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Former Reserve Bank Governor I.G. Patel passes away
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His tenure witnessed demonetisation of high denomination currency notes as well as gold auctions.
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VADODARA:
The former Governor of the Reserve Bank of India and Director of the London School of Economics, Indravadan Gordhanbhai Patel, died in a New York hospital on Sunday night, family sources said.
He was 81 and is survived by his wife and a daughter.
Mr. Patel, born here, occupied some of the highest positions in economic policy making, both in India and abroad.
He became economic advisor in the Finance Ministry in 1954 and served in various positions in the Government for 18 years.
He was Deputy Administrator of the United Nations Development Programme for two years and served on the UNDP from 1972 to 1977. Mr. Patel was appointed RBI Governor on December 1, 1977. His tenure witnessed demonetisation of high denomination notes as well as gold auctions. — PTI, UNI
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