Michael Patra appointed as RBI’s Deputy Governor
Michael Debabrata Patra will be taking up his new position as the Deputy Governor of the Reserve Bank of India. His appointment is going to be for a period of three years.
Prior to his new appointment within RBI, Patra was incharge of taking care of the monetray policy department in his role as the Executive Director. The search for a new Deputy Governor had been underway since the resignation of Patra’s predecessor, Viral V Acharya.
Patra will continue to retain the monetary policy department and will be reporting to Governor of RBI, Shaktikanta Das.
At present, the RBI has three deputy governors: NS Vishwanathan, BP Kanungo, and MK Jain. RBI can have a total of four deputy governors and with Patra’s appointment, the number of deputy governors is up to four.
Acharya resigned six months prior to the end of his three-year long tenure.
Image credit: The News Minute