Urjit Patel Biography, Wiki, Family, and More Wikigraphy

Urjit Ravindra Patel, a prominent Indian economist, served as the 24th Governor of the Reserve Bank of India (RBI). Known for his strong stances on economic policies, his tenure was marked by notable events and some controversy.

Table of Contents

Biography/Wiki

Born on October 28, 1963, in Nairobi, Kenya, Urjit Patel’s family origins trace back to Mahudha village in Gujarat’s Kheda district. His education began at the Gujarati community-run Visa Oswal Primary School and Jamhuri High School in Nairobi. He earned a Bachelor’s in Economics from the London School of Economics, followed by an M.Phil. from Linacre College, Oxford University in 1986, and a Doctorate in Economics from Yale University in 1990.

Family & Caste

His father, Ravindra Patel, was a businessman owning Rexo Products Ltd. in Nairobi. His mother is a homemaker. Urjit Patel belongs to the Patidar community of Gujarat and is unmarried. He has a sister residing in New Jersey.

Career

After his doctorate, Patel interned at the IMF India desk (1991-1994) and worked on an IMF country mission in India (1992-1995). His RBI career began in 1995, advising on debt markets, banking reforms, and pension fund reforms. From 1998 to 2001, he consulted for the Ministry of Finance. He served on various high-level committees (2000-2004) and joined the Gujarat State Petroleum Corporation board (2006-2007) under Chief Minister Narendra Modi. He also served as President of the Gujarat Economic Association (GEA) Annual Conference in 2010. He became a Deputy Governor at the RBI on January 11, 2013, before his appointment as the 24th Governor on August 20, 2016. He resigned on December 10, 2018. In January 2022, he became vice-president of the Asian Infrastructure Investment Bank (AIIB).

Major Designations

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 – December 10, 2018)
Vice-President, Asian Infrastructure Investment Bank (January 2022 – Present)

Controversy

In October 2018, a public disagreement arose between Patel and the Central Government regarding the RBI’s autonomy.

Facts

His ancestors hailed from Kheda District, Gujarat.
He previously held Kenyan citizenship.
He worked closely with Narendra Modi during Modi’s time as Gujarat’s Chief Minister.
He had a career with Reliance Industries.
He resides in a modest flat with his mother in South Mumbai.
The 2016 demonetization of ?500 and ?1000 banknotes occurred during his tenure as RBI Governor.