Gaming
From Valsad to SC: Justice Pardiwala holds fate of $3 billion gaming industry, 2 lakh jobs
The Appointments Committee of the Cabinet has approved the nomination of economist and former Reserve Bank of India (RBI) Governor Urjit Patel as India’s candidate for the position of Executive Director (ED) at the International Monetary Fund (IMF).
According to an official order issued by the Department of Personnel and Training (DoPT) on Thursday, Patel’s tenure will be for a period of three years, effective from the date he assumes charge of the post, or until further orders, whichever is earlier.
Patel, who served as the 24th Governor of the RBI from September 2016 to December 2018, played a central role in steering India’s monetary policy during a phase of significant economic reforms. He has earlier worked with the IMF and has held multiple advisory roles in financial and economic policymaking.
The Executive Director at the IMF represents India and its South Asian constituency on the Fund’s 24-member Board, which shapes the institution’s lending programs, policy decisions and surveillance over the global economy.
Patel’s appointment comes at a time when global economic headwinds, ranging from slowing growth and currency volatility to debt crises in developing countries, are testing the IMF’s role as a stabilizing institution. His experience as a central banker and policymaker is expected to bolster India’s voice in multilateral economic discussions.
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