Newly appointed deputy governor to look after RBI’s monetary policy division

  • Newly appointed RBI Deputy Governor Michael Debabrata Patra will look after the key monetary policy department along with seven other units, the central bank said after reshuffling portfolios of deputy governors.
  • Besides the governor, the Reserve Bank of India (RBI) has four deputy governors looking after different departments.
  • Patra, who was the executive director, took over the post that was lying vacant since June last year when Viral Acharya resigned.
  • As executive director, he was a member of the Monetary Policy Committee (MPC) of the RBI, which is invested with the responsibility of monetary policy decision making in India. He will continue to be an ex-officio member of the MPC as deputy governor.
  • As deputy governor, Patra will look after Monetary Policy Department including Forecasting and Modelling Unit (MPD/MU).
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