Former Reserve Bank of India (RBI) governor Urjit Patel has been appointed as India’s next executive director at the International Monetary Fund (IMF) for a tenure of three years. He will represent India along with Bangladesh, Sri Lanka, and Bhutan on the IMF board.

Patel, who served as the 24th governor of the RBI from 2016 to 2018, played a crucial role in shaping India’s monetary policies and strengthening the banking sector. His tenure was marked by key financial reforms, including measures related to inflation targeting and banking stability.

With his appointment, officials believe India will gain a stronger voice in global financial discussions, particularly at a time when developing economies are facing multiple economic challenges. His expertise in macroeconomics and international finance is expected to add weight to India’s representation at the IMF.