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Former RBI Governor Dr. Urjit Patel Appointed Executive Director of IMF for Three-Year Term.

Appointment | Dated: 30 Aug 2025

The Government of India has approved the appointment of Dr. Urjit Ravindra Patel, ex-Governor of the Reserve Bank of India (RBI), as the Executive Director (ED) for India at the International Monetary Fund (IMF). This approval grants him a three-year term to represent India at the multilateral financial institution.

🎯 Key Highlights:

  • - Dr. Urjit Patel’s appointment as IMF’s Executive Director was cleared by the Appointments Committee of the Cabinet (ACC) and comes with a tenure of three years, effective from when he assumes charge. He replaces Dr. Krishnamurthy Subramanian in the role.
  • - As Executive Director, Dr. Patel will represent India at the IMF Executive Board, playing a crucial role in policy deliberations and decisions that influence global economic strategy.
  • - Dr. Patel served as the 24th Governor of the Reserve Bank of India from September 2016 to December 2018. He is widely recognized for his work in introducing inflation-targeting frameworks and instituting banking reforms.

💡 Other Important Facts:

  • (i) The appointment marks a significant return for Dr. Patel to the institution where he began his career as an economist at the IMF. This full-circle progression underscores his extensive background in both domestic and international financial institutions.
  • (ii) His appointment is seen as a testament to India's growing clout in global economic governance. Dr. Patel’s experience bolsters India’s representation in international financial policymaking during an era of global economic turbulence.
  • (iii) Dr. Patel succeeds Dr. Krishnamurthy Subramanian, whose tenure was cut short amid controversy and disagreement with IMF protocols earlier in 2025, leaving the position open.

📚 Test Your Knowledge:

Who has been recently appointed as the Executive Director of India at the International Monetary Fund (IMF) for a three-year term?

Correct Answer: Urjit Patel

🚀 Quick Recap:

About International Monetary Fund (IMF)

  • Managing Director (MD) : Kristalina Georgieva
  • Headquarters: Washington, D.C., United States