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RBI: Michael Patra appointed as Deputy Governor

By Indian Mandarins- 14 Jan 2020
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rbi:-michael-patra-appointed-as-deputy-governor

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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Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.