The long speculations finally ended when Urjit Patel's name was announced as the new Reserve Bank of India (RBI) Governor. Urjit Patel will be replacing the current RBI Governor Raghuram Rajan. Currently, Urjit Patel is RBI's deputy governor and is in charge of monetary policy. Patel has worked with Boston Consulting Group and Reliance Industries. He is Doctorate in Economics from Yale and M. Phil from OxfordNoteworthy. He has also been a key architect of India's inflation target and rate-setting panel. Urjit Patel is 52 years old.

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