Centre extends RBI Deputy Governor Michael Patra's tenure by one year

10 Jan 2023 , 11:29 AM

The government on January 9 has extended the term of the deputy governor of the Reserve Bank of India (RBI), Michael Debabrata Patra, by a further period of one year.

Michael Patra’s three-year tenure was coming to an end on January 14.

The Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi, has approved Patra’s re-appointment as the RBI’s deputy governor for a further period of one year with effect from January 15, sources said.

Notably, Patra handles the monetary policy department as the deputy governor of the central bank and also as a member of the rate-setting Monetary Policy Committee.

The six-member Monetary Policy Committee is headed by RBI Governor Shaktikanta Das.

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