Michael Patra

State govt fiscal situation improves; sops may crowd out resources

Market borrowing surged 32.8% in FY24, RBI report says

Forward guidance loses steam in downward cycle: RBI's Deputy Governor Patra

Patra said that under heightened uncertainty, discretion in forward guidance has increasingly gained legitimacy among major central banks

Monetary policy must reflect uncertainty in decision-making: RBI's Patra

Monetary policy may be 98 per cent talk and only 2 per cent action, but the cost of sending the wrong message can be high, Patra cautioned

Govt invites applications for RBI deputy governor's post, last date Nov 30

One of the deputy governors, Michael Patra's term ends on Jan 15

Households set to rebuild financial assets as income rises: RBI's Patra

He noted that the rebuilding process has already begun, with household savings increasing from an average of 10.6 per cent between 2011 and 2017 to 11.5 per cent during 2017-2023

RBI deputy Guv cautions against use of CBDC as 'safe havens' during crisis

During crises, CBDCs could be perceived as a safe haven, rendering uninsured bank deposits more prone to withdrawal and increasing risk of bank runs, says Patra

Put frameworks to manage failure of deposit-taking institutions: Patra

RBI Deputy Governor Michael Patra on Tuesday asked deposit insurers and other financial safety net participants to put in place frameworks to manage the failure of deposit taking institutions and prevent potential contagion effects. With the rapid digitisation of financial transactions, the crisis can propagate quickly requiring emergency liquidity assistance and pre-emptive interventions in troubled institutions, said Patra while delivering a keynote address at a conference on 'Navigating Emerging Challenges for Deposit Insurers and Fortifying Crisis Preparedness' in Jaipur. To deal with the emerging challenges, he said, "The DICGC is prioritising risk management, including contingency planning and crisis management frameworks." Patra said that it is "imperative for deposit insurers and other financial safety net participants to put in place frameworks for crisis preparedness and management that enhance their ability to manage the failure of deposit-taking institutions while ...

RBI forms expert panel to benchmark its statistics with global standards

The expert committee, chaired by the RBI Deputy Governor Michael Debabrata Patra, will consist of 10 members. The panel will submit its report by the end of November 2024

India can be world's second-largest economy by 2031: RBI DG Patra

Evidence of households switching to physical assets; FY26 average inflation seen at 4.1%

No change in policy, some 'misusing' currency derivatives norms: RBI

Das reiterated that there have been no changes to RBI's policy, emphasising that the necessity of underlying exposure has always been a fundamental aspect

India set for strong economic rebound seen in 2000s: RBI Dy Guv Patra

While private consumption remains pivotal, the economic resurgence will be fuelled by investments and exports, said Michael Debabrata Patra

Unanimity among current RBI monetary policy committee's internal members

The first MPC formulated policies between October 2016 and August 2020. The second MPC, with three new external members, was established in October 2020

RBI deputy governor Michael Patra gets another 1-year extension

Patra, a career central banker since 1985, has worked in various positions in the Reserve Bank of India

Decoupling of emissions and GDP not yet achieved: RBI deputy governor Patra

Patra further said that central banks and financial institutions must actively address climate change, as it impacts their mandates of price and financial stability

Monetary policy review: We use one stone to kill one bird, says RBI

There are several moving parts in the whole liquidity scenario. We will watch the evolving trends and notify as and when necessary: Das

Financial savings increased by 14% in absolute terms: RBI deputy guv Patra

Patra also mentioned that households are shifting from financial savings to physical savings

Covid-19, Ukraine war led to data gaps in 2022: RBI dy governor Patra

Analysis of forecast errors show there is no systematic bias in system, he says

Productivity growth critical for recovery of emerging economies: Patra

Michael Patra, in a speech delivered at the Sixth Asia KLEMS Conference on Sunday, said it is widely believed that structural slowdown has been spreading across the global economy after growth peaked

MSP increase to impact CPI inflation by 10-12 basis points, says RBI

'Banks have been cautious. I think there is still some amount of liquidity sitting there', said Das

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