Michael Patra

"By being anti-inflationary, monetary policy makes the biggest contribution to growth"

The government has already started the process of finding a successor for Patra

Market borrowing surged 32.8% in FY24, RBI report says

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

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

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

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

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

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 ...

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

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

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

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

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

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

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

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

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

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

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