Urjit Patel, the former Governor of the Reserve Bank of India, has been appointed as the Executive Director at the International Monetary Fund (IMF) for a three-year term, effective upon him assuming the post, with the appointment approved by the Appointments Committee of the Cabinet.

His appointment comes at a time of global economic uncertainty, where his expertise is expected to provide valuable insights into international financial governance and policy.

Born in Kenya, Patel has a broad international career, including advisory work with the IMF in 1990 and participation in high-level Indian government committees on infrastructure, civil aviation, and electricity reforms, making him a valuable asset for the IMF.

Prior to this role, Patel served as Vice President for Investment Operations at the Asian Infrastructure Investment Bank (AIIB), resigning in January 2024 due to family health issues.

The appointment reflects India's commitment to contributing expertise to multilateral organizations and aligns with the IMF’s goals of fostering global monetary cooperation and sustainable growth.

He will replace K V Subramanian, whose tenure was terminated six months early, with the change effective from April 30, 2025.

During his tenure as RBI Governor from 2016 to 2018, Patel oversaw major financial reforms in India, including demonetisation and the implementation of GST, which aimed to improve transparency and economic growth.

The appointment was announced by the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi, and becomes effective upon Patel assuming the role or until further notice.

His selection follows the abrupt termination of the previous IMF Executive Director, Krishnamurthy Subramanian, marking a significant shift in India's representation at the IMF.

Born in Kenya, Patel's extensive career in financial policy advisory roles and reforms, both internationally and in India, positions him as a key figure to influence global economic policy.

His appointment signals a milestone for India’s representation in global financial institutions and is expected to enhance India’s influence in international economic policy-making.

Patel holds degrees from the London School of Economics, Oxford University, and Yale University, and has worked in various public and private sector roles, including a stint at the IMF from 1990 to 1995.