Mppsc current affairs

🔆 Return of Urjit Patel: India’s Voice in the IMF

📍 Why in Focus?
Former RBI Governor Urjit Patel has been appointed as Executive Director at IMF, marking a major return to global policy platforms.

📍 Key Highlights
✅ Patel, an Oxford & Yale alumnus, became RBI Governor in 2016; known for his low-profile yet firm style.
✅ Oversaw demonetisation (2016) & defended RBI’s independence, strengthening inflation-targeting and banking reforms.
✅ Resigned in 2018 citing differences with government over RBI autonomy, surplus transfer, and regulation.
✅ Authored Overdraft: Saving the Indian Saver (2020), critical of weak insolvency reforms.
✅ At IMF, Patel will represent India, Sri Lanka, Bangladesh & Bhutan — giving India a stronger voice in global financial governance.

📍 Challenges / Issues
✅ Balancing India’s domestic policy priorities with IMF’s structural prescriptions.
✅ Navigating global debates on subsidy policies, fiscal prudence & energy transitions.
✅ Maintaining RBI-style autonomy in multilateral settings.

✅ Prelims Question:
Urjit Patel, recently in news, has been appointed as Executive Director at:
A. World Bank
B. International Monetary Fund
C. Asian Development Bank
D. BRICS Bank
Ans: B

✅ Mains Question:
“Discuss the significance of India’s representation in global financial institutions like the IMF. How can such positions help safeguard India’s economic and strategic interests?” (150 words)

✨ #IMF #UrjitPatel #EconomicGovernance

www.tgoop.com/mppsc_current/14164

860 viewsSep 2 at 01:02

🔆 Return of Urjit Patel: India’s Voice in the IMF

📍 Why in Focus?
Former RBI Governor Urjit Patel has been appointed as Executive Director at IMF, marking a major return to global policy platforms.

📍 Key Highlights
✅ Patel, an Oxford & Yale alumnus, became RBI Governor in 2016; known for his low-profile yet firm style.
✅ Oversaw demonetisation (2016) & defended RBI’s independence, strengthening inflation-targeting and banking reforms.
✅ Resigned in 2018 citing differences with government over RBI autonomy, surplus transfer, and regulation.
✅ Authored Overdraft: Saving the Indian Saver (2020), critical of weak insolvency reforms.
✅ At IMF, Patel will represent India, Sri Lanka, Bangladesh & Bhutan — giving India a stronger voice in global financial governance.

📍 Challenges / Issues
✅ Balancing India’s domestic policy priorities with IMF’s structural prescriptions.
✅ Navigating global debates on subsidy policies, fiscal prudence & energy transitions.
✅ Maintaining RBI-style autonomy in multilateral settings.

✅ Prelims Question:
Urjit Patel, recently in news, has been appointed as Executive Director at:
A. World Bank
B. International Monetary Fund
C. Asian Development Bank
D. BRICS Bank
Ans: B

✅ Mains Question:
“Discuss the significance of India’s representation in global financial institutions like the IMF. How can such positions help safeguard India’s economic and strategic interests?” (150 words)

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