Former RBI Governor Urjit Patel appointed vice-president of Beijing based AIIB | Daily Current Affairs 2022
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Former RBI Governor Urjit Patel appointed vice-president of Beijing based AIIB

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Urjit Patel: Former Reserve Bank of India (RBI) Governor Urjit Patel has recently been appointed as a vice-president of the Asian Infrastructure Investment Bank (AIIB), a Beijing-based multilateral development bank.

Key Points:

  • Patel, 58, will succeed outgoing Vice President D J Pandian, who is in charge of sovereign and non-sovereign lending of the AIIB in South Asia, the Pacific Islands and South-East Asia.
  • He told Prasar Bharati Special Correspondent in Beijing that he will be joining on 1st February.
  • He will be one of the five Vice Presidents of the AIIB with a three-year tenure.
  • An economist with great repute, Patel will take over as vice-president at a time when AIIB is expanding its footprint in developing countries especially India where Infrastructure is seen as a key driver for growth.
  • AIIB is currently headed by China’s Jin Liqun, who is a former Chinese vice minister for finance.

About Urjit Patel:

  • Urjit Patel is currently the chairman of the National Institute of Public Finance and Policy.
  • He had taken over as the 24th Governor of the Reserve Bank of India (RBI) succeeding Raghuram Rajan in September 2016.
  • He was with RBI till December 2018.

About D J Pandian: 

Mr. Pandian is a former Gujarat chief secretary who has been AIIB’s vice-president since 2016, the year the bank was set up with India as its second largest shareholder after China.

Mr. Pandian was also the bank’s first chief investment officer.

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