The government has extended the tenure of MD Patra as Deputy Governor of the Reserve Bank of India by a year.
This is the second time that the Government has extended his tenure by a year.
“The Appointments Committee of the Cabinet (ACC) has approved the re-appointment of Michael Debabrata Patra, Deputy Governor, Reserve Bank of India, for a further period of one year with effect from January 15, 2024 or until further orders, whichever is earlier,” per a notification issued by ACC’s Secretariat.
Patra was appointed as the Deputy Governor of RBI for three years in January 2020. Prior to his elevation, he was Executive Director at RBI.
Patra oversees the functioning of Departments such as Monetary Policy Department, Financial Stability, Statistics and Information Management, Economic and Policy Research, Financial Markets Regulation, Financial Markets Operations, among others