RBI Deputy Governor : Michael Patra will join from January 15!
The Centre has granted a one-year extension to RBI Deputy Governor Michael Patra’s tenure. The extension will be effective from January 15, 2024.
Michael Patra is responsible for overseeing the crucial monetary policy department. He is a member of the rate-setting panel.
The appointment committee of the Cabinet has approved the re-appointment of Dr Michael Debabrata Patra, deputy governor, Reserve Bank of India, for a further period of one year, w.e.f 15.01.2024 or until further orders, as stated by the department of personnel and training.
Michael Patra was initially appointed in January 2020 for a three-year term. Patra’s tenure was extended by one year in the previous year.
Michael Patra has held various positions within the RBI from 1985 including executive director before becoming deputy governor.
Patra has been an ex-officio member of the Monetary Policy Committee (MPC) since its inception in 2016 and will continue to serve in that capacity after the 1 year extension.
From December 2008 to June 2012, he has also worked with the International Monetary Fund (IMF) as a Senior Adviser to the Executive Director (India).
RBI Deputy Governor is a Harvard University fellow who conducted post-doctoral research in financial stability. He holds a PhD in Economics from the Indian Institute of Technology, Bombay.
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