Urjit Patel named RBI deputy governor
Economist Urjit Patel will be new deputy governor at the Reserve Bank of India, Financial Services secretary DK Mittal said on Wednesday. Mittal said Patel's name had been finalised for the position that fell vacant on retirement of Subir Gokarn. Gokarn's three-year term at the Central Bank had ended November 24. But it was extended till December 31.
RBI said in a statement Tuesday that the Department of Economic and Policy Research, Department of Statistics and Information Management and Monetary Policy Department would report directly to Governor D. Subbaro till further orders.
These departments were handled by Gokarn.
Patel, senior fellow at the US-based Brookings Institution, will handle monetary policy department at the central bank.
Patel is also an adviser in the Boston Consulting Group.
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