Deputy Governor of Reserve Bank of India (RBI) Urjit Patel 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. Finance Minister Arun Jaitley on Thursday held an hour-long discussion with Prime Minister Narendra Modi over the appointment of a new RBI Governor, a post that will fall vacant on September 4.
Mr. Patel holds a Doctorate (Ph.D) in Economics from Yale University. He is also a graduate of the University of London and Oxford University. He is known as an expert on inflation and has also been with the IMF and the Boston Consulting Group.
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