Michael Debabrata Patra becomes Deputy Governor of RBI
Michael Debabrata Patra has replaced Viral Acharya who resigned from the post in July 2019. Earlier, Michael Debaprata was working as an Executive Director at the RBI. He was overseeing four departments, Department of Statistics and Information Management, Monetary Policy, Departments of Economic and Policy Research.
About Michael Patra
Michael Patra’s full name is Michael Debabrata Patra. He has earned a PhD degree in Economics from IIT Mumbai. Patra was a consultant in the Economic Analysis Department before being sent to the Monetary Policy Department in October 2005. Patra joined the Reserve Bank in the year 1985 and has served in a number of posts in the organization. He has been a fellow of Harvard University. He did post-doctoral research on financial stability at Harvard.
Patra will have tenure of three years. Earlier, he has held the post of executive director in the monetary policy department. He is also a member of the Monetary Policy Committee (MPC). Patra supported interest rate cuts to boost the pace of the economy, in the last three policy meetings.