Urjit Patel, Reserve Bank of India (RBI) deputy governor, will take over as the central bank’s new head, ending two months’ speculation about Raghuram Rajan’s successor.
Patel will assume office as the 24th RBI governor for three years on September 5, a day after Rajan’s term ends.
Patel, born on October 28, 1963, received his doctorate in economics from Yale University in 1990) and M Phil from Oxford (1986). He has worked with the International Monetary Fund (IMF) between 1990 and 1995 covering the US, India, Bahamas and Myanmar desks.
He will be the eighth Deputy Governor to be made Governor at RBI.
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