Bhubaneswar: Michael Debabrata Patra, a well-known economist from Odisha, has been reappointed as RBI Deputy Governor.
“The appointment committee of the Cabinet has approved the re-appointment of Dr Michael Debabrata Patra, deputy governor, Reserve Bank of India, for a further period of one year,” said the department of personnel and training on Friday.
The extension takes effect from January 15 this year.
Patra was first appointed as RBI Deputy Governor in January 2020 for three years. Last year, the government extended his term by one year. He is in charge of the all-important monetary policy department and a member of the rate-setting panel. Patra, with fellow Odia and RBI Governor Shaktikanta Das, had also played a vital role in dealing with COVID-related impact on the economy.
A native of Cuttack, Patra did his graduation from the erstwhile Ravenshaw College and post-graduation from Utkal University. He has a PhD in Economics from the Indian Institute of Technology, Bombay. A career central banker, he had joined RBI in 1984 and served in various capacities. Before becoming deputy governor, Patra was executive director of the RBI. He is also a fellow of Harvard University.
