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RBI: Michael Patra appointed as Deputy Governor

By IndianMandarins- 14 Jan 2020


The NaMo Government on January 13 appointed Michael Patra (ED, RBI) as Deputy Governor for a three-year term. He will take over as the fourth Deputy Governor at RBI which he joined in 1985. He was in charge of the Monetary Policy Division in RBI.

Patra replaces Viral Acharya, who left office on July 23, 2019; six months before the end of his term. Acharya was looking after the monetary policy department, including its forecasting and modelling unit, in the RBI.

The Financial Sector Regulatory Appointment Search Committee (FSRASC) had shortlisted about seven names who have been called for the interview on November 7, 2019. The search panel headed by Union Cabinet Secretary Rajiv Gauba also included RBI Governor, Financial Services Secretary and some independent members.

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