Mumbai, Jan 15: Michael Debabrata Patra took over as Deputy Governor of the Reserve Bank of India (RBI) on Wednesday.
He was an Executive Director of India's central bank before being elevated to the post of Deputy Governor.
An RBI release said that as Deputy Governor, Patra will look after Monetary Policy Department including Forecasting and Modelling Unit (MPD/MU), Financial Markets Operations Department (FMOD), Financial Markets Regulation Department.
He will also look after Market Intelligence (FMRD/MI), International Department (Intl. D), Department of Economic and Policy Research (DEPR), Department of Statistics and Information Management (including Data and Information Management Unit) (DSIM/DIMU), Corporate Strategy and Budget Department (CSBD) and Financial Stability Unit.
Patra, a career central banker since 1985, has worked in various positions in the Reserve Bank of India.
As Executive Director, he was a member of the Monetary Policy Committee (MPC) of 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.
Prior to this, he was Principal Adviser of the Monetary Policy Department, Reserve Bank of India between July 2012 and October 2014.
He has worked in the International Monetary Fund (IMF) as Senior Adviser to Executive Director (India) during December 2008 to June 2012, when he actively engaged in the work of the IMF's Executive Board through the period of the global financial crisis and the ongoing Euro area sovereign debt crisis.
The release said that his book "The Global Economic Crisis through an Indian Looking Glass" vividly captures this experience.
He has also published papers in the areas of inflation, monetary policy, international trade and finance, including exchange rates and the balance of payments.
A fellow of the Harvard University where he undertook post-doctoral research in the area of financial stability, he has a PhD in Economics from the Indian Institute of Technology, Mumbai.
He will hold the post for three years or until further orders. The post fell vacant after Viral Acharya resigned on July 23 last year.
Comments
Rightly said.
Partriotism is not by force, not by singing any song, or not by showing anything.
It is the love for the people of the nation.
If this is missing, he or she is not nationalist.
Singing the vande mataram, it is a debatable subject. If one has no objection of its contents, no problem to sing.
But still it is up to him to sing or not to sing. Not by force.
If anybody of the opinion to sing it, then will they read holy books all other religions and will they follow it.
No, not possible to do it. Therefore dont force to sing.
The truth is, ISLAM is purely based believing in 1 and only Go.
That is ONE-NESS OF GOD. Anything contradicts the 1ness is unforgivable sin.
There is no other sin above it. This is the strong principle of ISLAM. Muslims are ready for any sacrifices to follow it.
Unfortunately Most of the people even Many Muslims dont know it.
It is better to know the principle of every religion. It does not mean to follow it.
But knowing the fact can help to clear many doubts.
May God help.
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