Govt extends RBI deputy governor Michael Patra's tenure by one year

Prior to being elevated to the position of deputy governor, Patra was an executive director with the RBI

The government has re-appointed Michael Patra as deputy governor, Reserve Bank of India for an additional period of one year with effect from January 15, 2023, the central bank said on Tuesday.

The Appointments Committee of the cabinet, headed by Prime Minister Narendra Modi, approved the re-appointment of Patra.

Patra, who is in charge of the monetary policy department and a member of the six-member Monetary Policy Committee, originally had a three-year tenure which was ending on January 14.

As deputy governor, Patra also looks at the Financial Markets Operations Department, the Financial Markets Regulation Department including Market Intelligence, the