Former RBI Governor Dr. Urjit Patel Appointed Executive Director of IMF for Three-Year Term.
Appointment
The Government of India has approved the appointment of Dr. Urjit Ravindra Patel, ex-Governor of the Reserve Bank of India (RBI), as the Executive Director (ED) for India at the International Monetary Fund (IMF). This approval grants him a three-year term to represent India at the multilateral financial institution.
- Dr. Urjit Patel’s appointment as IMF’s Executive Director was cleared by the Appointments Committee of the Cabinet (ACC) and comes with a tenure of three years, effective from when he assumes charge. He replaces Dr. Krishnamurthy Subramanian in the role.
- As Executive Director, Dr. Patel will represent India at the IMF Executive Board, playing a crucial role in policy deliberations and decisions that influence global economic strategy.
- Dr. Patel served as the 24th Governor of the Reserve Bank of India from September 2016 to December 2018. He is widely recognized for his work in introducing inflation-targeting frameworks and instituting banking reforms.
Main Point :- (i) The appointment marks a significant return for Dr. Patel to the institution where he began his career as an economist at the IMF. This full-circle progression underscores his extensive background in both domestic and international financial institutions.
(ii) His appointment is seen as a testament to India's growing clout in global economic governance. Dr. Patel’s experience bolsters India’s representation in international financial policymaking during an era of global economic turbulence.
(iii) Dr. Patel succeeds Dr. Krishnamurthy Subramanian, whose tenure was cut short amid controversy and disagreement with IMF protocols earlier in 2025, leaving the position open.
About International Monetary Fund (IMF)
Managing Director (MD) : Kristalina Georgieva
Headquarters: Washington, D.C., United States
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