Urjit Patel appointed as RBI Governor

Urjit Patel, who was the Deputy Governor at the Reserve Bank of India (RBI) for the past three years, has been announced as the new Governor. Patel will succeed Raghuram Rajan, and will become the 24th Governor of the RBI. He has been appointed on the recommendation of the Financial Sector Regulatory Appointments Search Committee  headed by Cabinet Secretary.