Former RBI Guv appointed AIIB VP

Patel has been appointed as one of the five vicepresidents of the Asian Infrastructure Investment Bank (AIIB), a Beijing-based multilateral funding institution, officials aware of the development said on Sunday. India is a founding member of the AIIB with the second highest voting share after China. It is headed by former Chinese vice minister for finance Jin Liqun. Patel, 58, will succeed outgoing vicepresident D J Pandian for a three-year tenure. Patel had taken over as the 24th Governor of the RBI, succeeding Raghuram Rajan on September 5, 2016. Patel resigned in December, 2018 “on account of personal reasons”, saying “I have decided to step down from my current position effective immediately”.