The Reserve Bank of India (RBI) on January 15 said that Michael Debabrata Patra took over as Deputy Governor at the central bank for a period of three years.
He replaces Viral Acharya who quit the post six months before end of his three-year term. Prior to this appointment, Patra was Executive Director at RBI.
Patra will be looking after Monetary Policy Department, Financial Stability Unit, Financial Markets Operations Department, Financial Markets Regulation Department, Department of Economic & Policy Research, Department of Statistics & Information Management and Corporate Strategy & Budget Department.
These departments were redistributed to other deputy governors when Acharya quit in July last year.Patra joined RBI in 1985 and has worked in various positions at the central bank. He has been part of the Monetary Policy Committee and will continue to be its ex-officio member, RBI said in a release.