Patel assumes charge as RBI's the twenty-fourth Governor

The Reserve Bank of India's new Governor Urjit Patel, who has maintained a contrasting low-profile has assumed charge as the twenty-fourth Governor of the Reserve Bank of India effective September 4, 2016 after serving as Deputy Governor since January 2013.

Patel has also served at the International Monetary Fund (IMF), where he was on deputation from the IMF to the Reserve Bank during 1996-1997, and in that capacity he provided advice on development of the debt market, banking sector reforms, pension fund reforms, and evolution of the foreign exchange market.

He was a Consultant to the Ministry of Finance (Department of Economic Affairs), Government of India, from 1998 to 2001.

Dr. Patel has worked closely with several central and state government high level committees, including the Task Force on Direct Taxes (Kelkar Committee), the High Level Expert Group for Reviewing the Civil and Defence Services Pension System, the Prime Minister's Task Force on Infrastructure, the Group of Ministers on Telecom Matters, the Committee on Civil Aviation Reforms and the Ministry of Power's Expert Group on State Electricity Boards.

There have been several publications in the areas of Indian macroeconomics, monetary policy, public finance, the Indian financial sector, international trade, and regulatory economics written by Dr. Patel.