In a recent development, the Appointments Committee of the Cabinet (ACC) has given its nod for the reappointment of Michael Patra as the Deputy Governor of the Reserve Bank of India (RBI). The extension is set to be effective from January 15, 2024, according to a press release.
Patra, who initially assumed the role in January 2020, was granted a one-year extension last year, and now his tenure is extended once again. The RBI website had previously indicated that Patra’s term was slated to conclude on January 14, 2023.
Having joined the RBI in 1985, Patra has held various key positions within the central bank. Notably, the reshuffling of deputy governor portfolios occurred on June 26, 2023, following the retirement of MK Jain. This rearrangement was prompted by the appointment of Janakiraman as the new deputy governor.
