The Government of India has approved the appointment of former Reserve Bank of India (RBI) Governor Urjit Patel as Executive Director (ED) at the International Monetary Fund (IMF). His tenure will last for three years. Patel will succeed K.V. Subramanian, whose service at the IMF was curtailed six months before the completion of his full term, effective April 30, 2025.
According to the official order dated August 28, 2025, Patel’s appointment will be valid for three years from the date he assumes office, or until further notice.
The IMF Executive Board comprises 25 directors representing individual member nations or country groups. India belongs to a constituency that includes Bangladesh, Sri Lanka, and Bhutan.
Prior to this appointment, Patel served as Vice President for Investment Operations (Region 1) at the Asian Infrastructure Investment Bank (AIIB) in Beijing, a role he relinquished in January 2024 due to family health reasons.
In 2016, Patel succeeded Raghuram Rajan as the 24th Governor of the RBI, a position he resigned from in December 2018 amid differences with the government over surplus transfers. Before becoming Governor, he served as RBI’s Deputy Governor, handling key portfolios such as monetary policy, economic research, statistics, deposit insurance, and communications.
Born in 1963, Patel has had extensive experience in both public and private sectors. He worked as an advisor in the Ministry of Finance between 1998 and 2001 and has held positions at Reliance Industries, IDFC Ltd, MCX Ltd, and Gujarat State Petroleum Corporation.
Academically, Patel earned his undergraduate degree in Economics from the London School of Economics, an MPhil from Oxford University in 1986, and a PhD in Economics from Yale University in 1990. After completing his doctorate, he joined the IMF (1990–1995), working on the U.S., India, Bahamas, and Myanmar desks.
