24th GOVERNOR OF RBI RESIGNS

Urjit Patel has become fifth governor to resign in post-independence era

Urjit Patel was born 28 October 1963 in Nairobi is an Indian economist. He did his primary schooling from Oswal Primary School a gujarati community school and later completed his basic education from Jamhuri High School in Nairobi Kenya. He graduated as Bachelor of Sciences in Economics from London School of Economics and holds a Master of Philosophy degree in Economics from Linacre college.A doctorate in Economics from Yale university.

Career

Joined International MONETARY FUND 1990.
Consultant to the Government of India in the Ministry of Finance, Department of Economic Affairs 1998 -2001.
Member on board of Gujrat State Petroleum Cooperation 2006-07.
Between 2000-2004 worked with committees for both Central as well as State Governments.
Patel was appointed as deputy governor on 11 January 2013 for a tenure of three years. Patel took over as the governor of Reserve Bank of India on 20 August 2016.

RBI Governors who resigned pre-independence era

Sir Osborne Arkell Smith first governor of RBI 1935-1937. A banker by profession, policy maker on issues like the exchange rates and interest rates. He did not sign any bank notes during his tenure.

RBI Governors who resigned post -independence era

Sir Benegal Rama Rau. An ICS officer was RBI 1949-1957. His tenure witnessed the commencement of the Planning Era as well innovative initiatives in the spheres of co-operative credit and industrial finance. The recommendations of the All India Rural Credit Survey Committee appointed during his tenure led to the transformation of the Imperial Bank of India to State Bank of India.

K R PURI was a governor of RBI 1975-1977. He was Chairman and Managing Director of Life Insurance Cooperation. During his tenure, Regional Rural Banks were set up.
R N Malhotra was a civil servant (IAS) was the governor of RBI 1985-1988. The Discount and Finance House of India, the National Housing Bank were set up and the Indira Gandhi Institute of Development Research inaugurated.