Central re-appoints Michael Patra as RBI Deputy Governor, tenure extended by 1 year
New Delhi, January 10: Centre has extended the tenure of the Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra, whose three-year term is ending on January 14, for one year.
According to the report, the Appointments Committee of the Cabinet, led by Prime Minister Narendra Modi, has approved Patra's reappointment as the RBI's deputy governor for another year, beginning January 15.
The RBI's important monetary policy function is monitored by Deputy Governor Michael Patra. He also serves on the Monetary Policy Committee of the RBI, which is chaired by RBI Governor Shaktikanta Das.
The Reserve Bank of India had four deputy governors. M K Jain, M Rajeshwar Rao, and T Rabi Sankar are the bank's other three deputy governors.
Patra, a career central banker, was appointed as the Reserve Bank of India's deputy governor for the first time in January 2020. Before being appointed as deputy governor, he was the RBI's Executive Director. He has held various positions at the RBI since 1985.
- With inputs from agencies