Michael Debabrata Patra, the deputy governor of the Reserve Bank of India (RBI), had his term extended by the government on Monday for an additional year. On January 14, Patra’s three-year term would come to an end.
Patra’s re-appointment as the RBI’s deputy governor for an additional year starting on January 15 has been accepted by the Appointments Committee of the Cabinet, which is chaired by Prime Minister Narendra Modi.
As the central bank’s deputy governor and a participant in the Monetary Policy Committee, Patra is in charge of the division responsible for monetary policy.
Shaktikanta Das, deputy governor of the RBI, is in charge of the six-person Monetary Policy Committee.
The RBI has four deputy governors in addition to the governor. M K Jain, M Rajeswar Rao, and T Rabi Sankar are the bank’s other three deputy governors.
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