Dr. Urjit Patel, who was appointed the Governor of the Reserve Bank of India (RBI) by the government on Saturday, was previously the Deputy Governor of the central bank.
Prior to his term as Deputy Governor, which began in January 2013, Dr. Patel was with the Boston Consulting Group as an advisor on energy and infrastructure.
The 52-year-old has a Ph.D. in Economics from Yale University and an M. Phil. from Oxford University. He has been a non-resident Senior Fellow, The Brookings Institution since 2009.
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Dr. Patel was with International Monetary Fund (IMF) between 1990 and 1995 and worked on the U.S., India, Bahamas and Myanmar desks.
During 1996-97, he was sent on deputation by the IMF to the RBI, where he provided his inputs on the development of the debt market, banking sector reforms, pension fund reforms, real exchange rate targeting and evolution of the foreign exchange market.
He was also a consultant to the Department of Economic Affairs, Ministry of Finance between 1998 and 2001.
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Between 2000 and 2004, Dr. Patel worked closely with several Central and State government high-level committees on a variety of issues, including direct taxes, competition matters, infrastructure, telecom, civil aviation reforms, power, and defence, to name a few.
Dr. Patel has also been worked with several companies, including Reliance Industries where he was president of business development, Infrastructure Development Finance Company Limited (IDFC) and as executive director, and member of the board, Gujarat State Petroleum Corporation Limited.