August 30, 2025

Hold your hats, finance fans! Urjit Patel, the former Reserve Bank of India (RBI) Governor, is making a dazzling return to the International Monetary Fund (IMF) as its new Executive Director. The Indian government has given him this prestigious post, taking him back to the place where his global journey started — over 30 years ago!

Born in Kenya and armed with top-notch education from London's School of Economics, Oxford, and Yale, Patel has worn many hats. His career is a vibrant tapestry woven with roles in international finance, Indian economic policymaking, and big corporate boards.

Let’s take a quick whirlwind tour of his outstanding journey:

• 1984: Completed B.Sc. in Economics at the London School of Economics.
• 1986: Earned M.Phil. in Economics from Oxford University.
• 1990: Achieved Ph.D. in Economics from Yale University.
• 1990–95: Kicked off his career as an economist at the IMF, working on the US, India, Bahamas, and Myanmar.
• 1996–97: Served on IMF deputation to RBI, advising on debt markets, banking reforms, and exchange rate policy.
• 1998–2001: Worked as a consultant with India's Ministry of Power and Department of Economic Affairs.
• 2000–04: Member of several government committees covering taxes, infrastructure, telecom, aviation reforms, pensions, and competition policy.
• 1997–2006: Executive Director at Infrastructure Development Finance Company (IDFC).
• Other top roles: Advisor at Boston Consulting Group; President, Business Development at Reliance Industries; board roles at Gujarat State Petroleum Corporation and Multi Commodity Exchange of India.
• Since 2009: Non-Resident Senior Fellow at Brookings Institution.
• 2013–16: Deputy Governor at RBI and Director at State Bank of India.
• 2014: Chaired the Urjit Patel Committee, proposing a 4% CPI inflation target—a big reform!
• 2016–18: Became the 24th Governor of the RBI. He resigned in December 2018 amid much attention.
• 2020: Took the role of Chairman at National Institute of Public Finance and Policy (NIPFP).
• 2021: Independent Director at Britannia Industries.
• 2022: Vice President at Asian Infrastructure Investment Bank (AIIB), overseeing South Asia, Southeast Asia, and Pacific Islands.

And now, the curtain rises on 2025, where Urjit Patel steps into the esteemed position of Executive Director at the IMF, nominated by the Indian government. This role not only honors his roots but puts him on the global economic prowl once again.

His stellar journey shows his knack for balancing domestic reforms with global finance, making him the perfect fit at the IMF. India's pride, Urjit Patel, is all set to dazzle once more on the world economic stage!

Read More at Economictimes →

Tags: Urjit patel, Rbi governor, Imf executive director, Indian economist, Asian infrastructure investment bank, Monetary policy,