulation.
By Zulfiqar Sheth
PhD Research Scholar, Dept of Economics, Aligarh Muslim University, India