Former Reserve Bank of India (RBI) Governor, Urjit Patel, has been appointed as Executive Director at the International Monetary Fund (IMF), a government statement shared on Friday, August 29, 2025. His appointment is for a period of three years, reported The Hindu.
Career with the RBI
Mr Patel took charge as RBI Governor in September 2016, succeeding Raghuram Rajan, but resigned in December 2018, citing personal reasons.
His resignation followed a prolonged public dispute between the central bank and the government, making him the first RBI governor since 1990 to step down before completing his tenure. Before becoming governor, he also served as Deputy Governor of the RBI.
Links with IMF and government
The Appointments Committee of the Cabinet approved his posting, according to an order dated August 28, 2025. Mr Patel is not new to the IMF, having earlier served at the institution. He was on deputation from the IMF to the RBI during 1996-1997, advising on the development of the debt market, banking sector reforms, pension fund reforms, and the evolution of the foreign exchange market.
From 1998 to 2001, he was a consultant with the Ministry of Finance (Department of Economic Affairs) and has also held other assignments across the public and private sectors.
