Urjit Patel named RBI deputy governor

Last Updated: Wed, Jan 02, 2013 14:40 hrs

New Delhi, Jan 2 (IANS) Economist Urjit Patel will be new deputy governor at the Reserve Bank of India, Financial Services Secretary D.K. Mittal said Wednesday.

Mittal said Patel's name had been finalised for the position that fell vacant on retirement of Subir Gokarn.

Gokarn's three-year term at the central bank had ended Nov 24. But it was extended till Dec 31.

RBI said in a statement Tuesday that the Department of Economic and Policy Research, Department of Statistics and Information Management and Monetary Policy Department would report directly to Governor D. Subbaro till further orders.

These departments were handled by Gokarn.

Patel, senior fellow at the US-based Brookings Institution, will handle monetary policy department at the central bank.

Patel is also an adviser in the Boston Consulting Group.

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