Urjit Patel has taken over as a deputy governor of the RBI, it said in a statement on Monday.

Patel has been appointed for a period of three years starting from January 11, the Reserve Bank of India said.

Prior to this, Patel was adviser (energy and infrastructure) at the Boston Consulting Group.

He replaced Subir Gokarn, who was heading the monetary policy department, after his term as a deputy governor ended on December 31, 2012.