Urjit Patel assumed charge as governor of the Reserve Bank of India on September 4
RBI chief Urjit Patel, who stepped down today, one year before his term was to end, cited "personal reasons" for the move. This comes days after a face-off with the government over the country's economy from the past few months.
Here is a timeline of Mr Patel's tenure at the Reserve Bank:
October- November, 2018: The RBI and the government have been at loggerheads since October on three key issues that included excess reserves. The government was seen to be ramping up pressure on the bank to release the reserves, which, critics said, would help boost the economy in an election year. Last month, the board met for more than nine hours in Mumbai to resolve the differences, which ended on a conciliatory note. The bank had agreed to set up a panel on sharing surplus reserves and restructure loans of small businesses up to Rs. 25 crore.
September 4, 2016: Urjit Patel assumed charge as governor of the Reserve Bank of India after Raghuram Rajan's term ended.
November 8, 2016: Within 2 months of assuming charge, Mr Patel oversaw the demonetisation ordered by the BJP government.
January 11, 2013: Urjit Patel assumed charge as the deputy governor of the RBI till he was appointed as the RBI Governor.
1996-1997: From 1996 to 1997 he was on deputation from the IMF to the Reserve Bank.
1990-1995: Urjit Patel served at the International Monetary Fund from 1990 to 1995.
1998-2001: He served as a consultant to the Ministry of Finance (Department of Economic Affairs) from 1998-2001.
He has also worked closely with many high level committees of the several central and state governments. He has a PhD in Economics from Yale University, an M. Phil from Oxford University and a B.Sc. from the University of London.