♦ The government has approved the appointment of former Reserve Bank of India (RBI) governor Dr. Urjit Patel as Executive Director at the International Monetary Fund (IMF) for a three-year term on 29 August 2025.

♦ Patel’s appointment follows the abrupt termination of Krishnamurthy V. Subramanian’s services, which ended his term about six months early. 

♦ A Kenyan-born Indian economist, Patel began his career at the IMF over 30 years ago.

♦ He initially worked in Washington, D.C., before moving to India in 1992 as the IMF’s deputy resident representative in New Delhi.

♦ He became the 24th governor of the RBI in 2016, succeeding Raghuram Rajan.

♦ In 2018, he became the first RBI governor to resign for personal reasons, serving the shortest term since 1992.