New Delhi (29.08.2025): Around four months after the termination of Dr Krishnamurthy V Subramanian as Executive Director (ED) at the International Monetary Fund (IMF) for India, Bangladesh, Bhutan and Sri Lanka, the Appointments Committee of the Cabinet (ACC) has appointed Dr Urjit Patel, Economist and Former RBI Governor to the post of ED, IMF for a period of three years.
Dr Subramanian’s abrupt termination days before crucial IMF Board meeting that was scheduled for May 9, 2025 and just six months before the completion of his three-year term drew the attention of who’s who in India and globally as well. He was serving at the IMF since November 01, 2022.
The twenty-fourth Governor of RBI from September 4, 2016, Dr Urjit Patel, will now serve as Executive Director IMF. Dr Patel had succeeded Raghuram Rajan as RBI Governor. In 2018, he resigned due to personal reasons.
He had served at the IMF earlier as well and was on deputation from the IMF to the Reserve Bank during 1996-1997. In that role, he offered guidance on the development of the debt market, pension fund reforms, banking sector reforms, and the evolution of the foreign exchange market. He also served as consultant to the Department of Economic Affairs, Ministry of Finance from 1998 to 2001.
Besides that he worked closely with various central and state government high-level committees, including the High Level Expert Group for Reviewing the Civil & Defence Services Pension System, the Task Force on Direct Taxes (Kelkar Committee), the Prime Minister’s Task Force on Infrastructure, the Committee on Civil Aviation Reforms, the Group of Ministers on Telecom Matters and the Ministry of Power’s Expert Group on State Electricity Boards.
Dr Patel holds a Doctor of Philosophy (PhD) in economics from Yale University, a Master of Philosophy (M. Phil) from the University of Oxford and a Bachelor of Science (BSc) from the University of London.
ALSO READ
