Urjit Patel has been appointed as the successor of Raghuram Rajan. At a time when India is fighting with the inflation, RBI might have got the best possible replacement of the Raghuram Rajan. To understand the importance of the selection, it is important to look at the portfolio of the new RBI governor.
Mr. Urjit has been one of the four deputy RBI Governors of India. But before that, he did his Ph.D. in Economics from Yale University. His alma mater also includes Oxford University where he completed his MPhil.
Now when it comes to the portfolio, he looks even more promising.
He was the advisor for Energy and Infrastructure of The Boston Consulting Group.
From 1990-1995, he worked with IMF or International Monetary Fund and worked with US, India, Myanmar and Bahamas desks.
In 1996-1997, he came in a deputation to RBI from IMF. He worked for debt market, banking reforms, pension fund reforms, and foreign exchange market reforms. He worked very closely after the globalization in India saw the market booming.
Urjit Patel has been very close to NDA regime and he has served in many departments before. Here are some portfolios, he held in past.
From 1998 to 2001, he was a consultant to Ministry of Finance and Department of Economic Affairs.
He was the member of the Integrated Energy Policy committee of the Government of India.
He was also the Board Member of the Gujarat State Petroleum Corporation Ltd.
He has also worked for Central Monetary Committee as well.
Apart from holding such a wide range of portfolios, he has authored many publications on Finance, Infrastructure, trading, economics and many others. He is also considered as one of the right hands of the Raghuram Rajan for fighting against the inflation. He is one of the best for the inflation and would take control of the office from 4th September 2016.
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