As indianmandarins had anticipated in its report dated December 19, 2015 Government of India re-appointed Dr Urjit R. Patel as deputy governor of the Reserve Bank of India, for a further period of three years effective from January 11, 2016
Previously Patel served a three year term as deputy governor of RBI since January 11, 2013.
At the time of selection process although about a dozen candidates had applied for the job, the government was said to have decided to extend Patel’s tenure to maintain continuity at a time when reform initiatives such as the monetary policy committee and public debt management agency are underway. Patel, seen as a key lieutenant of Governor Raghuram Rajan has been involved in some of the changes in the way RBI does things.
Weblink (Our story dated December 19, 2015)