Urjit Patel has been reappointed as Deputy Governor of RBI for a second term by government [ Current Affairs ]


For a second three-year term Dr. Urjit Patel has been reappointed as Deputy Governor of Reserve Bank of India (RBI) by The Union Government. Duty of Dr. Patel as Deputy Governor of RBI is to looks after Monetary Policy, Economic Policy Research, Deposit Insurance, Statistics and Information Management and Right to Information etc.

Image of Urjit Patel

Image of Urjit Patel

Appointed Deputy Governor of RBI for 2nd Term

About Urjit Patel

  • He was born on 28 October 1963.
  • By profession Urjit Patel is an eminent economist, consultant and banker.
  • He is also serving as advisor of the Boston Consulting Group.
  • He is most experienced person in sectors including financial, energy and infrastructure sectors.
  • He had completed his BA from LSE (London School of Economics).
  • And M. Phil. From Oxford University in 1986.
  • He had received his doctorate in Economics from Yale University in 1990.
  • Between 1990 and 1995, he has worked with the International Monetary Fund (IMF) covering the India, US, Bahamas and Myanmar desks of it.
  • He was appointed as the Deputy Governor of RBI in January 2013 for the first time for three year term.
  • He had headed committee to review the monetary policy framework and had proposed monetary policy committee to set interest rates (currently solely decided by the RBI governor).


  • The re-appointment of Mr. Patel is created history because none of the deputy governors got a second term.
  • If he serves the full three-year second term, he could become the longest serving deputy governor of RBI.

- Published on: January 11, 2016