Michael Patra appointed deputy governor of RBI for a three-year term

Michael Patra will take over as the fourth deputy governor at the Reserve Bank of India

The government on Tuesday appointed Michael Patra, an executive director at the Reserve Bank of India, as a deputy governor of the central bank for a three-year term.

Patra replaces Viral Acharya, who left office on July 23 last year. He will take over as the fourth deputy governor at the Reserve Bank, which he joined in 1985. He was in charge of the central bank’s monetary policy division till now.

Patra holds a doctorate in economics from India’s top technology institute and undertook post-doctoral research in financial stability at Harvard University.