NEW DELHI: Consumer goods major Britannia has appointed former Reserve Bank of India (RBI) governor Urjit Patel as the company's additional director. Patel will serve as the additional director for Britannia for a period of five years, from 31 March 2021 up to 30 March 2026. 

"The board of directors of the company at their meeting held today 31 March 2021, approved the appointment of Dr Urjit Patel, as an additional director of the company in the category of non-executive and independent director," said Britannia in a BSE filing. 

A PhD holder in economics from Yale University, Urjit Patel served as the 24th governor of the RBI from 4 September 2016 to 10 December 2018, succeeding Raghuram Rajan. However, Patel stepped down before the end of his term citing personal reasons, thus becoming the fifth RBI governor to have resigned before the end of the term. 

After completing his PhD in 1990, Patel joined the International Monetary Fund (IMF), and worked in several countries like the United States, India, Bahamas, and Myanmar. 

He is currently the chairman of the governing body of the National Institute of Public Finance and Policy. He is also on the Investment Advisory Committee of the Army Group Insurance.