Michael Debabrata Patra reappointed as RBI Deputy Governor

New Delhi, Jan 9: The Centre on Monday reappointed Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra for a period of one year with effect from January 15. The decision was taken by the Appointments Committee of the Cabinet.

Patra, a career central banker since 1985, had taken over as RBI Deputy Governor on January 14, 2020. He has worked in various positions in the central bank.

As Executive Director, he was a member of the Monetary Policy Committee (MPC) of the RBI, which is entrusted with the responsibility of monetary policy decision-making in India.

He continues to be an ex-officio member of the MPC as Deputy Governor. Prior to this, he was the Principal Adviser of the Monetary Policy Department of RBI between July 2012 and October 2014.

Patra has worked in the International Monetary Fund as Senior Adviser to Executive Director (India) from December 2008 to June 2012, when he actively engaged in the work of the IMF’s Executive Board through the period of the global financial crisis and the ongoing Euro area sovereign debt crisis.

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