RBI Governor and Deputy Governors
Currently (September 2016), Dr. Urjit Patel is the Governor of RBI. The four Deputy Governors of RBI are Mr. Shri Harun Rashid Khan, Shri Urjit Patel, Shri R. Gandhi and Shri S S Mundra. Brief description about them is given below.
Dr. Urjit Patel: Governor
Dr. Urjit Patel is the current and the 24th Governor of the Reserve Bank of India (RBI). Dr. Patel had succeeded Raghuram Rajan on September 4, 2016.
- Prior to this appointment (elevation) he was Deputy Governor of RBI. He is the eighth Deputy Governor to be elevated as Governor at RBI.
- By profession Dr. Urjit Patel is an eminent economist, consultant and banker. He has two decades of rich experience across sectors including financial, energy and infrastructure sectors.
- He has worked with the International Monetary Fund (IMF) covering the US, India, Bahamas and Myanmar desks between 1990 and 1995.
- For first time, he was appointed as the Deputy Governor of RBI in January 2013 for three year term and was later reappointed on January 2016.
- He had headed committee to review the monetary policy framework and had proposed monetary policy committee to set interest rates.
- He also had worked as a consultant to the Union Ministry of Finance (Department of Economic Affairs) from 1998 to 2001.
Harun Rashid Khan: Deputy Governor
He was re-appointed as Deputy Governor in July 2014for a period of three years.
- For first time he was appointed Deputy Governorin July 2011.Prior to this appointment he was Executive Director of Reserve Bank of India since October 2007. He was also has served as Director of NABARD.
- He had joined Reserve Bank in 1978 after his Masters in Political Science from Utkal University, Bhubaneswar and Masters in Philosophy from the School of International Studies, Jawaharlal Nehru University, New Delhi.
- He is a Certified Associate of the Indian Institute of Banking and Finance (CAIIB) and holds Diploma in Business Management (DBM).
Urjit Patel: Deputy Governor
He was appointed as the Deputy Governor in January, 2013 for a period of three years.
- Prior to his appointment as the Deputy Governor he was Advisor (Energy & Infrastructure), The Boston Consulting Group.
- He holds a Ph.D. in Economics from Yale University (1990) and M. Phil. from Oxford (1986).
- He was with International Monetary Fund (IMF) between 1990 and 1995 and worked on the U.S., India, Bahamas and Myanmar desks.
- He was a Consultant (1998-2001) to the Ministry of Finance, Department of Economic Affairs, New Delhi.
R. Gandhi: Deputy Governor
He was appointed as Deputy Governor in April 2014 for a period of three years.He replaced AnandSinha.
- He looks after the following portfolios of RBI: Department of Banking Operations and Development, Department of Non-Banking Supervision, Urban Banks Department, Department of Expenditure and Budgetary Control, Department of Information Technology, Legal Department, Premises Department and Risk Monitoring Department.
- RBI career:Prior to this appointment he was Executive Director of RBI. He had started his career with RBI in 1980.
He has a Master’s degree in Economics from the Annamalai University, Tamil Nadu. He also has post graduate level certificates in Management Information System from The American University, Washington DC, USA and in Capital Market from the City University of New York, New York, USA.
S S Mundra: Deputy Governor
He was appointed as Deputy Governor in July 2014for a period of three years.
- He looks after the following portfolios of RBI: banking supervision, currency management, financial stability, rural credit, customer service, as also, the Reserve Bank’s human resources and security.
- Prior to joining RBI, he was Chairman and Managing Director, Bank of Baroda (India’s second largest bank).
- Banking career: He began his career as a Probationary Officer in Bank of Baroda in March 1977 and his banking career spans 37 years.
- He has held several challenging positions including heading Bank of Baroda’s European operations (UK) before being elevated as Executive Director of Union Bank of India in September 2010 and further as Chairman of Bank of Baroda in January 2013.
He holds a Masters Degree in Commerce and CAIIB.