Urjit R Patel, also known as Urjit Ravindra Patel, is a famous Indian economist known for Famous for serving as the 24th Governor of the Reserve Bank of India (RBI). In addition to being one of India’s leading economists, Mr. Patel is known for his staunch stance on some economic policies that have often manifested themselves into discord between the Reserve Bank of India and the central government.
Biography/Wiki
Urjit Patel was born on October 28, 1963, in Nairobi, Kenya, to Manjula Patel and Ravindra Patel (58 years old; as of 2021). His ancestors belong to the Indian state of Gujarat: his grandfather immigrated to Kenya from Mahudha (a village in the Kheda district of Gujarat) in the 20th century. He received his education at Visa Oswal Primary School and Jamhuri High School run by the Gujarati community in Nairobi. After earning a BA in Economics from the London School of Economics, he went on to study for a Master’s degree. In 1986, Mr. Patel received a PhD in Economics from Linacre College, Oxford University. In 1990, Mr. Patel received his PhD in Economics from Yale University.
Urjit Patel’s School Jamhuri High School, Nairobi, Kenya
family and caste
Urjit Patel’s father, Ravindra Patel, is a businessman who owns a chemical factory called Rexo Products Ltd. in Nairobi. His mother was a housewife, and Urjit lived with her in an apartment in south Mumbai. Urjit Patel hails from the Patidar community, which is mainly concentrated in the state of Gujarat. Urjit Patel is unmarried. According to sources, Mr. Patel has a sister (name unknown); who lives in New Jersey, United States.
Profession
Urjit Patel at the Reserve Bank of India office
After receiving his PhD in economics from Yale University in 1990, Mr. Patel interned at the International Monetary Fund’s India office from 1991-94. He was posted to the International Monetary Fund Country Mission to India from 1992-95. Urjit Patel’s initial tenure with the Reserve Bank of India (RBI) began in 1995 as the International Monetary Fund Representative to the RBI, where he worked on debt market developments, banking reforms , pensions and other aspects have played a consulting role. From 1998 to 2001, Mr. Patel served as Advisor to the Department of Economic Affairs, Ministry of Finance, Government of India. Between 2000 and 2004, he held various positions in various high-level committees at the central and state government levels. In 2006-07, when Narendra Modi was chief minister of the state, Urjit Patel was on the board of directors of the Gujarat State Petroleum Corporation. In 2010, he was appointed Chairman of the Annual Conference of the Gujarat Economic Association (GEA). On January 11, 2013, he was appointed as one of the Deputy Governors of the Reserve Bank of India; he is responsible for formulating a number of important monetary and economic policies. On August 20, 2016, Urjit Patel was appointed as the 24th Governor of the Reserve Bank of India (RBI). On December 10, 2018, he resigned as Governor of the Reserve Bank of India; citing personal reasons. In January 2022, he succeeded former Gujarat chief secretary DJ Pandian as deputy governor of the Beijing-based Asian Infrastructure Investment Bank (AIIB); he was appointed to the position for a three-year term.
main name
- President (Business Development), Reliance Industries (1997-2006)
- Non-Executive Director, Gujarat State Petroleum Corporation
- Deputy Governor, Reserve Bank of India
- Governor, Reserve Bank of India (September 4, 2016 to December 10, 2018)
dispute
Ujit Patel’s controversy with Modi government
In October 2018, Urjit Patel had a dispute with the Indian central government over the autonomy of the Reserve Bank of India. The central government accused him of making the disagreement public.
fact
- His ancestors belonged to Kheda district of Gujarat.
- Previously, Urjit Patel held Kenyan citizenship.
- He worked closely with Narendra Modi when he was chief minister of Gujarat.
- He has also worked with Reliance Industries.
- He lives with his mother in a small apartment in south Mumbai.
- During his tenure as RBI Governor, the Indian government demonetized Rs 500 and Rs 1,000 notes.
Categories: Biography
Source: HIS Education