Ex-RBI Governor Urjit Patel Appointed As IMF Executive Director For 3 Years

Former Reserve Bank of India (RBI) Governor Urjit Patel has been appointed as the Executive Director at the International Monetary Fund (IMF) for a term of three years. The announcement was confirmed through a government statement on 29 August 2025, following approval by the Appointments Committee of the Cabinet, with the order dated 28 August 2025.

Patel’s Tenure At RBI

Patel, who succeeded Raghuram Rajan in September 2016, served as RBI Governor until his resignation in December 2018, which he attributed to personal reasons. His decision came after a much-publicised rift between the central bank and the government led by Prime Minister Narendra Modi. Notably, Patel became the first RBI Governor since 1990 to step down before the completion of his tenure.

Earlier Roles At IMF And Beyond

The appointment marks a return to familiar ground for Patel, who had earlier been associated with the IMF. Between 1996 and 1997, while on deputation from the IMF as an RBI Deputy Governor, he advised on reforms in the debt market, banking sector, pension funds, and the foreign exchange market. 

Patel also contributed to the Ministry of Finance (Department of Economic Affairs) as a consultant between 1998 and 2001, offering policy guidance. Over the years, he has held multiple assignments spanning both the public and private sectors, strengthening his credentials as an economist with international and domestic expertise.

Read More: India Could Become the World's Second-Largest Economy in PPP terms by 2038: EY Report!

Conclusion

With this new appointment, Patel once again takes on a key global role, returning to the IMF where his career had earlier roots. His mix of domestic policy experience and international financial expertise positions him to contribute significantly during his three-year term at the Fund.

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