The Appointments Committee of the Cabinet (ACC) has approved the reappointment of the Reserve Bank of India’s (RBI) Deputy Governor Michael Patra for one year.
The reappointment will be effective from January 15, 2024, a press release said. The term of Patra was scheduled to end on January 14, 2023, as per the RBI website.
Patra was appointed as RBI Deputy Governor in January 2020, and last year he got an extension of one year. Patra joined RBI in 1985 and has worked in various positions at the central bank.
On June 26, 2023, RBI reshuffles portfolio of deputy governors after the MK Jain retires. The reshuffling of portfolios have taken place after the appointment of new deputy governor Janakiraman.
MD Patra has got department of Monetary Policy, Secretary, International, Co-ordination, Economic and Policy Research, Statistics and Information Management, Financial Markets Operations, Financial Markets Regulations, Financial Stability, Deposit Insurance and Credit Guarantee Corporation, and Corporate Strategy and Budget.
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