Career
Patra is a 1985 batch RBI Grade B officer. [4] [5] Before his appointment as deputy governor,Patra served as the executive director of the monetary policy department of RBI—where he moved to in 2006—and as such,was an internal member of the powerful Monetary Policy Committee. [4] [5] Earlier,Patra served as an adviser in charge of international finance,money,and banking in RBI's department of economic analysis. [4] [5]
From December 2008 and June 2012,Patra served on deputation to the International Monetary Fund as senior adviser to India's executive director at the fund. [4] [5]
Deputy Governor
In January 2020,Patra was appointed a Deputy Governor of the Reserve Bank of India by the Appointments Committee of the Cabinet—on the recommendation of the Cabinet Secretary-headed Financial Sector Regulatory Appointment Search Committee [6] —for a period of three years,succeeding Viral Acharya,who had resigned in July 2019. [7] [8] [9] With his appointment as deputy governor,Patra became the second RBI career economist to be elevated to the position. [7] Shri S.S. Tarapore was the first RBI career economist who later became the Deputy Governor.
Patra took charge as deputy governor on 15 January 2020, [10] and was assigned to look after RBI's monetary policy department,financial markets operations department,financial markets regulation department,international department,department of economic and policy research,department of statistics and information management,corporate strategy and budget department and financial stability unit. [11] As the deputy governor in charge of the monetary policy department,Patra became an ex-officio member of the Monetary Policy Committee and served there till 14 January 2025. [11]
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