Urjit Patel assumes charge as 24th Governor of RBI

Urjit Patel has assumed charge as the 24th Governor of the Reserve Bank of India (RBI) on 4 September 2016.

The handover ceremony will take place on 6 September 2016.

Patel had been serving as the Deputy Governor since January 2013.

Patel succeeds Raghuram Rajan, who after serving a three-year term, is going back to academia.

On 20 August 2016, the appointment committee of cabinet approved the appointment of Patel for three years.