Former Governor of Reserve Bank of India (RBI) Urjit Patel has now been given a big responsibility. He has been appointed as Additional Director in the Britannia Company. According to a report, Britannia Industries has announced that its board of directors has approved the appointment of Dr. Urjit Patel. He has been made non-executive and independent director.
Will take charge till March 30, 2026
According to the company’s statement, approval has been granted for a period of 5 years from March 31, 2021 as a director. That is, Urjit Patel will remain in the company till March 30, 2026. Approval has been received for the shareholder. The company has stated that Urjit Patel has met the criteria of independence under the provisions of the Companies Act, 2013 and the rules made thereunder and SEBI (LODR) Regulations, 2015.
Urjit Patel resigned from his post in RBI in December 2018
According to the company, Dr. Urjit Patel fulfilled the criteria of independence under the provisions of the Companies Act 2013 and the rules made thereunder and SEBI (LODR) Regulations, 2015. Urjit Patel’s four-year term as RBI Governor began in September 2016, however, he resigned from his post in December 2018 citing personal reasons. A decision like demonetisation was taken while Urjit Patel was the RBI governor.