The government on Tuesday approved appointment of Michael Debabrata Patra as the new deputy governor of the Reserve Bank of India for a period of three years. Patra will replace Viral Acharya who left office on July 23 last year. Patra was earlier a executive director of the Reserve Bank. He is a Phd in Economics from the Indian Institute of Technology, Mumbai.
Before moving to the Monetary Police department in October 2005, he was an adviser in the department of economic analysis and policy in charge of international finance, money, and banking. He has served in various capacities in the RBI which he joined in 1985. Patra is a fellow of the Harvard University where he took post doctoral research in the area of financial stability.