RBI Dy Governor Michael Debabrata Patra reappointed for 1 year
RBI Dy Governor Michael Debabrata Patra reappointed for 1 year

NEW DELHI: The Reserve Bank of India (RBI) on Monday, January 10,  reappointed its  Deputy Governor Michael Debabrata Patra for a period of one year,  effective from January 15. The decision was taken by the Appointments Committee of the Cabinet.

On January 14, 2020, Patra, a central banker by profession since 1985, assumed the position of RBI Deputy Governor. He has held a number of jobs at the RBI.

He served on the RBI's Monetary Policy Committee (MPC), which is charged with making decisions about India's monetary policy, in his capacity as Executive Director. As Deputy Governor, he continues to serve as an ex-officio member of the MPC. He ALO served as the RBI's Principal Adviser for the Monetary Policy Department from July 2012 to October 2014 prior to this.

Patra served as Senior Adviser to the Executive Director (India) at the International Monetary Fund from December 2008 to June 2012, participating actively in the Executive Board's work throughout the era of the global financial crisis and the ongoing sovereign debt crisis in the Euro region.

Patra published articles in the areas of infation, monetary policy, international trade and finance, including exchange rates and the balance of payments. A Fellow of Harvard University where Patra undertook post-doctoral research in the area of financial stability, he held a Ph.D. in Economics from the Indian Institute of Technology, Bombay.

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