Michael Debabrata Patra is new RBI deputy governor

Michael Debabrata Patra has been appointed deputy governor of the Reserve Bank of India (RBI), according to a Personnel Ministry order.

He has been appointed to the post for a period of three years, it said.

Patra, who is looking after the monetary policy department as the executive director, will be the fourth deputy governor of the RBI. The post was lying vacant after Viral V. Acharya had resigned from the post in June last year.

The RBI, headed by Governor Shaktikanta Das, can have a maximum of four deputy governors.