About Mr. Urjit Patel-RBI Governer

About Mr. Urjit Patel-RBI Governor

From last 1-2 months, There were many rumours coming for the Successor of RBI Governor Mr. Raghuram Rajan whose term going to end in September,2016. Finally on 20 August, 2016; Govt. discloses the name for new RBI Governor who is no other than this aristocrat Mr. Urjit Patel.  He will take over the RBI Governor Position on 4th September,2016 for 3 years. So, here we are going to learn some excellent facts about Mr. Urjit Patel-RBI Governor which will come in use for the upcoming govt. Exams;

Lesser known Facts about Mr. Urjit Patel-RBI Governor and his previous stints at the Government;  

  • Urjit Patel born on 28 October,1963 in Kenya and completed his doctorate in economics from Yale University in 1990 and M.Phil from Oxford (1986).
  • He was appointed as Deputy Governor at RBI in 2013 for the term of 3 years and reappointed in January, 2016 for next 3 years.
  • Being Deputy Governor in RBI, he has run the Central Bank’s monetary policy department since 2013.
  • Before appointed as Deputy Governor in RBI, He was advisor for Energy and Infrastructure department with Boston Consulting Group.
  • As we all are familiar with the Urjit Patel Committee which was formed by RBI to revise and Strength the Monetary Policy Framework.
  • Urjit Patel was the chairman of that committee and this committee potentially changed the way monetary Policy works in India by following recommendations;

  1. Shifting from WPI (Whole Sale Price Index) to CPI (Consumer Price Index).
  2. Setting the 2% to 6% target range for CPI.
  3. A team deciding the policy rate instead of one person alone.

Employment history of Mr. Urjit Patel-RBI Governer

About Mr. Urjit Patel-RBI Governer
About Mr. Urjit Patel-RBI Governer

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